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Key takeaways

  • MoneyMutual is an online loan marketplace. It connects users with lenders willing to consider applications from borrowers with less-than-perfect credit scores.
  • The platform allows users to fill out a single application to potentially reach multiple lenders. Users can then compare offers without charge and apply for the best loan.
  • MoneyMutual makes it easy for anyone to get a loan. Even so, it’s important to carefully review the terms and fees associated with any loan offer.

When you need emergency cash and your credit score is low, consider MoneyMutual. More than two million people have secured short-term personal loans from the online loan marketplace for up to $5,000 in as little as 24 hours. When traditional banks turn you down MoneyMutual is there for you with its large network of online lenders. Interested? Let’s explore how one of the biggest online loan marketplaces can help you. 

What is MoneyMutual?

MoneyMutual is a renowned online loan marketplace that connects borrowers with potential lenders from across the country. You can find short-term loans – personal loans, installment loans, payday loans – from $100 up to $5,000. MoneyMutual was established to simplify the loan application process and make it so that everyone can access the cash they need in an emergency, no matter their credit score. All you have to do is fill out one form. Lenders will then consider your application and make offers within minutes. You can see what loans you prequalify for without a credit check or applying to each lender individually, saving you tons of time. If you choose to accept a loan offer, you’ll work directly with the lender for the rest of the approval, funding, and repayment process.

Why Choose MoneyMutual Loans for Bad Credit

No Cost for Shopping

One of the significant benefits of using MoneyMutual is that it’s free to use. The platform allows you to fill out one form and then browse and compare different loan offers without any charge. You never pay anything to MoneyMutual, but if you select an offer, your online lender may have fees.

Receive Funds Quickly

Once a loan is approved, you will receive your money fast. In some cases, in as little as 24 hours. The exact amount of time depends on your lender and bank but it is usually no more than one business day. It can take longer if you accept a loan on a weekend, holiday, or any other non-business day.

Can be Used for a Variety of Purposes

Loans obtained through MoneyMutual are for anything you need. Be it for an emergency, bill payments, or any unforeseen expenses, you can use your loan from MoneyMutual for anything you like.

Safe and Secure Platform

Security is paramount at MoneyMutual. Your information is protected with AES256 bit encryption and MoneyMutual has TrustedSite scan its platform daily for security risks.

Money in No Time

“I saw the commercial on TV and called the 1-800 number. The customer service was very consistent. I had my money in no time at all. They offer all kinds of loans for all kinds of things. My repayment options are taken out on a monthly basis which is better for me. I can pay. The additional fees is not too bad. It’s almost like going to an Amscot in paying them back. I would recommend them to family and friends.” Jamie

How Does MoneyMutual Work?

1

Fill out one form.

2

Your information is reviewed by potential lenders

3

Lenders make you an offer

4

Review your offers and choose your loan

5

Get your money in your bank account in as little as 24 hours

MoneyMutual is not a direct lender. It is a loan marketplace whose form connects you with 78 online lenders. The form only takes 5 minutes to complete, less if you’re a returning customer. You do have to enter some personal information, including the state you live in, your zip code, email, phone number, employer’s identity and phone number, and your banking information. MoneyMutual will not contact your employer or check your credit, but the direct lender they match you with might. When you get your loan offers, always review the terms and conditions including the interest rate, dates of repayment, and any fees before you agree. The interest rates on loans vary, but some can be very high since they are loans for bad credit. Before you sign for a loan, always make sure you can afford the interest rates and fees.

Best Loan Service

“The Best Lender Matching Service! I had an emergency, unexpected expense pop up. I heard about online pay assistance so I began my search. Money Mutual was THE ONLY one who matched me with a lender! The others kept throwing me in a circle; multiple emails leading nowhere! I appreciate the accuracy, speed, and assistance I received from Money Mutual! Please try this first to avoid unnecessary false leads by the others.” Jonell

MoneyMutual Eligibility Criteria

Qualifying for a loan through MoneyMutual is relatively easy. You must be: 

  • Currently employed or receiving some form of regular income
  • Make at least $800 per month
  • 18 years of age or older
  • A U.S. resident
  • Have an active checking account

There may be additional eligibility requirements for individual lenders. For instance, some lenders will accept income in the form of social security, pension, disability, and other forms of benefits.

Who is a MoneyMutual Loan Good For?

MoneyMutual loans are particularly beneficial for people who have bad credit and need quick financial assistance. It’s an excellent choice for those who may not qualify for traditional bank loans. Furthermore, it’s suitable for anyone looking for a secure, fast, and convenient way to access short-term loans without the hassle of lengthy application processes.

Final Thoughts

Borrowing money can be stressful. MoneyMutual makes it easy to get a short-term loan when you need it most. The online loan marketplace is a safe, convenient, and no-cost way to prequalify for loans without further damaging your credit score. If you need a loan and don’t know where to turn, give MoneyMutual a try and see what their lenders have to offer. You may just find a loan that fits your budget.

About the author

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.