LSQ Funding Group Reviews (%countItem)
LSQ Funding Group Rating
Address: 315 E Robinson St STE 200, Orlando, Florida, United States, 32801-1912
Phone: |
Show more...
|
Web: |
|
E-mails: |
Sign in to see
|
Add contact information for LSQ Funding Group
Add new contacts
Before I get the basic song and dance of customer privacy and call us. We've called and emailed numerous times already.
Starting out LSQ was good to deal with. Over the last 12-15 months not so much. They will purchase invoices, fund minimal amounts of those invoices and all of a sudden something is ineligible. A customer paying an invoice is late on payment so that locks down the funding to us even though LSQ purchased the invoice. All LSQ has done at that point has blocked us from using a backup funding source for those invoices.
Recently LSQ allowed one of our customers to issue themselves a credit. Yes, you read that correctly. No credit was given from us to the customer nor was there a credit authorized. LSQ was immediately notified of this via email as well as phone. I have a paper trail for everything I do. I dont claim what I don't have proof of.
We were informed that LSQ doesnt act as a collection agency so if the customer goes past their allowed time to pay, it bounces back to LSQs client to pay the amount back to LSQ. On their website: "We chase down and collect overdue payments
We track your overdue invoices and take care of all your collections--for free--so you don't have to sweat it."
Apparently not. Anyway, the fraudulent credit LSQ posted to our account did a few things. 1. It wiped out all reserves due to us
2. It gave the customer a paid in full status for all invoices
3. It gave us a negative balance in our reserves and LSQ is saying that has to be paid to bring the account to a zero balance.
I dont normally do reviews but I've grown tired of the same dodging. Again, paper trails are a wonderful thing.
We regret that the reviewer's expectations were not met by our product offering. And because we do respect the privacy of all of our clients, we will not attempt to address the specific circumstances noted here. We nevertheless appreciate feedback from our clients, and respect the point of view expressed. We also feel it's important to provide a brief response. As stated by the reviewer, they have called and emailed us about their account. And we are confident that each time our account representatives responded promptly and provided the necessary relevant information about the account. It is important to note also that all of our clients have full visibility into the status of all key aspects of their account relationship through our client portal. Additionally, LSQ consistently follows the practices outlined on our web site and in our client agreement regarding contacting customers. We are fully committed to helping ensure that our clients are supported in their effort to understand accurately and well how our product works, and we will continue to make every effort to understand and to respond the needs of our clients.
I read these reviews, and I noticed the one left by Marcy in 2017. I had a very similar experience, starting with them in late 2014, and finally giving up on them in early 2016. They went out of their way to be uncooperative and difficult. We have since moved on to ***, which provides excellent customer service, and is a helpful business partner.
Out of respect for the privacy of our client relationships, our practice is that we do not address publicly-shared feedback. We nevertheless take very seriously our responsibilities as a leader among providers of working capital to small and medium-sized businesses across the country. With that in mind, we respect the input shared by current and former clients, and commit to using it as the basis for continually improving the ways we deliver support.
We have been working with LSQ for the past few years and the experience has been exceptional. Their customer service is admirable, and their willingness to support small businesses in need of cash flow surpasses any other financial institution we've worked with in the past.
A lot of our vendors are on net terms and LSQ really helped improve our cash flow. Their service is outstanding and their client website is the best I've ever used.