Loopt continues to evolve from a location based social network to more of a local search utility. This comes during a general shift of market attention towards location based mobile apps and the commercial intent that can be inherent in their use.

Yesterday Loopt took another step towards monetizing some of these local interactions by partnering with Mobile Spinach. The partnership will provide Loopt users with geotargeted coupons and promotions for local businesses.

Financial terms weren’t disclosed but this represents Loopt’s first relationship with a local content aggregator. In the past it has done direct deals with national advertisers with localized constituents, such as Jack in the Box. It will roll out first in San Francisco and be available to users of Loopt’s smart phone apps (not mobile web yet).

This follows a string of recent moves for Loopt including, adding local ratings and reviews, integration of Foursquare-like “check-ins”, and development of a customer loyalty program (to be rolled out soon). Expect for this evolution to continue over the coming months.

Loopt CEO Sam Altman will elaborate on company’s directions in the mobile local space during BIA/Kelsey’s Marketplaces Conference in San Diego, March 22-24.