This Business is not BBB Accredited
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Lease Finance Group is not BBB Accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that lowered Lease Finance Group's rating include:
- 599 complaints filed against business
- Failure to respond to 39 complaints filed against business.
- 30 complaints filed against business that were not resolved.
- Overall complaint history with BBB.
- Government action(s) against business.
- Length of time business has taken to resolve complaint(s).
Customer Complaints SummaryRead complaint details
|Complaint Type||Total Closed Complaints|
|Advertising / Sales Issues||69|
|Billing / Collection Issues||227|
|Problems with Product / Service||301|
|Guarantee / Warranty Issues||0|
|Total Closed Complaints||599|
Customer Reviews Summary Read customer reviews
2 Customer Reviews Customer Reviews on Lease Finance Group
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||2 Customer Reviews|
According to the company, their leases are considered commercial debt.BBB file opened: 09/01/2004Business started: 01/08/1992
Contact InformationPrincipal: GCN Investors
Leasing Service, Financial Services
Products & Services
Lease Finance Group, LLC is a Chicago-based lease finance company specializing in the origination and servicing of micro-ticket leases, primarily for small and medium sized businesses. The company's equipment leases are primarily for point-of sale (POS) terminals, which retail and service merchants use to communicated VISA, MasterCard, AMEX, Discover and other credit/debit card purchases to a credit card processing bank.
The company's customers are retail businesses such as restaurants, stores, and other business establishments- the company does not market or sell any of its products or services to individual consumers. Per Lease Finance, the equipment covered under the company's lease agreements has no consumer use.
The financing arrangement between LFG and its lessees is in the form of a Commercial Non-Cancelable Equipment lease agreement ("lease agreement").
In the course of financing the equipment specifically selected for use by the lessee, LFG relies on a non-agent, third-party vendor (also referred to as vendor or independent sales organization ("ISO")) to procure, install, and service the equipment for the lessee. LFG leases this equipment on an "as is" basis, and the ISO itself is responsible for servicing the equipment and should handle all requests regarding equipment service issues.
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