Personal Money Service is an online loan marketplace that was founded in 2013 in San Bruno, California. The company assists borrowers with both bad and good credit to receive access to small business loans, merchant cash advances, and business lines of credit. Personal Money Service offers debt consolidation, mortgages, and various insurance options as well. Personal Money Services does not provide loans themselves, but matches qualified borrowers with customized loan options from third-party lenders.
Small business loans through Personal Money Service are best suited for those with bad credit who need money quickly to finance their business. There are no minimum credit score requirements. Unsecured loans are available without need for personal collateral or credit check, but borrowers will need to have high credit scores in order to be approved. According to the corporate website, borrowers do not need to cover repayment fees early and can choose the terms and conditions.
Loans accessed through the third-party lenders are best for short-term business needs, such as inventory purchases, marketing, and accounts payable purposes.
- No requirements for length of time in business
- Personal collateral may be necessary in most cases
- No minimum credit score needed
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