Money Mutual Reviews: Top Loan Company For Bad Credit Personal Loans In 2022

Financial emergencies don’t pick, and they can affect anyone at any time. No matter how hard you try to keep your spending under control, something unexpected always seems to ruin your entire financial budget. Many individuals struggle to come up with the money to deal with their financial concerns as the cost of living rises and salaries and employment rates do not stay current.

However, because financial emergencies never wait, an increasing number of people are looking for short-term loan assistance. And, because switching lenders may be stressful and nervous, we’re here to give you a better option; short-term loans for which you can apply online.

There are probably a lot of short-term lenders in your area, but finding them might be difficult. Money Mutual can help you with that. If a quick short-term loan is exactly what you’re looking for, check out our MoneyMutual review to see what kind of advantages it provides and how it works.

Also, this article can help you to inform yourself on how to apply for this kind of loan.

About Money Mutual

Money Mutual is a free platform that connects potential borrowers and lenders. Money Mutual is not a lender nor a participant in the loan process.

The company came about this idea because four out of ten Americans could not come up with $400 in an emergency, and practically everyone struggles to make ends meet at some point in their lives.

They believe it’s their obligation to give people a resource they can utilize to discover answers to the financial issues that life might throw at them, as well as to promote best practices and education in the short-term loan sector.

They saw a need for this kind of company in 2010 and decided to fill it. A significant majority of Americans require loans every month to help them deal with the obstacles that life throws at them, but finding the right lender may be complex, time-consuming, and even stressful.

As a result, Money Mutual created its online marketplace, which provides free access to lenders in a simple, quick, and safe manner. This means you can now go to a single location to fill out a quick and secure form and perhaps locate a lender.


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Money Mutual Review: Brand Overview

In just a few years, more than two million individuals have trusted Money Mutual to help them locate a lender who can help them with things like emergency costs, holidays, unexpected bills, and more. Users adore them since they give loans fast and at a low-interest rate.

The Online Lenders Alliance, which shares Money Mutual’s commitment to best practices and education in the short-term lending sector, is a proud member of their company.

The firm has been established for almost ten years and has swiftly grown in popularity. They anticipated an economic downturn as a result of automation. Nonetheless, they observed how people needed their services more than ever with the rise of artificial intelligence and the busy lifestyle!

MoneyMutual is a reputable organisation that is absolutely risk-free to utilise. They are, in reality, members of the Online Lenders Alliance, which assures that the lenders in its network adhere to industry standards and do not provide predatory loans.

Money Mutual is a trustworthy firm since they adhere to tight guidelines to ensure that neither the borrowers nor lenders abuse their loans. Both sides can defraud each other, but there is no chance of that with this company! They’re providing everyone with ethical services that you can trust, similar to how your local banks do it now.


  • Offers access to over 60 different lenders
  • Simple application process
  • Funding is usually quite fast
  • Offers 4 different kinds of loans
  • The service comes with a 0% rate for the first year
  • There are no hidden fees or tricks
  • No extra fee expenses
  • People with bad credit scores can also apply
  • The company provides educational resources on their website
  • A secure platform that keeps your information safe


  • No guarantee for defense against loan issues after you sign
  • Some loans/amounts are not available in all states

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Services Offered by Money Mutual

The platform provides people with many short-term loans offering a few different types of loans. Having a choice helps you to find the ideal loan that suits your personal needs. However, be careful and first read the terms and conditions of each, then decide if you want to sign the deal or search for other offers.

Payday loans

If you have bills to pay or need to buy groceries before payday comes, Payday loans are the right solution for you. Just like its name says, these loans are meant for short-term borrowers to help you make it until the next payday.

This loan type has a cheaper interest rate compared to the bill’s late fee or another loan rack up interest. But, keep in mind that if you apply for these Money Mutual loans, you must pay them off on your next payday, and you must choose a date for seeking access to their network.

On the flip side, these loans might be cheaper in one way, but they have very high-interest rates as well as finance charges. Since this may be a costly way to borrow money, you have to make sure that you will have the money to pay them off at the right time. Otherwise, you will be caught in debt.

But, even if you can’t pay your loans on time, don’t panic. In emergency cases, you can always use those convenient late fees as found when your pocket gets tighter again. Also, you should know that these loans only offer a small amount of money, about $300, due to their short-term repayment.

Installment loans

Installment loans are also among the most popular ones among the Money Mutual lenders’ network. These loans are perfect for disciplined people who want to avoid interest rates and higher fees associated with payday loans. For installment loans, you must agree on the condition for paying back several payments.

Installment loans’ interest rates are lower than you’ve expected but read the terms and conditions carefully before you consider taking this type of loan. They may guarantee some interest payments that you must reimburse based on the loan repayment date.

These loans are perfect if you want to buy a new car. It allows you to borrow up to $5000 and gives you 3-12 months for repayment, meaning you don’t need to worry about making on-time payments every month.


BadCreditLoans are identical to the previous two types of loans but more suitable for people with bad credit scores. These loans have lower eligibility requirements and potentially higher rates. Money Mutual takes care of the people with bad credit scores so that it provides this kind of loan.

These loans are easier to get because the lenders are interested in other factors rather than your credit score when deciding the value of the loan. They’ll need proof of your monthly income and some other financial factors, such as previous loans or debts.

For the past few years, the BadCreditLoans demand has increased. Since then, Money Mutual has been one of the best platforms for helping many people who are desperately in need of finances.

Cash advances

Cash advances are sometimes identified as payday loans. But, the difference between them is that cash advances enable you to obtain a specific short-term cash loan regardless of the borrower’s existing credit line for bill-paying or similar purposes.

The cash advances advantage is one of the options to get access to money when your card bills aren’t paid. They’re based on your performance history and not only being approved blindly. On the other hand, payday loans have high fees and high-interest rates.

Cash advances give you a great option if you need to make a payment when there’s no option for relying on an electronic payment method. They’re linked to your bank account, so you have available extra funds whenever you need them, without the need of getting approval first.

How Does Money Mutual Work?

Applying for a loan through the Money Mutual network is like going to multiple banks but filling out only one application. This way, you don’t have direct access to lenders instantly. Instead, Money Mutual does the work for you. The company sends all your information to different loaners so they can offer terms that suit you best.

This is the best way to get a loan because you skip the part when applying one by one for 60 different lenders. Besides the wasted time, every one of their offers could be less desirable than the previous one with the Money Mutual online platform. It’s much easier since all those loans will be accessed in one place.

Money Mutual has more than 60 lenders available, meaning at least one of them will respond to your application. You just need to meet the requirements needed, and the right lender will do its job.

Money Mutual for people with bad credit

Money Mutual offers loans to people with bad credit too. If several financial institutions have already denied you, this can be the right company for you. Since you meet all the other criteria, this company doesn’t care if there are some factors that negatively affect your score.

If you need a loan as a stepping stone to something bigger, you can easily get money from this company. Depending on your individual circumstances, they’ll help you with your finances by offering the best loan option for you.

Money Mutual only has intermediate loans. In other words, this company is a middleman. They’re making the request by sending the application to many payday loan companies so they can process it and later send it back.

Does Money Mutual work for free?

It might look like this service is free because the lending companies receive a fee for their time. Technically, no fee goes straight to Money Mutual but don’t forget that you’re paying them in advance.

The annual percentage rate (APR) is the amount you will pay for your loan, and it varies depending on your credit score type. For example, if someone has a low score, they can get an offer with 5% interest, but since there’s no standard range like 24%, this can also mean higher fees. Lenders can sometimes make an offer that is above this APR range, so make sure you check both sides before obligating.

We recommend reading the fine print before you sign up for this service. If some terms don’t agree with your preferences, it may be best not to approach them.

Advantages of Money Mutual

  • One form for multiple loaners

You may have found yourself in a position where you need to request loans from several lenders. This is because you have no idea which one can loan you money while getting the most profit for you.

Money Mutual tracts down different companies and compares all their information by filling out only one form. After the companies review your situation, they make a decision.

Filling out one form, then having someone compare your information with companies’ offers saves a lot of time and provides you with better benefits. This makes Money Mutual a fair and useful service.

  • Easy and quick applying

Money Mutual’s official website makes the application process easy and only takes a few minutes. The overall site is straightforward and secure, so anyone can use it without putting the bank account at any kind of risk.

Taking a loan the traditional way, you’ll spend many days wandering around and then waiting for months to see if they approved your loan. But with this platform, the approval process only takes a couple of days.

  • Approves loans for bad credit

Money Mutual makes the approval process easier for people with bad credit scores than ever before. It connects you with lenders that don’t need your credit score to give you a loan. This advantage is of great importance for borrowers with bad finances.

  • No extra fees for the service

Money Mutual’s most important advantages are that they don’t charge extra fees for services. This is a very nice gesture since it would be more challenging for people with bad credit scores or payday loans to have any kind of additional charges.

Many other similar companies charge extra fees for their service, which makes the customers feel scammed and like the company is trying to take advantage of them.

  • Educational information

When you need a loan, you have to educate yourself to determine what kind of loans exist and which one is best for you. But, if you feel like you don’t know how everything works because you don’t know enough about the loans, don’t worry.

Money Mutual provides many educational pieces of information on their website that can be very helpful. This company wants to ensure that its customers know everything about their offers and the potential lenders, making them more transparent and trustworthy.

Read about the loan types to avoid any kind of predatory loan or fee that might trap you in higher debts.

  • Secure platform

Don’t require a loan from an untrusted company because it may turn out to be a fraud. For instance, some companies don’t inform you about the fees from the beginning, and you will find out about that when you have already signed up, and there is nothing you can do afterward.

These kinds of scams are not a case with Money Mutual. They will inform you about everything you need to know before considering taking the loan. This means with Money Mutual, you know what to expect and will never be taken aback. So, it is no surprise why so many people trust and choose this company.

Costs and Fees of Money Mutual

With Money Mutual, every client is free from any kind of extra charges. Money Mutual’s platform is free for all borrowers, even though it is surprising for everyone since all of you expect to pay some extra charges. Otherwise, the lending companies have some expenses.

The lending companies pay Money Mutual small fees for their service of connecting them with the borrowers. But, this is a positive thing about the company since the users are safe when applying, knowing that they will have no other extra expenses later. This is why so many people are happy to use this platform.

On the other site, you should be aware that many loan companies may charge small fees aside from the interest rates. Based on how much you will borrow, they may add an average sum of $50 on top of every $100 you borrow.

However, it’s legal, and lenders are free to charge every kind of fee they want. This includes repayment, administration, and late fees. But, they also must clarify this in any loan they offer, while you must carefully read the contract. That way, you could be able to protect yourself or prepare yourself for upcoming expenses.

Drawbacks of Money Mutual

Money Mutual is easy to use and almost available for every individual over the age of 18. It works hard to improve its service as a mediation company, and the customers appreciate that. But, improvements are always a good idea, and for that matter, we have a couple of suggestions.

The platform is free, and that’s one of its best advantages. But, it could have been even nicer if you were not obligated to accept any loan offer. It could be the ultimate future if the company gives you the possibility to compare different loans and lenders’ offers. This could be beneficial, especially if your credit score is not that good.

We have another suggestion for the APRs limits. It might be bothering some customers that the company sets no limits to these rates. It could be better if the service features an upper limit because it can prevent creditors from enlarging the APRs.

And at last, many users don’t like how the service ends as soon as you take out your loan from Money Mutual. Since the company acts only like the middle man, it can’t do anything in case there is some kind of misunderstanding between you and the loaner.

How to Apply for Money Mutual?

As we mentioned earlier in this Money Mutual review, the loan approval process is simple and straightforward, with several steps. People nowadays prefer to use this type of platform just because the loan application and approval processes are quick and easy. You don’t need to go from office to office every day because everything is done online. The approval procedure is divided into several steps:

  • First, enter the ZIP code on their official webpage.
  • Fill in your name, email address, and other identifying details.
  • For text updates, enter your phone number.
  • Next, explain your source of income, your home address, and any other details about your living situation.
  • Provide evidence of your monthly salary.
  • Choose your bank account, the regularity of your payment, and the dates for your next two paychecks.
  • Write down the names of your employers and other identifying details.
  • Add the state’s ID number, driver’s license number, or any relevant data.
  • Enter your full bank routing number along with your account number.
  • Finally, feel free to send all of your information.

What’s next?

As a borrower, you must ensure that all of your account and loan information is valid. If there are any differences or mistakes made, you can check with banks later because that might take some time for them to submit these changes, so don’t get upset.

If the application form is completed correctly, approval will only take a few minutes. Once they receive the form, they check their own terms and conditions to determine what type of offer they should send you. However, since the entire process is fast, you won’t have to wait long for the results.

Who Is Eligible to Get a Loan From Money Mutual?

Money Mutual doesn’t set standards for each lender, but still, it has its own set of criteria. The essential eligibility criteria are the following:

  • You must be 18 years old
  • You must be a citizen of the U.S. and a permanent resident
  • You must have a consistent source of monthly income
  • You must have a valid checking account

If you meet these criteria, you will have a better chance of receiving at least a few loan offers from a variety of organizations in the network. You must have an account because lenders should deposit your funds immediately, especially in the case of payday loans or cash advances. That way, the lender can withdraw their payment on payday.

How to know if you’re eligible?

As we mentioned before, you need to prove that you have a legitime source and regular income to be able to apply for any loan. Also, you can’t apply for the loan if your monthly incomes are not at least $800 because the company requires that the customer must earn that much money every month. This criterion is specified, no matter the kind of your financial resources (a regular job, pension plan, or social security checks).

Whit providing all the necessary information, you can begin the process of getting a loan from Money Mutual. In the information, you should also include your Social Security number and contact details for your current employer or any institution providing income that can be used as collateral if needed in the future.

Also, the company will need your past due balances on debts and anything else that can benefit you when Money Mutual needs to consider how much risk is involved when offering you their financial services.

How Much Can You Borrow with Money Mutual?

This factor depends on various circumstances. The precise amount of money is mainly determined by the loan offer. Money Mutual connects you with over 60 lenders that offer many in-game alternatives. This service is primarily meant for bad credit loans and payday loans.

The maximum amount of money you can borrow through a payday or short-term loan is limited in several states. According to the laws of the state where you live, you may not be able to borrow more than $1000 for a single payday loan.

On the other hand, this company advertises loans up to $2500, which is a reasonable upper limit. They also provide smaller loans starting at $300 or $500, which are quite common and most demanded.

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Conclusion: Get Instant Cash With The Best Payday Loan Lender Online

All things considered, with this Money Mutual review, we determined it as a company with numerous advantages that the competition doesn’t have.

We believe Money Mutual is the practical solution to assist you in overcoming a financial problem, thanks to its extensive network of reputable lenders, simple and straightforward application, and remarkable speed with which it handles things.

Money Mutual may be able to help you, despite your credit score if you’re seeking a mid-range or short-term loan. Although this company only offers loans up to $5,000, we believe that this is a reasonable amount to seek online, and we must mention the need to keep your debt to a minimum. However, if you require a larger loan, we recommend you to seek elsewhere.

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