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Patria Lending LLCThis business is NOT BBB Accredited.
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Reviews
This profile includes reviews for Patria Lending LLC's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Review Ratings
Average of 14 Customer Reviews
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Review fromCynthia L
Date: 03/27/2024
1 starCynthia L
Date: 03/27/2024
I never signed for this loan. I was looking at loans for vacation and went with someone else. They are taking 170 out of my checking weekly for 25 weeks. Just unbelievable. Their website won't tell you anything or how to return the moneyPatria Lending LLC
Date: 03/31/2024
BUSINESS OWNER (ID ********* RESPONSE TO CUSTOMER REVIEW:
The ******************** website provides an overview of the Consumer Installment Loan Program.Interested individuals may complete an on-line loan application.
If approved,potential borrowers are asked to sign the Loan Agreement that includes the Truth-In-Lending Act ****** Disclosure. The ****** Disclosure is the first page of Patria Lendings Loan Agreement. The **** outlines the required repayment categories that must be presented to a potential borrower before a Lender extends credit. The purpose of the **** is to protect potential borrowers so they are not surprised by financial charges, payments, and fees. Categories displayed are as follows: Annual Percentage Rate; Finance Charge; Amount Financed; Total Of Payments; Number Of Payments; Amount Of Payments; When Are Payments Due; and Repayment Fees.
Then, once the terms of the Loan Agreement have been read, and if agreed, the potential borrower is asked to sign the Loan Agreement, select their preferred funding method, and answer security questions.
The following represents a summary of the timeline and various steps involved in the Customers loan application and funding process:* Loan application was received on Wednesday, 03/20/2024.
* Loan application was approved on Wednesday, 03/20/2024.
* Email Message Sent Wednesday, 03/20/2024 - Loan approval, sign documents, and select funding method.
* Text Message Sent Wednesday, 03/20/2024 - Loan approval, sign documents, and select funding method.
* Loan Agreement Documents were signed and dated on Thursday, 03/21/2024.
* Email Message Sent Thursday, 03/21/2024 requesting answers to Knowledge Based Authentication Questions.
* Text Message Sent Thursday, 03/21/2024 requesting answers to Knowledge Based Authentication Questions.
* Loan funds in the amount of $1,400.00 were transmitted to the Customer provided checking account, from the loan application, on Friday, 03/22/2024 via ACH. Due to the weekend, funds were available on Monday, 03/25/2024.
* If the Customer decides not to continue with the requested loan after approval, signing loan documents, and funding; the loan funds can be returned within 24 hours. This is explained in the Patria Lending Website under the section titled FAQS as follows: How do I cancel my loan?
You may cancel your payment obligations under this Loan Agreement, without cost or finance charges, no later than 3:00 p.m. Eastern time of the next business day immediately following the Disbursement Date. Your right to cancel your loan only applies if your loan either has not funded or, if it has, the funds are returned to us. To cancel your payment obligations on this loan, you must inform us in writing, by or before the Cancellation Deadline, by email to *************************************** that you want to cancel the future payment obligations on this loan. If we receive payment of the principal amount via the debit, then both your and our obligations under this Loan Agreement will be rescinded. If we do not receive payment of the principal amount by debit from Your Bank Account, then this Loan Agreement will remain in full force and effect.
Thank you,
Customer Care
********************
Sunday, March 31, 2024Review fromTroy C
Date: 02/15/2024
1 starTroy C
Date: 02/15/2024
These guys. Are not what you need. literally have hurt our business more than anything. even for a 1k loan they received over 8 payments and only applied $40 towards the principle. talk about mad and the fact that they will take $$ out of your account and you start your day with a negative balance. its fun trying to run you own company and they get $$ before you even make that $$. Would be great if they could take payments later in the evening. But ****** learned. interest was high as well. so if you do the math for $1K to be paid back at 14% interest. we looked at our payment structure, they want 26 weeks of $120. payments. yeah will not be using them or recommending them. was Thankful at first, but it soon became. what did we do to ourselves.Patria Lending LLC
Date: 02/20/2024
Opportunities to address our borrowers concerns are appreciated. As explained on the Patria Lending website, loans offered are Consumer installment loans, not Business loans, with 26-week repayment terms, that are structured to assist with short-term financial needs rather than providing a long-term financial solution. As such, this type of loan is an expensive form of borrowing. And, with most installment loans, fewer dollars are applied to the principal balance during the early stages of the loan, with a majority of payments being applied towards interest. Then, as more payments are made, more dollars are applied to the principal balance. Borrowers interested in applying for a loan have the option of completing an on-line application. If approved, borrowers are asked to sign the Loan Agreement that includes the Truth-In-Lending Act Disclosure. This Disclosure is the displayed on the first page of the Loan Agreement and outlines the required repayment categories that must be presented to a borrower before a lender extends credit. The purpose of the Truth-In-Lending Act Disclosure is to protect borrowers so they are not surprised by finance charges, payments, and fees. Then, once the terms of the Loan Agreement have been read, and if agreed, the borrower is asked to sign the Loan Agreement. Thank you, Patria LendingReview fromMichael C
Date: 01/21/2024
1 starMichael C
Date: 01/21/2024
Avoid this lending company at all costs! Dishonest about interest rates and a complete rip off. 599% interest rate that they dont divulge until youre locked in. Absolutely criminal!Patria Lending LLC
Date: 01/25/2024
It is disappointing to receive comments such as these from potential or current borrowers, especially when the Patria Lending website provides an overview of the Loan Program. This overview informs potential borrowers that this type of loan is an expensive form of borrowing and is not intended to be a long-term financial solution, but rather designed to assist potential borrowers in meeting their short-term financial needs. Interested individuals may complete an on-line loan application that is passed through the underwriting process and applicable risk-based credit filters. Interest rates are determined based on the requested loan amount and individual credit-worthiness. If approved, potential borrowers are asked to sign the Loan Agreement that includes the Truth-In-Lending Act ****** Disclosure. The ****** Disclosure is the first page of Patria Lendings Loan Agreement. The **** outlines the required repayment categories that must be presented to a potential borrower before a Lender extends credit. The purpose of the **** is to protect potential borrowers so they are not surprised by financial charges, payments, and fees. Categories displayed are as follows: Annual Percentage Rate; Finance Charge; Amount Financed; Total Of Payments; Number Of Payments; Amount Of Payments; When Are Payments Due; and Repayment Fees. Then, once the terms of the Loan Agreement have been read, and if agreed, the potential borrower is asked to sign the Loan Agreement. Thank you, Patria LendingReview fromRenee J
Date: 12/26/2023
1 starRenee J
Date: 12/26/2023
I had applied for a loan with them and was approved. I decided to do some more research. This is definitely a predatory lender. I am so happy that I didn't execute the loan documents. I would definitely stay away from this lender. APR of 599% is absurd.Patria Lending LLC
Date: 12/29/2023
RESPONSE TO CUSTOMER COMMENT FROM BUSINESS
Customers name has been removed from the following referenced email correspondence and substituted with Customer:
Loan application request in the amount of $2,000.00 was received through the Patria Lending Website on Monday, 12/25/2023 at 7:47 PM.
Loan application was passed through the underwriting process and applicable risk-based credit filters.
Monday, 12/25/2023 at 7:53 PM, Customer sent the following email:
From: Customer Sent: Monday, December 25, 2023 7:53 PM To: *************************************** Subject: Conditional Approval
Good Evening,
I have decided that I dont want to borrow 1000.00
Can I get a lesser amount? Also, I dont get paid every week.
Customer
Loan request was approved on Tuesday, 12/26/2023 at 10:49 AM for $1,000.00.
Customer was notified electronically; and requested to sign the Loan Agreement that included the Truth-In-Lending Act Disclosure, ACH and Electronic Funds Transfer Act (Automatic Payment Authorization Form) Agreements (See email below).
Patria Lending
8151 Highway 177
************ 74651
Congratulations Customer!
Your $1000 loan has been approved and is ready for funding. Please click this LINK and sign where indicated, and your loan will be in your account in no time. Should you have any questions, please contact our office at ***************************************.
Thank you,
************* ********************
Wednesday, 12/27/2023 at 10:16 AM, Customer sent the following email:
From: Customer Sent: Wednesday, December 27, 2023 10:16 AM To: *************************************** Subject: FW: You're Approved, Sign Now Good Morning, I dont want to sign the documents. The APR is too high. Can you please tell me what the payments would be for a $300.00 loan. Also, I dont get paid weekly. I am paid bi-weekly. Thank you.
Customer
Wednesday, 12/27/2023 at 3:00 PM, Patria Lending sent the following email:
From: ************* <*****************************************************************> Sent: Wednesday, December 27, 2023 3:00 PM To: Customer Subject: Re: Conditional Approval Thank you. We are in the process of canceling your application. ************* ********************
Wednesday, 12/27/2023 at 3:09 PM, Customer sent the following email:
From: Customer Sent: Wednesday, December 27, 2023 3:09 PM To: *************************************** Subject: RE: Conditional Approval Thank you. Can you advise if I can apply for a lesser amount?
Customer
Wednesday, 12/27/2023 at 5:32 PM, Patria Lending sent the following email:
From: ************* <*****************************************************************>
Sent: Wednesday, December 27, 2023 5:32 PM
To: Customer
Subject: Re: Conditional Approval
Your loan application has been cancelled.
*************
********************
Regarding Customers Comment: This is definitely a predatory lender. I am so happy that I didn't execute the loan documents. I would definitely stay away from this lender. APR of 599% is absurd..
Patria Lending is not a Predatory Lender. Patria Lending is a Tribal Lending Entity wholly owned by the Otoe-Missouria Tribe, a Sovereign Nation located within ****************************. The Otoe-Missouria *********************************************** is the ***************** solely responsible for regulation of Patria Lending. Patria Lending LLC is licensed and regulated under the Otoe-Missouria ************************* Services Ordinance.
It is interesting to note that the Customer commented that they would stay away from this Lender. However, the Customer was unsolicited, they visited the Patria Lending Website, completed an on-line application, was approved, and decided against signing the Loan Documents, but still inquired about applying for a loan with a lesser amount.
Thank you!Patria Lending LLC
Date: 12/29/2023
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