MaxLend

MaxLend will lend a first-time borrower up to $2,000, often the same day, even with bad credit. The catch is the price. On a monthly pay schedule, a new customer can pay up to $59 in finance charges for every $100 borrowed, every month, for up to nine months.

That's far more than a credit card or a bank loan would cost, so the details matter: how often you're paid, which rewards level you're on and how early you pay it back all change what you end up paying.

Is MaxLend a tribal lender, and is it legit?

Yes on both counts. MaxLend is a tribal lender: a real, operating lender owned by a federally recognized Native American tribe. Its legal name is Uetsa Tsakits, Inc., doing business as MaxLend, and it belongs to the Mandan, Hidatsa and Arikara Nation, the Three Affiliated Tribes of the Fort Berthold Reservation in North Dakota. It's also a member of the Online Lenders Alliance, a trade group for online lenders.

Being a tribal lender shapes how MaxLend works. It describes itself as a sovereign entity governed by tribal law rather than your state's lending rules, which is why its rates are far above most state caps. Its loan agreement also says disputes go through tribal dispute resolution or individual arbitration, not state courts. Read that part of the agreement before you sign.

How much does a MaxLend loan cost?

MaxLend doesn't publish an APR on its site; your exact rate appears in the loan agreement. What it does publish is the finance charge per $100 borrowed, per pay period. That depends on how often you're paid:

In practice: borrow $1,000 as a new customer paid monthly, and your first payment can include up to $590 in finance charges alone. Charges are calculated on what you still owe, so they shrink as you pay down the balance. Independent reviews put MaxLend's APRs between about 471% and 841%.

Returning customers who pay by automatic bank debit (ACH) get lower charges based on their rewards level. Late, missed or partial payments add fees set out in the loan agreement.

MaxLend Preferred Rewards: Green, Silver, Gold and Platinum

Every borrower joins MaxLend's rewards program automatically with their first loan. Moving up a level means paying off two loans in full and on time at your current level, and each step unlocks larger loans, lower rates and, at the top, more time to repay.

It's worth knowing what the ladder implies: reaching Platinum takes at least six loans repaid on time. Lower rates at higher levels still leave the loan far more expensive than most alternatives.

MaxLend requirements

MaxLend's bar is low on credit and specific on everything else. To apply you need to be at least 18 and a U.S. resident, with a verifiable income deposited into a checking account. That account has to have been open for a minimum time, and your take-home pay has to meet a minimum income, though MaxLend doesn't say what either threshold is. You can't be in bankruptcy or planning to file.

MaxLend checks your information with verification and specialty credit companies; lenders like it usually don't rely on the three main credit bureaus. Active-duty military members, their spouses and dependents can't borrow.

Which states is MaxLend available in?

MaxLend doesn't lend in 16 states: Arkansas, Connecticut, Georgia, Hawaii, Illinois, Massachusetts, Minnesota, New Jersey, New Mexico, New York, North Dakota, Pennsylvania, Vermont, Virginia, Washington and West Virginia. It can add or drop states at any time.

How to get a MaxLend loan, and how fast

You apply online or by phone at 877-936-4336, 24 hours a day. If you're approved, you e-sign the loan documents, then a MaxLend representative calls to confirm your details before the money is sent.

Timing depends on the clock. Finish pre-approval, e-signature and the confirmation call by 11:45 a.m. Eastern on a business day and choose direct deposit (ACH), and the money can arrive the same day. If you finish by 1:30 p.m. Eastern, same-day funding is still possible, but some banks will post it the next business day. After that, expect the next business day.

MaxLend reviews: what borrowers say

On Trustpilot, MaxLend has a TrustScore of 4.3 out of 5 from about 4,000 reviews: 76% are five stars and 12% are one star. Happy customers mostly mention friendly staff and fast funding, sometimes within a couple of hours. Unhappy ones mostly mention the high interest and say the total cost wasn't clear to them before signing. MaxLend replies to every negative review, usually pointing borrowers to early payoff.

The Better Business Bureau gives a different picture. MaxLend isn't BBB-accredited and has a C+ rating, which the BBB says reflects a pattern of complaints whose underlying cause hasn't been resolved.

The two scores measure different things: Trustpilot reflects how the borrowing experience felt, while the BBB rating reflects how the company handles complaints. Both point to the same practical lesson: check the total repayment amount in your loan agreement before you sign.

Paying off MaxLend early, logging in and contacting MaxLend

Can you pay off a MaxLend loan early?

Yes, and it's the single best way to cut the cost. There's no prepayment penalty, and you can pay extra on any scheduled pay date. Extra payments go toward the principal, which lowers the finance charges on every payment that follows and can shorten the loan.

Trouble making a payment? Contact MaxLend at least three business days before the due date. It may be able to rearrange the payment or set up a repayment plan.

MaxLend login. You can sign in to your account at maxlend.com/login.aspx with your email address.