LoanBuilder, A PayPal Service

LoanBuilder a Paypal business was a fairly easy… LoanBuilder by Paypal (honestly not sure of the Paypal affiliation) was a fairly easy program once we ironed out the interest rate charged, LoanBuilder came through with the cash and I came through with the payments THEN COVID hit!!! It was horrible and I was very worried about paying my debts BUT LoanBuilder jumped in an automatically suspended the weekly payments and I didn't even ask or have to reach out. VERY progressive for an institution to step up like that, I was very, very impressed! Beyond satisfied very happy with the end result

Thief... Very deceptive on their loans. Paperwork states that they charge "interest" NOT A FEE on the service. SO if you you pay it off early they charge you ALL the "interest" in the payoff and you NEVER get refunded any "interest" over paid. SCAM DO NOT EVER USE THIS COMPANY

This was a poor experience to say the least, I cant recommend them in any capacity. They cant even respond to emails.

I did my application but realized I put in the wrong bank account number. There is no way to go back to amend any section. Now I'm stuck! I have attempted to call the 1-800-347-5626 but it rings and then goes to a strange busy signal. Now I don't know what to do.

Loanbuilder always has problems in logging into their website, lots of system errors and hiccups. Also it's really crappy when it's never on the same page as keeping the documents that as uploaded. I applied for my PPP here and had to reset password, security question countless times in order to login. Their system will automatically wash off all your data and report: No viewable loan after the next day. Helpless and careless employees when you call. I only got two answers from them : "reset your passwords" and " I don't know, reapply!"

I applied for the PPP loan through PayPal/LoanBuilder. Their application portal wasn't user friendly at all. If you had finished a section, you couldn't go back to change anything if you had input something wrong. When I submitted my application, they wrote my application is under review and they will let me know if they need any additional information/documents. 48 hours later, I get an email that the they have denied my request because my application was lacking information they requested. And very conveniently, there is no number to call to see what was missing and on their site, they write their decision is final. Yet, they still ran my credit!!!!

My experience to date has been very disappointing and frustrating. I've had a loan application sitting in "underwriting" for nearly two-weeks with no response, no contact at all. I've emailed with no response and attempted to find a contact phone number with no luck. This is devastating to a small business such as ours because this loan is time sensitive and by the time they get around to approving it, the funds will be depleted. I put a lot of faith/trust in LoanBulder because of PayPal..., this not only reflects negatively upon LoanBuilder, but PayPal as well.

After receiving a loan of 50k and paying it back I decided to follow up with a second loan on another company I had launched using the same credit profile loan builder came back with a false credit reporting stating I had derogatory remarks on my credit and that I didn’t have enough income. This on the back end of a COVID-19 lockdown i feel that they made up false credit statements to turn away the loan. False promises and would not recommend them to anyone.

PayPal Loan Builder service is complete BS. They promise big loans and fast service and provide neither! I've run a successful small company for 17 years, with well over a million in sales annually for many years running ($1.4 million in 2019). Originally, PPLB said I qualified for up to $290,000 based on my sales (proven with bank statements). I applied for $50K, and was told I'd have an answer in just a couple days. I waited and waited and then, over a week later (allegedly waiting for underwriters!), they offered a loan of just $5K, less than 2% of the original $290,000! That's not even worth the ding on my credit report. It's nothing, peanuts! $5000 won't cover even one week's worth of expenses. What a waste of time! Half of America is shut down due to Covid19, and PayPal doesn't care a whit. If you need a loan for your small business, look anywhere but there. PayPal Loan Builder is a BS service. They may be able to help you, but they won't. Instead, they'll just insult you after wasting your precious time!

It was easy to qualify and receive funds. Paying on a weekly basis within a year for the amount I borrowed was not a good deal. The fees and interest were hire then others.

Process was quick and easy. Only wish is there were options for a little longer repayment for larger amounts. Maybe two year option for $50K or more.

Excellent. Very attentive representatives who helped put together a business loan for my firm.

Loan builder was an excellent company to help my own. They provided the loans i needed in a well amount of time and the employees were super nice.

This was absolutely the easiest and most efficient company to deal with getting a loan for my business they listened to my needs and made a custom plan for me no upfront fees low interest rate with weekly payments auto drafted from my business account - Will definitely use them again next time I need business funding

Quickest, easiest loan service I have ever used...

I like that it was fast and no surprises. I don't like that I cannot track my loan balance online.

Very quick and easy to work with. Good service. Thank you.

LoanBuilder helped me fund my business expansion when nobody else would... it worked out my annual revenue doubled immediately Thanks to LoanBuilder

Fast turn around Knowledgeable Ask a question & you get a answer

LoanBuilder is awesome its exactly as its advertising a fast and easy way to apply by clicking on to the site and putting in a little information about your company and you and receive a answer in minutes its just tht simple and the electronic withdrawal from your checking account to repay your loan back is as smooth as butter I like there service and would recommend them to anyone to aleast give them a try

LoanBuilder has been a great service for us! It provided the capital we needed to buy some critical raw materials during the holidays.

The overall ease of application and approval time absolutely is top rating.

It was pretty easy and I would highly recommend their service to anyone.

They are not real specially the guy name tnmi S they took all requirements and nobody responded all most 2 weeks they never pick our phone when we call 302 number to Tumi the fund specialists what they call waisted my time and mess the credit too so be carful

Excellent all around experience; beginning to end. Fantastic staff - my agent in particular was terrific. I would not hesitate to refer/recommend LoanBuilder to any small business. Thank you.

Very easy application quick fulfillment of borrowed funds. Clear and easy loan statement.

The funding was fine, on time. But this company sold my number for other lending companies to harass me ever since I applied. On top of that LoanBuilder left a UCC Lien Filing on my account even after my loan was paid off "in case I wanted another loan" and never notified me. The filing got in the way of the sale of my business!

Reply from LoanBuilder

Jan 24, 2020

Michael, Please contact us by phone so that we can assist - 1-800-347-5626. Jamie LoanBuilder, a PayPal Service

I have been very pleased with this company is was my first time ever doing anything like this they were very assuring as i was quite scared about doing this type of transaction thank you again I hope to be able to borrow money again in the near future!

Easy access to cash with competitive rates. Loan approval process was fast and efficient. Just wish they had more 'payback' options. Keep up the Good work :-)

I recieved a loan from loan builder in 2018, paid off in 2019. the placed a ucc filing on my business due to the amount of the loan which I completely understand. Although when the loan got paid off they never removed the filing and will not return any phone calls or emails. This has hurt me regarding getting other financial opportunities. I don't know that if they would give me a loan I would accept it due to no response.

Excellent company and rapid procedure to approve loan and very satisfied with their services. I would say best company in country.

Quick and easy to work with. Great communication as well

The people are very nice, turn around time is awesome. We've had four loans with loan builder and were very happy. Why the two star. The negatives far outweigh the positives. The loans are very short time 12 months. I understand they offer an 18 month, but your credit score must be 750 or better. During our last loan we borrowed around 51,000, our payment was 980.00 a WEEK. It was doable and we managed fine. After paying two thirds of the loan off, our balance was around 16,000 we asked to refinance the remaining balance and were refused without reason. This left such a bad taste in our mouths, we won't ever use this company again.

Reply from LoanBuilder

Dec 18, 2019

Paul, I'm sorry for your experience. If you would like information regarding your application or future loan availability, please contact us at 1-800-347-5626. Jamie

Easy as can be - transparent etc - Working well for us

Great to work with all the way around, and when I have an issue or a problem, due to incoming receivables (as we are a small business here at KCW, they are always willing to work with me). When no one else would give me a substantial loan (not even my own bank and we have revenues in excess of seven figures), they were there for me. I HIGHLY recommend them... all day long. They are top-notch professionals who sincerely want to help you and your business grow. Thank you, PayPayl LoanBuilder!!!!! Happy Holidays, Happy Hanukkah, and Merry Christmas! - Greg Kuzniewski, Founder and CEO, KCW Design Group, LLC

They were fast and very fair in their decision to assist my company with the funding I needed.

LoanBuilder has been easy, virtually seamless. The only concern or comment is it is very expensive compared to other business loans.

Loanbuilder was swift, friendly, and professional with my business loan.

I was able to secure a ioan with minimum of effortl

This was easy and fast and what I like most was everything was up front fees and intrest. So you know from the start what your getting into.

We needed a loan for our business so we called LoanBuilder to help us out. We received friendly, fast and accurate information regarding the loan process. Once we agreed to move forward with the actual loan process everything the loan advisor described to us would happen actually happened. We had the money in our account the very next day. We are extremely pleased with the experience we have had with LoanBuilder so far and will definitely be using them again in the future for our loan needs.

Help me a lot to take care my business with affordable payment’s. Thanks guys !!

Fast, easy and great rates. A great help when you have just landed a large project and need extra cash to get you through until you get paid.

Easy to use and friendly people to work with

Needed a simple process loan - the easiest loan I have ever gotten for my business! Amazing!

SUGGESTION: WEEKLY RECORD OF STATEMENTS MUST BE POSTED AND ACCESSED; WAS ONLY PROVIDED AN UPDATE AFTER PAYING 25% OF THE LOAN; ALSO, YOU MUST PROVIDE THE TRUE INTEREST RATE OF THE LOAN AND ALLOW CLIENTS TO PAY EARLY BASED ON THE PRINCIPAL. THE WEEKLY PAYMENT SCHEDULE WAS DIFFICULT FOR ME... THE MONTHLY PAYMENT SCHEDULE IS BETTER.

Thank you guys for all help , easy transition at right moment

Love this loan and the ease of using it the set up and execution

Good company. Be sure to have all of your banking information up to date. They are diligent and will look to see if you are a good fit for them and your business. Great way to help your business credit.

The process was so simple. Thank you for helping our business.