8 Customer Reviews
Review from Vicki S
1 star09/03/2024
They are horrible. I called and got the payoff amount on my loan, and I paid it off right then. Then the next day, they pull out a payment. You cannot talk to anyone in customer service the only way you can connect with them is via email. The gentlemen that answer the phone was worthless.Review from Garrett W
1 star07/19/2024
Cannot view my loan details nor can I access my account even after resetting the password. I contacted support and was told there was no application linked to my email. Extremely suspicious
Patria Lending LLC Response
07/24/2024
We appreciate the opportunity to address the concerns raised by our Patria Lending Client.After an in-depth review of the Clients account history, we identified the root cause preventing account access. A credit requirement of Patria Lending is to maintain a valid email address for communication purposes. When the current account was opened on January 26, 2024, the Client provided a specific email address, that is also used to establish a log-in password to access the Clients account portal. Additionally, Patria Lending only allows one active account per Client. With that said, on February 15, 2024 and March 01, 2024, the Client applied for additional loans and provided a different email address that was designated for both. Because of the one account restriction, the two loan requests were ******. Regarding the Clients inability to access the current account, when the most recent loan application was submitted on March 01, 2024, our *************** System captured the new email address provided and applied it to the current account. By doing so, prevented any attempts to access the current account using the original email address and password. As of this writing, the March 01, 2024 email has been removed, and the original email address has been added back to the account, therefore allowing account access using the password linked to the original email address.Client was notified via email on Wednesday, July 24, 2024.Please accept our apology for any inconvenience this matter may have caused.Thank you,Customer Care ********************Review from Charlie C
1 star07/10/2024
My identity was stolen and Patria issued the loan to the fraudster. I filed a police report and sent it to them and they replied that I have to pay back the money that I never received because both Patria and I were defrauded! They messed with the wrong guy. I've been an attorney for thirty years and headed a global financial crime investigations team. This will not end well for them.Patria Lending LLC Response
07/15/2024
Subsequent to receiving the Review on 07/11/2024, we have exchanged several emails with the Complainant regarding the fraudulent account situation and have reached a resolution.When claims of fraud are reported, such as the unfortunate situation involving the Complainant, we must proceed cautiously during the investigation process gathering the necessary information to substantiate the fraud claim. This is necessary because it is not uncommon for Borrowers to use claims of fraud as a tactic to avoid repayment of a financial obligation.Therefore, included in the investigation process is requesting, and obtaining a ************ Report, as well as ************************ Identity Theft Report, both of which were requested by the Complainant, and required to close the account and change the status to Fraud. As of Monday, July 15, 2024, we have received the Police Report and are awaiting the return of the Identity Theft Report.Additionally, it is important to remember that in any fraudulent situation, there is the possibility that the Consumer and Lender are both victims. The Lender may experience a financial loss, while the Consumers personal information may be further compromised.As a preventative measure, we highly recommend that the Complainant notify the Credit Bureaus of the fraudulent activity, identify, and remove incorrect information, as well as add a Fraud Victim Statement on their Credit Report alerting Creditors that Fraudulent Applications May ** Submitted In My Name Or My Identity May **** **en Used Without My Consent To Fraudulently Obtain ******** Services. Do Not Extend Credit Without First Contacting Me Personally And Verifying All Application Information By Contacting Me Day Or Evening At Specified Phone Number.Going forward, should the Complainant have additional questions or concerns, we are available by contacting ******************************************* you,Customer Care ********************Review from Samantha S
1 star06/28/2024
599% apr. No ONE can pay that, it's so much money to pay back, I've never seen a rate so high. I'd say only use them if you're dying or don't intend on making the payments back. Feels super predatory, whether or not the fine print states their T&Cs.Patria Lending LLC Response
07/01/2024
Opportunities to address our borrowers concerns are appreciated. Receiving comments such as these, especially from current borrowers, is disappointing. For this very reason, the Patria Lending website 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 and 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. At any point throughout the credit evaluation and funding process, if a ******** decides not to continue with the requested loan, they may stop the process as explained in the Loan Agreement. Also, even after the loan has been approved, documents signed, and funds deposited; the loan funds may be returned within 24 hours. This is explained in the Patria Lending Website. In addition, we strongly encourage our borrowers to consider making additional payments, making payments greater than the scheduled payment amount, or repaying their loan as soon as possible to reduce the amount of finance charges they may incur throughout the repayment term without any pre-payment penalties. Thank you, ************* ********************Review from Cynthia L
1 star03/27/2024
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 Response
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 from Troy C
1 star02/15/2024
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 Response
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 from Michael C
1 star01/21/2024
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 Response
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 from Renee J
1 star12/26/2023
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.
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.