Loans Mutual Review

Loans Mutual



Lender Rating: A+

Fee Per $100: $7.99*

Loan Period: 120 days*

Pros: Get up to $5000 within hours, bad credit OK, you may get up to 120 days to repay, access to their network of 155 lenders.

Cons: 24 hour customer support only by phone and email. No online chat. Not all lenders featured offer the 120 day loan repayment option that I received when I got my payday loan from Loans Mutual.

How Does Loans Mutual Compare To Other Payday Loan Lenders?
We ranked Loans Mutual #1 this year for providing the best loan rate and repayment terms by taping into their very large network of payday loan lenders and for having an excellent lender rating. See our Top 10 Best Payday Loan Lenders List to see how they rank against the other online payday loan lenders.

Full Review of Loans Mutual
In today’s tough economic times, it is hard to handle all of the expenses with a fixed income source. That’s why there are so many companies offering payday loans to people in need. Loans Mutual is one of these companies, but its different than its competitors because it has highly competitive fees, a fast approval time, and a VeriSign SSL Encrypted application that guarantees your information is safe. In addition, the Loans Mutual website is very easy to navigate and contains all the necessary information required for people to acquire a short term loan. All these features make Loans Mutual a perfect choice if you want to borrow money for any unexpected emergencies.

One thing notable about Loans Mutual – the design of their interface is somewhat similar to Facebook. So besides getting fast cash from Loans Mutual, applying for your loan will be an intuitive process if you already use Facebook.

Best Features of Loans Mutual

  • 7 minute application
  • Easy, secured two steps to follow
  • Interface similar to the design of Facebook
  • VeriSign 256-bit encryption technology
  • Get a cash loan up to $5,000
  • Their network of 155 lenders compete for your business
  • Some lenders in their network offer 120+ day loan repayment terms
  • Connect with Loans Mutual via social media: Facebook, Twitter and Google+

Loan Process
The quick and easy loan process begins with a simple online application. You don’t have to make phone calls or bring your important documents anywhere. Just visit their website ( and fill out a couple of forms. Loans Mutual features VeriSign 256-bit encryption technology, so your personal information is completely protected, online and offline.

The entire process consists of two easy, secure and fast steps.

  • Step 1: Choose the amount you want to borrow (up to $5000), fill in your first and last name, email address and zip code. Click on the green button “Get your $$$ now!”
  • Step 2: Provide details about your personal information, employment status, and bank account information. Personal information includes address, date of birth, social security number, etc. Employment status includes your detailed work information, salary status, payday date, and such. Bank account info is for you to receive and repay the loan.

Now you can just sit back and wait, and your application will be processed in just seconds.

The great thing about LoansMutual is that there is often no need to fax any documents, unlike some other payday loan companies out there. After all, a fax machine is not always accessible for everyone. For this reason, LoansMutual has made applying for a payday loan simpler and faster.

Loan Repayment Process
Some lenders within the Loans Mutual network of lenders offer 120 day loan repayment terms, but those preferential terms are usually reserved for clients with the best credit score and employment history. The payoff balance includes principal amount and interest. That amount is automatically withdrawn from the bank account once you get your next pay check. In case you can’t pay the loan in full, you can setup a payment plan, but this will involve additional charges.

Since different lenders have different options, make sure you are clear about loan repayment terms with your lender, so that there are no problems later on. Whatever option you choose, there is not much that you have to do. The lender will automatically deduct that amount from your account – simple as that. So when your next payday arrives, the principal plus interest and fees will be deducted from your account.

Requirements to Get Loan
To get a payday loan from Loans Mutual, you have to be a legal adult (over 18 years of age), have a social security number, and proof of employment. Additionally, you shouldn’t have any bounced checks in your checking account. Keep in mind that Loans Mutual is just a loan broker that connects you with one of the 155 lenders in their network. Each lender will have different requirements, and you must fulfill them in order to get a loan.

You often don’t need to fax any documents, and there are typically no legal formalities required. It’s common for anyone to get short on cash and struggle with unexpected expenses at times, Loans Mutual can sure be the relief you have been looking for.

Loans Mutual Customer Support
There is a toll free number you can call to apply for a loan. For any other inquiries, you can email them. Loans Mutual promises to respond to emails within 24-48 hours. The company is located at Scottsdale, Arizona, but there is no exact address of the company on their website.

There is no live chat or any other forms of 24 hour customer support available. However, you can connect with Loans Mutual on Facebook, Twitter and Google+.

Loans Mutual Pros

  • They search through more than 155 lenders to get you the best loan
  • Easy, simple and secured steps for application
  • Usually no legal filings and no faxing required
  • You may get up to 120 days to repay your loan

Loans Mutual Cons

  • 24 hour customer support only via phone and email – no online chat
  • Not all lenders within their network offer 120 day repayment terms

About Loans Mutual
Loans Mutual is not a direct lender of payday loans, but they do remunerate us when we send new customers to them. Instead of constituting an offer to lend, the website offers a service to connect you with a lender that can provide you with a competitive short term loan. The service of Loans Mutual is not available in certain states, including Arizona, Arkansas, Oregon, Georgia, and West Virginia. The company is located at Scottsdale Arizona, but no detailed address is given on their website.

Learn more about Loans Mutual at

Additional Notes For  Loans Mutual
* This is the actual loan rate and repayment terms I received when I applied for my payday loan through Loans Mutual. I have excellent credit and a great employment history though. These are two important factors for getting the best terms available.

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