MaxLend
Online Payday Personal Consumer Loans up to $5,000
Easy Application, Fast Processing, Quick Approval, Any Credit Score
Request a LoanMaxLend is a direct tribal-based lender that provides short-term installment loans for residents of 38 states. The company was founded in 2012 and operates under Makes Cents Inc. It is based in Parshall, ND. The company is owned by the Mandan, Hidatsa and Arikara Nation – the three affiliated tribes of the Fort Berthold Reservation. Thus, it is not a state-regulated lender and does not require state licensing.
| Company name | MaxLend |
| Founded | 2012 |
| Address | 217 3rd Ave NE, Parshall, ND 58770, United States |
| Website | maxlend.com |
| Phone number | +1 877-936-4336 |
| CustomerService@MaxLend.com |
Pros
- Online application process
- Widespread reach in many states
- Bad credit is ok
- Funding as soon as the next business day
- No fees charged for early repayment
- Minimal qualification requirements
- Reward system incentivizes responsible borrowing
Cons
- Not available in all states
- The lender is not subject to lawsuits or service of process
- Low borrowing limits
- High loan processing fees
- Extremely high APRs
- Charges an origination fee
- First-time borrowers can only get $1,000
- Does not provide loans to the military, their spouses and dependents
Bottom Line
MaxLend offers installment loans that can really help you out in an emergency. but keep in mind that the interest rates and late payment penalties are very high. The company operates in a lot more states than most typical short-term lenders. MaxLend is a tribal lender, and this might be a disadvantage for consumers who are not comfortable with Tribal Law. In general, this lender is OK for covering short-term financial needs and should only be used only as a last resort. Do not forget to compare other loan options to make sure you have found the cheapest loan for your needs.
Types of loans
MaxLend only specializes on installment loans. These are short-term loans that are available to consumers with low income and bad credit. They come with higher APRs than usual personal loans but are cheaper than payday loans. The payments are spread out over a definite period in equal installments, which gives you control over your budget.
Loan requirements
To get approved for an installment loan with MaxLend, you must comply with the following requirements:
- Be at least 18 years of age (19 in some states);
- Be a US citizen or permanent resident;
- Not be bankrupt or planning to file bankruptcy;
- Have proof of income;
- Earn at least $10,200 per year;
- Have an active checking account in your name;
- Not be in active military duty (or a spouse or dependent of one);
- Live in one of the states where the lender operates.
Category: Online Loans
Tags: Alabama, Alaska, Arizona, Colorado, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Wisconsin, Wyoming
Posted by Deborah Wagner