* This article does not provide monetary advice. Seek help from a money advisor if you need monetary assistance.
(Announcement) When I had a plumbing emergency a few months ago and won an $800 bill, a friend of mine Money Mutual.
I was a bit short of cash at the time and didn’t have the budget to cover the bill for another 3 weeks until I got paid, so I checked them out.
I had a great experience with Money Mutual and they gave me the money I needed in less than 24 hours.
After getting approved for my loan, I will write this Money Mutual review to share my experience and help others.
Below, I’ll explain what Money Mutual is and my delight in employing them, how to get approved for a loan, and whether you want to get a loan from them.
Beginning.
The first thing you should know about Money Mutual is that it is a lender but also an online marketplace that allows you to partner with up to 60 more lenders.
It was founded in 2010 and aims to provide a fast, undeniable and secure way to link those who need borrowed money with those they can help.
Money Mutual says you can apply for a loan of between $100 and $5,000 and have the cash in your account in as little as 24 hours.
Money Mutual’s three-step procedure begins with completing an undeniable form that takes about five minutes to complete.
Then, they will share your data with lenders who could help you.
If a lender makes you an offer and you accept, you can have the cash in your account as soon as the next business day.
Here’s a look at some of the features that make Money Mutual unique.
After Money Mutual, here are some of the smartest aspects about it.
No credits to fill out the form
Filling out a form and locating a lender is absolutely simple and Money Mutual performs a credit check.
This means you can search for short-term lenders en masse without worrying about damaging your credit score.
If a lender wants to work with you and accepts your offer, the lender will do a credit check and pay a small payment to Money Mutual, but probably won’t charge you a dime.
Low requirements
Unlike some payday loan marketplaces, Money Mutual has low minimum needs and calls for you:
These requirements are much lower than other payday loan sites, making Money Mutual a great choice for people with a low credit score.
Quick decisions about your loan
Money Mutual claims that its lenders offer quick decisions and that it starts receiving offers within minutes of completing your form.
This is imaginable because your data is immediately shared with up to 60 potential lenders.
If a lender makes an offer to make a loan and is satisfied with the interest rate, payment dates, and finance charges, you can accept it right away.
No obligation
With Money Mutual, the ball is in your court and you can know which lenders you need to borrow from.
Since Money Mutual itself does not lend you money, you are free to accept what it offers.
Be fast
All lenders in the Money Mutual marketplace claim to deposit cash directly into your account within 24 hours.
In some cases, such as weekends, holidays or other non-business days, it would possibly take a little longer, but in most cases, deposits take position the next business day.
High security
Let’s say you hesitate to enter your non-public and monetary data on a website. In this case, you will be pleased to know that Money Mutual is a member of the Alliance of Online Lenders (OLA) and takes security very seriously.
If you are satisfied with any facet of the procedure and would like to file a complaint, you may call the OLA Consumer Helpline (1-866-299-7585) for assistance.
While those features make Money Mutual a great position for locating a payday loan, it has some drawbacks.
Money Mutual is a wonderful position to look for a loan and can save you a lot of time and money.
But there are 3 disadvantages you want to be aware of.
You don’t have it everywhere
While Money Mutual accepts programs from most places in the United States, it’s not found everywhere, such as Connecticut or New York.
No backup
Money Mutual says its lenders offer fast and flexible loans, but there’s no guarantee they’ll be approved.
Once you’ve accepted a lender’s offer, you’ll be running directly with the lender, not Money Mutual.
With over 2 million customers, it’s fair to say that most other people with an average to bad credit score who use Money Mutual have a good chance of getting approved, but that’s not one hundred percent guaranteed.
Lenders Rigorous Credit Controls
The third problem is that while Money Mutual doesn’t run a credit check when you fill out your form, the lenders you link to will do a convenient or business credit check.
These are done with one of the main credit bureaus: Experian, Equifax or TransUnion.
You deserve to be aware that rigorous creditsss checks may appear on your creditsss report and can your creditsss score.
To get a balanced view of Money Mutual, go online and read what others are saying about the company.
Money Mutual has dozens of positive reviews from other people who have used the platform to find a short-term loan and overall, most seem satisfied.
Take Rashonda, for example, who says she enjoys it quickly, undeniably, and without complications.
She says Money Mutual made her feel comfortable sharing her information and assured it was fast and secure.
Then Nicole, who says it only took two minutes to locate a lender at Money Mutual.
She received her loan approved in less than 30 minutes and was delighted with the temporary and fluid way she received a loan of money.
Another Yahoo!Finance reviewer, Pearl L, says she liked being able to get her loan approved online and was satisfied with the terms it offered.
He approved temporarily and said he would definitely use the service in the future.
When I needed cash temporarily to pay a plumbing bill, I looked for Money Mutual and here’s what happened.
Here’s what happened when I implemented one at Money Mutual.
True to his word, it took me less than five minutes to complete the application form.
I just had to enter my state and enter my name, email address and zip code, track my contact number, number one source of income, address and whether I am an army veteran and have a car.
I then asked me to enter my monthly income, credit card debt level, employment details, Social Security number, date of birth, and bank details. All the same as lenders ask.
What happened after I took out the form?
Within minutes, I received a bunch of loans from lenders willing to give me what I needed.
Some of the donations were bad and not even worth considering. But some donations were pretty smart for a short-term loan.
The gives were transparent and easy to understand, so I had no doubts about the payment terms or loan charge.
I had to make a loan where I had to pay $15 for every $100 borrowed and pay it back at my next job.
I can also spread the bills monthly, but the interest to be paid would have been higher.
Borrowing $800 meant I had to pay back $920, so the interest was $120, which I don’t think is bad for a short-term payday loan.
The lender promised to do only a flexible credit check because I didn’t need my credit score to be affected.
I was asked to fill out their own application form, which was more detailed than the Money Mutual form but wasn’t too complicated.
My loan was approved within the hour and I earned the cash in my account the next day.
I was able to pay the plumbing bill and pay off the loan a few weeks later on my next troubleshooting.
I was satisfied with the temporary way the procedure worked and how everything can be done online, which saved me time and money.
Money Mutual helped me out of trouble.
I was inspired through the simplicity and ease of the total procedure and the temporary way I was able to get the money I needed.
I won smart donations from lenders and found that all situations were easy to understand. I didn’t feel like anything that wanted to hide from me in small print.
Being an OLA member, Money Mutual is reliable and makes it clear that they are customer-focused.
I highly recommend checking Money Mutual if you want cash in an emergency.
The application form is simple and loose to complete and takes a few minutes, so it can be helpful to fill out the form and see what offers are presented to you through lenders, as this varies from user to user.
Click here on Money Mutual’s online page and see how much you can borrow today.
*This article is provided through an advertiser and not necessarily written through a financial advisor. Investors conduct their own product and facility studies and contact a financial advisor before opening an account or moving money. Individual effects will vary. Foreign corporations and investment opportunities may not offer the same promises as U. S. corporations. Before interacting with a business, study legislation and regulations similar to that service and make sure the business complies. regulation, scale on the website Investor. gov of the Securities and Exchange Commission (SEC).