MoneyTree can help you get a variety of different loans in the case of an emergency. The loans are quickly approved and ensure that you get money in your account when you need it. If you’re worried about credit, they aren’t strict on their credit checks. Luckily, MoneyTree also provides multiple types of loans. If you can’t afford a specific payment plan, there are more options although some loans come with very high APR rates.
The general repayments are payday, but MoneyTree will work with you to get the payment schedule you need. We want to ensure that you get the help you need, especially if it’s in time of a crisis. So, we’ll be delving deeper into MoneyTree and its practices.
Payday loans are short-term advances that are designed to give you emergency cash. They generally have a 30-60 day repayment schedule and should be paid back within one to two repayments. The amounts aren’t that big, but they have high-interest rates.
If you can’t make the payday loan repayments, then an installment might be better. They have extended repayment periods with lower APR rates. Installment loans are perfect for when you need instant funds.
If you don’t have good credit or verifiable income, you can still qualify for a title loan. Title loans assess your car’s worth, but you must have them paid off and own them. When you sign over the title of your vehicle as collateral, you’ll be able to get an advance.
The amount will vary on how much your car is worth. You can set up a payment plan, but if you miss a payment, the loan company can legally take your vehicle away.
The Borrowing Process for MoneyTree Loans
Borrowing money from MoneyTree requires that you apply online. If you’re applying during normal business hours, a representative can get back to you in as little as one hour for your approval. The funds can take up to three days.
After you fill out an application, you will need to wait until MoneyTree contacts you. This will either be through email or a phone call. They will contact you through the information you provided. Once they contact you, you can look over the advance amount and terms.
Select the repayment schedule that works for you. If you can’t, ask a representative to speak about the repayment schedule. Once you’ve reached an acceptable repayment, you’ll finalize the contract by eSigning.
Funds from MoneyTree take up to three days to appear in your banking account. If you need immediate funds, you can also request a prepaid card bought from MoneyTree. Alternatively, you can also visit their walk-in stores to get money at their physical stores.
Maximum and Minimum Loan Amounts From MoneyTree
It’s hard to get an estimate on the maximum amount of loans from MoneyTree. The reason for this is because MoneyTree operates differently in each state. In some states, payday loans are limited to $700. However, in other states, they are limited to just $255.
The best way you can get an estimation of the maximum amount for each state is to check their website. Click on the state you’re loaning from and then use the sidebar to select the “loan” options.
Scroll down until you see “How much you can borrow” and click on it. This will tell you what the loan limit is, how it’s calculated, and the maximum amount they can provide.