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   Real review of "SnapCap" in Charleston, SC!

We are NOT interested in advertising or anti-advertising of any financial company!
All reviews are published without making any changes.

  Maria Swannson sent us her review August 20, 2016.

  Visited address:
  701 E Bay St #414, Charleston, SC 29403, USA

"I ran a small business in Charleston, and as with so many small businesses here, was often struggling to make ends meet. As a result, I have taken loans from secondary market lenders in the past, such as DealStruck, Kabbage, and several others. I think based on my experiences with them, SnapCap gave me a call to offer me another loan. Well, it came in the right time because I did need another loan for expansion. However, I hesitated because I've heard and read the bad reputations and reviews of SnapCap before. In fact, that was why I avoided applying for their loans before.

However, I decided to listen to their offer first, because I figured there was nothing to lose anyways. They offered me a loan of $50,000 with almost $15,000 worth of interest over six months. Well, I was surprised to hear about the interest rate! It was a lot higher than what the other companies offered me before. But at the cost of that outrageous price, I would get the loan much quicker and easier. I was reluctant to take the loan because the interest rate would take so much of my profit, but after I discussed with my business partner, we decided to take the loan anyway.

I called the loan officer back informing him that we would take the loan, and in less than 24 hours, I received an email confirmation. I replied immediately, but after that, I didn't get any feedback, updates, and nothing at all whatsoever. I sent three emails without any reply, and I finally gave their main office a call to ask about the situation. When I asked about the lady who gave me the offer and processed the loan, the guy on the phone replied that she's not in the office that day, and he would help me.

I repeated my information and loan request (well, technically I was offered), but then he said that my company was not eligible for the amount. I was surprised because again, they were the first one who offered me the loan, and not otherwise. When I complained, he said that he would put my application through the underwriting. I told him I got the email about the loan confirmation, but he waved it off. Instead, he offered me another loan program with an even higher interest rate. I hung up immediately, and since then, I got no update at all from them.

I think they are just scamming people to get the personal information, and ever since I gave my information, I got offered by several insurance and loan companies, which I clearly never called before. I'm afraid that it will lead to more problems in the future. Please, avoid this company at all cost, they are really unprofessional, and not to mention, even if the loan got approved (like it should, because again, I was offered the loan), the interest rate is simply outrageous, I don't know if it is even within the law."