MaxLend

MaxLend is a tribal lender that offers online installment loans under the jurisdiction of the Mandan, Hidatsa, and Arikara Nation, a federally recognized Native American tribe. As a tribal lending entity, MaxLend operates under tribal law rather than state consumer lending laws, which means it may not be subject to the same interest rate caps or consumer protection requirements that apply to lenders licensed in your home state.

This is an important distinction for consumers to understand. Many states have laws that cap the annual percentage rate on consumer loans at levels well below what tribal lenders charge. Because tribal lenders assert sovereign immunity from state law, they may offer loans with very high annual percentage rates in states that would not permit such rates from a state-licensed lender.

MaxLend installment loans may carry extremely high annual percentage rates. The total repayment cost over the full loan term can be several times the original loan amount. Before considering any tribal lender, calculate the total dollar cost of the loan and compare it against all available alternatives.

Alternatives to consider include credit unions and community banks that serve members with poor or limited credit, Community Development Financial Institutions that provide affordable small-dollar loans, nonprofit emergency assistance funds, and employer wage advance programs.

Regulators, consumer advocates, and attorneys general in several states have raised concerns about tribal lending models and their treatment of state consumer protection laws. Consumers with concerns about a tribal lender's practices can contact the Consumer Financial Protection Bureau or their state attorney general's office.

If you do consider MaxLend, review all terms carefully, understand the full repayment cost, and explore every alternative first.