After receiving 9 loans, 8 previous one fully paid off; now Ondeck decided I no longer qualify.I was told that my personal credit had no influence on disbursing loans and now come to find out that it does.
I have been in business with a clean record for 32 years, my personal credit took a hit in 2008 and I have been rebuilding it; mind you it is a completely separate issue with no bearing on my business credit.
I'm happy that my relationship with Ondeck will soon be over, the final loan is almost paid off.Their change of rules is not acceptable, obviously having an excellent track record of repayment means nothing to them.
Reason of review: Change of policy.
Preferred solution: Let the company propose a solution.
I didn't like: Change of policy mid course.