MoneyMutual Reviews: Top Payday Loan Lender For Bad Credit Loans & Emergency Loans In 2022

Sometimes when you’re in a rush and need fast cash, you’re probably wondering where to find it. When the global pandemic hit, many people were left without a job and going through hard financial times. A loan is an option that can help many people in situations like if their car breaks down or they need money to buy groceries. These types of situations can happen to anyone and are very common. Due to this fact, many people are taking short-term loans.

In these new times, even that’s possible. You can apply at any of the short-time loan companies and be able to pay this month’s rent or the unexpected bill.  For those purposes, we have found a payday loan network called Money Mutual. Based on multiple sources from their own website and customer experiences, we hope this article will be helpful.

What is Money Mutual? 

Money Mutual offers an excellent short-term remedy with its wide range of loan lenders willing to work with people who even have bad credit loans. Money Mutual is a short-term loan network whose main task is to connect people who need loans with borrowers that will provide those funds. This website provides over 60 lenders, and a few simple steps can easily direct you to a local loan provider. You can apply for different types of loans, which we will discuss later. Access to their website is easy. You must complete a couple of necessary forms to apply for a loan. They will send your application to multiple lenders, and you should wait until you start receiving different offers.

This is an easier process because you are filling out only one form, not 60 times for each lender, if you visit every lending site. This service acts as a middleman who provides you with money quickly and easily. This network is great if you need short-term loans without additional expenses and fees. Even more exciting and attractive is that Money Mutual has opened its doors even to people with poor or bad credit scores.

Key Points

  • It connects people with more than 60 short-term lenders: Money Mutual doesn’t just connect you with one lender. They’ve built up an extensive lender network who are all competing to give you the best deal on your loan. Therefore, when you apply with Money Mutual, they’ll match you with the lender that offers the best rate and term for your situation.
  • Clients need to fill out a form: You’ll have to fill out an application form before you can apply for any type of loan offered by Money Mutual. This application process takes a few minutes to complete. It asks for basic information like your name, address, phone number, and income sources. The information you provide to lenders helps them to make their decision about whether or not to finance your loan request. This information also helps them determine your eligibility for financing options such as credit cards or personal loans. Once you submit this form, they will match you with the lender who offers the best rate based on your financial situation and credit score.
  • Allow easy access to dozens of lenders at once: Money Mutual offers an easy way to find a lender who can meet your needs. Users can connect with multiple lenders at once, allowing them to compare and contrast loans from different companies. This process will enable you to choose the best loan for your needs without having multiple applications.
  • Available educational resources for the clients to understand the loans: The website offers educational resources for clients who want to learn more about short-term loans, such as payday and installment loans. These resources include articles on how much money you can borrow. What interest rates do they usually charge, how much time it can take to receive payments, and other vital tips regarding getting cash quickly without any credit check required.
  • The website is easy to use: The website is easy to use and has an intuitive interface that makes it simple to navigate. You can search for loans by category or location, depending on what you’re looking for. You can get started on Money Mutual in less than five minutes, and the entire process takes less than a day.
  • Once you apply for a loan, you have no more business with Money Mutual: If you need to contact them about an issue with your loan, you should do so through the lender who lent you the money. The website provides excellent service for people who want to borrow money quickly.
  • No protection for loan issues that might crop up: Since this isn’t a traditional bank or other financial institution, these problems are less likely to occur than they would be elsewhere.

=> Click here to visit the official website of MoneyMutual

Features Of Money Mutual

Money Mutual provides the ideal way of finding short-term loans from local lenders if you don’t want to call up dozens of potential lenders individually. Such an option can save you time wandering around.

Especially if it’s your first time, you might find it overwhelming to apply to 60 or more individual local lenders. The users can access a loan by only filling out an application form through the official Money Mutual website, where your offer will be directly sent out to all the 60 short-term lending companies.

Once the application form is sent, you no longer have business with Money Mutual. This working model helped many people and showed that it’s useful and convenient. Money Mutual doesn’t determine the amount of money offered, the interest rate, the loan term, or any other important key points. The users are the main people who must read the terms and conditions carefully before agreeing on anything or signing any form of contract. After reviewing the offer, it’s your decision whether you want to accept the loan or you’ll keep looking for other offers.


  • No extra fee expenses
  • Simple application process
  • Borrowers will get the money within hours
  • The funding process is fast
  • Educational resources
  • More than 60 lenders
  • People with bad credit loans can also apply


  • Some loans may not be available in your state
  • No defense against loan issues after you sign

Services Offered By Money Mutual 

This platform connects people with many short-term loan providers offering several different loan types. The loans might not be ideal in terms of interest rates or satisfy your personal needs. However, everyone can find something that suits them. After receiving the offers, it’s vital to thoroughly read the terms and conditions and decide whether you want to sign a deal or move on and search for other offers.

  • Payday Loans

One of the most common short-term loans is the payday loan. As its name says, these loans provide borrowers with a short-term cash infusion to make it to the next payday. The Loans are ideal if you want to pay a bill or buy groceries before payday. This type of loan might be cheaper when it comes to the interest rate than if you allow the bill to accrue a late fee or another loan to rack up interest.

If you apply for these loans through Money Mutual, you must remember that they must be paid off on your next “payday,” and you must provide a date when you seek access to their network. The process continues with your authorization from the lending company you’re borrowing money from to withdraw a payment from your bank account on your payday. On the other hand, even though cheaper in one way, payday loans have very high-interest rates and very high finance charges.

This might be an expensive way to borrow money, so make sure that you’ll always have money to pay them off the next day. This is crucial if you don’t want to be trapped in debt. When comparing and choosing a payday lender, it is crucial to consider some things. You probably need the money fast if you’re looking for a payday loan. Therefore, you don’t want to deal with a company that won’t get your money to you quickly or easily. Look for companies with good reputations and plenty of online reviews from satisfied customers. Applying for a payday loan shouldn’t be difficult or time-consuming. Look for companies that make it easy for applicants to get started by providing an online application, which you can often complete in less than 10 minutes.

Payday loans are meant to be short-term solutions, but if you’re denied because of poor credit, it might not be worth taking out a loan. Look for companies with high approval rates so your chances of receiving the funds you need will be better than average. The APR (annual percentage rate) should be lower than 400 percent. The APR is the cost of borrowing money expressed as a yearly interest rate.

A higher APR means the borrower pays more money over time. The fees a lender charges should be reasonable. Fees may include application fees, processing fees, late payment, and returned check fees. They may also include redemption fees if you pay off early or more than one loan at once. The best lenders charge no more than $10 in fees per $100 borrowed or rolled over into new loans.

  • Installment Loans

Installment loans are also prevalent through the Money Mutual network of lenders. You should pay back these types of loans over a set of a number of payments, and you must agree to that condition.

These are perfect for those who have discipline and ideal for people who want to avoid higher fees and interest rates common with payday loans. When considering this type of loan and agreeing to take it, you must be very careful. Why? Because some of the loan’s terminology, i.e., terms and conditions, may guarantee that you must make some interest payments based on the loan repayment date. Still, there are many benefits to taking out an installment loan.

You have time to pay back the money. Payment terms vary from one lender to another, but most installment loans will give you at least 12 months to repay the debt. You can use that time to save up for the payment and avoid falling behind on your bills.

There are no credit checks required. If you don’t have good credit or poor credit history, options are still available. Installment loans don’t need a credit check, so it doesn’t matter if your score is low or nonexistent. You can still get approved for an installment loan with bad or no credit history. Besides

  • Bad Credit Loans

These loans are identical to the previous loans, said they are qualified like them. These are loans with lower eligibility requirements with a potential higher rate and are more suitable for people with bad credit scores. Money Mutual provides this service since people with bad credit scores need them the most.

It’s easy to get those funds because the lenders will look for other factors rather than the credit score when deciding the worth of the loan. The lender’s job is to examine the proof of your monthly income or other financial factors such as previous loans or any kind of debt.

If everything is under control, you can secure a loan to repair your car, buy something you need urgently, or pay the late bills that would otherwise charge you a fee you can’t afford. Money Mutual is one of the best platforms for connecting people with lenders. People are satisfied and happy with its services and the customer-friendly relationship, so this is why we are doing this Money Mutual review.

Since the demand for bad credit loans has increased these past years, this network has helped many people who are in desperate need of finances.

  • Cash Advances

This term is sometimes used interchangeably with payday loans. The difference between the previous loans and cash advance is that this one allows you to pull out a certain short-term loan of cash regardless of the borrower’s existing line of credit for bill-paying or similar purposes. For example, you can often take cash advances with a credit or a debit card, even if you’re at the credit limit. The Money Mutual network will connect you with lenders offering only cash advances.

Similar payday loans have high-interest rates and high fees. A cash advance is an excellent option if you need to pay in cash, and there’s no option to rely on an electronic payment method. The benefits of cash advances are that the application process for a cash advance loan is extremely fast and easy. You can usually have your money from your initial application within 24 hours. This makes them ideal when you need cash quickly and cannot wait for a traditional bank loan.

The loans are easy to repay on time without incurring penalties or additional fees. The repayment terms are also usually flexible, so you don’t have to worry about having trouble making payments or paying more than the minimum amount due.

Unlike other loans, a cash advance doesn’t require collateral or security to be given up by the borrower to secure the loan. This means that even if you don’t have any assets or property that can be used as collateral for the loan, you may still qualify for one if there is enough information about your credit score and income available on your application form.

Who is Eligible to Get a Loan from Money Mutual?

Money Mutual doesn’t determine the requirements for each of the lenders, but it does have its requirements. The essential eligibility criteria are standard and include:

  • You must be 18 years old
  • You must be a US citizen and permanent resident
  • You must have a regular source of monthly income
  • You must have a valid checking account

If you’re meeting these conditions, your chance of getting at least a few loan offerings from many companies in the network is raised. The account is needed because the lenders should deposit your money quickly, and in the case of payday loans or cash advances, the lender can withdraw their payment on the payday.

Money Mutual’s Income Requirements

One of the requirements of Money Mutual is the monthly income. They require that the borrower must earn at least $800 every month. You should also specify where you make this money, and the source will determine the eligibility for a specific loan.

However, even if you fulfill these requirements, there’s no guarantee that Money Mutual’s network lenders will contact you. The decision is up to the individual agencies that determine the worth of the loan. Money Mutual won’t reach your employer, but the potential lender will.

Money Mutual’s Loan Approval Process

The Money Mutual loan approval process is simple, followed by multiple steps, and very straightforward. People these days tend to use this platform only because the application and loan approval processes are fast and free.

Everything is done online, so you don’t need to go from office to office daily. The approval process takes place in several steps:

  • Write the zip code on their main website
  • Fill in your name, email, and other identifying information
  • Enter the phone number for text updates
  • Explain the primary source of income, address, and additional information about the living situation
  • Provide the monthly income and proof of the same
  • Select the bank account, how often you’re paid, plus the next two pay date
  • Write the employer’s names and other identifying information
  • Enter the state’s ID number, driver’s license number, or state information
  • Enter your whole bank routing number and account number
  • Submit all information

The approval should only take a couple of minutes if the application form has been completed. After they receive the form, they go through their conditions and decide what type of offer they should send you. However, the entire process is fast, so you won’t be waiting too long for feedback.

How Long Does It Take to Receive Funds Through Money Mutual’s Lending Network?

Sometimes this process might be postponed, but you’ll be lucky if you’re connected with lenders within minutes.

At the exact moment when you apply for a loan, Money Mutual immediately begins the loan approval process by searching for lenders in its lender’s network. Each person has a specific loan, and the approval process will involve a review by both lender algorithms and human eyes before you receive a particular offer. Due to this fact, you will probably wait a couple of days.

When it comes to the borrowers and Money Mutual clients, they don’t have a problem with this. When you receive loan offers, you have a chance to choose and compare them. You should read the terms and conditions since we don’t want you to get surprised later with the interest rates or fees. After you have decided to accept the loan, the lenders will try to fund your account within 24 hours or at least a single business day.

This is great because the funds will be immediately available for you to start using them. This is crucial for those who need the loan, and people love doing business with Money Mutual.

How Much Money Can You Borrow From Money Mutual’s Network?

This factor depends on many things. The exact amount of money mostly depends on the given loan. Money Mutual connects you with more than 60 lenders, with many options in-game. People use this service mainly for bad credit loans and payday loans. In some states, the laws allow capping the maximum amount of money you can get from a payday or short-term loan.

You might not be allowed to get more than $1000 for a given payday loan according to the regulations of the state that you’re living in. This service, however, advertises loans up to $2500, which is a reasonable upper limit to expect. Also, they provide smaller loans beginning from $300 or $500, which are very common and most demanded.

Money Mutual’s Fees and Costs

Every user or client of Money Mutual is free of expenses. This platform offers free service for all borrowers, and you might find it surprising since you’re probably expecting to be charged for something. You have no expenses, but the lending companies have. Money Mutual earns money by charging small fees to lending companies for their services of connecting them with many borrowers.

This is another positive thing about this platform and why people are happy using its services. They also feel safer and calmer when applying because they have no other worries about extra expenses. Aside from the interest rates, you must be aware that many payday loan companies charge small fees based on how much you borrow.

You can expect an average of $15 added on top of every $100 you borrowed for a standard payday loan. However, lenders are free to charge whatever they desire, including repayment, late, or administration fees. That’s legal and must be spelled out in any loan a company offers, and this is why you must carefully read the contracts to protect yourself from spending too much money.

Money Mutual’s Interest Rates

The interest rates are heavily dependent on the individual lender. Payday loans and cash advances have the highest interest rates compared to installment loans and bad credit loans. According to this service, the average rate for their lender’s bad credit and payday loans hover between 200% and 1300%.

Some states have laws protecting borrowers by limiting the interest rates from getting too high. The terms, in general, are the following:

  • Terms for payday loans and cash advances are between 2-4 weeks
  • Installment loans typically have terms of one to six months and even go up to a year
  • Bad credit loans have short terms of a few months up to a year

Why Choose Money Mutual Loans?

Money Mutual is a helpful service that makes the approval process for bad credit or payday loans easier than everything. This platform tracks down different companies and compares them. Money Mutual compares the companies’ loans and your situation by filling out one form. After that, a decision is created.

The website is straightforward, and the loan approval process takes a few minutes. The overall site is secure and confidential, so your identification, bank account, and the rest are not at risk. The most significant advantage is that Money Mutual doesn’t charge extra fees for the services, which is very nice since it would be more challenging for people with bad credit scores to have additional expenses.

Especially if you won’t feel scammed or manipulated, even trying to take advantage of you. If you ever feel like you don’t know enough about the loans or how everything works, Money Mutual provides much educational information which can be very useful. You can read about the loan types and all the tips that users practice to avoid predatory loans or fees that might trap them in higher debts.

The biggest strength of this platform is its speed. If you take a loan the traditional way, you’ll spend many days going around and still won’t receive the appropriate service you need. That process is more complicated, and many more factors will be considered. With this platform, you have the chance to be funded in less than 24 hours. The approval process may take only a few days, but the users say it’s not a big deal.

FAQs About Money Mutual For Personal & Payday Loans 

Q1. Is Money Mutual safe?

Money Mutual is the number one option for many customers who have shown gratitude for using this website. It’s a legit and safe service with more than 60 lenders. This means that it’s a proven platform in the loan market. This website is also part of the Online Lenders Alliance, which guarantees that the lenders are part of this network by industry standards and don’t offer predatory loans.

The process made by Money Mutual is secured by 256-bit encryption. Its operators perform daily scans to take care of the intrusions or prevent malware from giving out the client’s information. Norton, a known antivirus company, powers the security system. Overall, Money Mutual is more than a safe and confidential platform to use.

This is also proven by the users who have had excellent experiences. According to them, they felt safe using it and were served very fast. Another good thing that proves this is a high-quality website is that users aren’t charged any additional fees. It’s immensely customer-friendly, easy, and simple to use.

Q2. Do Money Mutuals’ loans require a hard or soft credit check?

They don’t cause these types of checks, but you should know the lenders you’re connected with. They’ll check your credit score with one of the three big credit bureaus: Experian, Equifax, and TransUnion.

Specific lenders will need only soft credit checks, while the others will require hard credit checks. What they prefer is often considered as the loan they’ll offer. However, the soft credit checks won’t impact the credit score, but the hard ones will.

Q3. For any short-term loan taken, does the credit get impacted? 

No, it won’t. The short-term lenders don’t report to big credit bureaus just to take a loan out since the loan is often so short-lived that they don’t make an item for the credit report. The lenders will report if the borrower doesn’t pay off the loan. You must keep an eye on these kinds of things.

As the loan term ends, you must ensure it doesn’t get penalized unfairly. The first step here is for you to know how to understand the credit report. No matter if your credit scores are good or bad, you’ll be given the money you need, but the only thing you must pay attention to is paying off the loan on time.

Q4. Is Money Mutual a scam?

This platform is certainly not a scam. Just because it provides so many good services and doesn’t charge for using the website doesn’t mean it’s a scam. We understand that many people are confused about the customer-friendly offers, but this network’s purpose is to help people who need finances.

However, let’s not forget that Money Mutual isn’t a lending organization, meaning they aren’t giving you the loan. Their main task is to connect you with lenders who will consider your application, and according to their requirements, the loan decision will be made. Money Mutual acts like a middleman.

Q5. Is Money Mutual a direct lender?

Money Mutual is not a direct lender and does not provide personal loans directly to consumers. Instead, the platform works with carefully selected partners to offer their members the best rates and terms available in each market.

Working with different lenders can provide you with more options when you need a loan. Each lender has funding requirements, so please read the loan disclosures carefully before choosing a loan.

Q6. Why does Money Mutual ask for bank info?

Money Mutual will ask for your bank account information to verify the legitimacy of your bank account and to ensure that you can repay the loan. The company will use this information to deposit funds into your account as soon as possible after receiving your application.

Q7. Does Money Mutual contact your employer?

No, Money Mutual will never contact your employer in any way or form. All information you provide during the application process is confidential and will never be shared with anyone else without your express permission. Besides, Money Mutual is not a lender, and your employer will not know that you have applied for a loan with them.

Q8. How fast is Money Mutual?

The site’s lenders approve most loans the same day you submit the request, and they have clients in almost every state. The time it takes to get your money depends on how quickly you can review their terms, complete the application, and submit any additional information they may need. => Click here to visit the official website of MoneyMutual

Conclusion: Is Money Mutual a Legit Site?

In this Money Mutual review, we can conclude that this company is your best choice. According to everything we have read, the client’s experiences, and all services this platform offers, you’ll find every kind of loan you’re looking for. Applying for a loan has never been easier. With Money Mutual, you’re only a few steps away from getting that money. As we’ve come to the end of this article, we also realized many people are looking for extra cash these days. Mainly because a global pandemic hit us, people worldwide, just like in the US, have been left without a job.

Taking a loan was the only left choice for them. Due to this, Money Mutual has provided and secured many people with the funds they needed. To be more precise, this platform only helped them find a suitable lender with a loan offer that corresponds to the borrower’s personal needs. If you need a short-term loan and are scared because of your bad credit score, the fear is over with this platform.

Money Mutual helps everyone. Visit their website, fill in the application form, wait for approval, and the funds will be transferred to you within 24 hours or a single business day.

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