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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
08/20/2022
- Complaint Type:
- Order Issues
- Status:
- Resolved
Hello, I was in search of a small business credit organization and came across the company "******" at ******************************************************* I was contacted by a rep by the name of *********** to assist me. I explained that I was interested in a line of credit for my business. With no credit history, I was told that I needed to work with them firstly with getting a funding amount of $5700 direct deposited to my account and after 3 months of on-time payments, I could refinance out into a line of credit. The rep insisted that this would be the best way to go. *********************** is the group that provide loans. ****** is the broker company. When ****** sent me the agreement from ***********************, I noticed that there would be a significant amount of interest that would be owed to *********. I called ********* to ask if they knew anything about refiancing after 3 months into a better loan, they did not hear of such a thing. I immediately called ****** to clarify and ****** insisted that we could refinance out of that loan at 3 months and avoid the interests and get into a better loan. He insisted for me to just go ahead and sign the agreement so that he can lock it in because it is subject to change. When 3 months arrived, ****** did not help me but instead directed me to another employee. During this time, I spoke with ****** and *********, they have no idea of the refinance and insist they could not do anything about refinancing into a line of credit. In fact, both companies said they do not even offer that option. Only direct deposit funding and can only refinance for more funding. ****** led me on to believe that half-way through the funding term I could refinance into a business line of credit and that was not true. ****** neglected to provide recorded phone conversations as well.
Business response
09/02/2022
Business Response /* (1000, 5, 2022/09/02) */ We are in communication with ******. I am actively working to get his loan renewed or get him qualified for a new business loan product. We will maintain communication as this process does take time. Consumer Response /* (3000, 11, 2022/09/26) */ Hello! The response did not resolve my issue. I proposed that I have the solution for the loan interest that ****** cost me due to misleading information from one of their employees. Thank you, ************* EMJ Investments, LLC Consumer Response /* (3000, 11, 2022/09/26) */ Hello! The response did not resolve my issue. I proposed that I have the solution for the loan interest that ****** cost me due to misleading information from one of their employees. Thank you, ****** ****** EMJ Investments, LLC Business Response /* (4000, 20, 2022/10/11) */ ****** and I have spoke at length. He was issued a refund for our services and this issue has been resolved. Consumer Response /* (3000, 11, 2022/09/26) */ Hello! The response did not resolve my issue. I proposed that I have the solution for the loan interest that Lendzi cost me due to misleading information from one of their employees. Thank you, ************** EMJ Investments, LLC Business Response /* (4000, 20, 2022/10/11) */ ****** and I have spoke at length. He was issued a refund for our services and this issue has been resolved.
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.
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