MB Processing Payday Loan Reviews

MB Processing Payday Loan ReviewsMB Processing has gotten its fair share of attention because it has all of the markings of a lender that you’d want to do business with, at least at first glance. They have an eye-catching, user friendly website and provide some information about the loan, including a fee schedule. But are they a good choice to borrow from?

Our initial findings are that we’d take a pass and go with a different lender. Even though the requirements are very similar to other payday lenders, the fact remains that there are some gaping holes in the execution. The major problem we can’t get past is that their application is not securely hosted.

Other problems that might make for a deal breaker is that they only allow $300 to be borrowed the first time, and only go up to $500 as a maximum. These are fairly low amounts, and you might be able to get higher amounts from a different lender, or even from a local payday lender.

About MB Processing Payday Loan Reviews Found Online

MB Processing is the payday loan branch of MB Marketing, so don’t be confused if you see the two used interchangeably online. Even though you will be doing business at their MB Processing site, the parent company is MB Marketing.

Limits for First Time Borrowers
They have it set up so that on your first loan you can only loan $300 with them. For many borrowers this is not going to be enough money to cover their financial crisis, but we understand why they have this in place. It’s actually good that they set a cap on the first loan so that you don’t borrow too much, and fall into the payday loan trap. This isn’t cause enough to go elsewhere, unless you need more than $300 right this minute.

On your subsequent loans they’ll bump your limit up by $100 each time until you get to $500. That’s as much as you can borrow according to their answers page, but on their fee schedule they show amounts as high as $800.

One feature that is interesting is that if you don’t feel like repaying your loan on your payday you simply do nothing and they will process an automatic extension on your loan. They will do this up to three time before requiring you to at least pay down your loan a bit. This is different than many lenders that will require the entire amount on your next payday, no exceptions.

Unencrypted Application
The Achilles’ heel of their service is the lack of SSL encryption on their application page. You’re expected to enter in your data as if it has no value, but there actually is plenty of value to your personal and banking account information, and it should be kept secure and confidential at all times. It’s shocking that a company wouldn’t spend the little extra to host their application page on a secure server.

In their frequently asked questions they state that they are indeed using an SSL connection. But a simple look at the browser screen does not reveal an https, but rather a basic http. If you look further into the site data, it is confirmed that the connection is not secure.

F at the BBB
MB Marketing, the company behind MB Processing has earned an F from the Better Business Bureau, which doesn’t necessarily mean that they are a company you don’t want to do business with, but apparently there have been enough complaints and enough reason to warrant the lowest possible grade. There are payday lenders that actually earn an A+ rating, so it doesn’t make sense to go with one that can’t resolve complaints adequately enough to have them not effect their rating.

Our Recommendation
If they could fix it so that you could submit a secure application, we’d be able to give our nod of approval to them, but until they fix this major glitch they’re getting the no-go. There are simply far too many lenders out there that have their application pages hosted securely and that peace of mind is worth it. We’re willing to overlook the BBB rating if they’d show other signs that they’re serious about lending people money.

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