bmae

Jul 28, 2021

Do NOT use this company!

This review is a copy and paste (from a post that I completed on a forum), but figured I'd share it here. Do NOT do business with Swift Capital/LoanBuilder. The way they handle things is absolutely SHADY and I'm definitely taking it as far as I can, not due to a denial but on the way they handled this case for me, as a consumer. And please, Swift, do NOT respond and say that you "dont have anyone with a loan under this name" b/c this is OBVIOUSLY a user name. Unfortunately, it won't allow to copy and paste on this site. So I'll give a timeline instead. • 7/21 (wee hours of the morning) applied for a loan with LoanBuilder/Swift Financial. I received an email a few hours later asking me to upload copies of my bank statements (from August 2020 to June 2021), landlord reference, vendor reference, and an IRS 8821 form. I sent all that they requested. • 7/22 a rep by the name of Gregory Fedak emailed me and asked me to complete the copy of the 8821 that he sent, stating that it would be "easier" to ensure that I don't have to jump through hoops by using theirs. Immediately completed it and sent it back. A few hours after sending the copy, I sent another email to Mr. Fedak asking that he confirm receipt of my 8821 form. • 7/26 I received another email from Gregory Fedak stating that after going through my bank statements, they realized I had a loan with Shopify and with Square and they wanted to see the balances for both. Even though the Square loan was for a business completely unrelated to the one that I was applying for, I went ahead and sent the information as requested. • a few hours after sending that off, I logged into the portal and realized that nothing showed in the "summary" portion of the site. It was almost as though I had never applied at all. I figured that it was some sort of glitch and decided to wait a few hours. I checked again on 7/27 and it was completely gone. • I sent an email, only assuming I had been denied (and was fine with that). My issue was that they weren't more professional in providing me with a formal letter (be it in the portal or otherwise) advising of this. I was told by Gregory Fedak that they would get back to me via email within 24-48 hours of receiving my balances from the other capital loans. In that email to Gregory Fedak, I cc'ed a few of the higher ups from Swift/LoanBuilder. • a couple hours later, I receive an email stating that they "tried" to send me the denial on 7/21 but "here is a copy." How is it that you sent me a letter on 7/21 but still asked for information from me on 7/26? I truly believe that they stated that they sent this to cover themselves for simply removing things from the portal and not giving me a denial as they normally would via email as well as a physical letter. I even sent them attachments showing that Gregory Fedak was still asking for information for underwriting, but if I was denied on the day that I applied, what are you still asking for information for? Again, I can deal with a denial. I know factually that it wasn't because of my score; I barely have any credit (and the response indicated that it was because of the capital loans I have with other companies). I'm confirming several other reviews posted here that state that they got absolutely NOTHING from them stating that there was a denial or even a reason for the denial, and as consumers, we have a RIGHT to that. I also found it to be a bit weird that they asked me for documentation that they didn't ask others for. I feel that they could've possibly gone to my site, saw the TYPE of people that I service, and offered a denial because of that. There was NO other reason for denial because those balances on my capital loans are low and wouldn't even add up to the amount that I was requesting (which by the way....I requested $10,000. Out of nowhere, they switched the amount to $7,500. They did not offer me an explanation for this either). Again, BEWARE! •