Is LoanMax licensed to operate?

Yes, LoanMax holds licenses in multiple states.

• New Mexico: License Number 1791 issued by the New Mexico Financial Institutions Division (expires June 30, 2024) 
• Alabama: Registered as a Domestic Limited Liability Company (Registration Number 676-696) 
• Other States: Licensed in Idaho, Virginia, Delaware, and others 

Regardless of Licenses, You Must Know Your Rights:

Licensing does NOT mean a lender is your friend. Here is what you must demand:

1. The Right to a Written Contract: Read every word. If you cannot understand the interest calculation, do not sign.
2. The Right to Prepayment: In many states, you can pay off your loan early without penalty. Confirm this before signing.
3. The Right to Cure (Reclaim Your Car): If you default, many states give you a "right to cure" period where you can pay what you owe and get your car back before repossession is finalized. Know your state's law.
4. The Right to Sue for Illegal Repossession: If LoanMax takes your car illegally (e.g., breaking into a locked garage or using threats), you have legal recourse.

Do not trust the license. Trust your understanding of the contract.