Monevo Review

BySally HerigstadDec. 30, 2020

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In a Nutshell

Monevo is an award-winning online marketplace that borrowers can use to compare loans for paying their taxes. With access to hundreds of loan companies and responses available in seconds, borrowers can quickly get money to pay their tax debts.

pros

  • Approvals for borrowers with fair to excellent credit scores
  • View rates without providing personal contact information
  • A+ rating by the Better Business Bureau

cons

  • Maximum loan of $100,000
  • Does not represent your before tax authorities

Monevo at a Glance 

Tax types
Federal, state, or other tax debts
Tax loan amount
$500 to $100,000
Repayment terms
3 to 144 months
Minimum credit score
550
APR
1.99 - 35.99%
Residency or citizenship requirements
Permanent residency or citizenship of the United States required
Suitable for
Borrowers shopping for a deal on a tax loan

Monevo Monevo Visit Monevo

Why Go with Monevo

When you need a loan to pay off tax debts, you want a loan marketplace that will give you a wide selection of lenders to choose from so you can get a favorable deal. According to the company, Monevo serves over 250,000 customers annually, has high customer satisfaction ratings, and has won awards for its service. Customers have financed over $1Bn in loans through Monevo.

Monevo has a relatively straightforward and streamlined process. It does not charge any additional fees. You can see up to 30 offers immediately, and you are under no obligation to proceed after viewing your rates. Many lending partners can send funds as soon as the next business day. 

What’s Offered

Monevo offers unsecured loans to pay tax debts. You can use the loans to pay any tax debts, including:

  • Federal income taxes
  • State and local income taxes
  • Property taxes
  • Business taxes, such as B&O taxes and payroll taxes

Pricing

Monevo does not charge borrowers a fee to use the loan marketplace. 

Fees and interest rates vary by lender. Tax loan APRs range from 1.99% to 35.99%, depending on your credit score, loan term, and other factors. You can see up to 30 lender deals at once to help you choose the loan that is right for you.

Suitable For?

You may want to use the Monevo tax loan marketplace if you owe taxes and don’t need help resolving or negotiating your tax bill. In addition, you may want to get a tax loan through Monevo if you don’t want to or cannot make installment payments directly to the taxing authorities, and you want to compare tax loans to make sure you are getting the lowest interest rate.

Monevo may be able to help you pay your taxes if you have a minimum credit score of 550, and you need between $500 and $100,000 to pay your tax debts. You must also be a U.S. citizen or permanent resident, be age 18 or older, and have a checking account.

Site Security 

Monevo uses the highest level of SSL encryption on its website to protect customer data. They also use firewalls to help prevent external access to their network. 

According to Monevo, it restricts access to your personal information to employees, contractors, service providers, and agents, to the extent they need to know the information only. Monevo only shares information with third parties if they are sure the third parties maintain the same security and privacy levels as Monevo.

As part of their services, Monevo may contact you by email, SMS, and telephone. You can always request this communication be stopped.

Help & Support

You can reach Monevo customer support in three ways:

Online customer service form

Phone support

Live chat option

Email

Physical Address

Monevo Inc.

8910 University Center Lane, Suite 400

San Diego, CA 92122

Contact Details

You can contact Monevo by email at supportusa@monevo.com.

The phone number for their U.S. offices is +1 619-536-0749.

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Monevo customer testimonials

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  • author
    James Tobin
    Jan 22, 2021
    Very easy

    Very easy, very fast and professional.

    ...

  • author
    Anthony Norris
    Jan 02, 2021
    Application process was seamless

    Application process was seamless. Funding was immediate after verification.

    ...

  • author
    John S
    Dec 31, 2020
    Couldn’t have been easier

    Couldn’t have been easier

    ...

  • author
    Tiffannie Pannell
    Dec 31, 2020
    Ryan was awesome

    Ryan was awesome

    ...

  • author
    Mark Renkert
    Dec 15, 2020
    Quick Awesome service

    Quick, fast and quick approval

    ...