Client Review on ForwardLine

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DON'T WASTE YOUR TIMEI've had a profitable company for 16 years. Went LLC (from sole proprietorship) 2 years ago and was looking to establish credit for the company.Probably due to the structure change, I was sent some junk mail from Forwardline, offering "up to $150k" and thought I'd take a loan and buy some new equipment for the company, since we just got approved on a $2m government contract and could use the influx of capital to get us started.After two weeks of giving them a ridiculous amount of information - including a copy of my driver's license (weird because I was applying for the company - this is not a personal loan), three months' bank statements (which showed the company had more than $140k sitting in a liquid checking account), a business license from 2006 (the oldest I still had) in order to prove the company's age, and countless phone calls and emails... They offered $5k... Less than our average day's revenues....But that's not all - the repayment schedule was to be over just six months and would require making a payment to them EVERY WEEKDAY of about $60... With "fees" of something like $1k... Which is an effective interest rate of about 40%!!Insane. Not even sure how they can do that legally.What's worse is that when I talked to "Sammy" at Forwardline, his response was that this offer was somehow my fault... That my personal credit score of 635 was "weak." In case you don't know, 635 is considered "good," with scores under 620 as "fair." There is nothing "weak" about a 635... Sure, it's probably a B-, but to respond therefore with an effective interest rate of 40% is downright insulting.Two months ago my company was approved for a mortgage on a new business office in the amount of over $600k. That's a 30-year mortgage at about 8%... Not the greatest, but not too bad... The offer was from one of the banks that we do business with... I just figured that I could get something a little smaller for equipment instead - we don't really need the big mortgage of a new office... We need equipment.In the long run, I'll probably buy the new equipment just like I've bought new equipment in the past: Go work for it. Get the money, and buy the stuff. It's amazing how much negotiating power comes from having the cash anyway.Forwardline? Y'all are a bunch of losers... What an insult to me and my company. Why's my personal score coming into play anyway?No matter - rhetorical question. Thanks for demonstrating exactly why I haven't done business with you in the past....And you'd have not gotten this bad review if you'd have not sent me the junk mail in the first place... But you could have made up for it with a rational offer.I wish I'd looked at your Google Reviews before wasting my time. 2.6 stars? Are you kidding me? And you tell ME that I have a "weak" credit score!? That's hilarious.See ya. I'll keep y'all in mind when I tell my stories of how I built this company.Sincerely, SeaJay BayneDEEP SOUTH DIVERSSavannah, GAEDIT: A response to the response from Forwardline below..."Thousands of customers?""A quick and easy process?"Look... You've got six reviews. That's it... Don't BS me. If you had thousands of clients, you'd have more reviews.Also - you have a 2.3 out of 5 stars. Who are you kidding? We think you suck. I suppose that's my fault too?I don't know how you get around the legalities of charging 40% on loans... Clearly you skirt the law by calling them "fees" and not "interest - but the bottom line is that a loan would have been over 40%. You're smokin' crack!Don't lecture me about your "credit decision." You approved me. Only after the approval did you disclose the cost and repayment schedule, which is downright slimy. No, I'm not going to take a 40% loan due back to you in six months with a DAILY payment schedule.What a bunch of sleazeballs.Why would I "call you" and "discuss" anything? No thank you.People: Beware the shiesters.