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).
MaxLend offers personal loans with APRs starting at 471.78% and up to 841.45%.
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.
Yes, MaxLend may charge borrowers a late payment fee
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.
Loan amounts start at $100 and go up to $2,000.
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.
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.
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:
MaxLend will typically approve (or deny) a loan application within 24 hours and fund personal loans as soon as 1 business day of approval.