Cross River レビュー 57

They used people to profit off of PPP Loans. Everyone with an issue should report them to Small Business Administration (SBA) Office of the Inspector General (OIG).

Horrible experience and going on 2 years of trying to get answers due to their numerous errors. They continuously try to charge interest when the loan is deferred until SBA says different. There should be a class action lawsuit brought against them and cross river bank!

On April 15, 2022, I was approved for a $7,000 hybrid loan from SeedFi. $4,000 available immediately, and $3,000 secured in a 'locked' savings account (held by Cross River Bank). The monthly payment was $320.00, which I kept current. On December 03, 2022, I received an email from SeedFi stating that my loan was being taken over by their 'trusted partner', SST. The monthly payment was still $320.00, which I kept current. On February 27, 2023 I decided to pay the loan off and have the savings account unlocked. I initiated a payment of $4,098.18 which was processed, and deposited, by SST on February 28, 2023. I immediately called SST and asked them to release the lock on the savings account so I could access the much-needed funds. Was told they would unlock the funds and have it deposited to my checking account as soon as possible, but no later than March 22, 2023. It is now the end of business on March 22, 2023 and I still do not have the funds. Furthermore, SST outright lied on an email to me about the payoff of the account, claiming it was 03/16/2023 (please see attached document). The payoff was 17 days earlier. Furthermore, SST initiated an auto-withdrawal from my checking account AFTER I paid off the account even though I have called numerous times informing them the auto-withdrawals need to stop immediately. In total, SeedFi/SST/Cross River Bank owes me $3,328.86, DUE IMMEDIATELY.

This Bank apparently oversees the operation of a so-called 3rd party "Partner" known as AFFIRM, Inc.
I was recently made aware of this fact in the form of an email response to a formal complaint filed against AFFIRM due to their demands to provide photos of my personal identification (Driver License, Passport, etc.) and also a photo of myself, simply to update my phone number that I recently changed. I've refused to submit to the demands and therefore have been locked out of my online AFFIRM account for almost 2 months. I cannot manage my payments for financed items that I purchased via AFFIRM financing. Now I'm behind in payments and expect they will damage my Credit Rating as a result. Furthermore, they have already updated my new phone number in their system but I am still denied access because I don't provide the photos that I suspect will open me up to I.D. Theft in the event that they sell my information for a profit. I've got 3 Government entities involved in this matter because AFFIRM personnel have been unbending in their demands for photo images of myself and my I.D. just because I changed my phone number. On multiple occasions, during phone conversations with AFFIRM Reps, they sent a 4-digit code to my phone as a text message which was immediately verified by me as we spoke. When I attempt to log into my online AFFIRM account, my new phone number receives the code as usual but will not allow me access until I provide the photos as they demand.

I've not applied for a loan from this company, yet I received a letter informing me that I have been denied, what a hoax !!!!!

Now, I need to check with Experian, to determine the reason was denied, even though my score is over 700. LOL.

I've never gone to them, for anything, and after this, I never will.

BEWARE !!!!!!!

So..I am a sole proprietor. Care Taker/ Cleaning Lady. Around Febuary 2020 small guys like me could apply for PPP loan. I was approved. 7500.00. I used the money correctly and my business is open. I am still my only employee and I am still working and trying to rebuild. Cross River Bank denied me forgiveness because they say I don't qualify as per the old rules for PPP..which changed around Feb 2021. I use quickbooks and Turbo tax. Long time customer. So Quickbooks Capitol says I don't qualify for any forgiveness. I appealed but with no numbers to real humans ultimately I was arguing with an A I who provided only one answer to any questions. Then Quickbooks opened the SBA PPP LOAN FORGIVENESS PORTAL . I applied for forgiveness. Over a year has passed with no correspondence. Yesterday, I went to get gas and all my accounts we locked. Credit cards too. They withdrew the 7500 and looks like fees too. I have done some research..and Cross River on behalf of Quickbooks Capital did not turn in my SBA forgiveness paper work and as of now I can't appeal because the SBA never seen the paperwork hence no decisions either way. I am trying to figure this out. It feels like fraud to me and I am employing the advice of the SBA, my bank and some lawyers. I am sure I am not the only small fry that Cross River/ Quickbooks Capital is taking advantage of and frauding.

I have had just a few nightmare situations with various companies over the years. This one though, Sunlight Financial together with Cross River Bank, deserves a special mention. I am so sorry that I used this institution for my solar loan. They are completely unresponsive to customer service requests. Look out - they'll ghost you too.

Scammed us using PPP. Lied to us. Said we wouldn't get forgiveness and then took more money than they paid out. Do not trust Cross River.

I am receiving notices that I was denied. I have never applied to this bank. Upon researching, I keep seeing comments about a PPP loan. I have never received anything from that program.

helli i just apply for this bank and i got aprove and now i see all reviews here saying many bad things what i should do . i notice all info is done already and many many scamers around wolrd and no gov doabout this issues . util someone kill some scammers seriously

They used people to profit off of PPP Loans. Everyone with an issue should report them to Small Business Administration (SBA) Office of the Inspector General (OIG).

SBA clarification states that "As long as a borrower submits its loan forgiveness application within ten months of the completion of the Covered Period (as defined below), the borrower is not required to make any payments until the forgiveness amount is remitted to the lender by SBA."

You should not have to pay them in advance of remittance by SBA. It's straight up fraud.

I would give them zero stars if I could!! Horrible experience getting my money out. It’s already been 2 weeks and don’t even have half of it out. I’m about to lose my dream home because escrow was already supposed to close but I can’t get my down payment to them because of this bank! They don’t even care and only send automated messages. They say to initiate transfers from my external accounts and then deny them. I regret ever doing business with this bank. Don’t do it! Put your money elsewhere!!

I don't even have an account with cross river bank and I just received an email saying is in that I am in default.

This is the Worst Bank known to Man. I was approved for ppp on 3/13, issued a loan number and money sent to my bank Pnc... I had closed my account with Pnc bank and reached out to cross river bank to let them know and make sure they would send to my other account and they agreed by sending over new account number form. I signed form with new account information and even uploaded my bank statement showing the account had been open for years. Thought all was great but then I never received money. I called over and over to to crb to make sure all was well with new account information. Keep in Mind of course my money had been sent out to Pnc bank on March 13th to my old bank and I just needed it to go to the right bank. For weeks I kept getting the runaround then suddenly I get a message I was denied.... how when u had already sent out the money but to the wrong account and I signed the form you as me too with new account information. I checked my sba account and it still shows active account Undisbursed as of 6/3/21 even after they have said I was denied. I will be getting an attorney. Not one thing is fraudulent about me applying I have all my documents in order. I want my money and according to the SBA I have a loan and CRB needs to give me my money. I see I’m not the only person going through this with CRB and of course they go dig up something from and underwriters to try to make themselves look good. My attorney will figure out what up with mine and all the others that are going through this as well. This has caused me to miss out on other opportunities to receive ppp because they so lazy I’m still in the system after numerous of lies that I would be out. I have or had no reason of denial and 3 months later still nothing. But when they sent to the bank in March I was approved. Make it make sense please!!!!

Worst bank ever. I received a PPP first draw loan from Cross River Bank before the SBA changed the rule regarding how the loan amount is calculated. My loan amount was based on net income (line 31 on my IRS Form 1040, Schedule C), but the SBA changed it to gross income (line 7 on Form 1040, Schedule C) after my loan was approved.

Cross River Bank has decided that they will not do anything for people who applied and were approved before the change, thus screwing people out of this money! According to the SBA, there is a SBA Procedural Notice that explains how lenders may allow people who applied for PPP early to receive the full amount they qualify for, but Cross River is refusing to help people acquire the full funding for which they qualify. Avoid this bank!

Like the rest of you I applied in Feb and I'm still waiting on documents to sign, I really can't believe they can get away with treating us like this. It's been over 65 days.

Can I change my account number after the application is approved

Same as the guy below. they did my round 1 good and then round 2 they held me up almost 1 month and then denied me for no reason. Told me to re-apply and good luck!

The worst customer service I have ever experienced. My application sat in the system as pending for weeks, I could not get a hold of anyone by phone or email, and finally today, my application was denied without any reason. Beware of Cross River Bank. Communication is non existent! Express your concerns on their Twitter page! Contact the BBB! Let it be known to all how horrible this bank is at communication!!

This company CRB is a complete fraud I was issued 2 PPP loans to have them rescinded 20 days after the Broker we used REVENUE-D had been submitting bad applications. Our application and paperwork were spot on with no errors prior to sending them over to REVENUE-D. After calling CRB and Filing a BBB complaint the response was vague. See Below
Matthew Steinman- REPLY to the BBB
Dear Ms. Croux:
We investigated the complainant’s allegations that Cross River Bank (“CRB”) falsely alleged that the complainant committed wire fraud and falsified documents for a Paycheck Protection Program (“PPP”) loan, and as a result, Chase Bank froze their accounts.
CRB is unable to provide additional information. We apologize for any inconvenience; however, the complainant must address the matter with their financial institution.
CRB is dedicated to excellent service and handles all complaints seriously. If there are further questions or concerns, then we welcome you to contact us.
Sincerely,
Mathew Steinman I CHIEF COMPLIANCE OFFICER
T 201 808 7165

I do not recommend this company for your PPP loan. Their system is frustrating and they lack service delivery. Nothing about receiving feedback was shared. Not a system that is fluent and effective.