Ohio Single-Pay Loan

Rates and Terms

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For our the Rates & Terms for Ohio Installment Loans, please click here.

Credit Services Organization

MoneyKey - OH, Inc. is licensed as a Credit Services Organization (CSO) by the Ohio Department of Financial Institutions, Department of Commerce.

As a CSO, MoneyKey attempts to arrange a loan and is responsible for the ongoing servicing of any loans that are originated. All Installment Loans are funded by an unaffiliated third-party lender.

About the Single-Pay Loan

A Single-Pay Loan provides you with all the benefits of a traditional payday loan. If you find yourself in need of a cash advance, MoneyKey can assist you as a Credit Services Organization (CSO) by attempting to arrange a Single-Pay Loan between you and an unaffiliated third-party lender.

How much can I borrow in Ohio?

MoneyKey-OH, Inc. is a CSO and is not the lender in the State of Ohio. All loans are made by an unaffiliated third party lender. As a CSO, MoneyKey will attempt to arrange a loan for you between $200 and $1,000.

When do I pay back my loan?

Your loan will be due on your next pay date that falls between 8 and 45 days from the date you receive the funds.

How much will my loan cost?

MoneyKey charges New Customers a Credit Service Fee (CSO Fee) to locate a lender and guarantee payment of your loan. The CSO Fee is $29 per $100 of the amount borrowed, unless you receive your income once per month, in which case, the CSO Fee is $32 per $100 of the amount borrowed.

Returning Customers are charged a CSO Fee of $28 per $100 of the amount borrowed, unless you receive your income once per month, in which case the CSO Fee is $31 per $100 of the amount borrowed.

Additionally, the unaffiliated third-party lender funding your loan will charge you an interest rate of 24.9% per year on the amount financed.

Example: if you are a new customer and you borrow $300 for two weeks (14 days), MoneyKey charges you $87 (CSO Fee of $29 per $100 borrowed) and the lender charges you $3.71 (interest of 24.9% on $387.00). If you pay back your loan on time, the total amount you will have paid is $300 + $87 (CSO Fee) + $3.71 (interest) = $390.71.

The following chart provides more examples of CSO Fee and lender interest calculations:

Loan Amount CSO Fee Lender Interest Rate Interest on 14-day term Total APR Total Interest and Fees
$100.00 $29.00 24.9% $1.24 788.40% $30.24
$300.00 $87.00 24.9% $3.71 788.31% $90.71
$500.00 $145.00 24.9% $6.18 788.30% $151.18

What are my repayment options?

The Single-Pay Loan is meant to be paid in full on your due date. The total amount due will equal the principal loan amount + CSO Fee + lender interest. If you are not able to pay the total amount due on your due date, please contact MoneyKey and one of our Customer Care agents would be happy to discuss your options with you.

  1. Refinance without Partial Payment*: The loan fee (CSO Fee and Lender Interest) will be due on the scheduled due date and the original loan principal, plus an additional loan fee (CSO Fee and Lender Interest) will be extended until your next pay date.
  2. Refinance with Partial Payment: The loan fee (CSO Fee and Lender Interest), plus any additional amount towards the principal will be due on the scheduled due date and the remaining loan principal, plus corresponding loan fee, will be extended until your next pay date.

* You can Refinance without Partial Payment up to a maximum four (4) times, unless you receive your income once per month, in which case it's a maximum of two (2) times. Subsequent refinancing of your loan must include a minimum payment of $50 towards the original principal.

Are there additional charges?

No. There are no additional charges beyond what has been disclosed here.

Can I cancel my loan?

You can rescind your loan at no cost within three (3) business days of the effective date of your agreement by phone at 1-866-255-1668 or via email at customercare@moneykey.com. If you do rescind your loan, you will be responsible for returning the entire principal balance back to us. If you do not return the entire principal balance to us, your loan will remain in full force and effect and you will accrue fees on such outstanding principal balance.

Who funds the Single-Pay Loan?

MoneyKey-OH, Inc. is not the lender in the State of Ohio. MoneyKey is a Credit Services Organization in the State of Ohio and will attempt to arrange a loan between you and an unaffiliated third-party lender.

I have a few more questions

For additional questions, or If you would like to learn more about this Single-Pay Loan, please call our Customer Care team at 1-866-255-1668 or check out the frequently asked questions (FAQs) for this product.

Authority to Operate

MoneyKey-OH, Inc. is licensed by the State of Ohio CS.900134.000. Click on the image below to view our Credit Services Organization License.

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