Cedar River Finance Co. River Ridge Dr, Cedar Rapids

Thank you! We are so glad we are able to help your clients and provide a service that helps your business!

Nathan - Thank you for your review. We will be sure to update our verification process to include what people can expect to see on their statements each month. We take every step we can to be overtly upfront with the people sent to us for their financing. We send an acceptance email that directly outlines interest rates, fees, length of the term, and your expected minimum monthly payment before the financing agreements are signed or finalized. After the online agreement is signed which also outlines all the terms and conditions, we provide a verification phone call to answer questions and review the terms and conditions in person. You are also sent a Welcome letter and Truth-in-Lending Statement. Since the minimum payment is all a customer is required to pay, and we are required by law to let people know the worst-case scenario by showing them the most they would have to pay. Our statements base the total balance on the full term and minimum payments. If we don't people tend to get very upset by what is considered surprise interest charges. The "weirdly long time" to figure out how much you actually owe is a function of our system. In order to verify the remaining balance, we pull up all the details of the account before providing a payoff. This includes remaining principal/fees, any payments made and interest accrued, which is figured on an amortization schedule, not a daily average balanced like a credit card. Could our system be faster? - Yes! However, we are more concerned with accuracy than speed. Sorry, you did not find working with a local financing company to be satisfactory. While we may not have the technology of the behemoth conglomerate, shady we are not!

Thank you for your feedback. We are sorry you were disappointed with your experience.

Thanks, Haylee! We are so happy we were able to partner with you!

While this review was not for your account or an account you were listed on we do appreciate the feedback. The issues you have raised have been shared with the appropriate parties so they are aware.

Trevor, Thank you for your feedback. We do try to work with our loan holders, as we have with you on many different occasions since you applied for your loan. We did the best we could to work with people during the COVID-19 pandemic. But we were only able to help customers who contacted us. As soon as you responded to our efforts to reach you, we were able to rewrite your account so you are showing current with us and the credit bureaus. We as a policy, do our best to keep monthly payments low to reduce hardships for families, this has been the case before and during this current pandemic. We do, however, expect that money borrowed from us be repaid.