Is Makwa Finance legit?
Despite what should be considered practically criminal interest rates, Makwa Finance does offer installment loans. So, while it’s not a scam, it can hardly be considered legit when it charges rates as high as 795% to customers who are often already in vulnerable financial positions.
It’s a tribal lender owned by the Lac du Flambeau Band of Lake Superior Chippewa Indians, a federally recognized sovereign Indian nation. That means it operates under tribal laws and doesn’t have to follow your state’s lending laws. Makwa Finance, the Tribe and some of its affiliates have been involved in multiple lawsuits.
How Makwa Finance compares to other lenders
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Where Makwa Finance falls short?
Not only does Makwa Finance charge astronomical rates, it’s not transparent about rates, fees or loan terms on its website. It has an entire webpage titled “Interest Rates,” yet there isn’t any information about what it actually charges. Applicants have to wait until they’re approved before finding out how much the loan costs, at which point many people in desperate need for funds may feel pressured to sign.
If you need to borrow money quickly, there are better options for bad credit loans that also offer funding within a day or two. For smaller financial needs, you may want to consider cash advance apps instead, which are typically easy to qualify for as long as you have a bank account and a steady source of income. Most cash advance apps don’t even require a credit check.
What makes Makwa Finance shine?
Makwa Finance offers a rewards program, known as Big Bear Rewards, where you can earn points for taking surveys or just making on-time payments. Points can be redeemed for national brand gift cards or to pay down your loan balance.
Makwa Finance loan details
| Minimum credit score/credit range | No minimum |
| APR | 300% to 795% (based on customer reviews) |
| Loan amount | $200 to $2,500 |
| Terms | Up to 12 months |
| Approval turnaround | Typically by the next business day |
| Availability | Not available in: Arkansas, Connecticut, New York, Pennsylvania, Vermont, Virginia, West Virginia, Wisconsin |
| Fees | |
| Other fees | Unknown |
Makwa Finance contact info
| Phone number | 855-853-4392 |
| Customer service hours | Weekdays: 9 a.m. to 5 p.m. |
| customerservice@makwafinance.com | |
| X ,formerly Twitter | N/A |
| N/A |
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How to qualify for Makwa Finance
These are the minimum requirements to qualify for Makwa Finance:
- At least 18 and a US citizen
- Active checking account
- Regular source of income
- Not an active military member or a dependant of an active member
How to apply
Follow these steps to apply to Makwa Finance:
- Visit its website and select Get Started Now.
- Fill out the online loan application.
- Verify your information online or by phone.
- Review and e-sign your loan agreement if approved.
- Receive your funds. They’re typically deposited on the next business day, but same-day funding may be possible.
Makwa Finance says you’ll need to meet certain credit requirements, although it doesn’t specify what those are. Typically, a hard credit check is required to apply.
Makwa Finance reviews and complaints
| BBB accredited |
No |
|---|---|
| BBB rating |
B- |
| BBB customer reviews |
1.3 out of 5 stars, based on 27 customer reviews |
| Trustpilot Score |
4.6 out of 5 stars, based on 5,775 customer reviews |
| Customer reviews verified as of |
01 October 2025 |
There are virtually no positive reviews of Makwa Finance on the Better Business Bureau (BBB). In fact, many reviewers urge others to stay away. Customers on Trustpilot appreciate the easy application process and fast funding. But even many positive reviews point to excessively high rates, and recommend only using it in an emergency if you can pay it back quickly.
Other complaints include rude and unhelpful customer service, unauthorized payments taken, high fees and having to repay three or four times the amount they borrowed. A few customers also claim they were sent a larger loan amount than requested but were unable to cancel it, putting them in an even more precarious financial position trying to pay it back.
What do people on Reddit say?
Makwa Finance is mostly only mentioned in passing on a few threads discussing tribal loans in general. But someone asked for advice about revoking ACH payments and defaulting on loans from Makwa and another tribal lender. A few people said you’ll be sent to collections, and it’ll hurt your credit, so it’s not worth it. However, another Redditor said they were able to negotiate a lower settlement after stopping payments.
