CIVIC Financial Services
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Unreliable Business Partners
It’d be unfair to criticize any organization today, without a reasonable sense of understanding. This market impacted by COVID-19 is undoubtedly uncharted waters for everyone. During this tumultuous time however, Civic should not be remembered as a leader. My borrowers and myself are shocked with Civic Financial’s poor reactionary procedures which were put in place during this crisis. Procedures that ultimately mislead their partner brokers and clients when they needed it most. They were the first of just a few lenders to announce that their lending capacity, would ultimately remain available , throughout-out a market impacted by COVID-19. I wish I would’ve known the entire truth to such a statement. In the course of a week since the announcement, Civic has completely changed the loan structure in regards to pricing and LTV, for loans that were already underwritten. I understand increasing the pricing for all new loans going forward, but to alter deals already underwritten and in the process of closing is unacceptable. Civic has let it be known that these changes will be made with no exceptions, even by case to case basis (for repeat clients). If you have an immediate need for capital during this time. Im implore you to look elsewhere for a reliable and honest lending partner.