A Moneytree Payday Loan: Who Is It Suitable for and Is It Worth Considering

A Moneytree Payday Loan: Who Is It Suitable for and Is It Worth Considering


5 Min Read

Moneytree is a financial service that specializes in small personal loans with easy approval. However, its loans often come with very high interest rates and have limited availability as they can only be obtained in five states. Let’s find out whether Moneytree payday loan and personal loan options are legit and safe.

Pros and Cons of Moneytree Loans

Moneytree loans come with both advantages and pitfalls. Here are a few of them.


  • You can pay off the loan early with no penalties;
  • Poor credit may be accepted;
  • Loan amount between $100 and $5,000.


  • Moneytree loans are only available in five states;
  • Very high interest rates may be applied;
  • Hard credit checks are performed;
  • You may be asked to visit a branch in some states.

Features of Moneytree Loans

Let’s take a closer look at the main features of Moneytree loans.

Not all options can be obtained online

ISome financial products can only be obtained via a company’s local branch. This also depends on your state of residence. For example, Colorado borrowers can only get installment loans and must visit a store to apply. Also, signature loans and title loans are more likely to be offered via physical branches if they are available in your state.

Limited loan availability

The company only serves residents of five states. More than that, not all loan options are available in all five states. If you want to get a Moneytree payday loan, you must be a resident of California, Idaho, Nevada, or Washington. Installment loans are only offered to borrowers from Colorado, Idaho, Nevada, and Washington. Entrepreneurs who want to get business loans can obtain them in Idaho and Washington.

You can request small amounts

If you need a small amount just to make it till your next paycheck or cover some minor financial needs, the service can provide you with just a few thousands or even hundreds of dollars. You can request between $100 and $5,000, depending on the state and loan product.

Hard credit checks are performed

Moneytree typically checks your credit reports to estimate your creditworthiness. Thus, a bad credit history may be an obstacle to getting some loan options. Additionally, it can lower your credit score by a few points.

Origination fees may be applied

In some states, you may be charged extra fees, also known as acquisition fees or origination fees. They will be deducted from your initial loan amount, so you will get less than you expected but still need to repay the full amount plus interest.

Hefty interest rates

Some loan options offered by Moneytree can come with three-digit interest rates, making them extremely expensive. This can also lead to some potential debt traps if combined with short repayment terms.

Where Can You Get a Moneytree Personal Loan?

A Moneytree personal loan, which is simply an installment loan with partial repayment, is available in four states: Colorado, Idaho, Nevada, and Washington. California residents can only get payday loans via Moneytree.

Although it’s always a personal choice, a Moneytree loan should be considered carefully. Getting it can be a good way to cover small emergencies, such as car repairs, medical bills, or home improvement projects. However, the company’s loans come with high interest rates, so it’s better to consider other options first.

If you’re a credit union member, get a payday alternative loan, which is a cheaper and more flexible alternative to regular options till payday. You can also put some expenses on your valid credit card or ask about a payment plan if you face challenges with covering your medical bills.

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How to Apply for a Moneytree Payday Loan?

Residents of California, Idaho, Nevada, and Washington can apply for a Moneytree payday loan online or visit one of the local branches to complete the process in person. The entire procedure is usually simple and fast. You need to:

  1. Fill out an application form online or in a branch. You need to prepare your valid ID, bank account details, and income confirmation in advance to speed up the process.
  2. Get an approval decision. It usually takes a few minutes after you upload your documents.
  3. Get the funds. The money can be either deposited into a prepaid debit card or given as cash in a Moneytree branch.

When the maturity date comes, you need to repay the loan in accordance with your schedule. You can do it in a branch using cash, online, or over the phone using your debit card.

Final Thoughts

Moneytree is a legit financial company that serves residents of five US states. As it offers high-interest loans, it should be considered cautiously. It’s recommended to review some available alternatives first.


What Products and Services Does Moneytree Offer?

Moneytree offers payday loans, installment loans, business loans, title loans, and signature loans. There are also other services you can use. They include check cashing, wire transfers, money orders, and prepaid debit cards. Please note that some products may be unavailable in your state.

How Much Can I Borrow with Moneytree?

Each loan type has its loan amount limits. Moneytree payday loans usually come with amounts between $100 and $1,000, while installment loans can sometimes reach $5,000. The exact sum depends on your state.

What to Do If I Miss the Due Date on My Moneytree Loan?

If you default on a Moneytree loan, you will be charged a $25 fee for each payment that is returned unpaid. If it happens, contact the Moneytree payment center to discuss what your next step should be.

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Kerry Vetter

Written by Kerry Vetter

Written by Kerry Vetter

Kerry is a finance expert thanks to her Boston College education during the 1990s. Today she shares this valuable knowledge through the pen and online from her home in Chestnut Hill, Massachusetts. The years of experience results in relevant, practical and wise advice.

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