Currency Capital

Consumer Reviews and Complaints

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My husband and I applied for a loan. Before finalizing the deal we drove 500 miles to view a truck we were purchasing for our business, to find out it was fraud and there was no truck. When we discussed the matter with Rebecca our agent and advised we wanted to revamp this issue and go another route she explained they would not refund the money they stole in the amount of 1,408.16. This company is a fraud. Not only were we experiencing fraud from the seller but from the loan company too. When asked to justify keeping funds from a deal that was never funded, now we can't get them on the phone. Or a response to emails.

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I had a very good experience. Stephanie and Eric made it so easy and stress free. I will be dealing with them when it comes to my business needs in the future! I strongly recommend your company for any business. Thanks again.

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I was looking at a piece of equipment on eBay and there was a little button that I clicked on to apply for a financing with Currency Capital. I did an equipment leasing loan with them which has been helpful. I was able to add equipment that I'm gonna need to do a sizable job to start in the next month. Their rep has also been really good. He was easy to talk to and get a hold of so I had no problems at all. I would recommend Currency Capital to a friend.

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I got a business loan from Currency Capital. They helped with the capital issue. Without this loan, in the short term, it would be more difficult because of capital issues. It would affect operations. On the other hand, it may have minor effect long term. I spoke with the relationship manager via phone and through email, then sent text messages to one another. The response times were quite good. It was good to know that there was a lender out there who could work with my current financial situation. Overall, it was a good experience. It moved quickly and I would recommend them to someone else if needed.

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My cash advance from Currency Capital gave me a quick fix to a couple of issues I had. Overall there isn't anything horrible about it but it wasn’t an excellent experience either. It was pretty arduous as far as the process of it, having a liaison between Currency and then going into actual funding of the business or funding of it through a different company. I also had a lot of unnecessary paperwork digging that wasn’t clarified, which was a hindrance in the process. I would've cancelled it instead of taking any longer, but it’s taken so long that by that time I was pretty desperate.

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I was hoping for a traditional loan from Currency Capital but unfortunately, I got a cash advance. Still, it helped with some funding needs for capital expansion. My business performance would have been a little strained without the loan. It would have survived, but the loan made it a little easier. I'm waiting on a response from my relationship manager to an inquiry I sent a couple of weeks ago and I hadn’t heard anything. He's been easy to contact up until this last time.

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I sought a business loan from Currency Capital which helped me expand my business and grow my inventory. They got everything out for me and explained to me how to pay it back.

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I received a business loan from Currency Capital. It gave me some cash flow that I've much needed at the time. It took some strain off of the issue. I've had a couple of interactions with their rep and these have always been good. My only issue is that when I applied for it, they didn't tell me I was gonna have about four hard pulls on my credit personally, from four different lenders. I lost a hundred points in my credit score. If they would've told me, I would've passed on it. Even their lender that eventually lent me did a soft pull. I'm not really happy about that part.

2 people found this review helpful

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We were in a struggle and Currency Capital helped us a lot. We got a loan for a vehicle and the person I talked to was friendly, nice and really helpful. They were excellent and if I had the possibility to recommend them I will do so.

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I received a standard loan for a truck from Currency Capital. The relationship manager was good and I have no complaints. She was able to answer all my questions and she was easy to contact. It was a positive experience with Currency Capital. It's a little slow to get the loan, but we got it done and that's all that matters. I'm happy.

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I got a business loan from Currency Capital. It helped me to buy some new equipment and get my business on the right track. The relationship manager was well put together and he took care of what he’s supposed to take care of. However, I just thought the interest was a little over the top. But overall I had a good working experience with them and they were very efficient.

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Currency Capital

Hi Darren,

We apologize for your experience with Currency. After investigating the case, we have gathered the following information: The client originally expressed interest in financing with Currency. After agreeing to proceed with the funding process, Currency was able to approve the client for an 18 month contract. The client’s Account Executive worked closely with the client to move the deal forward but the client was unsatisfied with the term length. We appreciate your business and are happy to move forward with the funding process if the client so chooses.

Once again, we sincerely apologize for your experience. This experience is not indicative of how Currency conducts business. If you have any further questions or concerns, please feel free to contact us at (800) -935-2178 or assist@currencycap.com.

Original review: Dec. 1, 2016

I've used them before and everything was fine, but this time the acct. rep was great but, I signed a contract for 36 months, but came back with "we can only do 18 months," putting the payments way too high for my small business. Don't feel like they appreciate return customers. If I treated my customers like this I'd be out of business. I feel like because I'm not doing big money, that not treated the same as the bigger customers.

2 people found this review helpful

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My leasing loan from Currency Capital has made it easier to afford the equipment I need and be able to get it right away without having to outlay cash. Their staff has been very congenial and they always got back to me.

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I have an equipment loan and a personal business loan from Currency Capital. The people working with them were good. They were timely and prompt on getting back to me and let me know what was going on. The loans gave me a little bit more freedom for being able to do some advertising and boost up the office.

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Currency Capital

Hi Shabere,

We apologize for your experience with Currency. After investigating the case, we have gathered the following information: The customer reached out to Currency after previously winning an auction on IronPlanet. After successfully winning the auction, the customer was approved from financing from Currency and began the funding process. As standard through Currency’s funding procedure, the customer signed loan documents authorizing the contract and financing.

With loan documents signed, Currency informed IronPlanet to expect payment for the customers purchase. The customer proceeded to unilaterally breach the loan contract with Currency. The customer was informed by Currency that the loan agreement the customer signed is un-cancellable which is clearly outlined in the loan agreement the customer signed. The customer is now in collections with IronPlanet for the unpaid auction piece. Due to the customers signed loan agreement, Currency did not breach the contract and is still able to fund the customers purchase if the customer chooses to move forward.

Once again, we sincerely apologize for your experience. This experience is not indicative of how Currency conducts business. If you have any further questions or concerns, please feel free to contact us at (800) -935-2178 or assist@currencycap.com.

Original review: Nov. 22, 2016

Currency Capital approved my company for financing and they were supposed to finance a dump truck. Instead they sent me a lease agreement, removed over $2900 (first payment, last payment and doc fee) from my business account for a truck that they never purchased! CURRENCY CAPITAL said that they will not refund my company the money they stole even though they breached the contract and never purchased the vehicle. Please do your research on this company and stay away from these guys. They prey on start-ups and companies that don't have access to capital. They were going to finance me $25000 but wanted me to pay back over $65000 to their company after 4 years and still not own the vehicle. There are other options out there, please beware of CURRENCY CAPITAL.

9 people found this review helpful

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My experience with this company was great. Guaranteed approval when you submit your information. They will let you know how they can help your company get funded for working capital to support your business. My financial agent helped me all the way until the deal was complete.

2 people found this review helpful

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My boyfriend and I used Currency Capital because we needed extra funding for our small business. It turns out we were told that the payments would be 59.76 daily and there would be no payments taken out on weekends and holidays. That is not true. If there is a holiday and the bank is closed they take two payments a day on the following day that the bank opens. I went back over the contract and there it is in small print where most people don't notice enough to read.

Also, we had to pay 250.00 to have the paperwork processed thru currency capital and then we had to pay 300.00 to New Logic - which is a company that currency capital uses - once the money was deposited into our acct. We were never told about the 300.00. I got online a few days after the deposit to check our account and there was the 300.00 debit. I also went back and pulled all my emails to see if I missed something. All signatures were done docu-sign and now when I try to pull the contracts that were emailed to me there are no attachments attached to any of the emails. As for recommending this company I WILL NOT. They are misleading and untruthful. If you choose to use this company PLEASE be careful. Personally I would not use them and will never recommend them.

4 people found this review helpful

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We secured a loan from Currency Capital in order for us to consolidate our business bills. We were having major difficulties with general contractors that we have done some big work for and they're slow payers so sometimes, it takes up to four or five months to get the bill paid. The money that Currency Capital gave us is getting us through right now. We have nine months to a year to pay it off, so the terms are decent. If you figure out the interest, it was a little high but better than the rest of them as far as that type of loan goes. And now we've started getting the money in from the general contractors so hopefully by next month, we're gonna have all of our debt caught up and are hoping to knock down this loan rather quickly after the first of the year.

My wife takes care of all the books in our company and she dealt with Miley who pushed the loan through for us really well. Miley stayed on top of everything and did the best of her part that she could do. As far as comparing them to the other companies that do what they do, Currency Capital has been the best overall.

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The equipment loan from Currency Capital helped me buy equipment to get more business. It has helped tremendously. My business would be stagnant without it. Everyone I've spoken to over there has been really great.

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Currency Capital sent me an advertisement which I thought was a secured credit card. I called the number and it turned out that it was business financing, short-term loans. I did a temporary business loan and then we got a lease with them for some equipment. Without it the loan, it would have been a stretch to cover some bills so it was very helpful for us. They were great to work with. They've absolutely accomplished what they said they could and got everything done in the time that we needed it done. So, I'm very happy with dealing with them and will continue to do business with them in the future on any other loans that I needed.

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Currency Capital

Hi Paul,

We apologize for your experience with Currency. After investigating the case, we have gathered the following information: After speaking with the client’s Account Executive, the client expressed interest in receiving funding from Currency. The client agreed to move forward with the funding process and signed their application giving Currency permission to submit the client’s file for funding approval.

Currency’s lender partner presented terms to the client but the client hesitated because of there being no recourse for him if he were to miss a payment. The client is under the impression that if he misses one payment with Currency’s lender partner they will take the collateral, security deposit, the backhoe, and sue him for the reaming payments owed. The client did not feel comfortable moving forward knowing he was going to personally guarantee the deal and potentially open himself and his family to liability.

Once again, we sincerely apologize for your experience. This experience is not indicative of how Currency conducts business. If you have any further questions or concerns, please feel free to contact us at (800) -935-2178 or assist@currencycap.com.

Original review: Nov. 3, 2016

I was in the market for financing equipment so I put my name out and Currency Capital contacted me through email. It was supposed to be a loan and they said I was pre-approved but then it turned into a lease and it was one thing after another. It was like bait-and-switch. Said one thing, another thing came out. I'm not gonna lease a piece of equipment that I'm paying $20,000 for and it's $31,000 at the end of the three years that I'm paying them. I understand there's interest but they wanted almost a $4,500 security deposit plus the title of my dump truck. At the end of the three years, I can either give the tractor back and get my security deposit back or I let them keep the $4,450 as a payoff. They'll end up making $35,000 on my $18,000 backhoe. And it wasn't for me.

There's even a little bit of pressure to take the lease that they gave me and it was a little sketchy. They weren’t being upfront about everything. They told me that I can pay it off early and they gave me early payoff discounts. But that changed and none of it was true. I wasn't very happy so I did not take a loan out with them. I would never recommend them. They ended up setting me up with Snap Advances for a cash advance. I had the Snap Advance fortunately but there isn't much I can do about it.

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Currency Capital

Hi, Charles -

We apologize for your experience with Currency. Currency treats every consumer complaint with the utmost respect and sensitivity. Per every complaint we receive, we conduct an internal review of the case in order to better understand the complaint and reach a solution.

The customer has successfully reached a resolution with Currency and issued a full refund. We highly encourage any further feedback to better improve our customer communication.

Once again, we sincerely apologize for your experience. This experience is not indicative of how Currency conducts business. If you have any further questions or concerns, please feel free to contact us at (800) -935-2178 or assist@currencycap.com.

Original review: Nov. 2, 2016

I inquired about business loans on LendingTree.com. I was contacted by Joel of Currency Capital. He told me he could get me $20,000 in a "leasing" deal. My payments would be $658.00 per month for 60 months. I realize that the amount paid for the amount borrowed was pretty high, but Joel told me they report to the credit bureaus and I figured that the building of the credit would justify the cost. I signed a docusign document with the payment amount, but no principal amount... I should have been a bit more concerned with the fine print... it does say they keep the "first and last payment" pretty much no matter what. I thought we had a deal.

I was later told by Joel that I was not approved for the $20,000 as previously discussed, but I had been gotten a deal for $12,000 with payments of $610.00 a month... I need the equipment and the credit, but to agree to pay almost $30,000 for $12,000 in credit is simply borderline insane. I asked for a refund of my $1300 they took the very night I signed the document and was told that since they came to me with a deal they would not refund my money, it is my choice to not go forward so it's not their fault... anyways on the document I signed it does mention this as a term in the fine print, but it also says that the deal has to be approved on substantially the same terms as discussed... which it is not.

So my recommendation to anyone directed to this firm is to be extremely cautious and beware they will take your money and refuse to refund it when you do not take a deal that is not the deal discussed and differs substantially from the original amounts and terms discussed... this is a simple case of predatory lending and my court is going to define the term "substantially different".

7 people found this review helpful

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Our loan from Currency Capital helped to get us out of a bad situation pretty quick and it's worked so far. Their reps were friendly, business professional, and did everything they could to help. As of right now we're doing fine. They gave us what we needed and took care of us. I'm very satisfied and I would recommend them.

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I was searching for a machinery and I couldn't afford its total amount. I went through Currency Capital and got a business loan from them. They facilitated the payment for the machinery and were very helpful.

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My manager is good, sharp, on it, and anytime I call him, he gets right back to me. Working capital loan has helped a lot, and our business is growing using it. Without the loan, I would be doing something else.

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We went with them because of their response time. They were incredible and their representative, Jake, did a very good job. He was excellent, very professional, answered my questions quickly, and followed up on any requests that I had. From start to finish, we had the whole process done before the week's end. We started it in the beginning of the week, and two or three days later I knew that it was going to happen, and I was shocked. We received our contract by email. With them you could know if it's going to happen or not, whereas with banks the process takes from two to four weeks, and you start to plan on getting the loan, but a lot of times it doesn't happen.

It was for an inventory that we got a loan from them. We work on a cash basis, so this loan really helped on those slower months that we could use up our inventory. It put us in a better position. We're up almost 25% on sales this year. I'm very pleased. It's nice to have that type of service available to small business owners, so we really appreciate it.

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Currency Capital was willing to work with me with no years of being in business so I went with them. We'd been struggling pretty hard at some point and having the loan allowed our business to keep operating. If we didn’t get funding at certain points, we’d probably be shut down for a week or so. They're really direct. If half a day goes by and I don’t get with them, they get to me to make sure we get it processed.

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Currency Capital's relationship manager was good. The working capital loan I got from them helped me get back on track and catch things up a little bit. My experience was okay and I would recommend them.

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Insufficient response received

So many other companies out there. This company has shady practices. They have reps that smooth talk, they are your friend, they are there to help you -- then you being trusting to a good rated company with good reviews (for the most part) sign your docusign paperwork. Then when you discover their shady business they get out of it saying "You signed the paperwork", "Can't you do the math?!" Even though what is on the paperwork is not what was promised. And oh.. well of course what was verbally agreed on doesn't count. So you're pretty much screwed, unless you want to ruin your credit.

MAKE SURE THAT WHATEVER is discussed verbally is followed up with an email. DO NOT let your contact 'go around' the question. GET a "YES", "NO", or "CORRECT" out of your response. Document via email all verbal conversations and get a firm acknowledgement out your contact. We are pretty much screwed. Beware. Don't finance with them.

9 people found this review helpful

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I got some money through the Currency Capital program and it was fine. With the loan, we were able to buy more equipment and some advertising and raised our revenue for the year. With their relationship manager Ben, everything was great. He got back to me when I needed information and managed the process well. I received the contract electronically and I received it quick. It was easy to work with them. I wasn't too thrilled about paying all that interest but with my situation, I really didn't have a choice so it wasn't their fault.

Currency Capital Company Profile

Company Name:
Currency Capital
Address:
12100 Wilshire Blvd
City:
Los Angeles
State/Province:
CA
Postal Code:
90025
Country:
United States
Website:
http://www.currencycap.com/