Frequently Asked Questions About Installment Loans

What is a Multi-Pay Installment Loan?

An installment loan is a convenient way to borrow money and pay it back over several payments. The payment schedule is based on the loan amount, interest rate and number of payments. Except for first and last payments, each loan payment is typically the same amount. At MaxLend, loan payments are set up to occur on your paydays and new customers typically have 9 months to pay back the loan. For example, a new customer with a 9-month loan who gets paid once a month would have a loan with 9 payments and a new customer who gets paid twice a month or every two weeks would have 18 payments. Members of MaxLend Preferred Rewards may have longer loan terms. You can pay off your loan early without penalty. You may also opt to pay extra on any pay date. The additional amount is applied directly to reduce the principal. Paying extra may cut the total number of payments and potentially could lower the total finance charges you pay.

How can I qualify for a MaxLend loan?

It's easy!

  • Provide a verifiable source of income deposited into your checking account.
  • Have an open checking account that meets our "bank account minimum opened duration" requirements.
  • You need to be at least 18 years old and a United States resident.
  • Your take-home pay has to meet our minimum income requirements.
  • You must not currently be a debtor in a bankruptcy case or presently intend to voluntarily file for bankruptcy relief.

What will happen after I complete my application?

Your application will be reviewed per our underwriting rules. If you are approved, there are 2 quick steps to getting funded: eSign your loan documents and talk to Customer Service to confirm your information, we are open 24-7. The cash may be deposited in your account as soon as today.* Once approved, you also become part of our Rewards program, MaxLend Preferred.

After I submit my application, how long will it take before I hear back from you?

Not long. You typically know right away. If you’re pre-approved, give us a quick call to confirm your information, we are open 24-7. You can call right now or schedule a time when it works best for us to call you.

How soon after applying will I get my money?

You will be offered FREE same day funding*, when available, during your verification call.

What is the maximum loan amount that I can qualify for?

It depends on a variety of factors, including your level in MaxLend Preferred Rewards. The maximum amount a new customer could qualify for in the rewards program is $2,000. Rewards members at the highest level could qualify for up to $3,750.

When will I need to repay my loan?

Your payments will be due on scheduled Payment Due Dates, which generally correspond with your pay dates. Our installment loans are usually 9 months for new customers; however, you can pay off in full at any time without penalty. Each loan that is paid in full, on time, counts as you progress in MaxLend Preferred Rewards.

Can I pay my loan back 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.

What if I have problems making a payment?

If you have a Multi-Pay Installment Loan, you can pay the loan in full at any time without any penalties for early payment. If you have a short term loan, paying in full on your due date is the best approach, but we understand that sometimes this isn't possible. If you can't afford to pay the entire balance, MaxLend has options. Contact us at least 3 business days prior to your loan due date to arrange payment towards your principal loan amount. The amount you choose will be debited in addition to the Interest Rate and Underwriting Fee.

I don't have a printer and I want to print a copy of my loan documents. Can I get my documents another way?

Yes! We can email or fax your loan documents. Just let one of our representatives know your preferences by calling us at 877-936-4336 anytime, 24/7.

Are your loans secure and confidential?

Absolutely! All the loans we make are transacted on our secure servers and utilize industry standard security protocols. Your non-public information is completely confidential and protected by our Privacy Policy.

What is the Equal Credit Opportunity Act?

The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the Federal Trade Commission, Equal Credit Opportunity, Washington, D.C. 20580.

Where can I read the Privacy Policy?

MaxLend Privacy Policy

This MaxLend privacy policy (the "Privacy Policy") is intended to inform you of our policies and practices regarding the collection, use and disclosure of any information you submit to us through www.maxlend.com. This includes "Personal Information," which is information about you that is personally identifiable such as your name, e-mail address, full content of your e-mail, customer ID number, application number, and other non-public information that is associated with the foregoing.

User Consent
By accessing or otherwise using www.maxlend.com, you agree to this Privacy Policy and expressly consent to the processing of your Personal Information in accordance with this Privacy Policy.

Your Personal Information may be processed by us in the country where it was collected as well as other countries (including the United States) where laws regarding processing of Personal Information may be less stringent than the laws in your country.

FACTS

WHAT DOES MaxLend DO WITH YOUR PERSONAL INFORMATION?

Why?

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

What?

When you use the MaxLend's online sites, we may collect and share your personal information that you provide via forms, applications, surveys, and other online fields. This information can include:

  • Name, address, and contact information;
  • Social Security number and income information;
  • Payment history and employment information;
  • Financial account details and account balances; or
  • Information from identification documentation, such as your driver's license, passport, or utility bills.

How?

All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reason MaxLend chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information

Does MaxLend share?

Can you limit this sharing?

For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus

Yes

No

For our marketing purposes – to offer our products and services to you, both during and after the administration of your account(s)

Yes

Yes

For joint marketing with other financial companies

No

N/A

For our affiliates' everyday business purposes – information about your transactions and experiences

No

N/A

For our affiliates' everyday business purposes – information about your creditworthiness

No

N/A

For our affiliates to market to you

No

N/A

For non-affiliates to market to you

No

N/A

Mobile information sharing with non-affiliates for their marketing purposes.

Note: No mobile information will be shared with non-affiliates for marketing purposes.

No

N/A

To limit our sharing
  • Call 877-936-4336 and ask to speak with our Office of the Ombudsman about your privacy sharing.
  • Send an email to ombudsman@maxlend.com with the details of what information you would like to limit our sharing.
  • You can also limit sharing by logging into your preferences page on www.maxlend.com

Please note:

If you are a new customer, we can begin sharing your information subject to your ability to opt-out 30 days from the date you sent this notice. When you are no longer our customer, we continue to share your information as described in this notice.

However, you can contact us at any time to limit our sharing.

Questions?

Call 877-936-4336 or go to www.maxlend.com.

Who we are

Who is providing this notice?

MaxLend is providing this privacy policy and it applies to all loans made by the company and all products and services offered in connection with such loans.

What we do

How does MaxLend protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. Even though we have taken significant steps to protect your Personal Information, no company, including us, can fully eliminate security risks associated with Personal Information.

How does MaxLend collect my personal information?

We collect your personal information, for example, when you

  • Apply for a loan
  • Give us your income information
  • Tell us where to send your money
  • Provide account information
  • Provide employment information
  • Provide Feedback

Personal Information from Other Sources

We also collect your personal information from others, such as credit bureaus, affiliates, companies who we have partnered with (collectively, "Partners") or other companies. We may associate this information with the other Personal Information we have collected about you.

Cookies and Other Tracking Technology

MaxLend uses cookies and other tracking technology, to monitor website performance. These other tracking technologies may include some combination of web beacons, clear GIFs, or pixel tags. Cookies and other tracking technology allow us to collect and store information, such as your browser type, your Internet Protocol (IP) address, operating system, the date and time you spend on our sites, the pages you visited, your language preferences, the solutions and information for which you searched and viewed, the advertisements displayed on MaxLend you clicked, and other anonymous visit data. We may use this information to improve the quality of our sites or to make MaxLend more useful to you.

We may share your content preferences and other information with the social network from which you have connected to MaxLend, along with those companies and persons you have asked us to share your information with. Additionally, if you provide feedback to us, we may use and disclose such feedback for any purpose, provided we do not associate such feedback with your Personal Information. We will collect any information contained in such feedback and will treat the Personal Information in it in accordance with this Privacy Policy. You agree that any such comments we receive becomes our property. We may use feedback for marketing purposes or to add to or modify our services without paying any royalties or other compensation to you.

MaxLend may also contract with third-party companies that use cookies, web beacons, clear GIFs, pixel tags, and other tracking technology for our sites' analytics and to advertise our products and services on unaffiliated websites and mobile apps. With our approval, these companies will have access to your information as needed to perform their functions, but they cannot use your information for any other purpose. These companies will not have access to information that can personally identify you.

YOUR CHOICES

Most web browsers are initially set up to accept cookies. Some web browsers have a "do not track" feature that lets you tell websites that you do not want to have your online activities tracked. In order to use our services offered through MaxLend however, your web browser must accept Cookies. If you choose to disable Cookies, some aspects of MaxLend may not work properly, and you may not be able to receive our services.

Why can't I limit all sharing?

Federal law gives you the right to limit only:

  • sharing for affiliates' everyday business purposes – information about your creditworthiness
  • affiliates from using your information to market to you
  • sharing for nonaffiliates to market to you

DEFINITIONS

Affiliates

Companies related by common ownership or control.

Our affiliates include financial companies such as other lenders.

Non-affiliates

Companies not related by common ownership or control. They can be financial and nonfinancial companies.

  • Non-affiliates we share with can include other lenders and direct marketing companies.

Cookies

Small pieces of information that a website sends to your computer's hard drive while you are viewing a website.

Internet Protocol Address or "IP Address"

A number that is automatically assigned to your computer when you use the Internet. In some cases, your IP Address stays the same from browser session to browser session; but if you use a consumer internet access provider your IP Address probably varies from session to session.

Joint marketing

A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Our joint marketing partners can include institutions such as other lenders or marketers.

Other:

We may disclose certain personal and non-personal information we collect from your use of our sites to companies that perform services on our behalf, including those who assist us in processing transactions, transactional communication, and responding to user inquiries.If you do not want us to use or disclose Personal Information collected about you in the manner identified in this Privacy Policy, you should not use MaxLend. In the event we go through a business transition such as a merger, acquisition by another company, sale of all or a portion of assets, or other business transition, your Personal Information may be among the assets transferred. You acknowledge that such transfers may occur and are permitted by this Privacy Policy, and that any acquirer of ours may continue to process your Personal Information as set forth in this Privacy Policy.



We may disclose your Personal Information if we believe in good faith that such disclosure is necessary to (a) comply with relevant laws or to respond to subpoenas or warrants served on us; or (b) to protect and defend our rights or property, you, or third parties. You hereby consent to us sharing your Personal Information under the circumstances described herein. MaxLend may contain links to other websites. Please be aware that we are not responsible for the privacy practices or the content of such other websites. This MaxLend privacy policy applies solely to information collected by us through www.maxlend.com and does not apply to these third-party websites. The ability to access information of third-parties from MaxLend, or links to other websites or locations, is for your convenience and does not signify our endorsement of such third-parties, their products, their services, other websites, locations or their content.

Our third-party platform provider is a third-party beneficiary of our third-party service provider’s arbitration, class action, and jury waiver provisions

Mobile Device Opt-Out: To opt-out of receiving targeted ads that are based on your behavior across different mobile applications follow the instructions below for iOS and Android devices:

     iOS 7 or Higher: Go to your Settings> Select Advertising> Enable the “Limit Ad Tracking” setting; and

     For Android devices with OS 2.2 or higher and Google Play Services version 4.0 or higher: Open your Google Settings App> Select Ads> Enable “Opt-out of interest-based advertising”.

Industry Opt-Out Tools and Self-Regulation: You may use the NAI opt-out tool [HERE] which will allow you to opt-out of seeing personalized ads from us and form other NAI approved member companies.

MaxLend is a sovereign enterprise, an economic development arm and instrumentality of, and wholly-owned and controlled by, the the Mandan, Hidatsa, and Arikara Nation, a federally-recognized sovereign American Indian Tribe (the “Tribe”). What does it mean to do business with a sovereign enterprise?

This means that MaxLend’s loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that MaxLend is not subject to suit or service of process. Rather, MaxLend is regulated by the Tribe. If you do business with MaxLend, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in MaxLend’s contracts, these forums include an informal but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, MaxLend is not subject to suit or service of process. Neither MaxLend nor the Tribe has waived its sovereign immunity in connection with any claims relative to use of this website or for any forums other than those specifically set forth in MaxLend’s contracts. If you are not comforatable doing business with a sovereign instrumentality that cannot be sued in court, you should discontinue use of this website and you should not borrow money from Maxlend Funds.

It is our belief and goal that doing business with our sovereign enterprise should be a positive experience. We pride ourselves on excellent customer service. Also, the Tribe has developed customer-friendly, efficient procedures for affordable resolution of any MaxLend customer dispute. We also offer the option of individual arbitration before a neutral arbitrator if neither customer service nor the Tribe’s dispute resolution protocol solve the problem. The Tribe works hard to ensure fairness and ease of use for positive MaxLend customer experiences. Our goal is to always make it right for the customer.

What will my loan cost?

The interest rate in this pricing grid is derived from the concept of charging a fee per $100 borrowed, per pay period. This method is used to calculate an interest rate on an amortizing loan. You can pay your loan back early without penalty – which may also reduce the finance charges you pay.

This table does not include the savings that members of MaxLend Preferred earn in the Rewards program when they choose ACH as their payment method.

Rates By Payment Method Chosen And Customer Category:

Weekly Pay Period

Bi-Weekly Pay Period

Semi-Monthly Pay Period

Monthly Pay Period

New Customer

up to $14.75

up to $29.50

up to $29.50

up to $59.00

Returning Customer

Electronic Debit Authorization (ACH)

See Rewards Level Discounts

See Rewards Level Discounts

See Rewards Level Discounts

See Rewards Level Discounts

Non-ACH payments

$12.25

$24.50

$24.50

$49.00

The loan agreement, provided upon approval, discloses loan details including the APR, which is based on borrowed amount, duration of the loan, customer rewards status and other factors.

Loan Payment Information

All loans have an agreed upon due date as covered in the customer loan agreement. If payment is not received by the due date, non sufficient funds fees or other fees may apply as detailed in each customer loan agreement. All collections efforts on past due accounts are conducted in a professional, fair and lawful manner in accordance with applicable laws. For customers having difficulty repaying their loan, repayment plans may be available. For further information please contact our customer service representatives at 877-936-4336.

*Same Day Funding is available on business days where pre-approval, eSignature of the loan agreement and completion of the confirmation call, if a call is required, have occurred by 11:45 a.m. Eastern Time and a customer elects ACH as payment method. Customers who complete this process by 1:30 p.m. Eastern on business days may still receive funds on the same day, but some banks may not disburse the funds until the next business day. Other restrictions may apply. Certain financial institutions do not support same day funded transactions. When Same Day Funding is not available, funding will occur the next business day.

MaxLend, is a sovereign enterprise, an economic development arm and instrumentality of, and wholly-owned and controlled by, the Mandan, Hidatsa, and Arikara Nation, a federally-recognized sovereign American Indian Tribe. (the “Tribe”). This means that MaxLend’s loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that MaxLend is not subject to suit or service of process. Rather, MaxLend is regulated by the Tribe. If you do business with MaxLend, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in MaxLend’s contracts, these forums include an informal but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, MaxLend is not subject to suit or service of process. Neither MaxLend nor the Tribe has waived its sovereign immunity in connection with any claims relative to use of this website. If you are not comfortable doing business with sovereign instrumentality that cannot be sued in court, you should discontinue use of this website.