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Business Profile

Consumer Finance Companies

Makwa Finance

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Consumer Finance Companies.

Complaints

This profile includes complaints for Makwa Finance's headquarters and its corporate-owned locations. To view all corporate locations, see

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Makwa Finance has 2 locations, listed below.

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    Customer Complaints Summary

    • 82 total complaints in the last 3 years.
    • 6 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:01/10/2025

      Type:Order Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have paid this company a total of $1,093.**. They now want over $3,000 to pay off the loan. This is ridiculous. They got my auto draft payments and their APR is outrageous. Please help get this resolved and settle in full as soon as possible.

      Business Response

      Date: 01/15/2025

      Please see the attached response.

      Customer Answer

      Date: 01/15/2025

      [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

      Regards,

      Joshalette *******

    • Initial Complaint

      Date:07/02/2024

      Type:Order Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Makwa finance. Loan approved for 200 dollars upon verification of personal information. But they will not tell me what information is needed.

      Business Response

      Date: 07/03/2024

      Please see the attached response.

      Customer Answer

      Date: 07/03/2024

      [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

      Regards,

      *********************************

    • Initial Complaint

      Date:06/07/2024

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Last August I took out a $2500.00 loan with Makwa Finance, the terms were $632.79 for 18 months. After 9 payments a total of $5695.11 has been paid toward the loan. I'm in a place financially where I can no longer afford the payments. After speaking with several representatives about this situation; I want to have the loan settled/closed. I have paid off three previous loans with no problems, now I can't afford this one, it is the highest payment and they are unwilling to work with me. They want me to continue to make payments which would total an amount of $5897.16 or payoff sooner for an amount of $3467.12. I feel like I am giving them money, it's no longer a loan it's a gift, and like I told them we are not family or friends.As of November 2023 Makwa Finance can no longer lend to the residents in ********. I want this resolved the only way which is closed/settled. Thank you.

      Business Response

      Date: 06/12/2024

      Please see the attached response.

    • Initial Complaint

      Date:05/31/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On May 31,2024 I contacted Makwa to pay off my loan . My principal balance is ****** with a payment due of ******. After speaking with a supervisor I was informed that my payoff would be ******* which I agreed on. I was placed on a brief hold and then informed that I would also be charged an additional payment of ****** the following Wednesday. This was on top of the agreed payoff of *******. I informed them that I would not pay the additional payment and that our agreed payoff was the only thing that I would pay. This makes no sense, ******+ ****** does not add up to the ******* they are asking for. I was told that it was due to interest on the loan.

      Business Response

      Date: 06/04/2024

      Please see the attached letter.

    • Initial Complaint

      Date:05/29/2024

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I got a loan in the $650 in February with an agreement to pay $183 every other week. I got this loan out of desperation and did not pay enough attention to the absurd interest rate. I've made 6 payments of the above mentioned amount for a total of $1100.76 but when i go try to pay off my loan, i apparently owe $930.59. This seems like an absurd amount for a payoff when i have already paid them over $1000.I would like to include my loan documents in this complaint, however i have not been able to obtain it from makwa finance.

      Business Response

      Date: 05/30/2024

      Please see the attached response.

      Customer Answer

      Date: 06/09/2024

      [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

      Regards,

      *****************

    • Initial Complaint

      Date:04/08/2024

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I got this loan out of desperation. I borrowed 1100 and agreed to pay $272 bi-weekly, with the thought that I would have that paid off in under 4 months. To my shock, I logged on to my account shortly after receiving the funds and my balance due is over $4000! The interest rate is insane and a morally wrong. I will never be able to pay off this loan. I am hoping that the company will work with me and freeze the interest. I will have to file bankruptcy at this rate.

      Business Response

      Date: 04/10/2024

      Please see the attached response.

    • Initial Complaint

      Date:04/08/2024

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I received a payday loan from Makwa Finance in the amount of $800 in December 2023, with an interest rate of 795%. I have made on-time payments of $225.55 every other week since then, through automatic debiting of my checking account, for a total of $1,466.07 in payments.On April 3, 2024, I attempted to pay off the balance of my loan, with interest, for a total amount of $845.48. I had sufficient funds in my checking account, but ********************** marked the payment as "Missed/Failed." They did not notify me of the payment failure. On April 8, 2024, I called Makwa following a notification that another biweekly $225.55 payment was pending. The customer service agent, while friendly, was unable to find a reason for why the payment failed. The agent was also unable to explain why I did not receive a notification that the payment was unsuccessful. I also spoke to my financial institution on April 8, 2024, which has no record of denying the transaction. I attempted to pay off the loan once more on April 8, 2024, for a total payoff amount of $920.44. This payoff request was submitted by the customer service agent. I had sufficient funds in my account to complete this payment.Makwa is able to debit $225.55 from my bank account every other week, and has done so for over 4 months. It is not clear why there would be any issue in paying the balance of the loan. Given that (a) I attempted to pay off the loan on April 3; (b) I had sufficient funds in my account on that date to pay off the loan; (c) I received no notification from Makwa alerting me to the payment failure; (d) I have no explanation from either Makwa or my financial institution regarding why the payment was declined; and (e) Makwa is able to draw funds from my account biweekly with no issue, I am severely disappointed in the servicing of this loan. I am asking to be refunded the difference between the two payoff amounts from April 3, 2024 and April 8, 2024, which is $74.96.

      Business Response

      Date: 04/10/2024

      Please see the attached response.

      Customer Answer

      Date: 04/12/2024

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

      Regardless of legality, the business engaged in poor customer service practices and inconsistent policies related to the collection of customer funds. It is therefore incredibly difficult to have confidence in the business' ability to appropriately service loans. I currently cannot in good conscience recommend this business to others. 

      Regards,

      *******************************

      Business Response

      Date: 04/19/2024

      Please see the attached response.

    • Initial Complaint

      Date:03/28/2024

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Makwa finance funded me $1700 on 9/13/2023 loan # *******. At the time I did not realize that the finance charge was going to be 650% and i would be paying $5,405.86 in finance charges for a $1,700 loan that i took when i was in financial hardship. I have as of today made 11 payments in the amount of $394.77 which equals $4,342.47 and 1 payment of $197.38 for a total of $4,539.85. Which is way over the amount I was originally funded. To date, I still have 5 more payments to go until this loan is paid in full according to customer service which will will total another $1,993.20. I am at a point financially were I cannot continue to make these high bi-weekly payments and I have tried to settle this account for the principal amount mulitple times and was told I could not do that. As of today the principle amount is $989.74. I want to close this account if possible as paid in full, i feel like I have paid more than enough and never had an issue before. I dont want to be on bad terms, i just cannot continue the remaining payments because financially its draining me. I just want the account to be considered paid in full and on good terms. i feel like I have paid WAY more than enough on this loan. thank you.

      Business Response

      Date: 03/29/2024

      Please see the attached response.

      Customer Answer

      Date: 03/29/2024

      [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

      Regards,

      *****************************

    • Initial Complaint

      Date:03/04/2024

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      They are charging an exorbitant interest rate. My payment on an $1100 loan is $700 a month which I cannot afford to pay. They should be put out of the business of providing loan ls because they are taking advantage of desperate low-income people like myself. Ridiculous!

      Business Response

      Date: 03/06/2024

      Please see the attached response.

    • Initial Complaint

      Date:02/18/2024

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      A loan was issued at an insanely high interest rate. The loan agent railroaded the loan forward not explaining the details of the 500%! interest rate which is illegal in the ****************.I would like the payments lowered if nothing else and hopefully the interest rate to state legal.

      Business Response

      Date: 02/22/2024

      Please see the attached response.

      Customer Answer

      Date: 02/22/2024

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

      [The fact a company can act outside of state and federal laws is appalling. I will reach out to arbitration.]

      Regards,

      ************************************

      Business Response

      Date: 02/28/2024

      Please see the attached Rebuttal response

    Makwa Finance is NOT a BBB Accredited Business.

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