When researching short term cash loans and where to get them, there is a company named Money Mutual that invariably comes up. It’s one of the most popular companies which connect you to a short term loan lender because of its ease, convenience, and reliability.
The important thing to remember about Money Mutual is that it is not an actual lender, but a company that helps its customers find the lender that works best for them based on the information they provide. These lenders provide loans to their customers that have an extremely short maturity period. Usually meant to cover the borrower’s everyday expenses until the time of their next paycheck, these have been referred to as payday loans in the past.
For many years now, Money Mutual has been compiling a network of loan lenders that specialize in short term cash loans. Based on the information potential customers provide, they will be matched with a lender within a few minutes. Potential borrowers can visit the Money Mutual website in order to fill out the simple, two-page form that will help match them to a lender. This form asks for a few pieces of personal information, such as contact information (e-mail address, home address, phone number), financial history, employment information, and, of course, name and age. Every lender has their own requirements, so borrowers are directed to lenders that they are most likely to qualify for. That’s why it’s important to be absolutely honest, as customers are matched with participating lenders based on the information they provide. Money Mutual is a secure site, so any information potential customers give them will be kept safe.
Once you are matched with a lender that participates in Money Mutual’s online network, you are directed to that lender’s website to continue with the loan process. Just as every lender has different requirements, they all have different processes too. Most online short term loan lenders will merely confirm a few of the facts that you had already given Money Mutual before approving you. For instance, many will check to make sure that you are at least 18 years of age, and that you have a steady source of income, be it full- or part-time employment, an annuity, or Social Security. Once this fact has been established, the lender will use direct deposit to deliver your cash advance. Typically the amount ranges from $300 to $1,000; however, that too will depend on the lender.
Most online short term loan lenders will deposit the funds quickly and in a way that’s convenient to the borrower. However, to make sure this occurs, it is important to respond in a timely manner to any phone calls or e-mails that you receive from your lender. If everything is in order to the lender’s and borrower’s satisfaction, the money is usually deposited the next business day after you apply.