El pago diario no ayuda a tener un buen flujo en la cuenta de banco
This has been a pretty bad experience so far. Let me preface this review by saying my credit took a bad hit after a business partner screwed me a little while ago and Ive been trying to rebuild. I also have a new company. So with that I understand I wasn’t going to get a good deal on a loan. My whole goal for getting a loan through Lendio was to build a relationship with a lender for my business for future growth. I accepted the $2,500 fee for a $5,000 loan because - even though that is the most ridiculous fee Ive ever heard of in my life - I knew it was all I was the best I was going to get, I was in a tight spot, and again I wanted to build a relationship with Lendio. So far I have been lied to, charged more fees I shouldnt have been charged, received no real support when I really needed it, and haven’t been able to get in touch with my account specialist, Evan. Here are more details, 1. I was promised by the forward financing agent that I would have a payback amount of $7,500 for the $5,000 loan. She then told me I would have a $495 processing fee. I asked her if that fee was included in the $7,500 payback or if that is an additional fee to the $2,500. She told me it was included. That was the ONLY, I repeat, the ONLY reason I agreed to continue. Then when I logged into my account after it was all setup I see it was actually additional. That call was recorded and you can hear that conversation. So far I haven’t been able to reach Evan about this issue either. He did call me back but I wasn’t able to pick up and I haven’t been able to reach him since then. 2. I just got a notification today that a payment didn’t go through and I am being charged a $35 fee. I can see on my bank account that the payment in question posted to my account, its not just pending, it actually went through. 3. I called in the other day because my client told me they were dropping me. At the time they said they were dropping me completely which would have been a $3,800/month loss. I asked to pause payments until the 20th when I would be paid by other clients. The rep only paused payments for a few days…which doesnt help. Now thankfully that client isn’t dropping us completely but I still need to change up my payment plan and when I signed up with Forward Financing I was promised that if anything changes we could rework the payments to fit what I need. Thats what I need to do and so far that promise hasn’t happened. Overall I am very unhappy and unless things change I will never use Forward Financing or honestly even Lendio ever again for financing needs. If things change then maybe I will change my mind but right now its looking pretty bad.
I am happy with the services we have received till now. Fast and easy.. Would definitely recommend ✔
Maybe I was not paying close enough attention but I really don’t like having my account withdrawn daily.
I am very thankful for the financing and how quick the process was to get a line of credit. I am hoping when I become eligible for a review that I will be able to get better interest rates and different terms. That is my fault because of credit score however I look forward to doing business again with Forward financing Sincerely Jay Gilchrist
Lendio will set you up with “with a predatory lender that overcharge business owners by making daily payments which is withdraw directly from your account” I was very unhappy and paid my loan 3 weeks after I received the funds in full including the expensive fee US3500 for a US7000 loan + their processing fee of US215.00; the company Forward Financing still trying to withdraw money from our account !! I will think twice before signing on a loan ! They claim no Hard Credit Pull on your credit ! Not the case now my credit is low away! They promised they will report my full payment to the bureaus so my credit will go up !! Not the case either !! Instead of helping the company when you need cash flow the created a bigger problem for us.