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I was recently approached by Hawkeye Management for business loans. Once we reached the application stage, it changed into LenCred. It seems the two are the same company. One representative called me after I filled out my information. I wrote $8,000 for my 2013 income, which was true. I also told him my typical annual income is $24,000; last year was low because I was abroad. He said I should use $24,000. He asked if I have roommates and added their annual income so that I could have a household income of $70,000. I was not very comfortable but it seemed it's their typical and routine practice. My roommates and I are not related.

And then I got a list of banks to which they submitted my application. I thought there would be just ONE bank for ONE business credit card, but it turned out that they submitted my application to 7 banks (who knows, maybe more), which at least two are for personal credit cards. My credit score is 750+ and I can easily get personal credit cards. It does not make sense that I pay LenCred 9% brokerage fee for some thing I can get for free! It seems some of the banks can approve about $5,000. But who want to manage seven more credit cards? I already have three. LenCred should know better that too many credit cards can hurt my credit score.

So their strategy is to send my application to multiple banks and try the luck. I thought they had resources I did not have the access to but it seems everything they did can be done on my own (the same for everyone else). In their email, they highlighted ”Remember DO NOT mention you are working with a third party.“ This made me uncomfortable. I did not want to lie. A bank called me. I honestly told them the application was submitted by a third party. The bank said they were not aware of that. LenCred's work is entirely based on my own credit score!

So they wanted me to lie about my household income as well as how I applied. This is like coaching me how to fraud. It's against business ethics, and if bad things happen, I have to suffer the consequence of lying. Their manager said they would have collectors to collect $450 from me for a personal credit card with a line of $5,000. Welcome!

My recommendation:

1. Don't trust Hawkeye Management/LenCred. They are not introducing you to a dedicated bank. They just try your luck. You can try you luck too.

2. Don't work with any firms that teach you to lie. Hawkeye Management/LenCred should be removed from you list of consideration.

I attached a screen shot of their email.

I sincerely hope this message can help other entrepreneurs that are raising money. Good luck!

Review about: Business Loan.

Review #521457 is a subjective opinion of a user.

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25000 businesses helped, 17 complaints. And a very detailed response from the Owner of the company n question? WAY TO GO LEDCRED !!! Keep up the good and obviously caring work !!! There's always has to be someone upset about paying a fee..... impressive!
Orlando, Florida, United States #939714
I used Hawkeye Management for credit repair after my divorce, they did an excellent job for a reasonable price. My score increased over 100 points.
When I started with this company I did not know that there were going to put 11 enquires on my credit report, now they have ruin an opportunity that I had to get a loan of $250000 because of their negligence in the way they operate, they just apply as unprofessional which they should know which bureau to apply for in which they have no knowledge of it. I don't think that company such as this should exist for consumer and owner should be in jail by ruin someone else life.
to EAV Atlanta, Georgia, United States #913786
I totally agree. This company can be a pain in the butt. Believe this is just a start. They will keep bothering. I recommend that you report their misbehavior to authorities as I did.
to EAV Capitol Heights, Maryland, United States #927387
Can you explain how you went to Hawkeye if you already had an opportunity to get a loan for $250,000? Also, what company was that loan with? Was it just based on credit also? Thank you in advance for your response!
Yes these people contacted me after I filled out some info online. She didn't tell me over the phone that my loan would be coming from some other bank.... Wow that's a big plus she forgot to add.
I'm staying away from this.....
Tom Gazaway
Gloucester Township, New Jersey, United States #856907
I want to respond to this complaint. My name is Tom Gazaway. I'm the founder of Hawkeye Management. We recently changed our name to LenCred. We are the same company with the same people but we did recently change our name.
As a company with established core values of teamwork, excellence, bottom line performance, and embracing change it is always dis-heartening for all of our 35+ employees and team members for someone to say these things about us. Nobody wins when these types of situations happen with our clients. Over the past 5 years we’ve received formal requests for financing from over 25,000 entrepreneurs and small business owners. We’ve been fortunate that several thousand of those hard working people have become clients of ours who we have helped with their funding needs.
So what about this client who is making these claims? It’s interesting that he did not include his name in his complaint but we do know who this is from. I'll share a few things that were left out of his complaint. Initially, he demanded to one of our advisors that we give him a special deal and charge him less than we charge everyone else for the funding plan that he qualified for. We informed him that we don’t negotiate special deals just because someone wants to be treated different. Some of our funding plans have no fees and some of them have fees. When we charge fees those fees are always competitive and in-line with industry norms. We informed him that we would be fine with
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to Tom Gazaway #869806
Very impressive response, but you should definitely take this guy to collections. He sounds like most of the other whiny babies on this site.
to Anon Miami, Florida, United States #928283
The guy is right because the same thing happened to me and I got the same email.
Brian Casey
to Tom Gazaway Asheville, North Carolina, United States #893121
I will personally vouch for LenCred / Hawkeye Mgmnt. I have been doing business with them for years. In fact, I believe in them so much....I became a referral partner. Don't believe all complaints that you see online, some people are just mad at the world and will take it out on anyone that can find as a "whipping post".

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