Reviews

STAY AWAY from loans for this company. They freely give away loan money and they do not have a website showing you your loan nor do you receive statements. Youre essentially blind to your entire account. You can only call and talk to someone during designated calling hours so if its after 5 during the week or after 2pm on the weekend, you cant do a thing. I was approved for a ridiculous amount of $150K - and took a $77K loan to consolidate debt. I had already made 3 payments before I learned $1400 of my payments were INTEREST! Only $200 of every payment was principle. To pay off your loan, they have to email you a payoff letter. And even after 3 payments, my payoff amount was over $78K!! They are sneaky and will drain you before you pay off any loan. I am out over $4K in interest because of this company. Sickening.

We have reviewed your message submitted through the Better Business Bureau (BBB Review #******)to BHG Financial on 1/25/2025. *** takes customer reviews seriously and is committed to providing timely and accurate responses.

*** welcomes the opportunity to set the record straight regarding your concerns. *** discloses all rates, fees, terms and conditions of our loan proposals and documents in writing in advance of funding allowing applicants ample time to review and ask any questions they may have regarding the loan proposal. All *** loans are fixed rate simple interest loans, with the same monthly payment amount and date for the entire term of the loan, making it quite easy to track. A full Amortization Schedule is provided as well which shows the monthly payment with the principal and interest broken down monthly as well as the outstanding principal balance. Its all disclosed up front, before borrowers make a final decision to move forward with funding.

The reason why your interest amount exceeds your principal amount early on is explained by simply understanding how the process of loan amortization works. In the beginning of your term, you owe more interest, because your loan balance is still high. Most of your monthly payment is applied to the interest you owe, and the remainder is applied to paying down the principal (similar to a mortgage or auto loan). Over time, as you pay down the principal, you owe less interest each month, because your loan balance is lower. This means that over time, more of your monthly payment goes to paying down the principal. Near the end of the loan, you owe much less interest, and most of your payment goes to pay off the last of the principal. All lenders use a standard formula to calculate the monthly payment, this allows the right amount to go towards interest and principal so the payoff amount is precise at the end of the term.Your statement I am out over $4k in interest is simply a result of your loan balance and interest rate using standard industry amortization and you making monthly payments as presented and agreed to. The identical loan with another lender would result in the exact same principal and interest amounts.

Please note, paying off your loan does not require a payoff letter as you claim, unless you plan to pay it off early then you can request one, as interest changes daily.This is also another industry standard, the same process is used for early payoffs on auto loans or mortgages.

Should you need an updated amortization schedule at any time or assistance with your loan you can contact our award-winning *************** Team, which is there to help our customers at ************ Monday through Friday from 8am to 9pm (13 hours each business day) and *** *************** is also available during weekend hours as well.

*** PERSONNEL WERE VERY PROFESSIONAL. I FELT COMFORTABLE HAVING DIALOGUE WITH THEIR TEAM OF EXPERTS

Hi ******. It's great to hear about your experience working with the BHG Financial team. We make it our mission to provide stellar service along with financial solutions tailored to your unique needs.

*** displays ethical commitment to its client. They are focused on producing results that are conducive to the specifics of the client. They did not over promise outcomes and they were consistent in communicating the companys ability to facilitate an outcome that worked for me

Hi *******. Thank you for your honest review of BHG Financial. We've built up our business on the tenets of service and integrity -- We're pleased you enjoyed your experience with us and that our team could assist.

Received marketing letters weekly with claims of personal and business loan potential. Finally after about the 20th letter, decided to apply. The application process is limited to just a few questions and some personal information. Denied almost immediately. Added a co-applicant and still denied almost over night. Not sure how our household showed up on ***'s marketing as a target, but we should have continued to throw ***'s mailers in the trash. **************** and/or their Account Executives are lack luster to say the least. I've never regretted a financial decision more than allowing *** to see my current financial health and completing their application process.

*** makes every attempt to find a viable financial solution,however sometimes we are unable to do so based on various factors. We know peoples time is valuable, so we pride ourselves on the state of the art tools we utilize in order to make a quick credit decision and not make the process burdensome or slow for the customer.

I made the mistake of acquiring a loan through ***. At the time I went through the application process I was led to believe that I was receiving a 48 month loan. As I am approaching the 36 month payments I was under the false impression that I was near the end of the loan. But to my shock and dismay BHG loans are for 144 months, which is 12 years. Based on their schedule you will be paying 3 times the amount of the original loan and you cant make any additional payments for the first 48 months of the loan. They dont even provide a portal so that you can review your balance and payments and how the payments are applied. Im mad at myself for not fully understanding the process and want to ensure others are aware of this type of business. When I spoke with someone from the company and told them of my experience they just gave the obligatory apologies but nothing has changed and I told them I would be sharing my experience with as many others as possible.

*** takes its ******************** Program seriously and is committed to accurate and timely responses. A *** *************** Manger reached out directly to the borrower by phone on December 20, 2024 to discuss his concerns relating to his commercial loan that funded with *** in February 2022. For all *** loans, ALL rates, fees, terms & conditions (including sum of payments) are provided in writing for the applicant to review before closing. *** prides itself on full disclosure and even performs a verbal verification phone call prior to funding where key aspects of the loan are reviewed again with the customer and the customer is asked to acknowledge they understand the terms and conditions of the loan. At the end of that call in February 2022, a *** representative asks "I want to confirm that you understanding everything"? The borrower replies "yes" and is also given the opportunity to ask any questions regarding the loan, the borrower had no questions. If an applicant is not comfortable they are free to walk away as all *** loan proposals come with no cost or commitment. Ultimately the applicant decides if they want to move forward with the loan proposal. During the December 20, 2024 call the *** Manager reviewed the terms and conditions again with the borrower which were all provided prior to funding in February 2022. In addition, the *** Manager sent him a copy of his commercial loan amortization schedule and provided the borrower his direct contact information should he need it in the future.

They were very informative and was easy to communicate with. They didn't try to loan me more money than I asked for

Hi Don. We truly appreciate the review! It's great to learn you enjoyed your experience with BHG Financial and that our team could lend a hand.

It was an easy process, my contact was knowable and made it really easy to get through what I expected to be a stressful process.

Hi *******. We can't thank you enough for the stellar review and for sharing your experience with BHG Financial. It's truly our mission to provide the best service possible throughout the loan process and beyond.

Very supportive and professional. They explained the loan process and kept me in the informed. Excellent staff for attention to detail.

Hi *******. We truly appreciate the review and are pleased to hear you enjoyed working with the BHG Financial team. Superb service is truly our top priority.

Easy process, excellent customer support. Would definitely recommend them for your financial needs.

Hi ***. Were delighted youve enjoyed your experience with BHG Financial. Professional and efficient service is truly a top priority for us across every department.