BBB Business Review

BBB Accredited Business since 03/18/2010

Cresco Capital, Inc.

(866) 512-5685200 Owen Parkway Cir, Carter LakeIA 51510-1500

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BBB Accreditation

A BBB Accredited Business since 03/18/2010

BBB has determined that Cresco Capital, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that lowered Cresco Capital, Inc.'s rating include:

  • 6 complaints filed against business

Factors that raised Cresco Capital, Inc.'s rating include:

  • Length of time business has been operating.
  • Response to 6 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

6 complaints closed with BBB in last 3 years | 3 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues1
Billing / Collection Issues2
Problems with Product / Service3
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 6

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Cresco Capital, Inc.

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (6)
02/02/2016Billing / Collection Issues | Read Complaint Details

Took a payment that was not authorized!
I attempted to contact my account manager to move truck payment. Left messages. No return call. This put me in a very bad situation where I didn't have the money to get my truck out of the shop. Very poor service. Don't recommend anyone to use this company. Get your truck financed elsewhere!

Desired Settlement
Reverse the payment. The original intent of me calling in so many times. They were able to see my calls but still refuse to help the situation

Business Response
Complaint by customer has been resolved. We have agreed to defer his ******** payment and move that to the end of his lease once he pays fees of $******. He has agreed to pay this amount between ************ and ************. Customer seemed satisfied with the outcome of this agreement.

07/13/2015Billing / Collection Issues | Read Complaint Details

Cresco Capital is intentionally false reporting on my credit.
Cresco Capital erroneously reported to the credit bureaus my account being seriously delinquent during the course of my loan with them. I sent an email inquiring for proof of my delinquency but have not received any response thus far. My lease id # ********, purchase date ********, account manager was ***** ******,payment amount $ *******. My problem with them began after I paid of in full the balance on my loan on *******.

Desired Settlement
I would like for them to correct the false claims they have reported to the credit bureaus and would also like to get an apology letter from them as my business as well as my personal credit have suffered a lot.

Business Response
Contact Name and Title: ***** ******, Director
Contact Phone: ************
Contact Email: **********************
I have received and reviewed the correspondence submitted to the BBB regarding the customer's concerns of credit reporting by our company. In his complaint he stated that we intentionally falsified information regarding his payment history, and failed to respond to his inquiries about the matter. I want to assure you that this is not the case. We are pledged to providing timely and accurate credit reporting for all of our customers and take seriously any inquiries or disputes in this area. In my review of his complaint, I can confirm that an email was received from him on ***************. A letter response was drafted by one of my employees showing him his lease payment history and how it was that we calculated him being one month past due in ************. Daily mail had already been picked up in our office by the time this letter was finished on *********, so it likely did not get mailed out from our *************** location until *********. This complaint was filed on the ****. We anticipate he should have received our reply via mail either on the day of his complaint, or by the following day. However, in my review today I did discover an issue which did in fact lead to incorrect information being conveyed to the credit reporting agencies by our company. This was a bona fide human error that was unintentional in nature. Admittedly, this error caused an update on or around **************, to incorrectly reflect multiple months of derogatory payment history spanning the last twelve months of his lease, as opposed to accurately reporting only one month of late payment status. As of this morning, I have submitted manual credit bureau corrections to Experian, Equifax, and Trans Unions credit bureaus with the correction of those inaccurate derogatory marks in his payment history with us. Not only did I correct the inaccurately reported late payments, but I also granted his lease approval for a positive re-aging of the one accurately reported delinquent payment in his payment history. Therefore, within the next 24-48 hours, all three of those credit reporting agencies should be updated and reflecting that he had a perfect payment history throughout the duration of his lease, no payments having been delinquent. I hope that he will accept this corrective effort on our behalf to fix the problem, and equally I hope that he will accept my sincerest apologies for the last thirty days of inaccurate reporting stemming from our error. I will revisit our internal policies and procedures so as to insure that no similar mistake like this be made in the future. I have drafted a letter of this same explanation to him personally and have emailed it to his email address that we have on file just prior to entering this response. He should feel free to contact me if he has any further questions about this matter.

05/11/2015Problems with Product / Service | Read Complaint Details

Failure to repair maintence on truck
This truck was sold to me in *************. Within the very first week of having the truck it is having engine problems and failures. I have taken the truck to 3 different shops that have explained that the problems with the truck have been going on for quite sometime. I have requested a repair within my warrenty time frame from this company and the company has failed to provide me with all maintence logs they would have in possesion with this truck and has failed to repair the truck on thier behalf. They are sending me an invoice for a rediculous amount of money and costing me several expenses out of pocket for thier failure to sell a safe operating truck. I have lost 1 week of work due to this and have endured a double charge on my lesase payment from this company resulting in an overage charge of ***** dollars to my account that this company has yet to return. This company is not cooperating with the documents and refunds I have requested.

Desired Settlement
I am seeking my full refund from my double charged payment on my bank account dated ********** in the amount of $****. I am also requesting that this company cover the cost to repair my truck that was sold to me under such poor unsafe and unacceptable conditions. I am also requesying that the company garnish me with all maintenece logs of repairs and maintenece to my truck. As well as all fees and expenses associated directly as a result of this companys lack of cooperation and errors they have committed.

Business Response
We had an appointment made for Mr. ***** ******** to bring the truck to our shop for diagnosis and repairs, but he chose to fix the truck on his own.

10/07/2015Problems with Product / Service
04/08/2015Problems with Product / Service
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Industry Comparison| Chart

Loans, Leasing Service, Truck Dealers

Additional Information

BBB file opened: 03/09/2010Business started: 05/04/1988
Type of Entity


Incorporated: May 1988, MN

Contact Information
Principal: Mr. Andy Lucht (Manager)Mr. Joe Hoovfestol (Vice President)
Business Category

Loans, Leasing Service, Truck Dealers

Products & Services

This company provides in house financing for truck leasing.

Map & Directions

Map & Directions

Address for Cresco Capital, Inc.

200 Owen Parkway Cir

Carter Lake, IA 51510-1500

To | From


1 Locations

  • 200 Owen Parkway Cir 

    Carter Lake, IA 51510-1500

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Nebraska, South Dakota, The Kansas Plains and Southwest Iowa. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Cresco Capital, Inc. is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


BBB began including complaint response text in BBB Business Reviews on August 1, 2013.

BBB reports the complaint response text for all reportable complaints against a business that are received electronically.


Industry Tips for Loans


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BBB Customer Review Rating plus BBB Rating Overview

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Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

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BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

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