Written by
Joe Chappius
Company name
MaxLend
Website
https://www.maxlend.com
Phone
1-877-936-4336
customerservice@maxlend.com
Address
217 3rd Avenue NE Parshall, ND
MaxLend Review: Tribal Installment Loans with Next-Day Funding
Our take on MaxLend in 30 seconds
MoneyKey provides fast access to cash with a straightforward application process and same-day approval.
However, their installment loans come with extremly high interest rates that can lead to debt cycles for vulnerable borrowers.
While they're transparent about their costs, these products should only be considered as a last resort for genuine financial emergencies when all other options have been exhausted.
Better suited for those who can repay quickly and understand the costs involved.
Pros & Cons
Fast Access to Emergency Funds: MaxLend offers a streamlined application process with rapid funding, typically depositing approved loan amounts into borrowers' bank accounts within one business day.
Accessible to Borrowers with Poor Credit: Unlike traditional lenders, MaxLend doesn't require a minimum credit score and accepts applicants with bad credit histories.
No Collateral Requirements: MaxLend offers unsecured loans that don't require borrowers to put up any assets as collateral, reducing the risk of losing personal property if repayment becomes challenging.
Flexible Repayment Options: The lender offers multiple payment methods, including "Payment Plus" which allows adding extra amounts to scheduled payments to reduce principal, and "Payoff Now" for settling the loan in a single payment.
High Interest Rates: MaxLend charges extremely high APRs ranging from 471% to 841%, which is higher than typical payday loans (which average around 400% APR). These rates translate to substantial fees - up to $59 per $100 borrowed for monthly payment
Tribal Lender Status Limits Consumer Protections: As a tribal enterprise, MaxLend operates under tribal sovereignty rather than state laws. This legal structure means borrowers have fewer consumer protections than with state-regulated lenders.
Limited Geographic Availability: MaxLend doesn't offer loans in 14 states: Arkansas, Connecticut, Georgia, Hawaii, Illinois, Massachusetts, Minnesota, New York, North Dakota, Pennsylvania, Vermont, Virginia, Washington, and West Virginia.
MaxLend At glance
Read reviews (55)Details
MaxLend Personal Loan
Terms & fees
Loan amount$100 - $3,750
Term14 days - 9 months
Annual interest rate471% - 841%
Origination fee$0
Monthly fees$0
Requirements
Minimum age18
Minimum income$1,000
National bank requiredYes
National phone number requiredYes
Citizenship requiredYes
Electronic identificationYes
Features
Cosigner possibleNo
Revocation periodYes
Accept bad credit historyYes
Weekend payoutNo
Loan extensionsYes
Early paybackYes
Payment within 24 hoursYes
Loan brokerNo
Interest free loanNo
Additional fields
Payment hoursAlways Open
High approval rateNo
Recommended companyYes
MaxLend is an online tribal lender that offers short-term installment loans of up to $3,750. New customers can borrow up to $1,500.
MaxLend offers an alternative to payday loans and MaxLend loans can be available as soon as one day and do not require any collateral.
MaxLend is a lender owned by the Mandan, Hidatsa, and Arikara Nation — the Three Affiliated Tribes of the Fort Berthold Reservation, a sovereign nation located within the United States of America.
MaxLend offers quick approval installment loans to help you stay afloat during financially challenging times.
Since the payments are spread out over a period of time in equal installments, it gives you more control over your budget.
Apply for a MaxLend Loan NowHow We Rate MaxLend
At Financer, all lenders go through a thorough research and review process. Here's how we rate MaxLend:
| Category | Rating |
|---|---|
| Affordability | ⭐⭐⭐ |
| Application process | ⭐⭐⭐⭐ |
| Loan terms | ⭐⭐⭐ |
| Transparency | ⭐⭐⭐ |
| Customer support | ⭐⭐ |
| Overall | ⭐⭐⭐ |
Here's what we'll cover in this review:
Want to skip the details? Jump to our final verdict here.
MaxLend Overview
MaxLend offers installment loans up to $3,000 with repayments of up to nine months.
You can borrow as much as $3,000 via a MaxLend loan. And if you’re a first-time customer you can apply for up to $1,500.
Here's a quick summary of MaxLend:
| Overview | Features |
|---|---|
| Loan type: | Personal loans |
| Loan amount: | $100 - $3,000 |
| Loan term: | Up to 9 months |
| APR: | Between 471% and 841% |
| Min. credit score: | None |
| Monthly fees: | Between $12.75 and $59 per $100 borrowed |
| Payout time: | One business day |
| Weekend payout: | No |
| Requirements: | At least 18 years oldU.S. citizenActive bank accountRegular incomeValid phone number and email |
MaxLend loans are easily accessible and you can have funds in your account on the following business day.
As a first-time borrower, you can qualify for a loan of up to $1,500 and borrowers with bad credit can apply.
You can make an additional payment toward principal interest on any scheduled payment date. There is also no penalty for early repayment of a MaxLend loan.
Personal loans can be difficult to qualify for if you have bad credit. This is because most personal loans are unsecured so there is no collateral to back up the loan. MaxLend doesn't require collateral and you don't need good credit.
You don't need to provide collateral when taking out a MaxLend installment loan. All you will need to provide is proof of income, a checking account, and a valid social security number.
Loan Requirements
Here are the loan requirements when applying for a MaxLend loan:
You must be 18 years or older
You must be a US resident
You must have an open checking account
You must have a source of income
Rates & Fees
MaxLend offers fast access to cash, but it has a downside: MaxLend loan fees are quite high, with APRs between 471% and 841%.
In comparison, typical payday loans have APRs of around 400%, according to the Consumer Financial Protection Bureau. This makes MaxLend more expensive than other average payday loans.
MaxLend bases its fees on a rate per $100 borrowed. For example, if you make weekly payments, you'll pay up to $14,75 in fees for every $100 you borrow. With monthly repayments, you'll pay up to $59 for every $100 you borrow.
MaxLends offers loans from $1,500 to $3,000 and the typical repayment period is around nine months for a new borrower.
| Weekly Pay Period | Bi-Weekly Pay Period | Semi-Monthly Payment | Monthly Pay Period | |
|---|---|---|---|---|
| New Customer | Up to $14.75 | Up to $29.50 | Up to $29.50 | Up to $59 |
| Returning Customer | $12.75* | $24.50* | $24.50* | $49.00* |
Payment Terms
MaxLend offers loan repayment terms of up to nine months. You can settle your loan early with no penalties.
Your repayment dates will typically correspond with your pay dates. Once you've paid your loan in full, you will qualify for MaxLend Preferred Rewards.
There are three ways to pay:
| Standard Pay | Payoff Now | Payment Plus |
|---|---|---|
| No action needed. | Pay off your entire loan in a single payment. | Add an amount to any scheduled payment. |
| Payments are collected automatically on the payment dates in your loan document. | Contact customer support at least one day before your payment is due. - One larger payment- Save on fees- Payment based on outstanding principal | Contact customer support at least three days before your payment. - The added amount pays down your principal.- Save on fees.- Choose this option as many times as you want. |
How to Apply for a MaxLend Loan
Apply online
Complete an application online by entering information such as the loan amount you’re requesting, your income amount, and your bank details.
Verify your information
A customer service representative may give you a quick call to verify your information.
Get approved
If approved, you can sign your loan documents online. You can use the MaxLend login to manage your account.
Receive your funds
The money will be sent to your bank account and this usually takes one day.
How Financer Rates MaxLend
If you’re looking to take a loan from Max Lend, all the terms and requirements are not transparent on their website but are provided in detail on your loan agreement.
Although the interest rates are very high on Max Lend loans, if you can manage to repay your loan within the next payday, it can be quite manageable.
Missing payments can mean fees and cause more debt, so it really isn’t something to consider if you’re trying to consolidate a credit card or auto loan.
You can also consider applying for a payday alternative loan from a federal credit union. These small short-term loans can't have interest rates higher than 28%, and you can’t be charged more than $20 to apply.
Is MaxLend legit? Yes. MaxLend is a sovereign enterprise, wholly-owned and controlled by the Mandan, Hidatsa, and Arikara Nation.
Customer Service
MaxLend offers customer service 24/7 via email and telephone. Advance customer service is also available from Mondays to Saturdays.
You can read more MaxLend reviews below.
FAQs
How much can I qualify for?
MaxLend offers loans up to $3,000 but first-time borrowers can qualify for up to $1,500.
Is MaxLend a credible lender?
Yes. MaxLend is wholly-owned and controlled by, the Mandan, Hidatsa, and Arikara Nation, a federally-recognized sovereign American Indian Tribe.
Is my information safe?
Yes. All loan applications are transacted on secure servers and they make use ot industry standard security protocols. Your non-public information is completely confidential and protected.
Can I pay back my loan early?
Yes, you can pay your loan back early without penalty. It may reduce the finance charges you pay. Each loan you pay back in full with no missed or late payments also counts toward advancing levels in MaxLend Preferred, our Rewards program.
MaxLend Alternatives
Here's a list of alternatives to MaxLend and how they compare:
| Lender | Reviews | Loan Amount | APR | Max. Loan Term | Bad Credit? |
|---|---|---|---|---|---|
| PersonalLoans.com | View | $500 – $35,000 | 5.99-35.99% | Up to 6 years | Yes |
| BadCreditLoans | View | $500 – $5,000 | 5.99-35.99% | Up to 2 years | Yes |
| CashUSA.com | View | $500 – $10,000 | 5.99-35.99% | Up to 6 years | Yes |
| Fast5KLoans | View | $500 – $35,000 | 5.99-35.99% | Up to 5 years | Yes |
More MaxLend Personal Loan Reviews
What Users On the Web Are Saying
MaxLend gets 3.8 out of 5 stars on Trustpilot, with users showing mixed feelings:
Some users were unhappy about the high loan rates, while others felt the service was fast and easy.
More User Reviews - Add Your Rating
Read more reviews on Financer from verified users below.
Have you used MaxLend before? Leave your review now.
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