Results 1 to 20 of 20
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04-21-2016, 02:18 AM #1
- Join Date
- Apr 2015
- Posts
- 297
LQD Business Finance
What has been your experience with this lender?
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04-21-2016, 08:56 AM #2
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
sent u a PM
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04-21-2016, 11:07 AM #3
- Join Date
- Sep 2014
- Posts
- 83
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04-21-2016, 11:09 AM #4
- Join Date
- Jun 2015
- Posts
- 3,326
[QUOTE=Triton;46285]What has been your experience with this lender?[/QUOTE
in one word i will say disorganized
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04-21-2016, 11:17 AM #5
Slow as molasses.. They had a couple of big deals for us spent weeks. Had to move on .. They need 2 years of bank statements to consider a 2-4 year note.
Maybe they will get their act together in the future and try again.
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04-21-2016, 11:23 AM #6
- Join Date
- Aug 2014
- Posts
- 194
a joke of a company, to be honest I think all they are doing is collecting data on merchants that are over leveraged to induce them into a corporate turn around style scheme later on.
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04-21-2016, 11:43 AM #7
- Join Date
- Sep 2014
- Posts
- 83
Same here... Couple of nice deals I gave them and provided bunch of documents, 24 months bank, financials and etc and a few weeks later, never got anything done. Kept saying its approved but no funding.. Every deal I sent them, I got them funded elsewhere under a week.... Hope they get there act together...
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04-21-2016, 02:50 PM #8
- Join Date
- Apr 2015
- Posts
- 297
Ok just wanted to see if I was the only one. Because of these jokers, I lost an ISO that sends me over $1M in business every month.
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04-21-2016, 03:52 PM #9
- Join Date
- Jul 2014
- Posts
- 1,746
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04-21-2016, 05:25 PM #10
- Join Date
- Apr 2015
- Posts
- 297
For all the reasons above. They are unorganized. Request document after document after document. Take weeks just to say that they haven't made a decision yet until you finally tell them to just screw off. I placed over a dozen files with them in the past couple weeks with the same result for pretty much every file. All of those files came from one ISO. But the kicker was this last one. It took them 3 weeks to decline it after getting the merchant super excited telling him they would have an approval by the end of the week only to request more documents (which I sent them twice). Then they wanted clarification on line items in the bank statements (after having them for weeks AND talking directly with the merchant a week before). Only to decline the file because there was a decline in revenue. WHICH THERE WASN'T!
It was just a nightmare.
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04-21-2016, 06:27 PM #11
- Join Date
- Sep 2014
- Posts
- 83
I felt your same pain loud and clear with 5 files...I Don't understand how they make any money by not closing deals..SMH !!!!
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04-21-2016, 07:32 PM #12
Well it looks like I was not the only one. These guys kept on calling afterwards to see about the deals.
I always test new funders with a couple of files 2 at most until they can perform.
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04-23-2016, 11:52 AM #13
- Join Date
- Oct 2015
- Posts
- 66
Funded 400k in January, then it came time for us to be paid and they only gave us half of what we agreed on...... george was unsavory to say the least
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04-28-2016, 09:42 AM #14
- Join Date
- Jun 2015
- Posts
- 5
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05-27-2016, 03:24 PM #15
Run away fast!!! Total waste of 4 weeks and countless docs. I will never deal with them. Point blank!
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06-01-2016, 01:43 PM #16
- Join Date
- Apr 2015
- Posts
- 297
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12-22-2016, 05:02 PM #17
- Join Date
- Oct 2016
- Location
- Cherry Hill, NJ
- Posts
- 73
If you ever look at their webstie they have a case study tab. Click on it....three companies listed. Probably the only three they ever funded. I digress. What is most interesting is to use google maps and see all of the merchants are within three hours or less of LQD in Chicago. Seems they only fund Michigan, Indiana and Illinois. Sad really!
Last edited by tgabcmca; 12-22-2016 at 05:08 PM.
Thad German
America's Business Capital
www.americasbusinesscapital.com
Toll Free: 1-888-426-0377 x 022
Direct : 856-782-3801
tgerman@abcmca.com
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12-27-2016, 01:26 PM #18
Run run run! They are the worst! They will waste your time!
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12-28-2016, 03:14 PM #19
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
They fund the larger deals, slower than I'd prefer but with the terms I needed.
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12-28-2016, 03:15 PM #20
- Join Date
- Jun 2015
- Posts
- 3,326
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