About SmartBiz Loans
SmartBiz Loans is the #1 online marketplace for SBA loans, providing the right loan at the right time for your small business. SBA loans from SmartBiz marketplace banks can be used for debt refinance, working capital, and commercial real estate purchases or refinance. About 90% of the applications referred to SmartBiz marketplace banks are approved. With low-rates, long terms, and very low monthly payments, SBA loans are known as the “gold standard” and help businesses across America expand and save money.
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Weeks have gone by with them pretending to be evaluating my PPP loan application. This company only wants high dollar loans, so if you're an actual small biz, these guys aren't interested. Terrible customer service, and now my company is at greater risk of failure because of the time wasted with Womply and Smallbizloans.
I dealt with Kabbage and they referred me to SmartBiz. My information has been pre-recorded by Kabbage so when I started doing business with SmartBiz, everything has been pre-filled and I just had to do a few modifications. Everything went smooth. It was pretty much a mindless transaction and it was seamless and pain-free.
Smartbiz went over everybody. They work really fast. They were awesome and they killed it. Hopefully they can rock out the loan forgiveness thing because my first one was with Paypal and it was so bad. I'm very happy with SmartBiz. It's amazing.
The website was very easy to use. I uploaded my documents and everything went through. Then, they kept in touch through emails. Everything went really smooth.
I did everything completely online and it was drama-free, quick, and painless. SmartBiz didn't take me through a whole lot of changes and there were no unnecessary questions. The whole process took about two weeks from the date I put in the application to the moment that I had money in my bank account. They did great. I highly recommend them.
There is no communication. You can send emails and get a "canned" response. We will never use them again. The phone number is useless. When they want you to do business with them there is no limit to them contacting you.
No way to check status of application #**. Has been stuck in Smartbiz review for more than two weeks. What is going on? No way to cancel. Don't know if I should try another lender because if you have too many applications out there you might be denied because of more than one application. Latest email was to verify application. Smartbiz what is the next step. The time it it taking I may not be able to get this one or a second draw because I don't know what's happening with this one.
I did the PPP with SmartBiz. It helped to move my business forward. The loan process was not too bad. It’s just some documents take a little while. Uploading the documents was good. If I have questions, the reps answer me. If you have questions, you can email and they call, and you get the answer. You can also go to their website. SmartBiz is a good one. Try it out.
After 3 weeks, the company sent my all documents to sign. :)
I started my application in March 5 2021. During two weeks I received follow up on my application status by email. The last update mentioned that the bank is reviewing it. However, it is getting close to the deadline and I haven't got any more information. I sent several emails and they haven't responded. And there is no time for a Plan B if Smartbiz doesn't communicate. You cannot apply twice.
We thank you for your business and wish you the best.
I applied for a PPP loan on March 8, 2021. Application was completed 100%. At first they would send emails stating the application was under review. Then on March 17, 2021 receive email stating "Your application is in the final stage of review with the lender. Our lender is verifying that all SBA requirements have been met. At this time we do not expect to require any further details from you." Since then I have sent several emails and never received any replies. This is my 2nd PPP loan. The first only took 7 days to receive funds. Biz owners should be treated with respect, communication is important in any business transaction.
When a company refuses to communicate we have serious issues with management within the company. Excuse don't work for biz owners especially when you're saying the same thing for months (not enough employees). California has plenty of unemployed workers looking for jobs. If you're consumed with so much business that is a good thing it means you're making $. Respect your clients and communicate with them. Sometimes we need to stay late and work for our clients. You should do the same for yours because this could cause further damage to your company. This is 2021. Social media can make or break your company. Have some integrity for your customers. If management has failed get rid of them before you no longer have a company. I have read 100's of bad reviews about your company and they all say the same thing. NO COMMUNICATION!
Remember March 31, 2021 all funding ends with SBA. If your application has already been submitted there isn't enough time to go elsewhere. SBA will be investigating your company for reasons why so many business were never funded and lawyers are all ready talking about class action. Not good for any business. Reply to your clients and they may become future clients. I'm hoping for the best for your company, lets get to work!
How is this company allowed to get away with this false advertising... DON'T WASTE YOUR TIME. You’ll never get a response. I submitted app 2/17/21. Say I was pre approved and will receive information in 2-3 weeks. Well today is 3/23/21 and I haven’t heard a word. I sent emails no response, I call no live person to talk to, aNd my application say the same thing it said it the begin... This experience is very frustrating so please don’t waste your time and make the same mistake I and others made????
I applied for a PPP loan about 3 weeks ago and have received generic emails. I have now gone with a local lender, due to no responses to my emails. I have tried to call, but then I am directed to email them. I realize this is a busy time, but don't these people want to develop a great reputation for helping people. I am currently waiting for a response for them to stop the PPP loan process with no response yet. The process took 3 hours and considerably less time with a bank. Don't go with these people for a loan...they obviously don't care about helping people.
I applied for loan. It wasn’t a huge amount as I am a sole proprietor. I emailed for status and no response. Was told it should only take approximately 7 days to process. After reading other reviews, it sounds like it’s more the norm. I never write negative reviews, prefer to give good ones. Will change mine and keep updated if this changes.
I applied for a PPP loan on March 5th once the new rules for independent contractors went into effect. I was directed by Womply to use Smartbiz. I immediately submitted all my documents and completed the application. For over 2 weeks I have been in "Review " status. Time is running out to be approved. I have not even been assigned an advisor or had a single response to any questions. It was suggested to me by my bank I withdraw my application and reapply. Nope, can't do that neither since no one will respond. Now I am afraid to change lending services because of all of the delays. Other friends have applied with other lenders and have already received funding. They were not organized or as response as I am. I would like some answers but it doesn't look like that's happening. All I have received is automated emails with no answers except they are busy.. I am considering reporting Smartbiz to the BBB, SBA, and the Attorney General.
SmartBiz Loans has their thing together a little better than the others. The structure was very easy to navigate through and applying to them was great. The only bump in the road has been with my second round. I still haven't heard from anyone about that. They were stating that I had applied through another lender and that I needed to cancel my application with them, but I never applied with anyone else. So, it's holding my second round and it’s frustrating. But other than that, it's been fine. Working with them has helped with the business.
I started with another lender for the PPP first draw. Great customer service and quickly processed and funded the first draw. Since then, I have applied for the second draw with another website that forwarded me to SmartBiz. Application was also easy but didn't ask for key items that I provided for the 1st draw which gave me pause but still I proceeded.
This has to be the worst customer service experience EVER. I have experienced EXACTLY what others have said here: NO ANSWERS, only auto respond, canned emails. Also advised from SmartBiz that multiple applications exist. I desperately replied to these emails that no other applications exist and get no response. I can't find a place to withdraw my application so that I can move on with another company. What I have learned is that if you have received your first draw in 2021, then you may not be able to proceed with a second draw because SBA doesn't recognize the loan number and they (SBA) are changing the rules on almost a daily basis. I have been among the sole proprietors to learn that I could apply and receive funds but maybe too late to receive the second draw which I could really use. Good Luck!
We applied on February 28th through our POS system, Clover. They matched us with SmartBiz so we went through them. The first few days we got automated emails stating that they were processing the loan but since the last 10 days we haven’t got any updates. We didn’t get any replies from the numerous emails we sent. They totally ghosted us. We are two weeks away from the deadline and we have no update and our application online shows that it hasn’t moved. Very disappointing. I will make sure that Clover is aware of whom they match their customers with.
This is my first time doing the PPP and I was referred to Smartbiz by Womply in Feb. it is now the middle of March. I have contacted two people and customer service 8 times. I got one answer. My relationship manager doesn’t respond at all. I got an email on March 5th stating my funding have been processed to my account. After a week, my application was reverted but to the final stage. No one is getting back to me. I have questions. They have turned off their phones at the company. I do not recommend going through small biz loans. The company needs to be shut down. I feel like it’s a scam. Especially when they don’t even respond to you. I could lost my business because of Smartbiz loans.
I got a payroll protection loan through SmartBiz. It went through the bank, and I had an email saying that it was pre-approved, and then it was approved. It was fairly easy and quick to get the loan. It paid my payroll when we weren't working.
I applied on 02/02/2021. Signed loan documents and was supposed to gotten funded but didn't. I was told that a mistake on their end caused the plp number they gave me to expire. So now they continue to ignore me.
I had the opportunity with SmartBiz to fill out the application to apply for the PP loan and I did. The reps reached out to me immediately. They were on top of things and got stuff done. Sometimes, it was after hours after they were done with the office. They tried to gather all the information that they needed to get my loan to funding. They were very professional. They told me exactly which documents I needed to get my loan approved the fastest way possible.
My business got affected by the COVID-19 and I got a PPP loan from SmartBiz. The total process took less than 10 minutes. On their website, it gives you a range of how much you're trying to borrow. I thought the range could go under 10,000, but it would not let me. It's saying that I’m trying to plan for 10,000 amount. I'm not. So, I hope that doesn’t affect my application moving forward. I called the 1-800 number to ask about it but there was nobody for me to speak to.
We were behind on paying my bills so I went with the PPP. The loan helped me to get back in shape in business and get some inventory.
I usually go to my main back and then they recommend which way I should go. They linked me through SmartBiz but I had dealt with SmartBiz before this experience. They told me what to expect and they helped me get me what I needed. I did an SBA loan. They kept me updated every bit of the way. So, I didn't have any problems with them. They sent me emails and told me every stage of the way, what process was in and what to expect next. The process went according to how I expected it to go. Uploading the documents was easy. We had the email address, and we just scanned them up and it's easier to scan now as it is to fax. The representatives were super nice. Working with SmartBiz helped me business-wise.
I applied 8 weeks ago. This is my second PPP draw, clearly I should have stuck with my original lender. I've emailed half dozen times to get generic responses that don't answer my questions each time. The loan (#**) is just sitting in the 'review by our team' status. One email response claimed she was getting a 'processor' on the loan but here it is 11 days after her email and zero movement. I'm going to be reporting to the SBA and BBB as I feel this company is ripping off a lot of people and encouraging more to apply when they haven't even funded the ones that applied first!
I applied in mid January for a first draw PPP loan thru SmartBiz, and their application process online seemed very easy and was not long and drawn out, so I had it completed quickly. However, since then I have received ONE non-generic, Non-automated response to the MANY emails I have sent inquiring about the status of my loan. All the rest on my multiple attempts to actually speak to a live person have been ignored. They don't let you get thru via phone and they don't respond to emails no matter how many you send or who at their office you include in copy.
It is now March 4th and I still am clueless about the status of my application and their generic "still in review" answer is not acceptable after this long of a Time goes by as I know for a fact the SBA has guidelines as to how long this process is supposed to take and I also see that there are reviews from other people who applied way after I did who have already been funded which makes zero sense to me!
So why can't I even get a legitimate answer as to what's going on with my application?? This is horrible customer service. The communication is non-existent outside of the couple of generic automated replies that I've gotten to my emails occasionally which have nothing to do with my specific loan. They're just a generic automated reply that they send out which is not acceptable. I also am not going to accept some bogus answer about them having to hire more staff when they should have known already what they were going to need being that this is not the first go-around with the PPP loans so being unprepared is also inexcusable in my opinion.
I need someone from Smart biz to respond to me and tell me exactly what steps they have taken so far on my loan because I'm not accepting this still in review nonsense after almost two months of waiting. In fact, if I don't get some answers pretty soon I am getting ready to reach out to the SBA myself to tell them about this problem because at this point I don't know what else to do since I can't get anyone to respond from Smart biz no matter how many emails I send.
Unable to reach a human. Received an email stating that I already had a PLP loan request and will not be able to move forward with my application unless I contact the other lender and cancel the PLP #. I sent an email to them stating I never applied with any other lenders for my 2nd round of PPP. Never received any sort of response to those emails, just automated emails stating that my loan application is still in process. I'm guessing that they are still moving forward with the application again but I have not a clue because there is no way to reach anyone at this company and they just keep sending these automated emails and not responding to my emails I'm sending them. Not satisfied at all with the customer service.
Your application was withdrawn because the Small Business Administration’s (SBA) advised another lender submitted a PLP loan application on your behalf and secured a PLP (Preferred Lender Program) approval number.
If you’d like to dispute that, please contact the SBA directly, since we do not receive any information from the SBA about who the lender is that submitted your PPP loan application, just that they will not process the application you submitted through us.
I applied for a PPP loan on 2/9. I was told that my application was pre-approved and would be reviewed and submitted within a week. It is now a month later with zero updates or communication from SmartBiz. They have no phone number, so I had to email them. After a few days, someone responded claiming that magically my application had just been fully approved and I would be getting the docs to sign in a couple days. After a week with again no change, I emailed again, this time the person acknowledged that there actually hadn't been a change since it was first submitted a month ago! She flat out lied. I highly recommend you use a different lender if you actually want to get a PPP loan before the funds run out.
Jan 12th I submitted a PPP loan with SmartBiz. I completed all the steps. I reach out to Mrs. ** after a few weeks about loan status. On Jan 26th she said
(Now you will wait for the SBA/bank approval) fast forward to Feb 19th. (Unfortunately, your application failed a bank required identity validation. As a result, we are unable to proceed with your application. There is no additional information we can provide about the fail.) I haven’t back since.
My SmartBiz loan application was submitted on 1/11/2021. On 2/24/2021 I received an email stating my loan was funded. When I logged into the portal on that day it showed my loan funded. I had not received any funds, no sba loan number or any contact from a lender. On the following day the online portal showed my loan reverted back to a in process status. I attempted to call and email to at least get a copy of the signed loan application. I have gotten no response or communication from smart biz. I also have not been assigned an account manager. This process is nerve wracking. I’m not sure if there was an issue with funding, if my application needs something more..or what. Highly disappointed
SmartBiz Loans Company Information
- Social media:
- Company Name:
- SmartBiz Loans
- Year Founded:
- 417 Montgomery Street
- San Francisco
- Postal Code:
- United States