Loans like moneykey®

loans like moneykey

There are plenty of online loans comparable to MoneyKey when you need fast cash with bad credit. 

Unexpected bills can turn up when you least expect them and disrupt your life. Your car may break down and make it challenging for you to get to work on time or at all. But according to CNBC, motor vehicle repair prices have increased about 20% in the past year!1 High repair costs can force consumers to settle for bad credit loans that leave them worse off.

If you need immediate financial relief with bad credit, learn how you can find installment loans similar to MonkeyKey with affordable monthly payments.  

Finding the Right Personal Loan

If you are facing a financial emergency and require a quick solution, you may wonder which installment loan option is better than the rest. Unfortunately, there is no right answer for every financial situation. But you can find the right personal loan by asking yourself a few essential questions. 

When you need online installment loans, ask yourself these 5 questions to better determine which loan option is right for you:

  1. How much money do I need?
  2. How much can I afford to pay monthly? 
  3. Do I want a predictable payment schedule?
  4. How much time do I want to pay off my installment loan?
  5. How quickly do I need money?

Installment Loans vs. Payday Loans: Which Is Better?

An installment loan is a loan that provides a small to large lump sum of money based on creditworthiness, income, and other factors. Multiple lenders allow borrowers to repay their installment loan by making monthly payments for a few months or several years. Although, the minimum and maximum repayment lengths vary depending on the lender

A payday loan is a single-payment loan that typically provides a few hundred dollars. Unlike installment loans, payday loan borrowers must repay their entire loan balance plus fees in one lump sum. Most payday loans have a 2-week repayment process. 

Payday loans are known for having very high interest rates. Payday loan APRs range from 390% to 7,300%, with an average of 500%.2 These high rates greatly increase the total loan balance, which can make repayment unfairly challenging for borrowers. In contrast, the average APR for installment loans usually ranges from 5% to 36%.3 

While installment loans and payday loans both offer quick cash, financial experts often warn consumers against taking out payday loans. Unfortunately, it’s difficult to find a payday lender that is not also a predatory lender. Payday lenders tend to have unfair and deceptive loan terms, which is why many states prohibit payday loans or enforce interest caps and loan limits. 

If you need financial support, it may be in your best interest to use financial calculators online to determine exactly how much an installment or payday loan will cost.  

Installment Loan Terms You Should Know 

Before you submit an application for an installment loan, it’s critical to know the following loan terms. Knowing what these terms mean can help you avoid predatory loan terms and financial issues in the future. 

PrincipalThe original sum of money borrowed in a loan or the remaining balance of the loan excluding interest.
InterestThe cost of borrowing money, typically expressed as an annual percentage of the loan amount.
APR (Annual Percentage Rate)The annual rate charged for borrowing or earned through an investment, which includes fees and additional costs associated with the transaction.
TermThe length of time or duration over which the loan is to be repaid.
Monthly PaymentThe amount due every month to repay the loan, including both principal and interest.
Fixed Interest RateAn interest rate that remains the same throughout the entire term of the loan.
Variable Interest RateAn interest rate that can change over time, usually in relation to an index or benchmark.
DefaultFailure to repay the loan according to the terms agreed upon in the contract.
CollateralAn asset that a borrower offers to a lender to secure a loan. If the borrower fails to pay, the lender can take possession of the asset.
Credit ScoreA numerical expression based on a level analysis of a person’s credit files, representing the creditworthiness of an individual.
Origination FeeA fee charged by a lender on entering into a loan agreement to cover the cost of processing the loan.
Prepayment PenaltyA fee that may be charged to a borrower who pays off a loan before it’s due.

Loans Similar To MoneyKey: What You Need To Know

MonkeyKey is an online direct lender that provides short-term, unsecured installment loans and lines of credit. While payday loans were once offered in Texas, MonkeyKey has since discontinued offering this type of loan.  

MonkeyKey started in 2011, and their headquarters is located in Wilmington, Delaware. The company provides loans in various states, but they are only a direct lender in Delaware, Idaho, Kansas, Mississippi, Missouri, Tennessee, Utah and Wisconsin. In other states, such as Texas, MonkeyKey arranges loans as a Credit Access Business and a Credit Services Organization.

How Do They Work? 

MonkeyKey offers various financial products and services, but applicants may only have access to specific products and loan terms based on their state of residence. For example, Montana residents may only apply for a line of credit. Learn about MonkeyKeys different products below. 

Installment Loans

Installment loans from MonkeyKey range from $200 to $2,500. The loan term lasts between 6 months and 12 months. While you typically repay an installment loan over a series of monthly payments, borrowers can choose to make bi-weekly, semi-monthly or monthly payments. Installment loans are available in Delaware, Idaho, Mississippi, Missouri, Texas, Utah, Wisconsin. Installment loan borrowers can generally expect next business day funding. 

Line of Credit

MoneyKey offers the MoneyKey Line of Credit and the CC Flow Line of Credit provided by CC Flow, a division of Capital Community Bank. 

MoneyKey Lines of Credit are available in Kansas and Tennessee, while CC Flow Lines of Credit are available in Alabama, Alaska, Arizona, Arkansas, Florida, Hawaii, Indiana, Kentucky, Louisiana, Michigan, Minnesota, Montana, Oklahoma, and Wyoming. 

Eligible borrowers can get between $200 to $3,500. Borrowers can repay through bi-weekly, semi-monthly or monthly payments. But keep in mind that loan terms vary based on the applicant’s state of residence. Funds are generally available the same day. 

Who Are They For? 

MonkeyKey loans are for individuals with bad credit that need quick funding for unexpected expenses. The loan application process is typically quick and the eligibility requirements are usually easy to meet for most applicants. 

To qualify for an online loan through MoneyKey, you must:

  • Be of legal age to contract in your state of residence
  • Be a US citizen or permanent resident
  • Be a resident in the state where the product is offered
  • Have an active bank account
  • Have a reliable source of income
  • Have a valid contact number and an active email address

How Will the Application Process Work? 

A with most online lenders, the application process for a MonkeyKey loan only requires three basic steps. The first step is filling out an application form on the MoneyKey website. After submitting an application, you will need to verify your information with Customer Care by uploading images of specific documents to your online account to complete step two. Once your information is verified, the final step is getting your money deposited into your checking account. 

CreditNinja: How Does It Compare?

CreditNinja is an online direct lender that offers installment loans for all types of financial emergencies. CreditNinja has originated over 475,000 and helped over 275,000 customers since 2018. We currently have a 4.4 star rating on TrustPilot from 7,841 reviews. 

CreditNinja offers online loans with a convenient process, which means you can apply at any time when you need a quick cash loan. Our 3-step loan application process is simple and eligible borrowers could get their money as soon as the same day!*   

CreditNinja’s Installment Loans

A CreditNinja installment loan can help eligible borrowers obtain small to large loan amounts. Our flexible loan range allows you to take care of both small and large financial emergencies. 

We offer exclusive benefits and quality customer service to help our customers better manage their installment loans. Unfair loan terms and deceptive lending practices can help lenders make more money, but at CreditNinja we prioritize the customer experience. Take a look at some of the benefits you can look forward to below.

  • Fast Funding — Eligible borrowers can get their cash deposited directly into their bank account as soon as the same day!*
  • Easy Approval Process — We offer an entirely online experience that is convenient and fast. Our approval process only requires 3 steps that can be completed on our website or mobile application. 
  • Competitive Rates — Our rates are competitive to help borrowers better manage their loans. We also offer no prepayment penalties, so borrowers can make early payments to save on loan fees.
  • Exceptional Customer Service — Our customer service team is exceptional to better provide our customers with fast answers and solutions. Customers can easily get in touch with an agent over the phone or by email.  

Who Should Pick CreditNinja? 

Unfortunately, many lenders offer the same loan terms to all their customers. However at CreditNinja, we offer installment loans with flexible terms so individuals can get the right loan offer for their unique financial situation. No two customers are the same, that’s why we offer personalized loan terms for every customer.

While good credit is typically required to get personal loans, it’s possible to still qualify with CreditNinja despite bad credit. While we do conduct a hard credit check, we do not solely look at your current credit score. When making an approval decision, we consider your income, payment history, outstanding debt, and more. 

If we think you are capable of repaying installment loans on time, you may be deemed eligible with bad credit! Apply today to see if you qualify for fast financial relief. 

How Will the Application Process Work?

If you’re interested in applying for a CreditNinja personal loan, you will only have to follow these 3 easy steps:

Apply Online

Applicants can apply on our website or choose to download our convenient mobile app. You will be asked to submit basic personal information, such as your desired loan amount, name, mobile number, etc. Rest easy knowing our website is secure and your data is encrypted. 

Review Your Loan Offer

If you are approved for a CreditNinja installment loan, you will receive a loan offer. The loan offer will have your personalized loan amount, rate, and terms. Read over your loan offer carefully and reach out to us if you have any questions or concerns.

Get Your Money

Once you fully understand your loan offer, you can electronically sign the loan agreement! After providing your bank details through a secure bank verification process, you can get your money sent to your account via direct deposit. 

FAQs About Loan Options Like MonkeyKey

Can I pre-qualify for a loan similar to MonkeyKey without impacting my credit score?

Many online lenders offer a pre-qualification process that allows you to see potential loan offers without affecting your credit score. Pre-qualification is a great way to shop around and find the best terms for your situation.

What are the differences between a title loan and an installment loan like MonkeyKey?

A title loan is secured against the title of your vehicle, meaning the lender could take your car if you don’t repay the loan. On the other hand, installment loans like MonkeyKey are typically unsecured, meaning they don’t require collateral. Each has its own set of terms and conditions, so it’s important to understand the agreement fully before proceeding.

How quickly can I access funds once I’m approved for a loan similar to MonkeyKey?

Many online lenders aim to provide quick access to funds, often as soon as the next business day after approval. However, the exact timing can vary based on the lender’s processes and your bank’s transaction times.

How do I know if a lender offering loans similar to MonkeyKey is trustworthy?

Look for lenders who are transparent about their fees and terms, have good customer reviews, and are registered or licensed to operate in your state. It’s also wise to check if they have any unresolved complaints with consumer protection agencies.

What happens if I can’t repay my installment loan on time?

If you’re worried about making a payment, reach out to your lender as soon as possible. Many lenders are willing to work with you to create a new payment plan. Ignoring the problem can lead to additional fees and damage to your credit score.

A Final Summary From CreditNinja 

Most online lenders offer personal loans, but the best option varies from person to person. Every financial situation is different, and your financial needs may differ from someone else. In order to narrow down your options, consider how much money you need and how much you can afford to pay monthly. And remember that comparing online lenders can help you find the most affordable loan offer. 

CreditNinja is an online lending choice that provides fast funding, exclusive benefits, and competitive rates. But we also offer free financial resources on our website to help consumers improve their creditworthiness and spending habits. Our blog can help you learn how equipment financing works, how to make money without a job, and much more!

*Applications approved before 10:30 a.m. CT Monday-Friday are generally funded the same business day. Applications approved after this time are generally funded the next business day. Some applications may require additional verification, in which case the loan, if approved, will be funded the business day after such additional verification is completed.


  1. Car repair costs are up almost 20% over the past year | CNBC
  2. Payday Lending | Fordham University 
  3. Installment Loans | MonkeyKey
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Quick And Easy Personal Loans Up To $2500*