World Capital Management

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory for what they offered. I did accept the gift cards so technically the matter has been resolved. They did rip me off of over $500 dollars still, but there is nothing I can do! I also believe that the way they do business of only offering a settlement when you ask for one with a 48 hour period hard deadline is bad business practice.
Sincerely,
[redacted]

Thank you for giving OnDeck the opportunity to respond to [redacted] request to review the Pre-Payment interest
reduction he received on his business loan with OnDeck.  We regret
any confusion [redacted] may have experienced, and have completed our review of
the case.OnDeck reviewed all of...

the
correspondence between OnDeck and [redacted] or the authorized users on
his account.  During this review OnDeck found no instance where [redacted]
was provided the wrong information concerning the OnDeck Pre-Payment policy.  Furthermore, OnDeck provided [redacted] on
2 different occasions a Payoff Letter outlining the amount due to pay off his
loan. The OnDeck Payoff Letter includes information that specifically outlines
the Pre-Payment interest reduction of 25%.OnDeck is committed to providing the best
possible experience for our customers.  Our team is available for
assistance if [redacted] has any further request.Sincerely,Eric L[redacted]

Thank you for giving OnDeck the opportunity to respond to [redacted]’s comments about receiving marketing materials from OnDeck.   After researching the issue, OnDeck recognized that [redacted]’s original request had a slightly different address than what was used in the most recent mailing....

Due to the addresses not matching, the new mailing was not removed from our distribution.  I can confirm that we have now included both addresses into our Do Not Mail database.  As mentioned to [redacted] earlier, our marketing materials are often sent out weeks in advance, and there is the possibility that [redacted] may receive one or two more pieces of marketing from OnDeck. But, we now currently list in our system two addresses for [redacted] that are included in our Do Not Mail list.  Thank you very much for letting us know about [redacted]’s concerns.  Our Customer Support team is available for [redacted] if he has any other questions.  Sincerely, Eric L[redacted] Director of Customer Service - OnDeck

Dear [redacted]:This is in reference to a rebuttal from complaint #[redacted] from [redacted]. Thank you for giving us the opportunity to respond.I can confirm that we have removed [redacted] from our database, removed his address from our mailing list, and added his phone number to our “Do Not Call” list.  We hope that we have accommodated [redacted]’s wishes to be completely removed from receiving any marketing materials from OnDeck.Sincerely,[redacted]Director of Customer Service

Thank you for giving OnDeck the opportunity to respond to [redacted] request to review the terms for his loan, and his request for a lower interest rate on his OnDeck Business Loan.  We regret any confusion [redacted] may have experienced, and have completed our review of the case. OnDeck...

reviewed all of the communications between OnDeck and [redacted]. During this review OnDeck found no instance where [redacted] was provided the wrong information concerning the OnDeck loan or the OnDeck renewal policy.  Furthermore, in order to resolve this matter, OnDeck provided [redacted] a substantial discount on his original loan, as well offered a substantial further reduction on his interest rate if he were interested in renewing his current OnDeck loan.  These accommodations and reductions were based on numerous communications with [redacted] and our OnDeck Sales team.  [redacted] appears to not accept or agree to these multiple accommodations.  OnDeck is committed to providing the best possible lending experience to all our merchants  In this instance, unfortunately, it appears that we will not be able to meet the requirements that [redacted] is requesting.  [redacted] may contact our Customer Service team at ###-###-#### for any further questions.  Sincerely, Eric L[redacted] OnDeck – Director of Customer Service

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

I was told by ONDECK that I would be contacted to make arrangements at a temporary lesser amount and that I would be contacted by them to set that up.  They received all the information they requested and I was contacted by ALLTRAN whom stated they were calling to set up arrangements on the ONDECK account.  
 
 
 
 
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

I was lucky to find [redacted], a company that specializes in helping businesses refinance their On Deck loans.  If I hadn't used this company (which still charges quite a bit of interest but FAR less than On Deck) I would have certainly gone into default and had to declare bankruptcy.  The loan was opened 4 months ago and it was for $105K.  The repayment amount was 137K.  You do the math.  4 months.   $32K of interest.    
 
 
 
 
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
[redacted]

Thank you for giving OnDeck the opportunity to respond to [redacted] and his question concerning OnDeck’s policy around credit inquiries. Our records indicate that [redacted]' application was submitted via a 3rd party loan broker. For all loan requests from Canada, a “hard pull” is a required...

part of the process. I’m sorry if [redacted] was not aware of this, as the credit policy is noted in the OnDeck application agreement provided when submitting a loan application. You may request a copy of this document with your loan broker or by contacting OnDeck Customer Service. Thank you very much for letting us know about [redacted] concerns, if he has any further questions OnDeck Customer Service is available at ###-###-#### option 3, or [redacted].   Sincerely, Eric L[redacted] Dr. Of Customer Service

Thank you for giving OnDeck the opportunity to respond to [redacted] request that he stop receiving any further OnDeck solicitations or marketing materials. While a review of our records does not indicate that we previously received a request to cease mailings or phone calls to this...

business, I can confirm that OnDeck has removed [redacted] address from all future marketing communications. Because OnDeck marketing materials are often sent out weeks in advance, [redacted] may receive one more piece of marketing from OnDeck in March. Please know that this is the last piece he should receive and that we have removed [redacted] from our marketing list.  OnDeck can also confirm that we have removed the business phone number from our phone system, and have added [redacted] to our Do Not Call list.Thank you very much for letting us know about [redacted] concerns, as we wish to accommodate his request. Sincerely, Eric L[redacted] OnDeck – Director of Customer Service

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

My point exactly. On Deck keeps repeating the same talking points. And if Revdex.com is going to continue an A+ rating with the bureau then the complaints must be resolved to the customers satisfaction . Andrew can get upset all he wants, but if its not for loyal customers like us and countless others that never complain where would that leave competition and the customer? My business does not have declining sales we've had our best year ever and as much as he wants to be discrete this "professional" is being quite the opposite. Ondeck should reevaluate if this is the person they want rudely responding to good paying customers in this manner. Be well.   
 
 
 
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
[redacted]

Thank you for giving OnDeck the opportunity to review [redacted]’s comments. OnDeck reviews all feedback, both positive and negative, for training opportunities and product improvements.[redacted] is currently on her second loan with OnDeck, and based on recent conversations with [redacted] she is in...

the process of completing her loan terms with OnDeck and closing the account. OnDeck wishes [redacted] success with her business. The OnDeck Customer Service team is available for any assistance if [redacted] has any further requests.   Sincerely, Eric L[redacted] OnDeck – Director of Customer Service

Dear [redacted], Thank you for giving OnDeck the opportunity to respond to [redacted] concerning her recent payment issue. Upon receiving this complaint, we reviewed this complaint and our corresponding records about the situation. On December **, 2016, OnDeck reached out to [redacted]’s in regards...

to her owed balance on her term loan.  OnDeck has provided [redacted] with the details around her questions and concerns.  In our correspondence with [redacted] OnDeck has provided both a resolution with the supporting documents to help her understand our payment processing and a timeline of any and all applicable refunds. Ondeck recognizes the confusion the [redacted] experienced, and based on [redacted]’s feedback we have updated the language in our communications.   We believe that we have addressed all of [redacted] concerns.  If there is anything else that is needed, we are happy to discuss with [redacted].   Sincerely, Eric L[redacted] Director of Customer Service – OnDeck

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

I think the options given by the business are not acceptable and are not favorable to me, the consumer. I am summarizing the issues once again for your kind review:1. I took a loan of 40,000$ in 2014.  Ondeck  added a interest (or fee) of $7,600 immediately. So the loan due became 47600 on second day of funding the loan. After 6 months they have collected ~$5100 interest which is almost equivalent to 25% interest. This information was never made clear to me. So, the interest they are mentioning in the contract which is 19% is not accurate. The fair thing to do is that, I need to be refunded the difference. .2. The second issue I have is with the renewal. Either their employees or their representatives have promised me verbally over the phone, 9% of interest by renewal time for the remaining $3,600. If I made my payments on time, I was also promised more loan amount. Unfortunately, I do not have any proof of this conversation. Ondeck seem to have recorded all the conversations but they never presented me with the conversations. However, the reality is as follows:a) My business is doing really well compared to the time when I took the loan. Apples to Apples, I am eligible for more loan amount.b) I did get an offer for double the loan amount but unfortunately the interest rate remained at 19% and similar terms. (More interest upfront)c) I got another offer for same loan amount but the interest rate is 11% (after multiple unprofessional negotiations)d) I offered to payoff the loan for the remaining principal balance but this was not acceptable to Ondeck, because they want to milk more from a hardworking small businessThe fair thing to do is either allow me to pay off the remaining principal without any more exhorbitant interest or offer me higher loan with 9% interest.Following are the names of the employees and their representatives who worked with me.Taylor Buske - renewal specialist, Ondeck Keith Cashman, Ondeck  Not sure when he came in but he was involvedBlake Eddington - probabaly was new loan specialist, OndeckSara Beekman - Snapcap, who I think was the first person to contact me
 
Please note: I am willing to work with Ondeck for a reasonable offer. 
 
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
[redacted]

Thank you for contacting OnDeck. If [redacted] is currently experiencing difficulties with activating her MB Gift Card, she is more than welcome to reach out to their Gift Card Services at ###-###-#### or by visiting [redacted]. If [redacted] has any questions in regards to her closed account, she can call Customer Service at ###-###-#### option 3.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

[Your Answer Here]
 I still reject the response on its merits as being a bad business practice, and I still contend that OnDeck allowed someone unqualified to make a decision about my loan request in a matter of 35 seconds. I am an accomplished credit industry professional with almost 2 decades of decades of experience, so I am a pretty good judge of credit matters. And, I did not get a chance to discuss the fact that my credit score is low due to my battle with cancer.  So, sometimes I had to had to the decision between paying for lifesaving medicines and chemotherapy versus a Capital One credit card and a Macy's Store card in 2009.  To top it off, this unqualified "loan specialist" disconnected the phone call while I was in mid-sentence. Once again, another bad business practice and training issue. This "loan specialist" does not need to be underwriting any loans of any sort.  A loan on a lawn tractor would too complicated for this brainless automaton. And I want everyone to see the unfair lending practices of OnDeck.  So, I hope the Revdex.com posts my complaint on their website in perpetuity.
 
 
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
[redacted]