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LoanBack Review

    Jason Vissers
  • 5 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Jason Vissers

Jason Vissers

Expert Analyst & Reviewer at Merchant Maverick
Jason Vissers has been researching, analyzing, and writing about small business software and finance since 2015. His financial expertise has been cited in numerous publications, including The Ladders. Jason graduated with a Political Science degree from San Diego State University in 2001.
Jason Vissers
View Jason Vissers's professional experience on LinkedIn.



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5 Comments

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    Daryl Harper

    Best value website for the specific thing that it does which is to say a website that allows someone to codify a loan and track payments. I’ve done three private mortgages for family members where I am the lender and Loanback allows me to track them all. Yes, the website was lacking attention for awhile and either the site was down or the payments (and therefore creating a new loan) was down but it seems to be back up now.Some things that should be fairly easy to implement to improve overall functionality are: 1) implement a “Payoff” function that creates a payoff amount and associated daily interest charges for that happy time when a borrower can pay off their Promissory Note and 2) implement an annual “report of interest paid” so that a borrower can use that report to include on their IRS tax return and 3) allow borrowers to report good (or bad) payment behavior to the credit reporting agencies so that credit scores can be impacted by payment histories.All in all a good value.

    4
      Brian

      Loanback has been a helpful tool in the past but unsure if it continues to be in business. From mid-March through early April it appears that only their home and loan landing pages are up … nothing past the sign-in page is working, including help pages, purchasing of product/agreement, loan maintenance, account, and all other pages. It’s frustrating as it’s been this way for more than 2 weeks and there is no relevant information published anywhere online that I can find via Google regarding issues with loanback’s site or whether they have closed.

        This comment refers to an earlier version of this review and may be outdated.

        Candace C Hiller

        The other day I logged onto Loanback to create a loan agreement and the website seemed to be functional. Now, I am just getting an error message leading me to believe the company is having problems with their website or they have gone out of business. Do you happen to know?

        Basically all I’m trying to do is create a loan document that is binding . . . and offers a repayment schedule in the software.

        Thanks

          This comment refers to an earlier version of this review and may be outdated.

          Jessica Dinsmore

          Hi Candace,

          Unfortunately, we do not have any inside knowledge on the disposition of their company. Their website does seem to be up and running at last check though!

            This comment refers to an earlier version of this review and may be outdated.

            James Sponaugle

            I’m a current customer of Loanback. They’ve had some problems this month ranging from being completely down, to now showing a message saying they’re having a technical problem once you log in. When it was down a week or so back I contacted them via facebook (couldn’t get to any other support channel at that time), and they responded that they were having some server problems and that it was being worked. They didn’t mention any ETA, but I may try to contact them again today to see if they can provide one. As such, don’t think they’re out of business, but they are just having some kind of significant technical problem.

              This comment refers to an earlier version of this review and may be outdated.

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