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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.



About company

MoneyMutual is a free online service that allows potential borrowers and potential lenders to search for each other. MoneyMutual offers short-term solutions to financial challenges that happen to every person. Each MoneyMutual customer can receive a payday loan, installment loan, bad credit loan, and cash advance. The company acts as an online marketplace for lenders, so each client can choose the best conditions among all available 93 lending partners.

MoneyMutual is headquartered in Las Vegas, Nevada. However, potential borrowers can use the company's services online. Moreover, MoneyMutual's activities are licensed in 48 states except for Connecticut and New York. Every resident of these states can contact MoneyMutual for help to pay urgent and unexpected bills such as medical bills or car repairs. The services are suitable for applicants with poor credit.

Montel Williams founded MoneyMutual in 2010 in Las Vegas, Nevada. He found out that according to the Economic Well-Being of U.S. Household report, 4 out of 10 Americans cannot afford to find $400 to pay unexpected bills. This statistic prompted Montel to create a company that will help such people cope with financial problems with the help of short-term loans and straightforward lending processes. He created an online marketplace named MoneyMutual that has already allowed 2 million customers to borrow the necessary amount of money with the best financial conditions and receive them within 24 hours.

Pros and cons


  • A large number of short-term loan offers.

  • Accessibility for people with low credit scores.

  • The straightforward application process takes 5 minutes.

  • Quick receipt of money within 24 hours.

  • The opportunity to choose advantageous conditions among a large number of offers.


  • Each MoneyMutual's lending partner sets its own conditions and can take its own commissions.

  • Interest rates and other financial terms are not available until the application is approved.

Terms and conditions

Payday loan

A payday loan is designed for urgent receipt of money for unexpected expenses. There are several types of payday loans in MoneyMutual, namely military, online, no fax, poor credit, and 24-hour loan. The military loan is intended for active servants of the army or reserve servants. Lenders usually offer a lower interest rate and a more flexible loan term for this type of loan.

Online payday loans can be taken from the comfort of the home directly on the MoneyMutual website. No fax loan does not require extra paperwork and fax work. Poor credit loans can help people with low credit scores with solving financial problems. A 24-hour loan allows you to receive the money within 24 hours from the moment of approval of the application.

MoneyMutual does not specify the exact interest rate and loan term for payday loans, as these indicators depend on the borrower's credit score, the state of residence, and the conditions of the lender. The loan amount in MoneyMutual varies from $200 to $5,000 depending on the state, and the repayment terms are usually from 2 to 4 weeks. Based on the conditions of different short-term lenders, it is possible to say that with an average credit score, the borrower can expect an APR in the region of 400% in MoneyMutual. Each lender can take their origination fee when issuing a loan.

Installment loan

An installment loan is a short-term loan offer that is similar to a payday loan. The main feature of this type of loan is that the loan payments can be divided into several equal payments. Moreover, an installment loan in MoneyMutual allows the client to take out a loan amount more than in other credit options. Therefore, the repayment term will be different for the installment loan. Usually, it is several months, but not more than 6. This type of loan usually offers a lower interest rate and lower fees.

Bad credit loan

A bad credit loan is simply any kind of loan that the company offers, but with special conditions for people with poor credit. A borrower with a low credit score can take a payday loan, installment loan, or cash advance. For such a loan, the conditions will be different. This type of loan from MoneyMutual has more accessible criteria for qualifying for a loan. A borrower with poor credit must pay an interest rate higher since they are a risky client for lenders. However, a large number of lenders offer this loan offer because this group of people needs a loan more than others.

Cash advance

A cash advance is also similar to a payday loan. A cash advance allows the borrower to pull out a short-term loan of cash regardless of their existing line of credit for bill-paying. The borrower can take this loan from a credit or debit card. This loan, like a payday loan, has a high APR as it has a short repayment term. However, unlike interacting with a direct lender when working with MoneyMutual, the borrower can choose the repayment terms that the lenders will offer. The exact finance terms, such as possible loan amount, are not specified on the MoneyMutual website and are specified individually after the approval of the application.

Funding a loan

To apply for a loan in MoneyMutual, the borrower provides data on an active checking bank account. The money comes to this account. Usually, funds are transferred to the account within 24 hours. However, if the client received the loan approval on a non-business day, for example, on a holiday or a weekend, there may be delays until the next business day.


MoneyMutual is a good choice for a short-term loan. MoneyMutual offers financial solutions from 93 different lenders, and the client has the opportunity to choose the most convenient financing option for himself. MoneyMutual also offers special loan terms and a variety of services for people with poor credit. The process of receiving money is fast and simple. The money is credited to the account within 24 hours, so it is suitable for paying last-minute expenses. MoneyMutual does not charge origination, application, and prepayment fee. However, each lender can take their fee. It is necessary to pay attention to this when drawing up a loan agreement in MoneyMutual.


How does MoneyMutual work?

MoneyMutual is a service that connects borrowers and lenders. First, the client applies for a loan. Among the many offers from 93 landers, the company offers the client the most profitable. Next, the client compares the interest rate, the repayment term, and the maximum amounts among all offers and selects one. In the end, MoneyMutual takes over all the paperwork, and the client receives money from the lender after 24 hours.

Is MoneyMutual trusted?

Yes, the company is trusted. At the moment, MoneyMutual has issued loans to more than 2 million people. The company is a member of the Online Lenders Alliance and is certified by the Community Financial Education Foundation. Moreover, the company's website has been certified by TrustedSite.

Who owns MoneyMutual?

MoneyMutual is owned by a London Bay Capital equity firm.

Is MoneyMutual a direct lender?

No, MoneyMutual is not a direct lender. The company has partnerships with 93 lenders. The company itself acts as an online marketplace for borrowers and lenders. When a client contacts the company, the company provides them with the service of comparing offers from lenders and choosing the best one. Loans are issued by lending partners.

Company documents

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Terms of Website Use
Consumer Advisory

MoneyMutual is made up of people like you, working hard to help others.

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