Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.3
(20 Ratings)

Makwa Finance Review

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About Lender

Makwa Finance is a tribal lender offering short term installment loans to individuals and small business owners who may not have access to traditional banking services. These loans are a temporary solution not a long term fix for those who have unexpected expenses or emergencies. Makwa Finance is about easy access to funds, they provide a convenient and flexible borrowing experience for customers.

Owned by the Lac du Flambeau Band of Lake Superior Chippewa Indians, a federally recognized sovereign Indian nation, Makwa Finance operates under tribal law while following federal consumer finance regulations. In addition to installment loans they offer savings and checking accounts, micro-insurance and payment systems, they are committed to providing financial solutions to underserved communities.

makwa finance review

Key Features

  • Fast Funding. Makwa Finance knows emergencies can happen at any time so they have an online application process that can be completed in minutes.

  • Big Bear Rewards Program. The lender offers a Big Bear Rewards Program to customers as a way to say thank you for choosing us as your lender.

  • 24/7 Personal Service. This company takes customer service serious and provides 24/7 personal service to customers.

  • Tribal Law. They are chartered under Tribal law and operates under Tribal law and federal law.

  • Sovereignty. Makwa, LLC dba Makwa Finance, is a commercial enterprise and instrumentality of the Lac du Flambeau Band of Lake Superior Chippewa Indians, a federally recognized sovereign Indian nation.

Pros and Cons

Pros

  • Business Friendly Financial Operations. Makwa Finance has a user friendly platform for managing finances, accepting payments and tracking expenses, great for businesses.

  • Fast and Easy Access to Services. One of the biggest advantages is the speed and ease of access to services.

  • Transparent Terms and No Penalty Payments. Makwa Finance has transparent terms and no penalty payments.

Cons

  • Cost of Borrowing. Makwa Finance is considered an expensive form of borrowing, designed for short term borrowing needs not long term financial solution.

  • Customer Complaints. There are a lot of customer complaints according to the Better Business Bureau (BBB) profile of Makwa Finance.

  • Geographical Restrictions. The company does not lend to residents of certain states.

Reliability

    • BBB Rating. Makwa Finance has a D rating from the Better Business Bureau (BBB). This rating is based on several factors including the length of time the company has been in business, complaint volume and response to complaints. A D rating is not necessarily poor but indicates a high volume of complaints and may not be responsive to them.

    • Trustpilot Rating. The lender has a 4.7 rating on Trustpilot, which is a high rating. This means many of their customers have had a good experience with the company and may be reliable.

    • Tribal Regulations. The company is chartered under Tribal law and operates under Tribal law and federal law. This means the company is regulated under Tribal law and may be different from state regulations. Tribal regulations can add an extra layer of oversight and accountability that can make the company more reliable.

How to Apply for a Makwa Finance Loan?

Apply For a Loan

  1. Visit the Website. Go to Makwa Finance's official website.
  2. Provide Information. Specify your full name, email address and a desired loan amount, and press the "Apply Now" button.
  3. Fill Out the Application. Fill out the necessary information. This typically includes personal information, financial details, and the amount and purpose of the loan you're seeking.
  4. Submit Necessary Documentation. You might be required to submit documentation verifying your identity and financial situation.
  5. Review Terms and Conditions. Carefully read through the terms and conditions of the loan, including the interest rates, repayment terms, and any fees associated.
  6. Submit the Application. Once you've completed the application and are comfortable with the terms, submit your application.
  7. Wait for Approval. After submission, there may be a waiting period while your application is reviewed. The duration of this period can vary.
  8. Check Your Email or Account. Keep an eye on your email for updates regarding the status of your loan.

  9. Receive Funds. If approved, the funds will be deposited into your bank account or provided to you through another specified method.

Conditions and Requirements

Conditions

  • Loan Amount. Makwa Finance loans go up to $2,500.

  • Interest Rates. Interest rates not disclosed upfront, disclosed in loan agreement.

  • Loan Terms. Terms, including repayment schedule and conditions, in loan agreement provided upon approval.

Requirements

  • Regular Income. Must have regular income to qualify for loan.

  • Age And Citizenship. Must be 18 years old and a U.S. citizen.

  • Active Checking Account. Must have an active checking account to apply for loan.

  • Military Status. Cannot be active military or dependent of active military.

Ways to Receive the Money

Makwa Finance has a simple loan application process that saves you time and effort. It checks your credentials against multiple national databases when you apply online or by phone. Once you apply online or by phone and provide some basic information, approval is usually minutes. It can process your online application and use automatic funding to deposit funds directly and quickly into your bank account. But it’s always best to talk to one of the loan officers. Once your loan application is processed and approved, Makwa will deposit funds directly and quickly into your bank account the next business day, as long as you meet the 6:00 p.m. CST cut-off Monday-Friday and you e-sign your online loan documents and verify your loan details.

Products

Makwa Finance offers short term installment loans to its customers, which can be perfect for those who need quick access to funds to cover unexpected expenses or emergencies. These loans are paid back over a fixed number of payments made at regular intervals until paid in full. The structure allows for a payment schedule which is good for budgeting.

Other Personal Loans

Reasons for Loan Refusal

Why you may be refused a loan at Makwa Finance: residency restrictions, below minimum age, low income or failed underwriting and verification. These are in place to ensure you have the financial stability and eligibility to meet loan repayments. Why you may be refused a loan at Makwa Finance: residency restrictions, below minimum age, low income or failed underwriting and verification. These are in place to ensure you have the financial stability and eligibility to meet loan repayments.

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How to Repay a Makwa Finance Loan?

Repay

Paying back a loan at Makwa Finance is based on a payment schedule outlined in the loan agreement which shows payment amounts and due dates. It’s highly recommended to pay off the loan as soon as possible since Makwa Finance doesn’t charge any penalties or fees for early payoffs. This makes the repayment process smoother and reduces the total cost of your loan. If you need help with early payoffs, a Customer Success Agent is available at 855-853-4392.

Loans like Makwa Finance

OppLoans

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OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.

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Rise Credit

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RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.

About Rise

OneMain Financial

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OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.

About OneMain Financial

Universal Credit

Apply for a Loan

Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.

About Universal Credit

Editorial Opinion

Makwa Finance offers short term loans to those underserved by traditional banks. Penalty-Free Early Payoff Policy promotes financial responsibility, Big Bear Rewards Program and 24/7 service is great for customers. But geographical restrictions and borrowing costs may not be for everyone. Mixed reviews on BBB and Trustpilot and governed under Tribal Law may not be clear for some. Despite these issues, Makwa Finance’s online and user friendly platform makes it a good option for individuals and small business owners in need of quick cash.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

    Additional Resources

    Sources

    FAQ

    How do you qualify for a Makwa Finance loan?

    Makwa Finance is committed to offering its clients easy and transparent funding solutions. If you fulfill the minimum eligibility criteria listed below, you are highly likely to qualify for the funding you require.

    1. You should have a regular source of income.
    2. You must be at least 18 years old and a U.S. citizen.
    3. You should have an active checking account.
    4. You should not be actively serving in the military or be dependent on someone actively serving in the military.
    5. Other specific requirements may also apply.

      How much can you borrow from Makwa Finance?

      New customers who meet the eligibility criteria can obtain a loan of up to $1,500. Existing customers who meet the eligibility criteria can obtain a loan of up to $2,500.

      Does Makwa Finance approve everyone?

      No, Makwa Finance does not approve everyone who applies for a loan. To be eligible for a loan from Makwa Finance, applicants must meet certain criteria, including having a regular source of income, being at least 18 years old and a U.S. citizen, having an active checking account, and not actively serving in the military or being a dependent of someone actively serving in the military. Makwa Finance also considers factors such as credit history and income when evaluating loan applications. Meeting these requirements does not guarantee loan approval, as each loan application is subject to underwriting and verification processes to determine creditworthiness and ability to repay the loan.

      Is Makwa Finance a legitimate company?

      Yes, Makwa Finance is a legitimate company. It is a commercial enterprise and instrumentality of the Lac du Flambeau Band of Lake Superior Chippewa Indians, a federally recognized sovereign Indian nation. Makwa Finance is chartered under and operates pursuant to Tribal law and applicable federal law. The company provides short-term installment loans to customers who meet the eligibility requirements and is committed to providing accessible and transparent funding solutions. While Makwa Finance has a D rating from the Better Business Bureau, it also has a high rating on Trustpilot. It operates under Tribal regulations, which can provide an additional layer of oversight and accountability. Overall, while there may be some concerns regarding its reliability, Makwa Finance is a legitimate company that provides financial services to customers.

      Makwa Finance is a member of both the Online Lenders' Association (OLA) and the Native American Financial Services Association (NAFSA). OLA is a trade organization that represents the growing industry of companies offering loans online. As a member of OLA, Makwa Finance is committed to adhering to industry best practices and standards and complying with applicable laws and regulations. NAFSA, on the other hand, is a nonprofit trade organization that advocates for the economic self-sufficiency of Native American sovereign nations through financial services. As a member of NAFSA, Makwa Finance is committed to providing transparent and responsible lending practices that benefit Native American communities. Overall, Makwa Finance's membership in these organizations reflects its commitment to providing accessible and responsible financial services to its customers.

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      When you need funding, Makwa Finance has you covered.

      © Makwa Finance
      Offers
      Makwa Finance
      Installment Loan
      Rating by Finanso®
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      The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

      3.32
      (20 Ratings)
      Recommended FinScore™
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      up to $2,500
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      Interest rate

      specified in the loan agreement
      Term
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      Loan term for the financial product

      specified in the loan agreement
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      Rating by Finanso®
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      3.93
      (20 Ratings)
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      Makwa Finance reviews 2025
      Leave feedback
      4.6
      Pros
      Rapid and hassle-free loans with the possibility of receiving funds as early as the next day!
      Complain
      4.2
      Pros
      I valued the transparent and open communication throughout the loan process. The Makwa representative demonstrated a deep understanding of my situation and meticulously explained each step, ensuring I had all the necessary information at every stage.
      Complain
      4.4
      Pros
      Their support for customers is remarkable, and their efficiency, courtesy, knowledge, and attentiveness, coupled with friendly staff, truly stand out.
      Complain
      2
      Cons
      I urgently needed funds for an emergency situation and was initially told they would be available the next day. However, I'm still waiting, and when I contacted customer service, I was met with rudeness and informed that it would take a few more days. This experience has left me with no intention of doing business with this company in the future.
      Complain
      4.4
      Pros
      I was highly impressed with the simplicity, speed, and the loan amount provided. Working with this company has been a great experience.
      Complain
      2.4
      Cons
      I'm attempting to apply for a second loan, but the website is not accepting my information, despite having paid off my previous loan early. It's unclear why I'm encountering this issue.
      Complain
      4.2
      Pros
      I greatly appreciate their willingness to collaborate with me on the payment plan, which was incredibly helpful. Additionally, I'm a fan of the rewards program they offer.
      Complain
      2.4
      Cons
      They incorrectly labeled the account for depositing my funds, resulting in the loss of my money. When I reached out, I was simply told to wait until the funds are returned, with no effort made by customer service to address the issue. Consequently, I now have an open account with no access to the funds that were supposed to be there, despite the error not being my fault.
      Complain
      4.6
      Pros
      The loan application process was incredibly simple, and I received a prompt approval. The customer service team provided excellent assistance throughout. When I needed a bit more than initially approved, they went the extra mile to accommodate me, something I haven't experienced with any other loan company.
      Complain
      1.8
      Cons
      I initially requested a $5,000 loan but ended up with only $1,100. Now, I find myself owing them $6,600 due to what they call as interest. To be honest, I find this situation quite absurd. While I do need the money and understand that businesses need to make a profit, paying six times the borrowed amount feels excessive. It's hard for me not to view this as a potential scam.
      Complain
      aggregation.company.allReviews
      Company rating
      3.3
      / 5
      20 reviews
      Application
      3.2
      Support service
      3.3
      Mobile App
      3.4
      Service quality
      3.3
      Your satisfaction level
      3.5
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