Lendio

I wanted to write a review, because I’ve seen many negative ones appearing for Lendio’s 2021 customer service performance. These reviews seem to be written mainly by people who have been frustrated with the lack of personal attention, general procedural opacity, and inability to reach their loan representatives by phone.

I recently logged into the Lendio portal to check my PPP application status. I had been previously approved and was told so with a PLP and SBA number. However, this time I logged in it had said my application was only sixty percent completed. Confused, I filled out the small green form at the bottom of the page to have someone contact me about this. Within maybe ten minutes a gentleman named Cody ** called me. He informed me that everything was okay and that I should not concern myself with what I saw. He also informed me that I should upload an additional form for faster processing. I was amazed as he sat on the phone with me while I downloaded my tax returns and helped me through the entire process of uploading a single file to my account.

Mr. Russell ** from Lendio was not only able to help our company attain the PPP loan during this very scary economic time, but he made the experience less stressful and confusing. Mr. ** was professional and went the extra mile by helping us every step of the way and with the patience and hard work a person in my position could only wish for. I had asked around and attempted to work with other banks and companies, but found out very very quickly I was just a number in a long line of others attempting to get the same funding. Mr. ** actually took the time to know my name and the name of my company while others had not. In the end this is a relationship my company will keep if and when any further funding is ever needed. Thank you from our company and the employees who will soon return to work. Thank you and again Thank You.

When the CARES Act was signed, I was the finance professional in charge of securing a PPP loan for our company. It quickly became apparent that local banks weren't equipped to handle the massive volume of applicants or had the speed required to get approvals before the funds ran dry. The bigger banks didn't want to consume resources to process PPP loans for new customers so many small businesses were stuck with the slower, less equipped smaller banks. I submitted an application to our bank. Days went by and I didn't hear anything back. Our bank was experiencing a massive amount of phone calls about the PPP loans and I never got a call back.

I am a Business owner who like so many small businesses, are struggling through this crisis we find upon us. For whatever reason whether it be no more money or not in time to receive the first bailout, our employees are in dire straights for an opportunity to feed their Families. We cannot keep them if I cannot pay them. I received an email from a gentleman who I now call my Hero! His name is Taylor ** and a loan officer from Lendio trying to help all he can so that when the second round of funding is released then he would have a part in saving my business. He walked me through the steps via computer and if I may say, took much patience on his part as I'm not the best. As busy and overwhelmed as he was trying to help others, he made time for me.

I have requested for this Lender to "CANCEL" my PPP loan with them and they have failed to do so. On April 16 I log onto the Lendio site to cancel my PPP app because I no longer wanted to do business with Lendio due to their unprofessionalism and I was unable via their site to cancel my app. So I called in for the supervisor by the name of "Philip **" but he was Unavailable so a rep by the name of "Michelle" answered the phone and stated that she will send Mr. ** an email regarding the cancellation, but I have yet to hear back from Philip ** or from Lendio regarding my request to CANCEL. I decided to CANCEL because the level of customer service experience with this company has been very unprofessional and exhausting. All I am asking is for the company to please cancel my App and send me confirmation to my email showing that my App has been canceled.

We applied for a PPP loan on Mar 16, 2021. Today is Apr 7, 2021 (3 weeks later). We have received only one communication on status from Lendio in 3 weeks, so I logged into our portal today to ask customer service in the chat window. The representative said that our application was under review, then when I asked about expected timeline, 23 minutes later the rep came back and said the application had been rejected.

I WISH I COULD GIVE 0 STARS. FIRSTLY, My original funding manger Ebony ** ignored me for 27 days straight, she refused to answer even when her status was marked as "Online and available". I tried calling, texting and emailing and every time I was ignored, my calls were silenced as I was pushed aside as if I didn't even matter. After my application was marked as Approved and I obtained a PPP number my application sat for another 20 days without any updates so I reached out and had my funding manager switched. Now my current funding manager started off great with her communication but after the first day she no longer responds to texts, calls or emails. Lendio outright REFUSES to withdraw my application and Lendio outright REFUSES to disburse my funds.

TL;DR: STAY AWAY FROM THIS COMPANY. I've been passed around to about 7 different agents since I started my PPP loan application almost 6 months ago. Nobody knows what they're doing generally, and nobody within Lendio knows what other Lendio agents are doing - they just keep passing the blame from department to department. I received an email from a "Catherine **" a few days ago saying that I needed to provide additional documentation, but hasn't responded to my requests for clarity on what exactly she needs. I was also ghosted by 5 agents before her - one especially annoying interaction was with an "Eva **" who assured me she would handle my case personally. After our initial call, she fell off the face of the planet. ZERO ACCOUNTABILITY AND ABSOLUTELY TERRIBLE CUSTOMER SERVICE.

If you are reading this and thinking of using Lendio please keep in mind two things: