Complaints

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.

• Initial Complaint

  Date:04/02/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  The lcf group has called multiple times, to I guess tell me I don't qualify for a small business loan ... just to tell me they need me to have three months of banking ... I am recognized and certified as a LLC and as a business holding federal ein ... US title 15 subsection 1521 and section 636(i) and 636(j) ---The assistance programs authorized by sections 636(i) and 636(j) of this title are to be utilized to assist in the establishment, preservation, and strengthening of small business concerns and improve the managerial skills employed in such enterprises, with special attention to small business concerns (1) located in urban or rural areas with high proportions of unemployed or low-income individuals; or (2) owned by low-income individuals; and to mobilize for these objectives private as well as public managerial skills and resources. .. also violates 15 usc 1691 and 12 cfr ***************************************************************** income.Any adverse actions in a consumer credit transaction is illegal 12 USC 1431 Banks are required BY LAW to provide SMALL BUSINESS 50K-250K funding without showing documentation.All you basically need is an LLC & ???.

  Business Response

  Date: 04/09/2024

  
  Thank you for considering The LCF Group for your business funding needs. To clarify, The LCF Group does not provide credit, much less consumer credit.  The LCF Group purchases businesses future receivables.
  
  With that said, 15 USC 1691 (b) (3)specifically allows credit to be used to deny credit, to wit: 
  
  Activities not constituting discrimination
  It shall not constitute discrimination for purposes of this subchapter for a creditor
  (1)
  to make an inquiry of marital status if such inquiry is for the purpose of ascertaining the creditors rights and remedies applicable to the particular extension of credit and not to discriminate in a determination of credit-worthiness;
  (2)
  to make an inquiry of the applicants age or of whether the applicants income derives from any public assistance program if such inquiry is for the purpose of determining the amount and probable continuance of income levels, credit history, or other pertinent element of credit-worthiness as provided in regulations of the Bureau;
  (3)
  to use any empirically derived credit system which considers age if such system is demonstrably and statistically sound in accordance with regulations of the Bureau, except that in the operation of such system the age of an elderly applicant may not be assigned a negative factor or value;
  (4)
  to make an inquiry or to consider the age of an elderly applicant when the age of such applicant is to be used by the creditor in the extension of credit in favor of such applicant;or
  (5)
  to make an inquiry under section 1691c2 of this title, in accordance with the requirements of that section.
  
  Contrary to your claim, 12 cfr 1002 (6) specifically allows credit history (among other things) to be considered in evaluation an application for a financial product. 
  
  If you have any further concerns or questions, please email us at **********************************.
  

• Initial Complaint

  Date:12/13/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  I was not notified an aggressive *** would be filed for a MCA loan 90 days. I asked to pay $500 fee to have this removed as required by LCF and the attorney refused unless I paid more than loan amount which is an abuse of power knowing this would prevent me from purchasing commercial property. I asked this be removed Apparently the *** filed for that loan is on all business assets and our attorney is saying that it can come ahead of our lien position on the FF&E. I owe 10k this is preventing my closing. I have never defaulted on loan payment.

  Business Response

  Date: 12/22/2023

  First,we thank you for being a valued customer of **********************.
  
  Regarding the ****1 filing, please reference your signed contract on page 19, section 5 which states:
  
  5. Obligor hereby authorizes LCF to file, without the signature of Obligor, one or more ****1 Financing
  and/or Continuation Statements, and amendments thereto, relating to the Collateral. Obligor irrevocably
  appoints LCF as its authorized representative (coupled with an interest), with full authority in the place
  and stead of Obligor and in its name or otherwise, from time to time, in LCFs discretion, to take any action or
  execute any instrument which LCF *** deem necessary and advisable to accomplish the purposes of this
  Agreement,including, without limitation:
  
  You requested that we subordinate our UCC for a real estate transaction. We offered to take a 2nd position which has a
  subordination fee of $500 that would allow you to move forward and purchase your real estate property.
  
  In addition, on page 27 of the contract, there is an Advance Repurchase Addendum which states your advance purchase price options and deadlines.
  We offered this as an option;however, we did not receive the repurchase amount within the 30-day calendar period. Therefore, it is your
  responsibility to pay the remainder of the total payback amount that is stated in your contract.
  
  We apologize for any issues or misunderstandings that *** have occurred and would like to work with you to a find a resolution. 
  Based on your current payment status and good standing, you are eligible for additional funding from The LCF Group, should you need
  in the future. If you have any further questions, please reach out to **********************************.
  

  Customer Answer

  Date: 12/27/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  Your attorney denied my request to subordinate the *** Lien which held up my closing for my commercial property.  I offered to pay the fee your attorney *********************** was disrespectful demeaning, and extremely offensive.  He kept saying what is in it for me? The loan will be paid in full 1-2-2024.  Why would I need to pay off when I had already paid back what I had borrowed. The settlement amount offer at a lower rate was not granted because your attorney knew I needed the *** lifted and leveraged my situation for gain.  I want LCF to refund $1000 of my loan processing fees for causing my closing delay and being an unethical company.  Otherwise I will seek my attorney to take further action.  I will also be filing a formal compkaint on *********************** with New York Bar Association.  His behavior and aggressive and unprofessional attorneys must be held accountable.

  ***********************
  
  
  
  
   
  

  Business Response

  Date: 01/03/2024

  
  This complaint has already been investigated and responded to.  While the customer has every right to feel unhappy with the response, its an inappropriate use of BBB to then submit another complaint for the same issue which has already been resolved. 

  Customer Answer

  Date: 01/04/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  
  My response:
  
  I do not accept LCF response the attorney acted unprofessionally and was extorting additional funds due the immediate need I had.  You did not respond to the refund I am demanding and an apology for the unprofessional behavior.  Our bank president was also deemed the actions of LCF group as predatory and advised to escalate this matter further. 
  
  Regards,
  
  *********************;
  

  
  

  
  
  
  
  
   
  

• Initial Complaint

  Date:11/27/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  They took 3 payments from ** in one day and called it a technical error. So we stopped payment it in the AM and shortly after that we received an email that it was a technical error and they would not take another payment until the end of the week.Well that doesn't help much when they take 3 payments out in one day.So they send texts and I tell what they did and they breeched our contract and they threatened legal action for the stop payment and put a lien on our credit card processing company stripe.So now here we are with nearly ****** waiting to go into our bank but stuck in stripe processing. This is insane.

  Business Response

  Date: 11/30/2023

  Thank you for being a loyal and valued customer.
  
  We appreciate your cooperation in taking the time to speak with our representatives. We are happy to see that this issue has already been resolved for you. Your satisfaction is our top priority, and we look forward to serving you again in the future.
  
  If you have any other questions or concerns, please feel free to reach us at **********************************.
  

• Initial Complaint

  Date:11/07/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  LCF group is one of the worst lenders have dealt with and am still living with the aftermath of what I went through with them. They initially lent me over $11000 and after it was all said and done I paid about $22000 to settle and close the account. As if the 200% return wasn't enough they failed to release the *** Lien they had filed on my record. And to make matters worse they lied and said I had only paid $10000. And now am not able to apply for additional funding with any lenders because they see this on my record.

  Business Response

  Date: 11/17/2023

  We appreciate the opportunity to address your concerns and want to assure you that we take them seriously. Following a thorough review of your account, we would like to provide you with a comprehensive overview of the events surrounding your transaction with The LCF Group.
  

  On December 19, 2022, you secured funding from The LCF Group. However, beginning on January 12, 2023, you defaulted on your agreement with us, which persisted until May. We acknowledge the challenges that arose during this period and appreciate your cooperation in working towards a resolution.
  

  Our legal team and both parties collaborated to settle your account, and we successfully concluded this process on May 17, 2023. Since then, there has been no further communication between the involved parties.
  

  On November 8, 2023, you reached out to us via email requesting the release of your UCC lien. We promptly responded on the same day,informing you that we had submitted a release for all UCC liens against you.
  

  We understand the frustration you may be experiencing in seeking funding from another lender. If you are being declined by lenders, that is outside of our control,and we have no way of knowing if your default with LCF is a factor in those declines is or not.   However, your successful resolution of your advance with LCF does make you eligible for additional funding from LCF, should you need it in the future.  
  

  To obtain the latest updates on your UCC lien status, we encourage you to check your business credit reports or your secretary of states website to search for UCC filings against you.
  

  If you have any further concerns or queries, please do not hesitate to contact us directly.

  
  

• Initial Complaint

  Date:10/30/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  The LCF group is AWFUL! They charged my business bogus default fees and now have filed a UCC lein against my personal accounts; ie. PayPal, Venmo I offered them a settlement and they refused and now they're charging me $5000 in additional fees. They're the worst, dishonest scheisters. All of their employees are rude and unprofessional bullies.

  Business Response

  Date: 11/03/2023

  We appreciate your business and apologize for any inconvenience in communicating with us.  Regarding default scenarios and any possible fees, please review your contract where this is explicitly detailed in Appendix A on page 10. We pride ourselves on working with our customers and providing excellent customer service. We would like to resolve this matter with you, so please reach out to your account manager so we can discuss further how we can assist you better. 

• Initial Complaint

  Date:10/25/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  We received a merchant cash advance of $1700 from LCF. After multiple weeks of repayment, the phone connected to my business accounts lost/stolen. Without the phone I was locked out of my business account because I could not receive verification codes. I informed LCF of this and asked to pause daily payments until I received a new phone. Theyd continued attempting to draft payments and ultimately froze all of my accounts. To make matters worse, they claim they did so because the payments were being returned because the bank account was closed. That was a lie. We paid them off and received the letter confirming our account with LCF was officially resolved. More than a month after that, we attempted to obtain funding from another lender. We were denied because LCF reported to ********* that we provided fraudulent bank information and statements. This is ANOTHER LIE. I emailed their legal department over a month ago and this is still causing issues for us and prohibiting us from receiving funding. We are demanding that this negative lie be removed immediately or we will take legal action. This is defamation of character and damaging for our business. That bank account information never changed and the account was never closed.

  Business Response

  Date: 11/03/2023

  We take your concerns seriously and have conducted a thorough review of the transaction in question. Upon careful examination of the documents submitted to our company, we have found discrepancies that show the documents were altered, thus our statements to ********* are correct. With your permission, we will provide these same documents to the BBB so they can judge for themselves. 

• Initial Complaint

  Date:10/24/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  I was getting finding from this company once i filed and signed the paperwork for ******* my bank called me saying this company was linked to fraud they told me to change password and log in and assured they wouldnt have assess to my account they still were able to deposit funding they began taking payment to repay the ******* they took a double payment that i didnt authorize. When i called all they said was it was a mistake and that it may fall off my account. The double payment had already cause a domino effect and caused fees for ither automatic payments, when they werent able to fix the situation and were so rude and unempathetic i placed stop payment on the company and offered a different checking account to take payments. They then put a ucc lein on my asquate account not allowing me to continue to make money slowing biz down and said i owe **** more dollars for fees of breaching contract

  Business Response

  Date: 10/31/2023

  We appreciate your business and apologize for any inconvenience this has caused you. We pride ourselves on working with our customers and providing excellent customer service. According to our records, a stop payment was placed within two weeks of funding. When our customer service representative spoke with the merchant, it was documented that the merchant refused to remove the stop payment and resume payments which prompted legal action. We would like to resolve this matter with you, so please reach out to your account manager so we can discuss further how we can assist you better. 

  Customer Answer

  Date: 11/02/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [i initially  told them i wasnt going to proceed because my bank falgged them as fraud. They put the money in my account any way so i just went along with it. They took $98 for about 5 days the sixth day they took $98 twice which i didnt authorize. It ******** my account and caused late fees for other automatic payments. When i called to ask them to rectify this situation all they said was it was a mistake. I asked if they could credit the account they said no. So with no resolution and no guarantee that they wouldnt take double payments again yea i placed a stop payment on them and provided them with another checking account that i dont use so much. Out of ******** they them told me i owe ********* when the breech in contract was them taking more money than i authorized. When i didnt want to continue with the process from the beginning 

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *********************************
  
  
  
  
   
  

  Business Response

  Date: 11/07/2023

  We understand your concerns regarding the payment process and would like to address them promptly and effectively. Per the terms outlined on page 2 of your signed contract, ACH bank transfers are the agreed-upon method for payment transactions. This is a standard practice designed to ensure a secure and efficient processing of payments for both parties.
  
  Despite this, we recognize that situations can arise where this method may cause inconvenience, and we sincerely apologize if this has been your experience. We are committed to making sure your concerns are heard and addressed. Therefore, we invite you to speak with your dedicated account manager, who is prepared to work with you towards a resolution. They will consider all possible options to assist you and ensure that the payment process is as seamless as possible moving forward.
  
  Please reach out to us at your earliest convenience to discuss this further. We are here to help and are eager to restore your confidence in our services.

  Customer Answer

  Date: 11/08/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:
  

  what they are saying isnt the problem. I didnt just stop payment. They have already taken a weeks worth of payments which were fine. However they took a double payment that i didnt authorize and when i asked for someone to fix this problem there response was it will likely fall off by the end of the week. Their double payment caused insufficient funds for other bills and fees from bank and other companies. I asked them to credit the account the representatives were rude to me and talked very nasty to me and have been harrassing me ever since. I gave them anither account to draft their payments from but then they told me i owe them ******. This buisness just ruins small businesses and makes things worst i got $2,500 from them which i told them i changed my mind about and the funded me anyway then they took what they wanted when it wasnt available for them. I have spoken to several people and all of them are rude and dont seem to care that its because of their unauthorized double payments that i had to place stop payment before they did it again 

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *********************************
  
  
  
  
   
  

• Initial Complaint

  Date:10/23/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  This company needs to be shutdown we agreed on **** MCA at the last minute they deposited **** and are wanting over 4k paid back. I dont understand how ** allows business like this to operate. *** reached out to settle waiting to hear back. Do NOT DO BUSINESS WITH THIS COMPANY I DONT CARE WHAT THEY RESPOND THEY ARE CROOKS DONT BELIEVE WHAT THEY ARE TRYING TO SALE

  Business Response

  Date: 10/23/2023

  We appreciate your business and see that our customer service department has been in touch with you as recently as Friday. Please refer to your contract for the full breakdown of terms, fees and net deposit amount, as they are explicitly detailed on the front page. We would like to resolve this matter with you, so please reach out to your account manager so we can discuss further how we can assist you better.
  

• Initial Complaint

  Date:09/06/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  I took a loan in January of 2023 letting them know it may increase in the near future, in Feb I asked for the increase and was declined by *******, we let him know that I would go else where to receive funds. April LCF wanted to give me more money , after speaking to ******************************* He now says I owe 52 k more because I got a loan from somewhere else and didnt give LCF a chance to lend money, Little does he know that ******* is on a recorded line. ******* says if I renew with him he can take off the mistake, Then im transferred to Lisnet and she says not to deal with ******* that she is the one to control the acct. As we get started with her another woman named ***** steps in and says not to deal with either of them and now she is my acct rep. *** that the payments are coming to a end they have sent multiple letters of payoff trying to extort more money from me. over and above their due settlement. I have seen liars and thiefs but these people are pros,

  Business Response

  Date: 09/11/2023

  We appreciate your business and apologize for any inconvenience in communicating with us. We pride ourselves on working with our customers and providing excellent customer service. We would like to resolve this matter with you, so please reach out to your account manager so we can discuss further how we can assist you better.

• Initial Complaint

  Date:08/31/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  I have been attempting to pay and/or settle but when I contact their attorney ***********************, I receive rude and lude comments. They use tactics to recite activities of the account instead of addressing the issue. I finally spoke with a Rep at LCF to give me a settlement offer and they are allowing less than 24 hours to read the terms of the settlement and submit the funds; unreasonable.

  Business Response

  Date: 09/11/2023

  We appreciate your business and apologize for any inconvenience this has caused you. We pride ourselves on being the leader in excellent customer service in the Cash Advance industry and working with our customers who are experiencing financial difficulty. According to our records, you were funded in May of ***************************************** July of 2022, placing your account into default. We have been attempting to contact since to resolve the default. We have reviewed our communication records and found no evidence of rude or lude comments from any of our staff.   We strongly encourage you to have any legal settlement agreement reviewed by your attorney, and we will always provide sufficient time for that. Please reach out to your account manager so we can discuss further how we can assist you better.