ClearcoReviews of clearbanc.com

I’ve taken funds from them on several occasions as it helped our cash flow and was worth the cost. Their transaction reporting is just shocking though and contains very little information. Furthermore their support is bordering on moronic in my opinion and unhelpful at best. Because of this I won’t ever be using them again and couldn’t recommend them. Edit: Re Clearbanc response - If you actually meant what you said in your response, then why am I still waiting for a competent and honest response from the support team?

A super efficient and extremely helpful team at ClearCo! This is by far the best service I have come across in 10 years of business for cashflow assistance. Thank you Team ClearCo!

Decided to write a review because I'm sure a lot of you are seeing the same sponsored ads that I am and there are people in the comments raving about their service...but when you visit that person's profile, it appears to, at minimum, be a spam account. So, after seeing numerous ads for this, I decided to apply. I am in the process of expanding and any "little" bit is helpful. Applied on 8/6 and after not hearing a response by 8/8, I decided to shoot an email. I found out that, even though the portal was telling me that my application was complete, it actually was not and that they needed 6 months worth of bank statements PLUS another document signature. Went ahead and sent it right over. Today (8/13), I was emailed and told that I would need to provide 2 additional bank statements, a screenshot of my current bank balance, and some context on the current drop in sales. Got everything over to them and within a few hours, I was advised that it was declined. No problem. But here's where it gets a bit funny to ME: They immediately went into a sales pitch on applying, instead, for the Angel portion of the funding that they offer. With it, you get $10k + for funding, but the FINE print says that they get 2% of your sales. Doesn't sound that bad, right? Well, when you speak to a customer service rep, they advise that they get 2% of your sales for FOUR YEARS, even if you completely pay off the funding. I see so many people on their facebook page advising that they met all qualifications but were denied anyway (same situation here). But privately, at least two people advised that they were also offered funding via the Angel option (which of course makes sense because who wouldn't want 2% of a companies daily sales for FOUR years, even after they've recouped what was "invested"). I'll tell ya what....before the pandemic, I NEVER considered business loans (outside of doing capital options with ecommerce platforms). But these companies are doing ANYTHING they can to take advantage of what's going on right now. I'm thankful that I have wonderful support surrounding me but baby if I absolutely NEEDED it, I know that I'd be robbed blind. Edited 12/15: ClearBanc is doing everything to try to get my review removed. But I stand 100% by what I said and will not be withdrawing the review. I had a real experience with their company and everybody needs to know. Edit (9/21/2021): I see that I received a reply that I am unable to respond to so I’ll just say my piece here. No, I will not be sending you all a private message with regards to this because for one, I did that when you sent an email (from Mark D Paola) asking for feedback and no response was provided then. Two, after speaking with two additional people, I found out that the funding you DO provide has major stipulations and that you routinely deny transactions based on that. You’re not given funds in your own bank account; you’re provided a “Clear Card” where you deposit the funds and YOU determine how they’re spent. Again, your company is trash. It’s absolutely abhorrent how much you’re taking advantage of business owners with your business model. You bank on either the fact that some folks simply don’t read OR their desperation because they know their business is in jeopardy. You also delete comments on your Instagram and Facebook that question the integrity of your company. So no, louis. I will not personally reach out to you for an issue that your company can’t resolve. You guys are absolute trash and I’m glad I do read and research.

Absolutely the worst company we have ever done business with. After submitting lots of documentation and connecting all of our accounts we were offered three different advances. We took the largest advance at 90k and started using their virtual card right away. We made two purchases and attempted several others only to be declined by the company saying that it was not an authorized purchase. A few days went by and the next thing we knew the card was taken away from us for no apparent reason. We then started receiving emails saying that they were going to debit our account for transactions that were appearing in our account. However upon further review we noticed that these transactions weren't even in our history at all. So of course we contacted them and let them know that hey these transactions are not ours and then that's when they contacted us and said they were having some kind of tech issue with our account. 4 weeks later we are still dealing with the same issue with no resolution. They also have said based upon our current information that they are only going to allow for a 12 to $15,000 advance even though we were advanced 90k in the beginning. We asked how this could be possible as we sent them multiple screenshots from bank account sources as well as our Bigcommerce platform selling our average 35 to 40,000 per month in Revenue. This company needs to get their act together because they clearly have no idea what they're doing. Also who gives you a loan and then takes the loan back and gives you stipulations as to how you can use the money. Don't waste your time you're better off just getting a traditional business loan or personal loan for that matter as their interest rate was 18% Payback on every single transaction.

I had some issues to start with for transferring money to an overseas vendor but this has since been sorted out thanks to my account manager based in Australia. It took longer than I would have liked but we got there in the end. It's a great concept once we got it sorted out, I like that they take a % of the sales you make and funds were able to be sent to my vendor within 2 days once we sorted initial issues out. Would continue to work with this bank as it's a great working capital alternative

Absolutely amazing service from Clearco. We were in the mud with our cash flow for marketing and needed some help. In less then 2 days from start to finish we had our funds. Clearco has given us our confidence back and we are now kicking the goals we wanted. Thank you, thank you, thank you!

The application is quick and easy. Once approved, Clearco gives you a virtual card to use for your business with the agreed credit. The dashboard is helpful, as you can see lots of data (repayments/money available etc.).

It's ok, legit for sure, basically a credit card advance. After a while though, after you see them take their cut off every sale, you tire of the whole thing. It's also a bit complicated to pay suppliers or use their credit card.