KapitusReviews of kapitus.com

It's been a week and I still don't have funds in my account.

Definitely a predatory lender. They do everything possible to have you not do the math to calculate the APR. Let me save you the trouble it is 48% (yes forty-eight percent). Your credit cards are going to be cheaper. This was with credit scores >800 (excellent) and a over a decade of having been in business with no debt. After we rejected their offer it is obvious they sold our info to over a dozen other companies. This is definitely last-resort financing.

I found your practice of loan rate presentation to be unethical. I was told that I was being approved for a loan at 15% APR. When I received the agreement, it showed a daily compounded rate, which equated to a 26.9% APR. Because you require weekly payments, the effective interest rate will be 15%, but that should be explained up front. The interest rate that I'm laying on this loan is unacceptably high and I would never have accepted it, if I had foreknowledge of your tactics. I needed funds in a crunch and had already wasted time apply with Kapitus under false pretenses. Unfortunately, after i discovered your tactics, I didn't have sufficient time to apply with a different company. I will not be using Kapitus again.

The experience was relatively smooth. I was forwarded from a 3rd party. But once I was connected to Damian and the relationship was established things smoothed out. He was quite responsive and took time to explain things to me. Update Oct 1st: I requested a short deferment and they refused to consider the request. Selling/onboarding is easy. But taking care of your customers is more important. Update Oct 17th: The loan agreement including them paying off another loan. They failed to pay it off while that loan was in deferment. I'm now paying both loans.

I had a very good experience with Kapitus until I got ready to pay off the loan.. I discussed in length when I got the loan about early payoff. I knew I would do my best to pay off the loan early. After 8-9 mts I got a consolidated loan to pay off loans including this loan. In the payoff letter that took 1 week to get I saw this note stating: "If payoff amount is received from a third party the early repayment discount is deemed inapplicable" so in other words the reduction of interest of over 5000.00 I still had to pay. Once you pay off any loan in any way this should be illegal. I went back and looked at my loan documents it was in there but was never discussed with the loan officer. (who would not return any email) With is in the document it should have been discussed and pointed out by the loan officer, due to my concern over this during the loan process. Also I had to have the payment wired due to they would not accept a mail payment.

It was easy, but the loan is VERY expensive!

We have repaid 8 fundings with Strategic Funding over the last number of years. In the early days, it was a wonderful experience. Underwriting was very supportive, the staff was customer focused, very responsive, and the accounting was accurate.It was easy to get things done and people like Roland and Shantal bent over backwards to support and assist their customers. That all changed last in May of 2015 and progressively got worse through the completion of repayment of my last funding last week. It has been a nightmare. Underwriting renegs on signed contracts for funding. Accounting shows returned debits that were in fact paid. Planned closings are postpone, then postponed again, and then evaporate. Strange people from customer service call you up and threaten you via email and phone with a complete lack of respect or courtesy. What was once a great experience for a customer is no longer. I hope Strategic Funding can get back to where they were. Customers like me really miss the leadership, support and courtesy that was extended to us.