ComplaintsforLendio, Inc.

• Initial Complaint

  05/10/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Constantly called and won't remove from call list and ran social and did a hard pull instaed of soft

  

  Business response

  05/16/2024

  Hello ******,
  Thank you for your feedback. We are so sorry to hear of your experience. This is not what we want for our customers. We have added you to our Do Not Contact list so that you will not receive any further correspondence from us. Again, we apologize for your negative experience and wish you and your business all the best.

• Initial Complaint

  05/02/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Do NOT, and I repeat, do NOT put your trust in Lendio. They say they have found a lender, you give them all your information, they NEED access to your bank accounts (for verification, they say), and then when you've signed all your documents......... crickets I've called for two weeks trying to get a hold of ***********************, left voice messages, text messages, emails, but once again, crickets.I've called the main office (same building mind you) but they couldn't tell me if he was actually there or not "because he is in in different department". My advise: get out lazy **** out of the chair and walk over and pull on ****'s shirt that he NEEDS to call his customer!Once again, my advice, DO NOT WORK WITH LENDIO!!!!

  

  Business response

  05/02/2024

  Hi ***** - we're so sorry to read this it is not the experience we want for our customers! A member of our team has reached out to help resolve this with you, and we've made sure to share your feedback with our team as well.

• Initial Complaint

  03/29/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I was referred to lendio by another website. I apply for a loan and was told that they would check with their lenders. Within minutes I was texted by a rep asking if I had time to finish my application (thought I did already). I explained that I didn’t have time at that very moment. I messaged him the next day and got no response. I messaged him a few days later and still no response. At this point I was ghosted by the rep. I also received an email from another rep that asked to respond with a 1 or 2 depending if I wanted a loan or business credit. I asked what are the fees and they told me that it depends on many factors and we need to do an application. So I asked for a loan application. I didn’t hear back from this individual. The next day the same person email me with another email explaining what products they offered. Once again in replied that I wanted a loan. They don’t respond. Today they sent another spam email. What is the point of email customers if your reps are not willing to help with the applications? You’re just wasting everyone’s time, energy and money.

  

  Business response

  04/01/2024

  Hi, ****,
  We are so sorry to hear this. This is certainly not the experience we want our customers to have. We do see that you reached out to us on the 27th to let us know that you were going with another company, and that moved your file to “inactive.” We’ve let your representative know you’re interested in moving forward again. They should be reaching out to you shortly.

  Thank you,

  The Lendio Team

• Initial Complaint

  03/21/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Lendio has failed to contact me or answer my calls regarding loan application. They haven’t answered my emails either after sending bank statements?

  

  Business response

  03/25/2024

  Hi, ******,
  We looked into your file and unfortunately, after reviewing your account, it appears you have violated Lendio's Terms of Use. Lendio has therefore suspended all access to the account. This outcome is final and irreversible. Please be advised that you will no longer be able to conduct any transactions using Lendio's portal. You may reach out to ****************** with any additional questions you may have.

  Thank you,

  The Lendio Team

  Customer response

  03/27/2024

  
  Complaint: ********
  
  I am rejecting this response because:
  
  The business has been contacted using the email provided in the business’s response. There hasn’t been any response for sometime. The business did not say I violated any terms of conditions. The excuse that I violated any policy is inaccurate, untrue, and false. 
  
  Sincerely,
  
  ****** ********

  

  Business response

  03/29/2024

  Hi, ******,

  According to our records, you did email our Privacy Team (****************** ) in June of 2023 and did receive a response from our team. At that time, you were notified of the violation of our Terms and that you would not be able to conduct any transactions with Lendio moving forward. We have no record of any recent emails sent by you to this address. As mentioned previously, this outcome is final and irreversible. You may read more about our terms of use on our website: ***********************************************

  Thank you,

  
  The Lendio Team

• Initial Complaint

  01/07/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Dispute

  

  Business response

  01/16/2024

  We are so sorry to hear this. This is certainly not the experience we want our customers to have. A member of our team was able to get in touch with you on Friday, January 12th but you requested that we call you back at a later date and time. We attempted to contact you today on Tuesday, January 16th via phone, email and text to resolve the matter but wasn't able to get a hold of you. We will continue to reach out to help resolve this issue.

• Initial Complaint

  10/30/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I applied for a loan over the summer with Lendio. They seemed like an ok place and would help me secure financing for a small business I just started. Upon using them they set me up with lenders that had extremely predatory rates (35% to 65% APR). This did not fit my need so I closed my Lendio account. I received a notice back stating they could not completely close my account due to an application being filed which has some legal reasons they are not able to accurately articulate to me. While I understand that they need to keep the application info on file, I asked they do not use my information to provide to other partners or even share my information to other partners even if it isn't to be contacted. I have asked repeatedly for this to stop via email so I can get it in writing and Lendio is not complying, they simply just refer me back to their privacy policy which is long and complex. Here is what I am looking for: *Written confirmation from Lendio they will no longer be sharing my information with their partners, they are only retaining my information for legal purposes and will not have any commercial use within their organization. *Written confirmation from Lendio I will not be contacted by them or their partners in the future. *Written confirmation from Lendio of the exact date my information will no longer be in their system.

  

  Business response

  11/07/2023

  Thank you for reaching out. Please see below for more information regarding your request:
  

  - Lendio only shares your information with lending partners to provide business financing offers to you. Since you have requested we no longer seek business financing offers for you, we will not share your information with our financing partners.
  - Lendio has retained your information as set forth in our privacy policy, which will be in conformance with our legal and contractual obligations. We will continue to retain your information in conformance with the law.
  - Lendio will not be contacting you in the future, unless you create a new Lendio account, or notify us that you’d like us to contact you.
  - Lendio will continue to retain your data as set forth in our privacy policy, including for those periods of time that we are required to do so with applicable law and for a reasonable period of time as determined by Lendio.

  Thank you.

  The Lendio Team

• Initial Complaint

  08/30/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Hello, I am writing in hopes that the BBB can help me. I am the owner of Paloma Taco and Tequila in Milwaukee, WI and I was looking for a small business loan and decided to work with Lendio for this. I started the uploading of all my sensitive documents that they require on line Aug 1. I have emails from two different reps I was emailing back and forth with to see that I get all correct document uploaded. Items such as my drivers license, taxes, bank information, etc were all uploaded into their system. The moment that everything was complete, I have had zero contact from anyone. I have sent several emails, as well as my office manager, Gina. I have tried calling the numbers listed on the emails from the two reps that helped me upload everything, left messages and still nothing. I have tried calling multiple time the customer service number listed online and all they could tell me is that it is under review and that I should email ****************** with any questions or concerns. We have emailed multiple times with little to no response. The only response I have received is an email saying...... Thank you for your privacy-related request. After reviewing the account in question, it appears to have violated Lendio's Terms of Use. Lendio has therefore suspended all access to the account. This outcome is final and irreversible. Please be advised that you will no longer be able to conduct any transactions using Lendio's portal. Government entities such as the Consumer Financial Protection Bureau govern document retention requirements which obligate Lendio to retain the information in your file. Therefore, we are unable to remove your account at this time. Regards, Lendio Privacy Team I have no idea what they are talking about and I am feeling very uneasy about them having all of my important information. I, at the very least, deserve some sort of information regarding my account and why I received this email. Any help you can provide would be helpful.

  

  Business response

  09/11/2023

  I hope this message finds you well. Firstly, I want to express our sincere apologies for any inconvenience or frustration you may have experienced so far. Your satisfaction is of utmost importance to us, and we take your concerns very seriously.
  
  As you are aware, our legal team has been actively working to review and address your case. After careful consideration, we have decided to reassign your case to one of our highly skilled Account Executives (AE). We appreciate your willingness to work with us and give us another chance. 
  
  We genuinely appreciate your patience and understanding as we work to resolve this matter to your satisfaction. Please rest assured that we are fully committed to ensuring your experience with us is a positive one.
  
  Thank you for choosing Lendio, and we look forward to working with you to achieve a swift and satisfactory resolution.

  Customer response

  09/11/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ****** ****

• Initial Complaint

  07/15/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I applied for a loan and was not given what I believe is reasonable feedback on who was consulted and reasons for denial at the time. ********************* was difficult to get ahold of and would not provide any details without being pressured or through threat of a complaint. I put in a formal complaint weeks ago with no response and **** continues to send me emails even after doing this. We have received dozens of letters for applications not completed in the same date range we applied to Lendio leading us to be worried our application was pushed to their more predatory loan companies.

  

  Business response

  08/21/2023

  Hello,

  Our BBB account was previously being managed by an employee who is no longer with the company. As such, we were not given credentials to login until just this Friday. I have taken over to handle any complaints going forward, however it was not due to any sort of negligence, just not able to login. Please let me know how I can rectify this as soon as possible. Thank you for your time. 

  ***********************

  Customer response

  08/24/2023

   
  Complaint: 20326087
  
  I am rejecting this response because:

  the issue at hand was not addressed and not attempts to find a resolution was made. It has been over a month.

  Sincerely,
  
  *********************************

  

  Business response

  08/28/2023

  Dear **********************,We hope this message finds you well, although we understand that recent events might have left you feeling frustrated and disappointed. We are so sorry for the experience you've had with Lendio. Please know that this is not indicative of the service we strive to provide. We have updated our systems to ensure you are not contacted in the future and are working with any known third parties to make sure they do not contact you as well.  Please let us know if you would like to discuss your application and reasons for denial in further detail and we will arrange a time to provide details. Once again, please accept our sincerest apologies for any inconvenience you've experienced. We are dedicated to improving your experience with us and ensuring that you receive the quality of service you rightfully deserve.

• Initial Complaint

  11/30/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Lendio representatives continue to call me, text me, leave me voicemails, ask me to submit documents urgently, then they never get back to me. Im assuming its because I was denied, which is fine,but they never tell me that or bother to update me. That is unprofessional, and annoying. Then, a few months later they do the same exact routine over and over and over again. Im in ******, and they call me at ALL hours of the day and night from different phone numbers, then they text me and email me. When I block their number, they keep on calling me from another number, and sometimes its the same person contacting me from all of the phone numbers.

  

  Business response

  12/01/2022

  ****,  Thank you for taking the time to send us feedback. Every one of our team members are vested in the success of our small business owner customers. The experience you described is not what we strive to deliver, we will explore this matter further to ensure our teams can learn caring customers like yourself. Any time you are ready to actually apply for funding, please reach out to our Customer Experience team at ************ and they'll assist you in updating your application and uploading the necessary bank statements.
  

  We again apologize for your recent experience with Lendio and have marked your file appropriately.

  Customer response

  12/02/2022

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***********************

• Initial Complaint

  09/02/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Lendio took my information to submit an SBA 7a loan on my behalf, they never submitted and verbally lied to me about the submission. I believe this was an intentional move in order to pressure me into taking a loan from one of their sketchy lenders. ***************************** was rude, wouldn't let me speak to a supervisor, and changed his story more than once. I believe this to be an attempt to scam or commit fraudulent activity, and now they have all my personal information.

  

  Business response

  09/07/2022

  *******, At Lendio, we believe growth comes from engagement; and appreciate your personal experience being brought to our attention.  As our agent shared on the phone, your credit score was not high enough to qualify for the *** program.  The ***************************** (***) is a government based program and Lendio has no flexibility in the underwriting criteria the government requires.  We do have other loan options beyond the *** if you still desire a loan outside of the ***.  We wish you and your business all the best.
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩