Maxlend Loans Review

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Sometimes we find ourselves in a pinch and need access to some fast cash. If family or friends can’t help us out, then it’s best to rely on a loan. Banks often turn down loans unless absolute necessity or if they have verified income. At times, if you’re working gig jobs, are unsure about future employment, or just don’t want to give personal information, then using a loan company service can help.

The whole process with Maxlend is that you can apply and get a loan within a few days. Their entire process is simplistic and hassle-free. Plus, they can either be contacted through their phone or website.

If you’re on the fence of whether or not you should use Maxlend or not, then we’ve got you covered. We’ve taken the time to research all of Maxlend’s services. We’ll give you a detailed breakdown of their lending amount, different interest rates, and how you can apply them.

Payday Loans

Payday loans are exactly what they sound like. They can be repaid back at your next paycheck. These types come with a high-interest rate but are useful for people who need quick cash.

Maxlend offers up to $2,500 on their payday loans. Although, the company urges its clients not to borrow more than they can pay off. You may also request less money to borrow in the first place. Their minimum being $600

Installment Loans

Maxlend offers short term installment loans. They provide multiple payment plans with set interest rates.

These are often referred to as payday loans, as you can slowly pay off the debt. Plus, they don’t have collateral, and the APR rates are often lower than payday loans.

Advanced Loans

Advanced loans are short-term advances that are quick for approval. These are popular amongst those needing fast cash for bills or other essentials. They have a high APR rate but can be paid back within 1-2 installments. Plus, they are often relatively small and won’t build up interest.

Cash Loans

Cash loans are good for last-minute expenses. They are short-term installment loans that come with a fixed APR rate. The length of repayment is often stated beforehand and can range from a few months to a few years.

This is useful for those who don’t know if they will pay a large sum of money off on their next paycheck. However, the interest does add up over longer repayment times.

Personal Loans

The last type that Maxlend offers is personal loans. They can range from smaller amounts, such as $50 to even $50,000. The amount borrowed is determined by what you’re using it for.

Larger amounts are good for student loans, mortgages, or auto loans. The downside is that they often come with high-interest rates and extended repayment lengths. However, if you miss one or two payments, they can affect your credit.

What’s the Borrowing Process Like At Maxlend?

Borrowing from Maxlend is relatively easy. All you’ll need to do is fill out and apply for a quick and secure loan. You just need to fit their minimum loan application requirements – which are similar to any other loan company.

After filling out an online application, you’ll be able to eSign your documents right away. It may take a bit for a customer service representative to call you back, but it’s usually less than 24 hours.

They will confirm your details, and you’ll then be sent a copy of your application via email. After that, all you’ll need to do is wait until everything is in order. Maxlend will then deposit the money into your bank account.

Maxlend Maximum Loan Borrow

It depends on what type of loan you sign up for. Maxlend is adamant about not having borrowers lend more than they need. This is because some of the loans go pretty high.

That being said, for personal loans, you’re looking at a maximum of $2,500 for instant cash. This can help you through a tough time or from missing a bill. Just know the APR rate will be much higher than before.

However, if you’re trying to get a large loan for refinancing, mortgage, etc., then the number can go up to $50,000. This is good for one time projects that need a large sum of money.

Just beware that the APR rates are going to be high on these loans. They are only worth it if you have a stable income. If you can’t even make one of the payments, you will see drastically how easy it is to stay in debt.

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  • Age 18years or older
  • Have regular income
  • US citizen or permanent resident
  • Have a valid bank account
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What Fees or Rates Are Associated With The Loan At Maxlend?

There are no associated fees for signing up or being approved by Maxlend. Instead, Maxlend provides quick and easy loans that get deposited fast. In most cases, borrowers can expect to see the money in less than 24 hours, even if it’s a considerable amount.

The main issue with Maxlend is that their APR rates are one of the highest you’ll find. Most of their standard loans or payday alternatives have an APR rate of 471.78-841.45. So, is it worth that extra interest?

What Happens For Non-Payment At Maxlend?

If you even miss one payment with Maxlend, you will be subjected to additional fees and penalties. These fees will be listed in your loan agreement. Aside from that, it will also hugely impact your credit score.

With an already large APR and interest rate, do you really want to be paying more on top of that? Honestly, we don’t think it’s worth it unless you have the income to make every single repayment on time.

Is Maxlend A Legit Loan Company?

Yes, Maxlend is a legitimate United States company. They are federally recognized as a loan company. However, their APR rates seem sketchy, and many times potential borrowers decide to skip them.

Maxlend Loan Form Process

Start by heading to their main website and filling out their application form here. The application form must be filled out even to be considered for a loan. Here’s the type of information that they are asking from you;

  • First and last name
  • Birthday
  • SSN
  • Email
  • They will also require you to provide where you live
  • Street address
  • Apt #
  • City, state
  • Zip Code
  • And an active phone number

From there, you will eSign the documents and will need to wait for a representative from Maxlend to contact you to finalize the details.

Advantages of Maxlend Loans
  • Сonsiderable loan amount (up to $50,000) even with bad credit;
  • Many different loan typest;
  • Quick loan process;
Disadvantages of Maxlend Loans
  • High-interest rate;
  • If you miss a late payment, they will add on additional fees and up the interest rate;

Maxlend Loan Requirements

To qualify for a Maxlend loan, you must fit the set criteria. Compared to other lenders, the criteria are minimal. One of the first criteria is to be able to provide a verifiable source of income. This can be anywhere from bank statements, pay stubs, or CPA certified documents.

Next, you’ll need to have an opening checking account that meets their bank account minimum opened duration. This just helps ensure that borrowers don’t open an account just for the purpose of a loan.

Aside from that, you must be over the age of 18 and a US resident. This means having a social security number and US identification.

Maxlend offers different amounts of loans, which is why they may have higher standards than other lenders for specific loans. One of their other criteria is that you must not currently be in a debtor bankruptcy. This ensures that they will get their money back.

Does Maxlend Operate in All States?

Unlike other lenders, Maxlend operates in almost every state. When they don’t offer a particular state, they will update their website and grey out the selected state. As far as we know of 2020, they accept all states in America.

Applying Online With Maxlend to Get a Loan

Aside from filling out a form and meeting their basic requirements, you must also have enough income. Credit isn’t always a determining factor, so even if yours is low, it won’t matter. They also carefully consider if you’re a student or are in bankruptcy.

When contacting Maxlend, be sure to voice all of your concerns. Their customer support representatives can help choose a plan that works for your payment schedule. You won’t want to end up paying off the debts for years to come.

Does Maxlend Have Any In-Store Walk-ins?

Maxlend does not offer in-store consultations. Instead, all of their work is completed online. From there, you can easily fill out their application and wait until they contact you.

There is one Maxlend location, but it’s mainly used as a call center and where the main team gathers. Aside from that, they don’t have any stores that allow in-store loans. So, it’s best to either apply by phone or online.

What Time Does Maxlend Operate?

Maxlend doesn’t have a set specific time of when the company opens or closes. If you need to get a hold of them, then call the company at 1-887-936-4336.

They are open 24/7 and seven days a week. They are willing to answer any of your questions and help assist you with any issues of the loan process. They can help you with your loan, what type of loan is right for you, or see if you would qualify for a loan from them.

Our Conclusions

Maxlend is a unique yet very efficient loan company for those taking on big projects. Instead of just payday loans, they offer a wide array of different loan types. This includes bigger ones that can cover projects such as your home, investments, etc.

That being said, their interest rates are off the charts. If you know you have money coming that can cover the expenses of the loan, then we highly recommend you use the company. However, if you’re on the other side of the boat and don’t have the income to cover the repayment schedule on time, we’d say to skip Maxlend.

Maxlend is an excellent place for those who have money, not people who have no money and need assistance. There are other loan companies with much lower APR rates with more extended repayment plans to help shorten how much you pay back every few weeks or months.

Overall, we believe that Maxlend is a good company if you need fast cash. But, it’s not a company that should be used unless you have enough money to pay them back on hand. Our bottom line will be to only borrow from them if you know you can pay it back.

( 65 votes, average: 8.6 out of 10)