Loves Reviews 87

Great service product

I’ve used Loves factoring company for almost a year and my experience has been rocky. I signed up back in March of 2022 and began factoring immediately. The last few months have been horrible, our account was in limbo without an account rep for a while because our previous rep retired. Not sure when we received a new representative because no one every reached out to inform us. The manager Zach P, has been unpleasant from the very first conversation. Each conversation we’ve ever had with Zach started and ended with confusion & frustration. Countless times we’ve submitted an invoice only to find out 24 hrs later the invoice wouldn’t be funded for whatever reason, a customer would be updated to “No load” after submission, credit team (Zach) would take up to 48hrs to verify credit. Recently I experienced the first Chargeback since having this account, Zach and I were both aware of the payment being sent late for unknown reasons from the broker but yet Zach refused to allow our account to operate as normal. Love’s continued to accept invoices from the broker, while placing our account in the negative. We’ve reached out to Zach via email and telephone and yet to receive an update. I’ve spoken with his team and they have no idea why he won’t return or acknowledge our account. His team of representatives however has been very helpful in trying to assist us. Currently terminating our contract with Loves and moving on to OTR Solutions.

I am the owner of a small trucking company that Love's Factoring signed up under false pretenses. Here are several but not all of the ways that they have misled me and harmed my business:

1, The contract that they put me on has a really high price after they promised me that 5% is standard for the industry when it is actually about 3%
2. They refuse to factor any invoices under $750, which is a huge problem for me because I own a small truck so most of my invoices are under $750
3. The contract has no way out, which means that no matter how unhappy I am in the contract I can't even pay my way out
4. I need the cashflow to survive, but they are stopping me from using their service with #2 and I can't leave because of #3
5. Too many times they refuse to answer the phone or refuse to fund a load without giving me a reason

Despite the good discounts on the fuel card, the factoring is NOT WORTH IT. I'm not normally one to leave negative reviews, but since they are holding my company hostage, I've been left with no option but to tell as many people what happened to me as possible.

DO NOT FACTOR WITH LOVES!

Volodymyr Rukin
Owner
SC Wolf Express LLP