Makwa Finance Review: Fast Cash for Bad Credit, But Sky-High Rates (2025)

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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Finder Score	Loan amount	Turnaround time	Requirements	bullet point infobox
Promoted Finder score 9.5 Excellent EarnIn	Finder score 9.5 Excellent	Up to $150/day, with a max of $1000 between paydays	1 to 2 business days or within 30 minutes for a fee	At least 18 and a US resident, Valid Social Security number, At least 60 days of banking history, Proof of consistent income, Positive bank balance, Get paid by direct deposit.	Access up to $150 per day, with a max of $1000 between paydays. Subject to EarnIn terms & conditions.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 8.7 Great Current	Finder score 8.7 Great	$50 to $750	Up to 3 days or within an hour for a fee	Among other factors, you must receive a monthly total of $500 or more in Eligible Payroll Deposits into your Current Account.	Get up to $750 before payday, once you qualify. Paycheck Advance is an earned wage access service and is not a loan or credit product. Subject to Paycheck Advance Terms and Conditions.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 8.2 Great Cleo	Finder score 8.2 Great	Up to $250	3 to 4 days or instant for a fee.	Not stated	Automatically monitor your spending plus access cash advances up to $100 at a time.	Go to siteMore info Compare product selection Compare	loading
Finder score 9.4 Excellent OppLoans Installment Loans	Finder score 9.4 Excellent	$500 to $5,000	As soon as the same business day	+18 years old, Receive paychecks through direct deposit, $1,500 minimum monthly income, Live in eligible state	Not available in: CO, CT, GA, IA, MD, MA, NY, SD, VT, WV. Comes with the option to change your due date so you won’t fall behind on repayments.	Go to siteMore info Compare product selection Compare	loading
Finder score 9.1 Excellent CreditNinja Installment loan	Finder score 9.1 Excellent	$300 to $5,000	1 to 2 business days	Checking account at least 60 days old, regular income through direct deposit, resident of eligible state, age of majority in your state	Not available in: AK, CO, CT, FL, GA, IL, IA, KY, ME, MD, MA, MT, NV, NH, NJ, NM, NY, NC, ND, OR, VT, VA, WA, WV. Fast online funding up to $5K, but you won't know about rates and terms until after you apply.	Go to siteMore info Compare product selection Compare	loading

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What is the Finder Score?

The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.

Read the full breakdown

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

Makwa Finance contact info

Calculate your monthly loan payments

Use our loan repayment calculator to compare monthly payments and the total cost of the loan based on different rates and loan terms.

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:

1. Visit its website and select Get Started Now.
2. Fill out the online loan application.
3. Verify your information online or by phone.
4. Review and e-sign your loan agreement if approved.
5. 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

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.