Money Mart Loans Review

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Money Mart is one of the rare types of lenders that tend to give fast results and expect quick returns. If you’re in a pinch and need some money to cover a bill, and you know you’ll get your paycheck right around the corner, you can easily use Money Mart hassle-free.

Money Mart is a quick payday loan that can help qualify you for up to $500 depending on which state you live in. They do have a very high APR rate, but due to it being over 14 days for repayment – it doesn’t get that high.

In some states, they also offer up to $1,000 in loans. However, this is only offered in two states – Arizona and California. Either way, if you’re looking for fast cash that can be approved in under 24 hours, then you’ll enjoy Money Marts quick business.

If you can’t make the payment or are unsure about getting the cash within 14 days, we might suggest looking elsewhere. But, we like to be fair, so we’ll go over all of Money Mart’s positives and negatives. Starting with their loan types;

Cash Advance/Payday Loan

A cash advance is a short-term loan to help you in a pinch. They are perfect for emergencies where you just need a little extra money. Applying and approving is very quick, usually on the same day. If you find that you need to make a deadline or a bill, then Money Mart may be your solution.

California Personal Loan

In the state of California, Money Mart offers personalized loans. Personalized money loans are where you borrow money and pay it back throughout a set period.

These are often agreed upon when signing a contract for the loan. Money Mart gives select Californians the ability to borrow a loan without much hassle.

At maximum, Money Mart provides up to $1,000 for walk-in clients. As long as you can provide income, you can quickly get approved. However, you should be aware that the more money you loan, the higher the APR rate and interest will be.

Arizona Fast Cash Loan

When life happens, and you need some quick cash, an Arizona cash loan can help. Money Mart provides in-store walk-ins and can get you a cash loan in as little as 15 minutes.

There’s a limit on how much money you can borrow, but that’s expected for any loan company. Applying online, you can get up to $500 for the loan. However, walking into a physical store may be able to score you over $1,000.

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Borrower requirements
  • Age 18years or older
  • Have regular income
  • US citizen or permanent resident
  • Have a valid bank account
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  • Credit or Debit card
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What's the Borrowing Process Like at Money Mart?

Depending on what location you’re heading to, you can either walk-in, call, or fill out an online application. Borrowing from Money Mart is essentially like any other loan company.

You’ll need to prove that you’re a US citizen and have a social security number. From there, you’ll be asked to provide some basic information and discuss the amount of the loan.

After that, you’ll be contacted by a Money Mart representative and can finalize the loan details. Most people say that they hear from the company in as little as 24 hours. However, it’s faster and more efficient to do a walk-in consultation in either California or Arizona.

After you’ve been approved, Money Mart will automatically deposit the money into your bank account. From there, you have 14-days to pay back the loan. It’s an excellent solution if you’re in a quick pinch.

Is There a Maximum Amount You Can Borrow From Money Mart?

Money Mart has a few options on how much money you can borrow. The most you can do with walk-ins is up to $1,000 in either Arizona or California.

Many of their maximum amounts vary by states they offer in. For example, if you were to select a loan for Florida, the maximum amount would be $500. For a better estimate of how much you could borrow, use their interactive webpage.

What Are the Associated Money Mart Loans and Fees?

Due to Money Mart being a fast loan company, you can expect some remarkably high APR rates. The repayment usually is based on a 14-day repayment plan. So, it’s going to be a high APR charge.

For a maximum loan of $500, you can expect to be charged an APR rate of 286.7%. That’s much higher than almost any other loan service you’ll run into. Although, the reason for this is because you can get the cash the same day.

What Happens If You Don’t Pay Money Mart?

Most loans from Money Mart are around 14 days for repayment. However, they do have extended plans. If you believe that you are about to miss a loan payment, you should contact them right away.

Some of their professionals are willing to work with you to ensure that you won’t be given higher interest rates. However, this differs from state to state.

Aside from that, Money Mart offers a possible extended payment plan if you can’t make your payment date. While this may affect your credit and add on some additional fees, it ensures that you won’t get into too much trouble. Although, the sooner you notify the company about this issue, the better.

Contact Money Mart as soon as you think you’re going to miss a payment. This will help ensure that there is ample time to figure out a solution that works best for you and the company.

Advantages of Money Mart Loans
  • Fast & Great Customer Experience ;
  • Includes Bad Credit Applicants ;
  • Fewer Documents Required;
  • Get Bills Paid Fast ;
Disadvantages of Money Mart Loans
  • Additional Fees Do Apply;
  • Credit Decrease ;

Is Money Mart A Legitimate Loan Company?

Yes, Money Mart is a legitimate American loan company. They operate in several different states and even have physical locations. For those who feel uncomfortable making or signing contracts online or through the phone, their in-store option can be a good alternative.

However, while it stands as a legitimate company in America, it may not be the same in Canada. There have been previous litigations and lawsuits concerning the company.

These lawsuits mainly have to do with their APR rates. Additionally, the lawsuits were filed in 2009 and 2010, which means almost a decade has passed since then.


Their borrowing process is very simplistic compared to other loan companies. As long as you live in an eligible state, you can get a loan from them. Applying online takes less than a half-hour, and you can hear back from them the same day.

If you’re not in the mood to apply online or don’t have the means to do so, then you can head to one of their in-store loan buildings. You’ll need to bring some information with you, which we will go over in another section.

Money Mart is also an excellent choice for those who have low credit. As long as you can demonstrate that you have a steady proof of income or the ability to pay back the loan, you’ll likely get approved. This works well for those who may not have the best credit or are behind on other payments.


Comparing Money Mart’s interest rates to other loan companies and banks, they are much higher. You could easily find a better rate at a different loan company. The only upside is that you can get approved much quicker than other services.

Aside from that, their payment plan isn’t a “repayment plan.” Instead, you are given an option to repay within 14-days. This works for people who are expecting money or their next paycheck.

But, for those unsure of when they will get the money, it’s a bad option. Like any loan company, they will add extra fees or up their interest rates if you miss the repayment without notifying them. And, it will affect your credit.

Money Mart Loan Application Process

There are two main methods of applying for a loan from Money Mart. The easiest is their in-store option. You can walk in ahead of time without making any prior arrangements.

On their website, they give a list of their in store locations. This can help give you a good idea of what states they operate in. However, the downside is that they may not be operating in your area.

In these selected states, you can easily apply online for faster approvals. After waiting to hear back from one of their representatives, you can get approved. They will deposit the money into your checking account.

Money Mart Payday Loan Requirements

To apply online, you will need to live in an eligible state, provide recent proof of income, and give a checking account bank statement. Aside from that, you’ll need to provide your personal check from your checking account to verify you own the account. Lastly, you’ll need a valid email address.

States Where Money Mart Does Offer Loans

If that’s the case, then your second best option is to apply online. To do so, you’ll need to have some basic information on hand. Money Mart doesn’t operate in all states, so be sure to check if you’re in a state they can provide loans. Here’s a quick list;

  • California
  • Florida
  • Hawaii
  • Kansas
  • Louisiana
  • Arizona
  • Alaska

What Do You Need To Get A Payday Loan Online?

Because Money Mart has such a short repayment plan, you will need to provide proof of income. In exceptional cases, you may be able to be approved even if you don’t have a steady income. Cases like these would be inheritances, dividends, or any other means to prove you can pay back the loan.

What Do You Need To Get A Payday Loan In-Store?

On the other hand, you’ll need a few other bits of information when you’re applying in person. The first thing you will need is a valid checking account. From there, you’ll need to provide them your phone number and a valid email address.

They will also ask you for information for steady proof of income. If you can not provide that and are not over the age of 18, you will not qualify for a loan. Lastly, you will be asked to show them a valid government-issued photo ID. This can be your identification card, passport, or driver’s license.

What Time Does Money Mart Open & Close?

Their in-store locations operate from Monday through Saturday. Every weekday, they are open from 10 am to 8 pm in whatever state they reside. On Saturday, the store is generally open from 10 am to 6 pm.

Different locations may have varying operating times. So it’s best to keep that in mind when attempting to contact them.

However, if you need to contact them about a potential issue, ask questions about their services, or just want some consultation, you can use their online or phone customer support line.

Their live chat is very intuitive and makes getting a quick answer simpler. However, if you don’t want to have instant feedback or are too busy to sit down and type online, you can always call. Their national customer support number is 1-800-361-1407.

Our Conclusion

Money Mart has its merits, but its APR rate is one of the highest ones we’ve ever seen. If you can find a way to get emergency cash with lower interest rates or avoid loan companies altogether, we’d highly suggest it.

That being said, Money Mart is an excellent service when it comes to quick approval. Their in-store locations can have you walking out with cash in as little as an hour as long as you can provide some personal information and proof of steady income.

With any short-term loan companies, the cost of borrowing is going to be high. Money Mart is only valid for those with a steady income and who can pay back the borrowed money plus interest on time. If you can’t, your debt could grow exponentially higher.

In conclusion, we think that Money Mart’s fees aren’t that bad if you’re looking for fast cash. Other lending companies will have similar rates but longer repayment times. However, with those longer repayment times comes increased interest over months. We think Money Mart is a good option.

( 169 votes, average: 9.4 out of 10)