Navitas Credit
Reviews and Complaints

What started as a great relationship, albeit their loan rates were high it was a simple approval process. After getting into the loan and approaching maturity, my business experienced a significant upset and cash flow nearly fell to zero. This was explained and we continued to work together on payment strategies. However, different people would email my company with demand letters, even though I was already working with an account specialist. They would draft money out of my bank account without my approval and said it was in the contract, when i was clearly making arrangements already with another person.

A case of left hand not talking to right hand, they do not know what is happening in their own organization. I am getting my business back on track, and catching up on payments. This is my 3rd loan with them, the first 2 we had good cash flow, paid them their interest and paid off our accounts.. they minute a business gets into trouble (Albeit we were communicating) they do not work with you. if they do, it comes with threats, and ridiculous fees.. The loan would be paid off in 2 more payments, but their fees added more payments to mature the loan.

I can promise you, my business is returning to its former cash flow and glory, and more loans will be acquired, but never again will I work with or recommend to anyone Navitas credit.. not even to my competition, these guys are very much about their fees, and their interest.!

Horrible Company! Offered no relief during Covid. Recently was 20 days late on 1 payment on a 5 year loan and this company threatens to come take my equipment and then issues a Demand For Balance. I could understand after several missed payment but 1 payment late. I fractured my hand in December and my parents had Covid. As Covid was resurging Navitas still offered no relief to miss a payment so I could catch back up.

Navitas took my loan over from *** Financial of Pa. The first year of the loan was fine. Every year since, they've tried to back charge me for equipment insurance. Any piece I have financed has always been properly insured and Navitas was given proper evidence of coverage. I end up having to get duplicate documents proving my coverage before they will refund my money. I came to this site to see how rampant the abuse was.

Navitas Credit Corp.When you pull you credit report, it will give you your FICO score. Navitas will tell you its something different. There are different levels of credit scores, but generally they use FICO score 8. Supposedly Navitas uses Score 2 and that is used for mortgagees, however the score is never that far off. Navitas will send you information that has nothing on it and will say it came from Experian. They will give you a high rateand say its your credit score when its not. Find another lender or use your own bank.

I will never do business with this company again. 1st off, they kept sending me a notice about my vehicle insurance when it was paid in full. 2nd off, I wanted to paid it off and called them for the pay off and they told me that they had to send me an email with the pay off, then I could call them back as soon as i received the email and I still could not pay it over the phone. They told me i had to either wire them the money or pay by mail. So i paid them via my bank like I always do and now it's taking them 30 days to release my title. This company is a major joke. I have learned my *** and will NEVER us them again.

I Have had loans with Navitas for around 6 years. And bought two trucks and two trails through them. *** is an amazing lady to work with . Her knowledge is impressive. Always kind words. They helped me make it through the 2020 disaster. With the payment relief program. And was prompted in getting everything I needed when I sold one of my Trucks. I've always kept my payments on time. Only one think I wish they would do is report that positive information to the credit bureau . Because after 2020. I could sure use those good marks on my credit. It's been a tuff 2 years. But getting better. With a fight. I do want to thank you for all you have done that saved my bacon.

Do NOT ever work with this corporation. They are not a true lending agency and ultimately scamming business. They take the full amount in interest upfront with ZERO explanation on this. Even if you want to the payoff the amount early, they already put the FULL interest amount into the loan. This is not like any normal loan. Everyone at Navitas is rude and terrible with customer service on being understanding. I own a restaurant in Los Angeles, they did not even care that my business was shut down for 4 months while I tried to get by till we were allowed to be operational again. I hope that others do their due diligence to see all the negative reviews and never work with them. Stay away from these people!

This is a terrible company to do business with. It all began when I purchased LED lightning for my company and was sold on the convenience of financing my purchase thru Navitas Credit Corp. After 3 years of payments and only owing a remaining balance of $1,174.55, I called and asked if I could pay off the balance owed and close the loan. The lady on the phone said it would cost me $50 to request a buy-out amount, which I found hard to believe - but reluctantly agreed to. Some time later I received an email with a Buy-out quote attached for $4,134.00. That's $2,959.45 more then the amount I owe and very upsetting to know that I've been scammed by this company. Companies like this need to be exposed and hopefully my expensive lesson will help you from making the same mistake I did in working with Navitas Credit Corp.

Horrible company. Beware of what you are being conned into. HIGHLY recommend having a lawyer look over may documents etc. before signing anything. They will butter you up and make it sound wonderful, all while not fully explaining the contract so that you will use them for your financial needs. We purchased a piece of equipment that cost $60,000.00 and with a $6000.00 down payment and three months of payments we still owe them 80,000.00 no matter what you pay ALL payments regardless if you pay off early. It's not like a normal bank loan. You will get screwed over. Extremely sleazy way to run a business. For us it was a very HARD lesson learned. I hope this helps anyone out there looking into this company. All I can say is DON'T DO IT. If you can't get a loan from a regular local bank then just wait. I can't believe this is even legal.

I own a young small business. We needed a truck designed for towing, found one, and were offered a loan through Navitas. I've always been told to ask for pre-payment penalties and did so with this loan. I was told there were no pre-payment penalties so I signed everything and planned on refinancing very soon with the local credit union. The out of state location of the truck kept us from using the credit union initially. Now that I'm ready to refinance, I figure out that I don't owe the principle and accrued interest, I owe 48 payments of the payment amount. This means I owe 100% of the interest as if I kept the loan for the entire duration. Technically their wording does not include the word "penalty" so they are not technically lying, but their lawyers have drafted a masterpiece of a "gotcha" contract. This is such a scummy contract. Do not sign up with this company.

I purchased some duct cleaning equipment from Rotobrush and they use Navitas for funding, a lease which i didnt give any thought to. No phone conversation just emails and docusign. I had to email a question concerning the interest i pay and the person who had emailed all the documents Jim Coxen replied he doesnt know, when I asked what was the interest amount per payment he replied you figure it out. Once i found out that if i wanted to pay off the $8000 equipment package I was on the hook for the entire $15,000 i was stunned. No mention ever of this and it may be scantly covered in the contract but come on, they have to base the payment amount on some form factor not just randomly throwing numbers out. Jim Coxen was very arrogant in his replys to my emails and of no help, when i called Rotobrush they only said they had no ideal other than it is a lease stay away from these crooks...

We were delighted with the gentleman who assisted us, appreciated the speed of the loan and the processing time for the wood processor our company was purchasing. However, we are very disappointed in the lack of clarity and communication regarding the terms of the loan. This is a BUYER BEWARE situation! Read the contract, ask questions before signing, assume NOTHING! The representative communicated the rate, the terms and the amount financed as it were a simple interest loan. THIS IS NOT TRUE! We asked if there were any prepayment penalties and were told no. Asked if we could pay off the loan early and he said yes. What he DID NOT say is that we would owe ALL INTEREST even if we pay it off early, This is very deceiving and should be fully communicated before any loan documents are signed. We fully explained that we would pay the loan off in a couple months. So, they received nearly $10,000 in interest from us. NOT A GOOD DEAL AT ALL. If we had known this and really understood this, we would not have done business them. We will never do business with them again.

We had a fire in our business and we had been waiting for a check from the insurance company to start rebuilding. We had no real clear answer on when we would be receiving a check from the insurance company and with the cold weather coming in fast we had no heat in our building and didn't want our pipes to freeze. We contacted the company that we wanted to buy a heater from and asked about financing until we received a check from the Insurance. They put us in contact with Navitas the guy from the company talked to my husband several times on the phone about prices and payments and he asked several times if he could pay it off early with no penalties he said yes it was no problem. The quote total from the heating company was $10,420.00 . We gave Navitas $452.22 for a down payment on 11/2 and went and got our heater. We received a check 11/8 I contacted Navitas to pay it off that day and our payoff is $13,313.73! They said that the were given us a discount of $1,242.75. This place is a scam looking to take advantage of people in hard times NOT to help you. So we paided $3,345.95 to borrow $10,420.00 for 7 days. That money should have went to helping us rebuild are shop not to be stolen from us. WIsh I could given then less then 1 star!

My husband discussed a loan for an APU with a representative from a lending company. He inquired about early payoff penalties and was falsely informed there were none. I personally reached out to clarify the loan terms and questioned immediate payoff penalties. Despite my clear intent to settle the loan within a month, the representative condescendingly misled us about the costs. Contrary to his claims, early payoff would incur full interest charges, amounting to nearly $4000, which was unprecedented in our experience. The demeaning and patronizing interaction escalated, leaving me deeply frustrated and upset with the customer service. After being belittled, I decided against proceeding with the loan and was told my husband must confirm this decision. Upon relaying the situation to my husband, he confronted the representative, who insulted his profession and our decision-making process. We are outraged by the unprofessional conduct and urge others to avoid this company that exploits customers and misrepresents its services.