Well let's see now,
How many Loan Companies do you know that use free webmail like Yahoo?
If they are so broke they have to use free webmail how can they afford to give free loans?
How many Loan Companies offer interest free loans?
Let me see... Loans attract interest rates, that is how Loan companies (real ones) make a living.
Yes this is a scam. There is no loan, but you would be asked for a fee up-front to pay for it. Probably something like taxes, setup fees, clearances or more popular would be an 'Insurance Premium' to cover the loan.
SCAM SCAM SCAM