Update: Read This Before You Apply For a Loan
Our Review of Majestic Lake Financial

Review Summary
Majestic Lake Financial is a tribal lender offering short-term installment loans to customers with bad credit. The lender is owned by the Habematolel Pomo of Upper Lake, California, and is operating within the tribe’s reservation. But is a loan from Majestic Lake Financial worth it in the end? We investigate…
PROS
– Decent option if you have bad credit and have exhausted all available resources
– Fast access to cash and funding
– Application process is fast, smooth and straightforward
– Decent option for short term emergency financing
CONS
– Not a good option if you are comparing lender rates
– Not a good solution for large financial purposes
– Interest rates can be as high as 2,290% APR
What is Majestic Lake Financial?
First, thank you for visiting our site and reading our guide on Majestic Lake Financial reviews. Most bad credit borrowers should be able to get a loan, even with poor credit, but you need to meet a few requirements first. The minimum requirements are:
- Must be at least 18 years old and live within the United States
- Must have a form of reliable income
- Must have a valid checking or savings account
- Must have the proper photo identification (driver’s license, etc)
Recent Reviews
How Much Can I Borrow?
A few key points you should keep in mind is this: the more you borrow, the longer it takes to repay…and the more you’ll pay in interest rate fees. How much can you borrow from Majestic Lake Financial? According to the lender, you can borrow as little as $300 up to a maximum of $1,000. New customers are maxed out at $1,000, while returning customers that have built a positive relationship with MLF, can borrow up to $1,500. A few key points you should keep in mind is this: the more you borrow, the longer it takes to repay…and the more you’ll pay in interest rate fees. The last thing you want to do is dig a deeper hole in debt.
First Time Customer Loan Amounts
- Minimum – $300
- Maximum – $1,000
Returning Customer Loan Amounts
- Minimum – $300
- Maximum – $1,500
The Loan Rates and Terms
Since Majestic Lake Financial is taking a severe risk, they compensate for this by charging astronomical interest rates. If a borrower fails to make their payments, this higher than average interest rate will cover the loan in the event you default. The average tribal loan interest rates across all lenders that we have analyzed is approximately 440%. The high interest rates is one of the most disappointing things about this lender, according to the Majestic Lake Financial reviews we analyzed.
Here’s How Much a Loan Might Cost
$300 Loan at 200% APR With a 6 Month Repayment Term
- Amount Financed – $300.00
- Payment Every Month – $82.86
- Total of 6 Payments $497.16
- Total Interest – $197.16
- All Payments and Fees – $498.16
$300 Loan at 999% APR With a 6 Month Repayment Term
- Amount Financed – $300.00
- Payment Every Month – $256.52
- Total of 6 Payments – $1,539.15
- Total Interest – $1,239.15
- All Payments and Fees – $1,540.15
$1,000 Loan at 200% APR With a 6 Month Repayment Term
- Amount Financed – $1,000.00
- Payment Every Month – $276.20
- Total of 6 Payments – $1,657.19
- Total Interest – $657.19
- All Payments and Fees – $1,658.19
$1,000 Loan at 999% APR With a 6 Month Repayment Term
- Amount Financed – $1,000.00
- Payment Every Month – $855.08
- Total of 6 Payments – $5,130.49
- Total Interest – $4,130.49
- All Payments and Fees – $5,131.49
How to Apply for a Majestic Lake Financial Loan
If you still want to apply for a loan, despite the Majestic Lake Financial reviews, here’s the details and information will will need to complete the application. As most customers point out, the application process is super simple.
Step 1
How Much Do You Need? On this step, you will select how much money you’d like to borrow. Once you do this, you will need to select if you are a new or returning customer. The rest of this tutorial will focus on new customers only.
Step 2
Enter Your Personal Details. On this step, you simply need to enter your personal contact details. This information includes:
- First Name
- Last Name
- Are You in the Military? (yes or no)
- Email Address
- Check the boxes to agree
Step 3
Finalize Your Personal Details. On this step, you’ll continue entering your personal contact details, along with the following information:
- Street Address
- Date of Birth
- Home Phone #
- Cell Phone #
- Social Security #
- Drivers License Number
- Drivers License Issuing State
Step 4
Enter Your Employment and Income Details. On this step, Majestic Lake Financial needs to know if you are employed, and if so by who. You’ll also need to enter your income details.
- Employer Name
- Employer Phone Number
- Employment Status (employed, un-employed, retired, etc)
- Monthly Income
- Direct Deposit?
- Pay Frequency (weekly, bi-weekly, monthly, etc)
- Your Next Pay Date
- Your 2nd Pay date
Step 5
Enter Your Bank Information. On this final step, you need to enter your banking and financial information. This includes the following:
- Bank Name
- Bank Routing Number
- Bank Account Number
- Account Type (checking or savings)
- Length of Time at Bank
The Advantages of Majestic Lake Financial
MLF typically approves anyone, regardless of credit history. However, keep this in mind: your interest rates will depend on your credit score. The advantages? Despite an astronomical interest rate, there are a few positive Majestic Lake Financial reviews. Borrowers not able to secure emergency financing from traditional lenders might see key benefits. MLF typically approves anyone, regardless of credit history. However, keep this in mind: your interest rates will depend on your credit score. MLF does not state an exact interest rate formula as it pertains to your credit score, but we do know that if you are seen as a higher than average risk, you’ll pay the maximum interest rate.
The Disadvantages of Majestic Lake Financial
And it’s not only the high interest rates…there’s far more to the story. Listed below are the main disadvantages you’ll find with this lender.
- Excessive interest rates starting at 200% APR and maxing out at 2,290% APR
- The longer the loan term, the more you’ll pay in excessive interest rates. See our example above
- A tribal loan can force you into a life of never ending, soul-crushing debt
- If you don’t have available funds, MLF can overdraft your bank account
- If you can’t make on-time payments, you will be charged late payment fees on top of the interest rates
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