Currency Capital

Consumer Reviews and Complaints

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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.

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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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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.

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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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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.

5 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.

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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".

2 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.

8 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.

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I received a small business loan from Currency Capital. I was with another company before that was rather difficult to work with. They'd be like, "let's pay this loan back down 65%" or go about rules and regulations they didn't tell me about. On the other hand, Currency Capital was like, "you qualified for a $100,000", and they were gonna give me 80 now and then 10 two weeks from now.

When we start good-sized jobs, we can use that capital to mobilize, make payroll and then make it pay back every day. Instead of having to wait for a check to come in, we can keep current on all the bills on projects and then once their checks come in, the figure balances itself out, except for their exorbitant service fee. I was trying to job in to September and making preparations in the middle of September and the job was in two days, but their guys were quick and very easy to work with.

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I financed a semi-truck through Currency Capital and it has been pretty good. However, I thought they could get it done faster and it actually took a long time to get it done. Working with my relationship manager was good and she did a great job, we got things by email but it went pretty slowly. We also had to switch back and forth a little bit from one truck to the other. They could get the process done faster. Plus, nobody seemed to be sure how much more information they needed all the time. They kept going back to dig out more and more information. And then, I was going to see about getting another truck and they wanted more information. That turned me off because they already have everything I had. I would've found a different loan somewhere else. Nevertheless, I'm really happy and everything worked out fine.

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The whole setup from Currency Capital offered what we needed for our budget. It was very easy working with them, the rep has been really good and the contract we got was perfect timing. With the loan, we’re able to spend more money on marketing.

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I went with Currency Capital due to their customer service. I've been with them for a good eight months now. We expanded our banquet room to make space for more seating. The process was good. Without our loan, our business would be less productive.

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I was browsing on the web and came across Currency Capital. I looked up some things about them and gave them a shot, and everything worked out. The guy that I talked to was straight up with me. He told me how good the company was and I felt that he was being truthful to me. He told me exactly what he could do and if anything was to change, he would let me know. Every time he told me he was going to contact me or send me an email, he kept his word. That's what really bought me. Most of the guys that worked with me kept their word. If I call them and I couldn't get them on the phone, in 30 minutes they'd call me back which was really nice. And to me, when someone can keep their word, I can really do business with them. If I had a question that needed to be answered, their rep got right back with me within minutes sometimes.

CC helped my business a lot. I was renting trailers before and I won't have to rent from anybody now. I have my own trailer so I'm not limited to what I can do. It opened me up to different loads and there was stuff that I was missing on before that I wanted to do but couldn't because I don't own my trailer. I can now deal with who I want to deal with. I was talking to the rep about getting another 18-wheeler and I told him when that time comes, I will get in touch with him to do business again and I'm looking forward to that in the future. I received my contract in email and it wasn't long at all. When their rep would send any paperwork, they would give me a call to make sure that I got the paperwork, get it signed and back to him. That's how it was every time. It was easy working with them and it has been a good experience.

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When I went online to look at a building, they suggested I talk to Currency Capital who then called me. The rep was very pleasant and very nice to talk to. He’s even returned my call, asked me how things were. Everything was absolutely wonderful and happened a lot faster than what I was expecting. They were great and I'm very happy with them.

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Currency Capital

Hi Carol,

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 was informed that Currency is a direct lender and does in fact provide in-house financing. The client was also informed that Currency works with a multitude of lending partners in order to provide the best possible funding options for our clients.

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. It is during this step that there was a miscommunication with the client’s understand of the complete funding approval process. Currency accepts full responsibility for not presenting this process in a more clear and concise manner. Currency values each individual client’s information and privacy with the utmost respect.

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: Oct. 6, 2016

I was contacted by Currency Capital and they told me they were a direct lender, not a loan broker. I was told they would only do a soft pull on my credit, not a hard pull without speaking to me first. I quickly received a notice from Experian of two unauthorized credit pulls. They claim that the disclosures allowed them to contact other lenders, but in my conversation with them I made it completely clear I DID NOT want them to contact other lenders. They are irresponsible and they lie. I told them to CEASE sending my application to ANYONE. I am pursuing legal action to get those credit pulls removed. Horrible company.

4 people found this review helpful

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I got a small business loan and a purchase for some equipment from Currency Capital. Having the extra money and buying the equipment was helpful. I do that to build the credit. Everything was good with the manager that we talked to and he was very on top of it. However, it doesn't really do anything for me. My biggest concern is my interest rate that I feel like I paid too much on, and I only did it to build the stepping stone with Currency Capital. But next time around, if it's the same, I would have to go elsewhere. Other than that, the experience was pretty good.

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I had an excellent experience with Currency Capital even if it was a longer process than I hoped for. The loan was for a group of equipment and Currency Capital authorized the seller who is local for me. Joel, my account rep from the company, took over corresponding with the guys from buying slightly used fitness equipment and I didn't get involved until I was told they're bringing the stuff at a particular date. That was excellent. Joel was very friendly and knowledgeable and even when I spoke to other people at Currency, they were very helpful and respectful of him and there was no bad mouthing. It came off like it was a family-type business which I also appreciate. They were really good with approval and payment schedules. When I call them up and they say they're gonna call back in an hour or two, they do.

What I also like about them is I didn't start paying until I received my equipment and approved it. That was really nice. When I leased equipment before, I had to pay two or three lease payments before it was sent out. We have a boxing gym and now have commercial-grade equipment for specific body parts that are beneficial towards boxing. So it gave me another dimension for my customers. I'm very satisfied. Currency Capital was able to take care of my situation which is hard to find nowadays.

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/