Frequently Asked Questions

Our online application typically takes just 2-5 minutes to complete. You'll provide basic information about your employment, income, and the loan amount you need. Our AI-powered system then reviews your application and provides an initial decision within minutes.

You'll need:

• Valid government-issued ID
• Proof of income (recent pay stubs or tax returns)
• Bank account information
• Employment history

Most documents can be uploaded directly through our app. The entire process is secure and encrypted.

Yes! We accept applications from self-employed individuals. You'll need to provide tax returns for the last 2 years and recent bank statements showing business income. Our algorithm considers various factors beyond traditional employment.

We work with customers with a wide range of credit scores. While our best rates typically require a credit score of 600+, we evaluate each application holistically. We consider income stability, employment history, and other factors beyond just your credit score.

We perform a soft credit inquiry during the initial pre-qualification, which does not impact your credit score. A hard inquiry is only done after you formally request a loan, which may result in a temporary small decrease (typically 5-10 points) in your credit score. This is temporary and recovers quickly.

Our APRs range from 4.99% to 35.99%, depending on your credit profile and loan terms. We have no origination fees, prepayment penalties, or hidden charges. What you see is what you pay—complete transparency guaranteed.

Loan amounts range from ₦500 to ₦100,000, depending on your income, credit history, and profile. Our AI system evaluates your financial situation and recommends loan amounts and terms tailored to your needs.

Loan terms range from 12 to 84 months (1 to 7 years). Shorter terms mean lower total interest paid, while longer terms provide lower monthly payments. You can choose the term that best fits your budget and financial goals.

Once approved and after you sign the loan agreement (which you can do electronically), funds are typically deposited into your bank account within 24 hours. Many customers receive funds the next business day.

Yes, we allow co-borrowers on applications. This can be helpful if you're looking to strengthen your application or access larger loan amounts. Both borrowers must provide income documentation and go through the full application process.

Your data is protected with military-grade 256-bit encryption. We comply with all security standards including PCI DSS, OWASP, and industry best practices. Our systems are regularly audited by third-party security experts to ensure your information stays safe.

MoneyTree is a licensed lending company and complies with all state and federal lending regulations. We partner with FDIC-insured banks for fund transfers and settlement. Your personal funds are handled securely through these established financial institutions.

No. We will never sell your personal information. We only share information with credit bureaus as required by law and with third parties who help us process and service your loan. Your privacy is a core value for us.

MoneyTree maintains ISO 27001 certification for information security management, SOC 2 Type II compliance, and industry-standard security certifications. We're regularly audited and maintain the highest security standards in the fintech industry.

We accept multiple payment methods including:

• Bank transfers (ACH)
• Debit cards
• Credit cards (processing fees may apply)
• Automatic withdrawals from your bank account
• Our mobile app

Yes! We highly recommend setting up automatic payments. You can link your bank account and schedule automatic withdrawals on your loan's due date. This helps you avoid missed payments and keeps your credit score healthy.

Absolutely! We encourage early repayment. There are no prepayment penalties, so you can pay off your loan anytime without additional costs. Early repayment saves you interest and helps build your credit faster.

If you miss a payment, we'll contact you to help arrange a solution. Late payments may incur fees and can negatively impact your credit score. We offer flexible payment arrangements and hardship programs to help customers facing financial difficulties. Contact our support team immediately if you're having trouble making a payment.

Yes, you can request to change your payment date up to twice per year through your MoneyTree account. Changes typically take effect within 1-2 billing cycles. Contact our support team for assistance with payment date changes.

Yes! Every on-time payment is reported to all three major credit bureaus (Equifax, Experian, and TransUnion). Successfully managing a MoneyTree loan demonstrates your creditworthiness and can significantly improve your credit score over time.

Credit score improvement varies based on your starting score and credit history. Generally, making on-time payments over 6-12 months can improve your score by 50-100 points. Lower starting scores typically see faster improvement with consistent, responsible payment behavior.

We report your account to credit bureaus monthly. Most lenders update credit bureaus on a similar schedule. Your loan activity should appear on your credit report within 30-45 days of funding.

We work with customers with all credit profiles, including those with poor credit or no credit history. Our AI evaluates multiple factors beyond credit scores, including income stability and payment history. A MoneyTree loan can be an excellent way to build or rebuild your credit from scratch.

Yes! We offer free financial education resources, credit-building guides, and personalized advice through our app. Our Credit Coach feature provides personalized recommendations based on your profile. Plus, consistent on-time loan payments directly improve your credit score.