Strongly not recommended
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Where does MaxLend do business?
MaxLend is a direct lender based in Parshall, ND. It was founded in 2016 and offers access to personal loans in 38 states (and Washington, DC).
What are the APRs offered via MaxLend?
MaxLend offers personal loans with APRs starting at 471.78% and up to 841.45%.
Does MaxLend charge an origination fee?
No, MaxLend does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does MaxLend charge a late fee?
Yes, MaxLend may charge borrowers a late payment fee
Does MaxLend charge prepayment fees?
No, MaxLend does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow via MaxLend?
Loan amounts start at $100 and go up to $2,000.
What is the maximum loan term you can get with MaxLend?
MaxLend offers personal loans with terms ranging from 6 to 12 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with MaxLend?
Applicants with a credit score of at least 300 can apply for a loan via MaxLend. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
To qualify for a MaxLend loan, applicants need a minimum annual income of $10,200 or higher.
Active duty servicemembers and their covered dependents cannot apply for a loan via MaxLend. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
What is the estimated funding time for a personal loan via MaxLend?
MaxLend will typically approve (or deny) a loan application within 24 hours and fund personal loans within 3 business days of approval.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- Rhode Island
- South Carolina
- South Dakota
- Only Individual Applications
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Employed Full-Time
- Employed Part-Time
- U.S. Citizen
- U.S. Permanent Resident
- Recent Pay Stubs