Lendio

One of the worst, applied for the PPP but i told them i wanted to wait before moving forward because there was going to be an option where you can choose line 7 instead of line 31 in your schedule C. We waited and as soon as it was passed, i called them and they had me send documents and had me choose line 7 and so forth. Then i ended up not getting the line 7 but was offer line 31 and lendio had no idea what happened and said i did everything right and they have no idea what happened, after that they just ignored my phone calls and emails, even when i called corporate, they dont care. They tell you they will let their supervisor know and will contact you soon but they never do. They screwed me over and they ignore you after that, not just the agents but the corporate themselves, they dont care if you’re business and employees are suffering, they make a mistake and they ignore you after that, they dont try to fix it or compensate. Everyone told me to go to this other person and i should of listen but i didnt and went with lendio. So everyone else please listen to me and avoid lendio before you get screwed over like i did. No matter who i talked to they always ask what my business is, which is a nail salon and end up ignoring me, i wonder why.

On 2/17 my business submitted an application for the 2nd round of PPP. The representative emailed and wrote to make sure everything was up to date. Then two weeks later she calls and ask for 2019 tax information. I had to remind her that my business started in early January 2020. She apologize and updated the invalid date. Then she requested the 2020 941/940's which I had already uploaded to the portal. On March 1, 2021 our application was switch to another representative and he asked for the same information that I have already uploaded to the Lendio portal. Now I am being told my business has already been assigned a loan number but, no one has provided sed loan number and we have check the CAWEB portal still no new loan number. I have called countless of times and now I'm frustrated. All I want to do is be a business owner and provided for my clients as well as family. The reason for the 1 star is because it has been a month and we have not received any update just emails requesting documentation that I have uploaded to the portal. Now I'm stuck because every time I try to apply for another lender I am being denied because it states my business has been assigned a loan number which no one thought to provide to us. Lendio has been a disappointment for a lot of self employed/business owners. Reddit has a lot of angry people stating the same or worse about Lendio.

I started this process with the 2nd PPP and it is has been hell with this company. You can not speak to anyone and they do not respond to emails. I appears they did good doing the first PPP but this 2nd round they are lost. I would not recommend this company for any kind of loan. I started this back on 02/19/2021 I have been in the lending status for 2 and half weeks and every week they change funding managers on you I have had 3 doing this time. I have requested to withdraw my application and can not get a response. On there site there is a link that allow you to withdraw your application but it goes no where it ask you to call 855-xxx-xxxx and when you call it tells you that they are too busy to answer the call to try and email someone. So I requested by email and still no answer from anyone. DO NOT WASTE YOU TIME with LENDIO. Poor, Poor, Poor choice.

The PPP Process started out good and lendio was responsive however it has now been weeks since I've heard back on the status of my PPP loan, I received an SBA loan number and was in final review on Feb 12, but since than have been given three different funding managers all who have not responded to emails or voicemails. One online service tech a week ago said I should receive my final esign documents and a week later still nothing. Its concerning as I continue to see similar reviews posted on the same issue here daily....

PPP LOAN SCAM ALERT... I applied for a PPP Loan with Lendio on April 8th. On Friday April 10th I received a phone call from Alex R and was told they needed two additional documents to complete my application. One our later I uploaded both of those documents and then sent a follow-up email to Alex to tell him I had done so and to please confirm that was all that was needed. Monday the 13th I had not heard a single response back. So I sent a second email and left numerous messages on both Alex's voicemail and Lendio. Next day I get an eamil.... Good News your loan is ready to be submitted but we need more info and it proceeded to list the info it needed. Everything in the list was asked during my original loan submission and Alex had confirmed on the 10th they had. So back to the site I go and resubmit. I then proceed to email Alex again with no response and ...Finally after I stated I was going to file a BBB and States Attorney Complaint I get a call back from Alex. I have him verbally verify that yes they have EVERYTHING the need from me on my end for the application. I then ask him if my application will now be submitted to the 300+ SBA lenders they said my app would be submitted to. He states no it won't my application is still in line in the same place. I ask him again when will it be submitted. He states once a lender becomes available it will be submitted. I ask him to clarify what do you mean once one becomes available. Your adverting on your website at the time I originally submitted stated... "Fill out 1 simple application. There’s no fee or obligation, and it won’t impact your credit." "Explore small business loan options from 300+ lenders. We’ll help you choose the best one."... - This now states as of today 75+ "Get the capital you need in as little as 24 hours so you can get back to running your business." "Multiple lenders. One application. Our streamlined application process and proprietary algorithm match you with loan options from a nationwide network of esteemed lenders. We’ve helped small business owners like you get over $1.4 billion in loans. Which means we must be doing something right." Yes $1.4 in loans to all the BIG small business. They are taking all the high dollar loans and getting them funded to collect there commission why'll the TRUE SMALL business like ours is left in a database somewhere on a server. These are all lies and deceptive marketing. This is criminal at a time small business needs these loans to keep there business from going under. The only part that was accurate was... "Fill out 1 simple application" and that is not even accurate when you take into account I had to submit it now 3 times... According to Alex they don't have 300+ nor even the 75+ they now marketing to small businesses. They have ZERO.... I am told once a lender becomes available they will submit my application. As of today I have ZERO information as to what is going on with my application. When I pressed ALEX for answers he HUNG UP THE PHONE ON ME TODAY. This company is praying on small business in the time of need with false claims and marketing. They started with 300 lenders and an email they send out states they add 10 new ones per day to the list. As of today the site now states 75+... This is an email I received shortly after my application was submitted... "Good news! SBA-licensed lenders are now funding! We have definitely seen the pace of loan processing increase over the last 24 hours. We have over 300 lenders participating in the PPP program and adding about 10 new lenders per day. Until now, most lenders have been working through the logistics to actually fund their first PPP loan. As the kinks continue to be worked out, speed will dramatically increase. " That was from an email dated April 9th 2020... Today April 14th there site now states 75+...I guess there scam is starting to catch up to them. How do you go from 300 and adding 10 a day to only 75 in less than a week.And according to ALEX today on the phone they have ZERO to submit my loan to as of today. I guess they realized the fake, false, illegal bait and switch advertising was going to bring criminal charges and lawsuits. This company is the worst of the worst praying on small business at this time of desperate need. They need to be investigated for criminal intention to defraud small business. I have demanded a call from Management and can not get one. I have been hung-up by my loan representative. This company is continuing to pray on small business and needs to be investigated and shut down.

The Lendio representative that I worked with was amazing. His name is Cody S. Easily the most helpful loan rep I have ever worked with in my entire life. Lendio all the way!

Jeremiah was amazing. So east to work with and an incredible amount of honesty & Integrity. Followed up but wasn't pushy. Would give 10 stars if I could.

I literally met every qualification they asked for and yet they still found a reason not to. I don't have the amount of deposits/transactions going in and out of my business account. They wanted direct access (passwords too) to my accounts. The type of business I do doesn't require multiple deposits yet they still wasted my time. Someone on Facebook asked a question if they helped the same type of business I do. They deleted my comment then blocked me from answering. Sounds like to me they don't want transparency. They should answer the questions truthfully instead of wasting people's time. Suddenly, I can't get a hold of them by phone either. Hmmmm.....

I rate 5 for your service but only 3 because of your partners you choose. I could have done that part myself, LenCred just applied on my behalf for bunch of credit cards and I paid them 8% of the approval. In many of the application they did not use correct SSN, otherwise I could have receive more approvals.