BMG Money Financial Services

BMG Money Financial Services Review

BMG Money Financial Services is offered by BMG Money, a nonbank financial services provider founded in 2009 and based in Miami, FL. BMG Money Financial Services are available in 50 states (and Washington, DC).

Key Takeaways

• APRs starting at 24.00%. Personal loan interest rates typically range between 5% and 36%. The starting rates for BMG Money Financial Services are on the higher end of the spectrum.
• Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your BMG Money Financial Services early.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for BMG Money Financial Services.
• Short loan terms. BMG Money Financial Services have loan terms as short as 6 months.

BMG Money loan Pros & Cons

BMG Money loan FAQ

What interest rates and personal loan terms does BMG Money loan offer?

BMG Money loan has higher than average interest rates for lenders reviewed on SuperMoney.

What fees does BMG Money loan charge?

What do you need to qualify for BMG Money Financial Services?

BMG Money Financial Services does not have or does not disclose a minimum annual income eligibility requirement. BMG Money Financial Services will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via BMG Money Financial Services. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by BMG Money Financial Services.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Recent bank statements
• Proof of insurance
• Driver's license
• Proof of identity
• Proof of citizenship or residence permit
• U.S. tax identification number
• References

Are BMG Money Financial Services legit?

BMG Money was founded in 2009, it is a well-established company that has been in business for 14 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.