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ForwardLine is a data-driven FinTech company dedicated to improving the financial health of America’s small businesses. As an industry leader in direct lending, we strive to build long term, value-added relationships with small business owners that oftentimes are underserved by traditional banks
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Reviewed April 4, 2019
As other reviewers have noted, ForwardLine is happy to start off their business relationship with you under false pretenses. You're pre-approved for up to $150,000! Isn't that exciting? Here's a phony credit card to drive the point home! It's got your name on it and everything! Let's take your business to the next level! Woohoo!
**. This sort of misleading marketing is an obvious red flag for anyone who has dealt with predatory businesses in the past. I went online to "activate" my account, and guess what? It's a standard application for a loan, which you can get anywhere. These people are okay with lying to you in order to attract you to their site. What does that tell you about how they'll treat you once you sign on the dotted line? I will never know how they would have treated me, but some of the other reviews here provide some worrisome possibilities. No thanks.
The Platinum Business Account offer you received in the mail is an offer of business financing based upon information & specific requirements we received from a major credit bureau. Your business was pre-qualified for one of ForwardLine’s financing products. If you have any questions or concerns, please contact us.
Reviewed March 27, 2019
I received a letter from Forwardline.com. The first line said "Congratulations on your pre-approved Platinum Business Account." When I called and spoke with Molly, she admitted NOTHING was pre-approved! The letter even confirmed NO pre-approval in the tiny type on the back of the letter. So we were off to a bad start - the first thing they said to me was a LIE. Molly shrugged it off and said, "Oh it's just marketing."
There was a platinum-looking plastic credit card attached, which is actually not a credit card. Another marketing scam. When I asked for a range of Annual Percentage Rates on their loans, which is required by federal law disclosures, she would not answer me. She said, "We loan a specific amount, and you pay back a total amount." Well, it's easy enough to calculate the APR from that, but they won't disclose it. Illegal!!! Based on talking with other similar scam-sham loan companies, you will be paying 20-30% annually. Don't do it. Work with your local bank for a real loan.
We apologize that our mailing caused you confusion & concern. The Platinum Business Account offer you received in the mail is an offer of business financing based upon information & specific requirements we received from a major credit bureau. We offer fixed cost business loans and apologize for any misunderstanding that occurred when you discussed rates/costs with our team. If you have any questions, please contact us.
Reviewed Feb. 13, 2018
Dealing with Forwardline through the loan process was great!! However they do require you to use their credit card process services which was not a problem at the time, until you pay off and decide to move your processing. I cancelled this service on October 8, 2017...today is February 13, 2018 and they are still taking fees out of this account. I just spoke with "Lonnie **" who stated I did not return the cancellation letter until November 13, 2017 even though I have a sent email dated October 24, 2017 (which is the day she actually sent the request. It seems it’s a two weeks to process a cancellation). So since cancelling my services I have been charged $158.50 as of today's date for a closed account.
And the only explanation given as to why I was charged even after the November 13, 2017 (when she says she received the cancellation) except that it was too late for the monthly cutoff. Ok that was November and I am still being charged in February?? Really...NO I WOULD NOT RECOMMEND THIS COMPANY TO ANYONE since unfortunately you have to deal with their processing company and (as proven by bank statements) they will take your money simply because you don't want their services. Look for a different loan company. DO NOT USE FORWARDLINE.
We regret that Ever-Klear Pool Supply was disappointed in ForwardLine’s merchant processing services. We have contacted Ann directly and have refunded any fees charged after receipt of account closure request. Ann was appreciative of our reaching out and of the refund. At ForwardLine, we pride ourselves on excellent customer service and wish Ever-Klear Pool Supply continued business success.
Reviewed May 30, 2017
This company sent me out a "pre-approved" loan letter, with a card already printed with my name and business name on it. I assumed since I do have decent credit this was why I got this, so I went online to "activate" this great offer only to be denied. I will be bad mouthing this company on every single website and review I can find. I have all day, my company does well and I have plenty of money to SUE you ForwardLine. You just screwed yourself by sending ME that letter.
Reviewed April 2, 2017
So, I got a $33,000 business loan with this company in November 2016, and told them at the time that this would be a short-term loan for only a month. Chad **, who was the representative at the time told me the APR on the loan was 30%, and that if I paid it off in on month, I would get a 50% discount. Nothing could be further from the truth. They don't disclose their loan in APR, their loans are given for 30% (or very close to that rate)... If you pay the loan in one month, they would charge 30% (or nearly $9,000) for that period. IN APR terms, it would amount to about 360%. They are supposed to give a discount on that amount equivalent to 50% of that amount or nearly ($4500), if you pay off the loan within 75% remaining days of the loan. So for a one year loan, if you pay it off in one month (30 days), you would have remaining 330 days or 90% remaining days. (Are you with me so far)?
So, they had debited my account on a daily basis $175 for 15 business days (they don't debit on weekends). That amounts to $2,625.00 or 7% interest in nearly 3 weeks or 140%APR. So, at most they should have charged half of $9,000 or $4,500 - the $2625 $1825.00. Since they hadn't disclosed all of this to me at the time, they agreed to the $33,000, and immediately without justification sent the fully valid account, not in default to their collection debt collector, Jon **.
In March, when I applied to Capital One bank for a business loan, they referred me to Equifax Business Solutions, who told me Forward Line had reported my valid account as a charge off with $9,000 charged off. When I talked to Jon **, he emailed Forward Lines general Counsel, and a lady by the name of Molly ** inadvertently replied "all" an email which states: "the loan was not paid in full, rather it was settled for less than the amount contractually owed and therefore, the remainder was written off by Forward Line. This was not specifically reported to Equifax business by Forward Line, but part of an automatic report of all of our merchant accounts required by Equifax business services. The only way to correct it is to change our internal accounting system, which would be falsify what happened on the loan and that cannot be done."
The preceding was my personal experience, and I have tried to be as accurate as possible with my facts as possible. PLEASE PLEASE PLEASE DO NOT DO BUSINESS WITH THIS COMPANY. It is simply my opinion that they are extremely evil, awful people. They will do anything to make money, they will lie to you, hide facts from you, and burn you if they have to. The proof is right up here. Please be careful.
Reviewed July 14, 2016
Rude and obnoxiously. Didn't follow up on my applications and they didn't put in the time frame for the applications to be approved. The customer service representative was not paying attention to my concerns. Wrong info provided and the representative was Indian so they couldn't understand. The phone line that they used was a bad connection and the service was static and not well mannered. The rates was too high and I have an excellent credit score. They said that my credit score must be eight hundred or more to receive an two point nine interest rate. It was overall an terrible experience. The website keep going on and off and it took the pages too long to load and I have an fast internet connection that is over one hundred megabit per second. Terrible view on website and the website kept crashing.
Reviewed July 13, 2016
It was better than most. They clearly explained my options and the reasons I qualified for options. Very friendly and east to talk to. They worked me about paying the money back and made me feel like they really cared. It was long and sort of repetitive. Though they did everything in their power to give me a hand in filling out the paper work properly. Which made the whole thing that much easier. Terms were very straightforward. The rate was a little high but all in all okay. Plus the people really broke it down and showed me how much I would end up paying back. I usually went in to the business if I had to make payments or talk to someone. The few times I checked out their online options they seemed straightforward and easy to use.
Reviewed July 12, 2016
I had a very helpful experience. Their support team helped me every step of the way. They were influential in helping me make the right decisions for my business, and help me develop a strategy so I could implement those ideas. The application process was very simple and easy to use, and was not hard at all. They were very supportive in helping me process the application. Their rates and terms were very reasonable, and fit the needs of my business. Their practices are very fair and objective. They have very competitive rates that allow you to compare with other companies. The online tools they provide on their website are very helpful and useful. They helped me make decisions about my business structure that pointed me in the right direction.
Reviewed July 8, 2016
They were knowledgeable and answered the questions I had. They helped me to understand the various loans and what I was signing up for. The process was quick and easy. They were genuinely concerned with my experience and wanted to make sure I was happy. The forms were simple and easy to understand. There were various rates and terms to select. I chose a 10% rate for 3 years. It was nice to know that I could repay on my own terms and be treated fairly. They were very intuitive and laid out well. The site was clean and easy to navigate. The tools helped me to better understand the loan process.
Reviewed July 4, 2016
They were very helpful in helping me try to get a business loan with filling out forms and tax records. They were helpful in doing projections for total sales, etc. The application was the way government programs go -- lots of paperwork, very long, and make you want to pull your hair out. Sending paperwork, and waiting for them to review it and ask for more things. The rates and terms were OK. I think they were very reasonable. It is just that there are a lot of strings attached. I think they are much better rates than in the private banking world. Their online tools are helpful but I had much more luck working direct with people in the field offices. I'm kind of old school so like that way better.
Reviewed July 3, 2016
They were informative and helpful. Answered all questions. I asked them if I would qualify and they were very upfront with the response. I would definitely recommend this company to my friends and family. If I ever needed a another business loan in the future I would only want to go through them. The application process was simple and easy to understand. He informed me about what I needed and I filled in some simple information about my company and went from there.
The rate and terms were pretty reasonable for a loan place. I assumed I would have to jump through hoops to get a loan but they make it very simple and easy. The online website is easy to navigate. It simple and I can read it very well. I do not have any real complaints about it. It was visually appealing and I was able to navigate the site well. I would recommend bigger writing for clients who do not have great eyesight and may have a hard time reading the site buttons but besides that everything was nice including the design and layout of the website.
Reviewed June 26, 2016
My experience was wonderful. The staff at the company were very helpful and explained the terms of my loan very thoroughly. They also did their best to get me the best rate possible. The application process was very easy. The bankers made it easy and the paperwork was simple and easy to follow. It was great working alongside the bakers to fill it out. The raises and terms were very reasonable. The online a tools were great. They helped making my monthly payments easy. Thanks you to the company for having such great resources!
Reviewed June 25, 2016
They were very helpful and allows me to show them my plans. I was able to show them a play by play of what I have in store for my future business. The application process was tedious and they asked a lot of questions. They were extremely curious of all of my plans. They worked with me well when I had questions. Their rates were high but as a business loan is very hard to come by in my experience especially with what kind of business I wish to operate. Some would say it's risky with the market. The online tools were extremely useful and were very easy to use. I consider myself technology advanced and I thought it was very simple.
ForwardLine Company Information
- Company Name:
- Company Type:
- Year Founded:
- 5161 Lankershim Blvd., Ste. 250
- North Hollywood
- Postal Code:
- United States
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