LoanBuilder, A PayPal Service Reviews 5,348

i applied for ppp loan second draw in the beginning of feb. signed documents in the beginning of feb . i was told i was denied a week later and asked if i wanted loanbuilder to continue. Since i recieved my first ppp loan thru loanbuilder i was confident that that would come thru! So i withdrew my application from other lenders and kept loanbuilder. It has been a month plus days and nothing! they have put me in a really bad bind by trusting them! And they refuse to give me any updates other than we are working as fast as we can. But i have seen people apply as recently as weeks ago this month who have been processed and finished. Yet i'm still waiting for answers!

Absolutely terrible PPP processing. Applied in mid January right after they started taking applications. Took until last week (3/3) to get SBA approval. It's now been 7 days and my money still hasn't been deposited. I've never had a loan take so long between approval and funding. I get the same congratulations email that I was approved every morning for the past 7 days. Hopefully will see this money before the 10 days the sba allows for disbursement. If I wait this long just to get canceled by the sba I doubt I'll have time to apply elsewhere and get help for our business -James Shoop, Screaming Oaks Farm

my company Crusader Paint, LLC obtained a working capital loan through PayPal. The entire process was conducted in a professional and extremely user friendly manner.
The loan representative from PayPal was friendly, very knowledgeable about the various product offerings and most important really gave me confidence that my company's financial welfare was his most important consideration.
The process from start to funding was a little over 24 hours. This is my company's third loan from PayPal. So, if a returning client is a sign that repeat business is customer satisfaction; consider Crusader Paint, LLC a very happy client of PayPal.

Applied here for my second draw PPP. Allegedly my application was sent to the SBA on 2/15. It does not take 20 days to hear back from the SBA. It must have never been sent. Now I can’t get an email response or a phone call answered! Total bull!

They're an absolute nightmare.

I applied for my PPP loan over a month ago. I've been prompted to resubmit the same documents half a dozen times. Nobody answers the phone or responds to emails. They sent me documents to sign two weeks ago, and just today they sent me an automated email asking to resubmit my bank statement, the same statement I've submitted four times already. Avoid them at any cost. It's disgusting to see such a large company have such utter disdain for the little guy.

I will tell you that I have done business prior with loanbuilder. I would say it worked out how it should have, but it did have a cost. Having multiple lender options, I did allow their rep, Nico, opportunity to earn back my business. After brief talk, I felt that it was not going to be my best option and kindly refused. Nico was helpful and made sure to let me know he will make sure to do best for me now, but also future. I appreciate his attitude and when sharing more about my options, Nico really did take care of me. In all reality, Nico saved it. My mind was made up and I was going another route, but I am grateful that it was Nico whom I was talking with. He really allowed me to see how this product would make that difference I needed it to be.

Don't waste your time with the Paypal loan sharks. I have received a loan from them in the past - I was offered $10k but only took $5k for my business, and I was told that if I needed the other $5k I would be able to receive it any time in the future. Well, 6 months later, I called my "sales rep" who proceeded to ghost me, so I called customer service. They told me that whoever told me I could access the remaining $5k was wrong and that I needed to re-apply. I decided against it, as I didn't want to be hit with another credit inquiry.

Fast forward 1.5 years and here we are in a COVID world. I constantly get calls and emails from these people, wanting me to apply for a new loan since my original loan was paid off. After the way I was treated last time, I was hesitant. Well, I am planning on growing and need to hire some people and get them trained before the busy season starts again, so I respond to one of these sharks and go through the application process. I was approved for up to $17,500 this time. I submitted all of my documents and my rep, Tim Keyser, says it all looks great and he would get the contract out that same day. Then...crickets. I call. I email. No response. Then I get a random auto-generated email from Loanbuilder saying they can't approve my application because my revenue was insufficient. Oh, so $13k average monthly sales isn't enough for you now, but a couple years ago $5k was? You could have just told me that when you looked at the documents I provided you. Thanks for wasting my time! I will find another lender to fund my business at lower rates than what you can offer.

Stay away from Loan Builder and their deceptive practices. They are not supporters of small business, in a time with small businesses are struggling to stay afloat. Their goal is to churn & burn applicants and dupe people into high loan fees.

Loanbuilder by Paypal was a fairly easy program once we ironed out the APR, Loan builder came through with the cash and I came through with the payments THEN COVID hit!!! It was horrible and I was very worried about paying my debts BUT Loanbuilder jumped in an automatically suspended the weekly payments and I didn't even ask or have to reach out. VERY progressive for an institution to step up like that, I was very, very impressed! Beyond satisfied very happy with the end result.

Thanks Swift Financial for helping us build our business. Even when hard times hit, you were understanding and very easy to work with! I appreciate the professionalism of each rep I spoke with! Glad to have paid it off with you.

Same day funding, you just can’t beat that!

I had excellent experience with LoanBuilder (Swift Capital) until the COVID-19 pandemic. I was able to get relief for a short period given the pandemic, but without giving any notice, LoanBuilder (swift) started to draw down my account again. I've reached out every day for the past week via email, the online form and via phone and the I haven't gotten a single response either way on whether they are offering extended relief. It seems that they are avoiding their customers.

Good service, would have liked the amount I requested however way things are right now around the world, guess be happy with what we can get , very good company,

My ppp loan was stagnant for 2 weeks. After trying to contact them numerous times via email and telephone with no success I requested to cancel the loan. It has been a month and the loan still shows up on my sba portal as active MAKING IT IMPOSSIBLE TO GET ANOTHER PPP SBA LOAN. This is unexceptable.

Applied several times for PPP and keep getting a decline of unable to verify information, although I have submitted all of my information accurately. I am unsure of what is missing or who to contact.

I've been surprised to treatment I received from them as a costumer specially during the pandemic of covid-19 in my opinion Swift Financial is the best A+++++.

Thief... Very deceptive on their loans. Paperwork states that they charge "interest" NOT A FEE on the service. SO if you you pay it off early they charge you ALL the "interest" in the payoff and you NEVER get refunded any "interest" over paid. SCAM DO NOT EVER USE THIS COMPANY

Complete Fraud. Abandoned my PPP application. Refused to respond to calls and correspondence for two months. After much research, discovered that they have screwed many small companies. Now have to deal with quagmire of dealing with the SBA on being allowed find another PPP lender. I have to begin the whole process again. They should be ashamed of themselves. Yet they still actively pursue more profitable lending opportunities. To make false representations and mislead small borrowers during this crisis is unforgivable.

It was a very good experience for me . Tanner was very professional and helpful. I was very how fast and quick the service was . 5 star experience definitely. Thanks

We have 1.7 million in sales and a monthly payroll of $25135 and have been trying to get a PPP loan from the SBA. PayPal/Loan builder are just as bad as Bluevine they take your paperwork and than abandon you. Our loan has just been sitting there for a month with no update. They don't return your emails or return any of your phone calls.
The SBA program is a great idea in theory, but for small rural businesses it's so hard to get your application fairly and promptly processed.

So I don't know where to start. I applied for a PPP loan four weeks ago. ABSOLUTELY zero response. I send a request twice a week for someone to contact me. Again ZERO response to my request. Today I check the status and my application has disappeared. I tried to call several times and each time after waiting a very long time I got hung up while trying to connect to a representative. I tried to resend the application and it says I am no longer eligible. I understand the circumstances in the world, but there has to be a better way.