LenCredReviews of lencred.com

Response from LenCredSep 30, 2021

This is a difficult review to read for a variety of reasons. We always hate it when we have valued clients who are unhappy. It’s not at all what any company wants. In our 14 years of business we’re always looking to find ways to improve the client experience so unfortunate situations like this are a real blow to our team. In that sense we’re very appreciative that the vast majority of our reviews here on Trustpilot and on other platforms are 4 and 5 stars. As of this writing we are currently serving 1,304 active clients every month and we are passionate about what we do so we certainly would like to respond. A few things we would like to comment on. First of all, we had to do some research to find who we “think” this review is from. Since Brandon does not mention or give his last name we had to track down the Brandon in our system who this most likely is. I say that because we not only have numerous clients who we are currently serving with the name Brandon but we have an established process that our team follows whenever a client is unhappy and none of our clients named Brandon have ever told us they were unhappy and went through any kind of a grievance process with us. About 3-4% of our clients do go through that process and approx. 80-90% of the time we get the issue resolved with them quickly. This rep who Brandon claims was not knowledgeable has been with us for over 7 years and ON MANY OCCASIONS he’s been praised by our network of sales reps who he has trained over the years. He’s very widely regarded as being the exact opposite of Brandon’s claim. We don’t want to discount Brandon’s feelings or frustrations but when someone takes a swing at a really good person who is also extremely knowledgeable we at least want to defend our people. He’s a top notch professional according to scores and scores of his clients and people he’s trained over the years plus he’s a very invaluable member of our team who we love dearly. As far as not being a lender…amen to that. We never have been a lender and definitely DO NOT want to be a lender. There’s a reason why the Federal Reserve says that most businesses don’t get all the funding they are looking for when they need financing. It’s not easy to get business financing. If it was then we’d all be getting approved and we wouldn’t need technology and people and training and the many other things needed to be successful in our funding efforts. Oh how awesome it would be if we could all just go to the bank and get the funding we want at the terms we would like. We also agree with Brandon that there’s no “secrets” here at LenCred in terms of the information we have access to. There are national lenders, regional lenders, local lenders, credit unions, Fintechs, etc etc etc. We live in the internet age so most of the info is out there. We do, however, have very proprietary technology that we have a development team working on every day to help us better serve our clients and to bring more value to them. Brandon may not have had a chance to get the yield on that (which I can also comment on) proprietary technology but it’s been at work for several years and continues to get better and better all the time. That’s how software works. It usually stinks at first when you roll it out. I know our different pieces of tech were pretty subpar in version 1 when we rolled them out but now years later it’s pretty robust and that user feedback and data collection along the way is what helps the dev team make things better and better. Brandon stated that we charge an 8% origination fee which is 100% FALSE. We do not like that model and we don’t know why he made that claim. It is false. We do recommend a company that is VC-funded and who helps clients who want to pay people who don’t accept credit cards with their 0% business credit cards. Brandon says that sounds shady. The company is great, they have assisted thousands of clients, it’s a valuable service. They are real, located out in Silicon Valley and they do great work. We’re not sure why that’s shady but we will absolutely continue to work with them as their service is valuable…and quite popular as well. He mentioned that we are just a credit card sales agency. There’s a popular part of our technology that assists people with more efficiently acquiring unsecured financing (credit cards are a form of unsecured financing) but since we are not the lender we can get our clients as much money as quickly as THEIR qualifications allow. So when someone may not be ready for things like SBA loans we can use our technology to help them get the lowest cost money possible and avoid some of the high-cost borrowing that’s out there in the marketplace. Brandon mentioned someone who worked with him who left the company. Over the course of the 12 months since Brandon’s engagement there are 7 different people with notes about their communication with Brandon in our CRM. 6 of those 7 people are still with us and the one who is not still employed by us has applied to come back to work with us but she also was not in the business credit consulting position so that comment puzzles us a little. We have great people and very low turnover. As a fast growing company with proprietary technology, genuine relationships, and a cool, fun working environment we don’t have a lot of turnover. Regarding his other comment about his credit we certainly will not provide any detailed information but in our system we have done 16 soft credit pulls with FICO scores for his credit during his last year of working with us. We do not have any scores as high as he has claimed and all but 2 of them in our system are below the national average for FICO scores but that doesn’t deter us. We have technology that can help him and most others with credit concerns. Again, we can get people as much money as fast as possible based on THEIR qualifications. Brandon is no different. Lastly, I think it’s important to note one more thing. We did have an initial round of funding that didn’t go as well as Brandon or we had hoped it would go. Honestly, that happens. Then in the next 4 months we had 8 appointments and scheduled calls that Brandon did not show up for and where our team was unable to continue to assist him. Then, after that, we assigned two people to reach out to Brandon and to continue to make an effort to reach him so we could continue with our plan. After their 3rd attempt (10 weeks later) we did finally get a response from Brandon. Let’s hope that despite his frustration he’ll allow us to continue our work. We are here and we can hit his curveball just like we’ve had to with many other clients

Response from LenCredJul 25, 2018

6/25/2018 (Update) It has been well over a year now and Stacie has still refused attempts by LenCred and Trustpilot reaffirming that this review has no validity. Stacie has violated Trustpilots User Guideline for months now. We hope someday Stacie is able to reach out to us and Trustpilot to correct this injustice. 1/272017 (Update) Upon further review by our support team we have come to the conclusion that this review violates article 1 of the TrustPilot User Guidelines, "you have purchased a product or service from a company." After multiple attempts by our support team, Stacie, refused our attempts to speak with her by both LenCred and TrustPilot. At this time we must conclude that this review is void and invalid. We wish Stacie all the success in her adventures and we look forward to the day we do get to do business with her. (1/16/2017) Stacie, we want to apologize for any inconvenience in your attempt to obtain funding for your small business. We are having our support team look into the situation stated above. We look forward to the conversation you have with our support team and the opportunity to help in anyway possible.