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Business Profile

Loans

Lendzi
BBB accredited business seal
BBB Accredited BusinessA+Rated by BBB

Complaints

Customer Complaints Summary

  • 2 total complaints in the last 3 years.
  • 1 complaint closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:01/14/2025

    Type:Order Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    If I could give zero stars, I would. My experience with Lendzi was by far the worst Ive ever had with any lender. Initially, they told me they were preparing a contract for $24,000, but I never received it. Then, they changed the offer to $6,500, and eventually, they dropped it to $0 without any reasonable explanation or clear communication. **** OK is the worst person Ive dealt with. He didnt even let me know the loan for $6,500 was also denied, I found that out by researching on my own. Mind you, the interest on that loan would have been considered predatory lending anyways.The lack of professionalism and transparency throughout this entire process was appalling. They wasted my time and left me feeling misled and frustrated. This company either has no idea what theyre doing or intentionally gives false hope to potential clients.I would strongly advise anyone considering ***** to look elsewhere. Avoid the headache and disappointment I experienced. This is a company that does not value your time or business.

    Business Response

    Date: 02/07/2025

    Dear Gianni,

    Thank you for sharing your experience. We're truly sorry to hear about the challenges you faced during your loan application process. At Lendzi, we strive to provide clear communication and professional service to all our clients, and it's disappointing to learn that we did not meet those expectations in your case.

    Regarding the rejection of your loan application, we understand how frustrating it can be when outcomes feel unclear. The decision was based on discrepancies in the financial data provided, which did not align with third-party verification results. We acknowledge that our communication around this matter should have been clearer and more transparent.

    We would appreciate the opportunity to discuss your experience further and see how we can make things right. Please feel free to reach out to us directly at ************** or send an email to *************************************************************, so we can better understand the situation and address your concerns more thoroughly.Thank you again for your honest feedback. We are committed to learning from this experience and improving our services for all our clients.

    Sincerely,

    The Lendzi Team

  • Initial Complaint

    Date:08/20/2022

    Type:Order Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Hello,

    I was in search of a small business credit organization and came across the company "******" at ******************************************************* I was contacted by a rep by the name of *********** to assist me. I explained that I was interested in a line of credit for my business. With no credit history, I was told that I needed to work with them firstly with getting a funding amount of $5700 direct deposited to my account and after 3 months of on-time payments, I could refinance out into a line of credit. The rep insisted that this would be the best way to go.

    *********************** is the group that provide loans. ****** is the broker company. When ****** sent me the agreement from ***********************, I noticed that there would be a significant amount of interest that would be owed to *********. I called ********* to ask if they knew anything about refiancing after 3 months into a better loan, they did not hear of such a thing. I immediately called ****** to clarify and ****** insisted that we could refinance out of that loan at 3 months and avoid the interests and get into a better loan. He insisted for me to just go ahead and sign the agreement so that he can lock it in because it is subject to change. When 3 months arrived, ****** did not help me but instead directed me to another employee. During this time, I spoke with ****** and *********, they have no idea of the refinance and insist they could not do anything about refinancing into a line of credit. In fact, both companies said they do not even offer that option. Only direct deposit funding and can only refinance for more funding. ****** led me on to believe that half-way through the funding term I could refinance into a business line of credit and that was not true. ****** neglected to provide recorded phone conversations as well.

    Business Response

    Date: 09/02/2022

    Business Response /* (1000, 5, 2022/09/02) */
    We are in communication with ******. I am actively working to get his loan renewed or get him qualified for a new business loan product. We will maintain communication as this process does take time.

    Consumer Response /* (3000, 11, 2022/09/26) */
    Hello!

    The response did not resolve my issue. I proposed that I have the solution for the loan interest that ****** cost me due to misleading information from one of their employees.

    Thank you,

    *************
    EMJ Investments, LLC

    Consumer Response /* (3000, 11, 2022/09/26) */
    Hello!

    The response did not resolve my issue. I proposed that I have the solution for the loan interest that ****** cost me due to misleading information from one of their employees.

    Thank you,

    ****** ******
    EMJ Investments, LLC


    Business Response /* (4000, 20, 2022/10/11) */
    ****** and I have spoke at length. He was issued a refund for our services and this issue has been resolved.

    Consumer Response /* (3000, 11, 2022/09/26) */
    Hello!

    The response did not resolve my issue. I proposed that I have the solution for the loan interest that Lendzi cost me due to misleading information from one of their employees.

    Thank you,
    **************
    EMJ Investments, LLC


    Business Response /* (4000, 20, 2022/10/11) */
    ****** and I have spoke at length. He was issued a refund for our services and this issue has been resolved.

Lendzi is BBB Accredited.

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