Lendio, Inc.

Complaint: ***
I am rejecting this response because:Please shut up with the " you communicated with both of us" - you know that is a lieMy husband will testify in court you spoke to him once through the entire processONCEIn fact, all proceedings were dealt with through myself, sent to my cell phone, my email, the business is in MY name (YOU SAID "let's use ***s credit, it's a couple more points higher than yours") You never suggested paying off the kabbage loan with my 401kWhat *** said was "keep paying it, when you're done the interest rate will drop and they'll up the credit line and we can use that to cover whatever the lender doesn't".Also please stop with the "not as fast as you liked" you told me in MAY YOU HAD APPROVALS as indicated by the emails attached to this file when the truth is you never set an application anywhere until pressured in JULYYou claimed it takes months for the credit bureaus to update credit scoresAgain a lie! You asked me to find out how long and they all said less than a week after the payment was madeMy husband's credit score before you touched anything was a *** and mine ***Not exactly bad by any means - and only due to utilization not payment historyYOU said take the kabbage loan to open a trade line of credit for close n countersI have proof I was about to dissolve that business before contacting youAnd the only reason it was brought into play was because you were suggesting I pay extra to open a new llc when I already had oneKeep lying, ill get extra for slander when im done. The truth in lending act requires disclosure of the terms of extended credit- not "it varies and you'll find out later and you can't refuse the offer after its extended lest be charged hundreds of dollars"And do you want to touch on how you were banking on ILLEGALLY taking a loan in the sellers name???? Even though you were repeatedly told he wasn't going toYou had to call him and tell him that you were pulling his credit to make sure there were no leinsU have that in writing and he'll also testify.By all means, keep putting your lies in public recordYou're only helping my court case.
Sincerely,
*** ***

We are sorry we were unable to make this experience something incredible for you. We apologize for the misinformation and understand your frustrations. However, like we have in the past for you, we were able to provide you additional products that you did not want to take advantage of
this time, which is your choice. Should you change your mind we would be happy to work with you to get you the best possible funding with our lenders. We are a marketplace, so we are unable to dictate what those loan products will be. In response to your credit inquiries, Lendio only does soft credit pulls, which will not affect your credit, however some of our lenders will do a hard credit pull. Prior to your application, you had several hard credit inquiries that affected your credit score. We will continue to do as much as we possibly can for you. Please feel free to reach out to our Customer Experience Manager at 801-838-for further resolution. Our hope is that we can find a product that will satisfy your funding needs, however if we are unable to provide you with a sufficient product, we appreciate your time and apologize once again

We apologize for the negative experience you have had with Lendio Unfortunately, due to various reasons, we were unable to find a financing partner that is able to provide your requested funds Our financing partners have various criteria and we are unable to change those criteria

Complaint: [redacted]
I am rejecting this response because: They have not been in response with me in the manner in which they have stated and I have selected to move forward with another company based off my bad experience with this company. I no longer need there services.
Sincerely,
[redacted]

Ms. [redacted]: Our records indicate that the application provided to Lendio was filed in your husband’s name. While we communicated with both of you, the name that was signed to the loan is that of your husband. As per several discussions between yourself, your husband, and our Lendio team member, a plan was laid out on improving your credit score in order to qualify for a larger loan for the purchase of a new business. During this time the first mention of access to a 401k is made on July 19, 2017. On that day our funding manager spoke with your husband earlier in the day and then again when both of you were present. That call was recorded and is on file. We understand that the slower timeline was not optimal, but we have tried to remedy that situation. However, our team worked hard to get you approved for the desired amount. We provided you with several options and once we became aware of the 401k, we offered suggestions on how to utilize that account to pay for the loan from Kabbage. Our best recommendation is to pay off the loan, that you took, immediately to avoid any further interest charges.  If you do not need the funds, simply return them to avoid any further charges from the Lender. In regards to the payment required for applying with our partner for Business Credit, we explained the Credit Card program and we indicated the likely range of rates should you desire to move forward.  We apologize that you did not like the program as presented. You and your husband decided not to move forward with this program and there has been absolutely zero costs associated with this program as you decided not to proceed. Throughout our time working with you, our records indicate that there was communication, all be it, not as fast as you preferred. Although, waiting on approval can be stressful, and we at Lendio, Inc., understand this, there were factors out of our control which we explained you both via text, email, and phone calls. The team member assigned to you apologized for not being as responsive as you wished and worked to keep the relationship open in order to continue helping with the successful growth of your business. We understand that this process has been frustrating and have tried to work with you to address the concerns that you have voiced. We have spoken with the team members and have provided additional training to ensure that this does not happen in the future. Sincerely, Lendio, Inc.

Our goal is to have each borrower be 100% satisfied with their funding experience. While we were able to find a lender who provided your business funding, we apologize that we failed to meet your expectations and that the process did not happen as quickly as you wanted for your business purchase....

Obtaining substantial funding to purchase a business takes considerable time. In listening to the calls you had with our agent he did explain the substantial timeline to funding; however, we could have done a better job of being absolutely clear in setting expectations.  Our rep has been in regular communication over the last several weeks and if you are willing to work with us we still have a plan of action to help you reach your goals. If acceptable, please reach back out to us as we are here to help.

Complaint: [redacted]
I am rejecting this response because:
Sincerely,
[redacted]

Mr....

[redacted], Again, we apologize for your negative experience.  Our records show that you signed up on our site on July 13, 2017.  During the sign-up process, you agreed to various terms, including authorization and consent regarding credit checks.  These terms and authorizations were presented to you and can be found as follows:Terms of Use: https://www.lendio.com/agreements/terms-of-use/Privacy Policy: https://www.lendio.com/agreements/privacy-policy/Credit Gathering Authorization: https://www.lendio.com/agreements/credit-gathering-authTerms of Application: https://www.lendio.com/agreements/terms-of-application/Trusted Partner List: https://www.lendio.com/agreements/partner-list/Furthermore, as was explained on the site and through Lendio representatives, all commercial funding is subject to final approval by the financial institution providing the funding.  As a result of the information in your file which you provided to Lendio and which was contained on your credit profile, none of the financial institutions were able to approve you for the funding you requested.  As a result of the denial from the financial institutions and due to your complaints made against Lendio, Lendio exercised its right to close your Lendio file.  We apologize that we cannot help you with further growth of your small business, and wish you all the success in the future. Thank you, Lendio, Inc.

We have been in regular contact with the borrower since she initially submitted information to Lendio on April 4th.  We apologize that Ms. [redacted] feels there was a communications issue with Lendio; however, Lendio has been in regular correspondence with Ms. [redacted] since her initial outreach to...

our firm on April 4th.  Lendio could not send a completed file from [redacted] from April 4th through the 27th due to the fact we did not have a completed and signed application on file.  Lendio asks that this complaint be removed as we have documentation showing a pattern of regular communication and we were waiting on Ms. [redacted] to provide a signed application when she indicated that the problem occurred on April 12th.  In fact, we contacted her on the very day that this complaint was initiated.  Lendio finally received the borrowers actual completed application with signatures and completed financials on April 27th after multiple attempts through our automated system and through our representative. Upon receipt of the application we submitted her documentation to our lender network.   We can supply system notes (and or call recordings) from conversations including emails, texts, and calls from the 4th, 7th, 12th, 20th, 25th, and 28th of April.  Lendio has been in regular and consistent contact with Ms. [redacted].This is a non-marketplace issue as Lendio has not been paid any funds for our services and the details of this complaint are not correct.  We are still working with Ms [redacted]'s organization currently trying to solidify capital for her business.

Complaint: [redacted]
I am rejecting this response because: Lendio continues to evade and ignore the root issue of the complaint:  they did not properly disclose their terms, their lending officer(s) miscommunicated the process and progress of the application, and Lendio did not inform me at any time (and has yet to inform me properly) of the responses, approvals/denials, et al of those corresponding lender(s) in accordance with the Truth In Lending Act.This complain remains unresolved and unaddressed by the company.
Sincerely,
[redacted]