There is no separate fee to apply for a loan, open a Maior account, or get approved. Fees only apply when you withdraw funds from your term loan.

Maior charges a draw fee when originating your loan. This fee is applied to each loan that is originated.

No, there are no prepayment penalty fees.

If you are late on a monthly payment, a late fee of 5% of the amount due can be applied.

Your available funds are the difference between your qualified limit and your outstanding loan balance. Drawing a loan will decrease your available limit. Conversely, when the principal of a loan is paid back to Maior, the amount available for another loan increases.