In this Comparison
There are some online lending marketplaces that aggregate the best personal loan offering around today, allowing you to quickly gauge the different options on offer in a very efficient manner.
This review will focus on what LendingTree, Monevo, and Fiona marketplaces have to bring to the table in this regard.
 |  |  | |
|---|---|---|---|
APR Range
The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
| As low as 3.99% APR
| 2.49% – 35.99% APR
| 4.99% – 35.99% |
Term
The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
| 12-84 months | 3 – 144 months
| 24 – 84 months
|
Loan Amount | $1,000 – $100,000 | $500 – $100,000
| $1,000-$100,000
|
Minimum Score | 580 | 600 | 620 |
When to Consider LendingTree?
LendingTree has been around since 1996 and has catered to the needs of millions of customers during that time, offering many different variations of personal loans.
LendingTree can be a better option if you:
Need a small loan
Have poor credit
Want to initially avoid a hard credit check
When Monevo Shines?
Monevo is a lending marketplace that works with more than 100 lenders and has offerings all across the world including the United States.
Monevo can be a better option if:
Wide variety of available lenders
Have poor credit
When Fiona Is Better?
Fiona claims to be the fastest and easiest way to comprehensively search for the best persona loan lenders.
Fiona can be a good fir if you:
Want any easy to use offering
Need access to other types of financial services
Application Process
LendingTree offers a quick and efficient application process, with loan amounts ranging from $1,000 to $50,000. Typically, you’ll need a credit score of at least 600 to qualify for a personal loan. Monevo, on the other hand, provides a wider range of loan sizes, from $1,000 to $100,000, and accepts applicants with credit scores as low as 580.
Fiona typically accepts loan applications starting at $1,000, with a maximum of $100,000, and usually requires a credit score of 620 or higher. Like LendingTree and Monevo, Fiona requires applicants to be at least 18 years old and a US citizen, visa holder, or resident. However, Fiona has a higher age requirement of 21 for personal loan applications.
LendingTree - Pros & Cons
- Good Range of Loan Sizes
You can get a nice range of loan sizes from LendingTree, having one of the lowest minimum loan sizes around on the market today.
- Soft Credit Check
You can assess all of your personal loan options through LendingTree without having to initially comply with a hard credit check.
- Accepts Lower Credit Scores
LendingTree will consider applications from people who have a credit score of just 600, which is a low enough barrier to entry.
- Origination Fee
Most of the personal loan options you will come across with LendingTree will carry some sort of an origination fee.
- No Mobile App
LendingTree does not have a mobile app that allows you to carry out key functions relating to your personal loan.
Monevo - Pros & Cons
- Big Range of Loans
Monevo has one of the best ranges of loan sizes around today, starting at $1,000 and going as high as $100,000.
- No Hard Credit Check
When you initially gauge your different personal loan options through Monevo, you will not have to submit to any sort of hard credit check.
- Deals With Bad Credit
You can have a credit score of just 580 and still be able to submit an application for a personal loan through Monevo.
- Origination Fee
There is an origination fee in place on Monevo loans.
- Huge Range of T&Cs
As there are so many different lenders to choose from, the requirements can vary widely with all of these options.
Fiona - Pros & Cons
- Varied Laon Sizes
Like the other lending marketplaces, there is a decent range of loan sizes available through Fiona.
- Range of Other Products
As well as personal loans, Fiona offers a huge range of other financial services, including refinancing, savings accounts, and credit cards.
- Easy to Use
Fiona has a website that is extremely easy to use and allows you to get started with your personal loan journey in no time at all.
- High Minimum Loan
The smallest loan that you can get with SoFi is $5,000, which is quite big when it comes to a lot of situations.
- Slow Funding Time
The time in which it can take you to get your hands on your borrowed funds from SoFi can be as much as a whole week.
Customer Experience
LendingTree | Fiona | Monevo | |
|---|---|---|---|
iOS App Score | 4.8 | N/A | N/A |
Android App Score | 4.7 | N/A | N/A |
BBB Rating | A+ | A+ | A+ |
Contact Options | phone/mail | phone/mail | phone/mail |
Availability | 8 am – 9 pm (EST) | N/A | N/A |
LendingTree provides you with a good range of information and resources on its website if you want to learn more about personal loans. The support team can be reached seven days per week, but no mobile app is available. The Better Business Bureau rating for LendingTree is A+.
Monevo has a good reputation for only dealing with the most reputable lenders around in the space today. It has a high-quality support team and it has a Better Business Bureau rating of A+. Fiona has a good track record for having an extremely easy-to-use offering. It also has a good FAQ section and a decent support team. The Better Business Bureau does not currently accredit Fiona.
Which Personal Loan is The Winner?
Each of these lending marketplaces has a good track record in the space. They all generally deal with people who have lower credit scores and offer a good range of loan sizes.
Fiona stands out for having the easiest to use offering, a swell as also offering a wide range of types of financial services. Then Monevo and LendingTree in particular will be good options for people who have poor credit.
| | | |
|---|---|---|---|
APR Range
The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
| As low as 3.99% APR
| 2.49% – 35.99% APR
| 4.99% – 35.99% |
Term
The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
| 12-84 months | 3 – 144 months
| 24 – 84 months
|
Loan Amount | $1,000 – $100,000 | $500 – $100,000
| $1,000-$100,000
|
on LendingTree website |
on Monevo website |
on Fiona website |
FAQ
Fiona has a significant network of lender partners, but these companies tend to specialize in particular areas of lending. For practical purposes, you are likely to see loan deals from 5 or more lenders that are best suited to your requirements.
This means that you can connect with lenders who specialize in fair, good, bad, or excellent credit according to your financial profile.
Since Fiona is an aggregator, connecting you with lenders in the marketplace, there is little room for negotiation. You’ll be able to compare the loan search results to determine which represents the best deal for you.
If once you have your loan, you want to negotiate a settlement figure, this will need to be done with the specific lending company who issued your loan.
Fiona allows you to compare a number of financial products. In addition to personal loans, you can search for credit cards, savings accounts, and student loan refinancing.
However, at this time, Fiona does not provide access to auto loans or home loans. If you may also need one of these products, there are other aggregator services that allow you to also search for these types of deals.
This will depend on the specific lender. Although the initial inquiry form does not have an option for adding a cosigner, there are a number of lenders who do allow this. This may permit you to increase your loan amount or access a lower rate. However, the initial loan deals displayed will be tailored to your existing credit profile without the support of a cosigner.
The sole purpose of Fiona is to allow potential customers to search for loan deals and prequalify. Once you submit an initial inquiry, Fiona will perform a soft credit check to determine which of its lending partners could offer the deals best suited to your specific circumstances.
This means that you won’t waste your time inquiring for loans that are designed for people with a different credit profile to you.
This will depend on the specific lender. Some Fiona lending partners do not impose a prepayment penalty, but others may.
You will have an opportunity to check the loan terms of each loan deal from your comparison to check for details such as prepayment penalties before you decide to proceed with a specific deal.
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LendingTree vs Upstart vs SoFi
Each of these online lenders has many similarities as well as some significant differences. LendingTree is a good option if you want a flexible repayment plan, whereas SoFi is geared toward people with good credit who need a large loan. Finally, Upstart works with people who may not have the best credit and provides very quick access to borrowed funds.
Read Full Comparison: LendingTree Vs Upstart Vs SoFi: Where to Shop For a Personal Loan?
LendingTree vs Credible
Both of these lending marketplaces have a lot going for them. LendingTree is a good choice for people with lower credit scores and if you want a wide variety of lenders.
Credible has a more focused offering and can provide you with large loans if necessary.
Read Full Comparison: Credible vs LendingTree: Which Personal Loan Marketplace Wins?
