Lendvia Financial Review: Is it a scam or is it legit? - Crixeo (2023)

Lendvia Financial is a company that helps people get loans by connecting them with lenders. They provide debt consolidation and installment loans from their network of lending partners. They promote their services on LendviaFinancial.com, where applicants can submit their applications. Lendvia works with lending partners to initiate loan processing.

company overview

Lendvia Financial acts as a broker connecting people seeking debt consolidation loans with lending partners. Although they don't offer loans directly, their "loan coaches" can help borrowers choose the most suitable loan option and offer support throughout the application process.

Lendvia Financial bills itself as a financial wellness organization that helps its clients create a plan to get back on track, as advertised on its website. As of 2019, Lendvia Financial operates from 15303 Ventura Blvd. Suite 1190, Sherman Oaks, CA 91403, and can be contacted at[email protected]or by calling 888-699-3080.

This company uses personalized email promotions to connect with potential customers. You may have received a letter in the mail that was personalized for you and included a message like the following:

We were intrigued by this proposition and therefore decided to investigate whether it lived up to its promising appearance. The following is what we discovered.

• Interest rate: Your loan partners offer fixed rates of 4.99% APR.
• loan amount: Advertise loans from $5,000 to $100,000.
• approval: While they can help you choose the right lender for you, they cannot guarantee that you will be approved.
• Refund conditions: Generally, they will vary from 1 year to 5 years.
• DIN information: Since they are not lenders, you agree to have your information shared with third-party providers in their network when you apply for a loan.

How does Lenvia work?

Lendvia offers access to unsecured installment loans. How Lendvia works:

1. Application process with a "loan coach"

You can consult with your loan coaches, free of charge and with no obligation, to help you complete the application process. This process includes providing your personal information, detailing how much debt you owe, sharing your credit score, and letting them know if you are behind on any payments.

By submitting your information, you agree that your lending partners may contact you by phone, text, or email using any of the contact details you provide now or in the future. This includes any dialing system, pre-recorded voice messages, or automatic dialing device.

2. Choose a lender from your network

Once you've completed the application process, your information will be sent to Lendvia's loan partners to find a loan that fits your needs.

3. Review the terms of your loan

Before you sign any documents or begin the loan process, be sure to review your terms, verify your information, and read the fine print carefully. This will help ensure that everything goes smoothly and prevent potential problems in the future.

Is Lendvia Financial a lender?

Lendvia Financial is not a bank, but a financial institution that works with lending partners to make loans. Although they do not have a banking license, they have access to a network of trusted lenders to obtain loans on behalf of their clients. This means that Lendvia Financial can offer a number of different loan options to suit the needs of its clients.

By working with lending partners, Lendvia Financial is able to streamline the loan application process and ensure that its clients receive timely approvals and financing. In general, Lendvia Financial's association with lending partners allows them to offer a broader range of credit products while providing a high level of service to their clients.

What are debt consolidation loans?

Debt consolidation loans are loans used to pay off multiple debts at once. Instead of having to manage several different debts, a debt consolidation loan combines them all into one loan with one monthly payment. This can be a good option for those who struggle to keep up with multiple payments, as it simplifies the payment process and can often offer a lower interest rate than the combined rates on individual debts.

However, it is important to note that debt consolidation loans are not a solution for everyone and should be approached with caution. It is important to carefully consider the terms and rates of the loan before committing to it and to ensure that it is a viable solution for your specific financial situation.

After research, it appears that Lendvia Financial is a genuine company and not a fraud, despite not having a registration with the Better Business Bureau (BBB) ​​or the American Fair Credit Council (AFCC).

Lendvia BBB Rating

Lendvia Financial does not have a BBB profile, which means that there is no rating available for the company's reputation and trustworthiness. BBB ratings are determined by several criteria, such as the company's track record, customer complaints, and how effectively the company has handled those complaints.

Frequently Asked Questions about Lendvia Financial

What is Lendvia Financial?

Lendvia Financial is a financial technology company that acts as an intermediary between people seeking debt consolidation loans and lending partners. The company partners with lenders across the United States to give customers access to fast, affordable, and personalized financial solutions, even for people with low credit scores.

Is Lendvia Financial a direct lender?

No, Lendvia Financial is not a direct lender. The company acts as a broker, connecting people seeking debt consolidation loans with lending partners.

What types of services does Lendvia Financial offer?

Lendvia Financial mainly offers debt consolidation loans, personal loans and refinancing options. Loans can be used for a variety of purposes, such as credit card debt consolidation, home improvement, emergency expenses, and more.

How does the Lendvia Financial application process work?

The application process is quick and easy and is carried out through Lendvia Financial's online platform, where the user selects the loan amount, term and other information and submits an online form. After evaluating the user's information, the platform will link the user with personal offers from its lending partners.

What are the eligibility requirements for a loan or other financial products offered by Lendvia Financial?

Each lending partner may have specific eligibility requirements, which may include creditworthiness, debt-to-income, and other factors. Typically, users must have a credit score of at least 600 to qualify for a debt consolidation loan.