Dakota Financial, LLC - Los Angeles (CA)

1 /5 Anna Petrenko: Please don’t use them—not even as a last resort. What they offer isn’t a loan, it’s a lease disguised as one. They’ll promise you the option for early payoff, but when you ask for a quote just a few months in, they’ll demand the full amount of all future payments. We put $35,000 down and financed $50,000. After just three months, they told us the payoff amount was $90,000—even after applying an $11,000 "early payoff discount." The down payment we made didn’t reduce that amount at all. We agreed to the deal because they claimed we could save on interest by paying early. But the interest rate they charge exceeds legal limits. And because it’s a commercial transaction, there are no legal protections—this kind of predatory practice is technically allowed. They prey on small business owners when they’re most vulnerable. Please—wait, save more, and go through a real bank. Don’t let them trap you the way they trapped us.

1 /5 David Victor: I’m a customer of Dakota financial and was referred to me by my Ryder’s sales rep. I decided to then go with them instead of other offers, because rep told me there were good to work with, which I soon found out, not in my case. I left my 9-5 to pursue my trucking business and is currently on the brink of losing the truck that was financed through them. Once the down payment is made, you are completely on your own, which includes enormous amount of follow up calls and emails reminding them that you are still their customer. I purchased the truck on Nov 13th. Dakota just processed the title 01/15/2025 and was told I can finally get my plates and register the truck. The Secretary of State was not able to help me get plates or won’t register the truck. I was told to contact Dakota because they did not finish everything on their end. I called them and they suggested I got to another SOS and gave me information to a private company that will give me plates. I called the private company that Dakota gave me and they can’t even help me and referred me back to them. Small business owner, 1st truck, 8k already in insurance and I still have to pay them for a truck I cannot drive.

1 /5 Dmytro Stavinskyi: Do not use this company—under any circumstances. They lure you in with the promise of a loan and early payoff options, but what youre really signing is a lease. We put $35,000 down and financed $50,000. Three months later, when we asked for a payoff quote, they demanded $90,000—even after applying an $11,000 early payoff discount. Our down payment meant nothing. We agreed only because they assured us we could pay it off early and save on interest. But the interest rate theyre charging exceeds legal limits. And because its a commercial lease, there are no protections—you can’t challenge it in court the way you could with a consumer loan. This is predatory lending disguised as a business transaction. Their model is designed to exploit and cripple small businesses at the start. Youre far better off waiting, saving more, and getting a proper loan from a reputable bank.

1 /5 Anna Petrenko: Please avoid working with them, even as a last resort. They will mislead you into signing a lease instead of a traditional loan, claiming you can pay it off early. But when you request a payoff quote just three months later, they’ll demand the full remaining balance—completely disregarding your previous payments. We put $35,000 down and financed $50,000. Now, after three months of payments, they’re asking for $90,000 to pay it off—even after applying an $11,000 early payoff discount. That’s right: $90,000 for borrowing $50,000. We only agreed to this deal because they promised early payoff options to save on interest. But it turns out the interest theyre charging exceeds legal caps—and because its structured as a commercial lease, there’s no consumer protection. This is legal fraud. Predatory lenders like this target small businesses when they’re most vulnerable. Youre better off waiting, saving more, and getting a legitimate loan through a reputable bank.

1 /5 Anna Petrenko: Please, do not use them. Even as a last resort. They will trick you into a lease instead of a loan, and promise early payoff, but when you ask for a payoff quote 3 months later, they will ask for all of the payments. We put 35k down, financed 50k, and now, to pay it off, they ask 90k, and the down payment we put is irrelevant to that amount. And that is with 11k discount for early payoff Thats right, 90k for borrowing 50k after 3 months of payments. The only reason we agreed, is because we were promised an early pay off to save on interest. And apparently, the interest isnt even legal, because its above the interest cap. And the worst part, is that this is a legal fraud, and you cant battle it in court, because commercial transaction dont have protections against predators. These are predatory fraudsters, who exist to destroy small businesses in the beginning. Wait, save up more, and get a real loan from a real bank.