Quick Answer: Try Pennie (also known as Pennie Financial) is a for-profit loan marketplace and lead generator.
Before You Read This: I want to be upfront about what this page is and isn’t. I’m not an investment advisor, and I’m not rendering a verdict on Try Pennie. This is a research guide — I’m showing you where to look so you can reach your own conclusions based on current information.
If you find something in the public record that concerns you, post it in the comments below. If you’re evaluating their contract, use my free Contract Decoder tool.
If you represent Try Pennie and something here is inaccurate, contact me and I’ll review it promptly.
If you have inside information you feel you need to share with me privately: don’t. Whatever you want to share should be posted in the comments — by you, with your name attached. I’m not willing to be anyone’s conduit for information they won’t stand behind themselves.
The most valuable thing on this page may not be what I’ve written — it’s the comments section below. People who’ve actually worked with Try Pennie share their experiences there. I’d encourage you to read them and add your own.
Who Is Try Pennie?
An educated consumer is our best customer.— Sy Syms
New here? My Ultimate Consumer Guide to Checking Out a Debt Relief Company walks through how to vet any financial company before you sign anything.
Try Pennie is a for-profit loan marketplace and lead generator company. Rather than repeat what they say about themselves here, I’d encourage you to read their own website and state business filings — that way you’re seeing it directly from primary sources, not filtered through me.
Step 1: Check Their Credentials
Before anything else, understand exactly how they operate and verify they have the credentials they claim. Here’s what to check:
- Lender vs. Lead Generator: Confirm whether Try Pennie is directly lending money to you or matching you with third-party lenders and service providers. These are very different business models — a lead generator gets paid for referring you, regardless of whether the product they refer you to is right for your situation.
- BBB Profile: Search for Try Pennie on the Better Business Bureau — check for any existing profile, complaints, and how they’ve responded.
- State Licensing: If they’re operating as a lender or broker in your state, they should hold the appropriate license. Search your state’s financial services regulator for their name.
- FTC Compliance: Lead generators handling consumer financial data are subject to FTC regulations, including requirements around data sharing disclosures. Check the company’s privacy policy to see who they share your information with.
A Note on BBB Grades: A high BBB grade doesn’t necessarily mean a company is right for you — it means they respond to complaints filed through the BBB. Read the actual complaint text and the company’s responses. That’s the useful part. See my full guide to what BBB letter grades actually mean →
Step 2: Check Consumer Complaints
The Consumer Financial Protection Bureau maintains a public database of complaints filed against financial companies. You can search for Try Pennie directly:
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Search Try Pennie’s complaint history in the CFPB database →
When you’re reading complaints, look for:
- What the complaints are about — misleading advertising, data sharing, unexpected third-party referrals, or bait-and-switch?
- How the company responded — did they resolve issues or just close them?
- Whether the same issue appears repeatedly — a pattern matters more than a single complaint
- Whether complaints involve the original company or a third party they referred you to
Step 3: Read Their Trustpilot Reviews
You can find Try Pennie’s Trustpilot reviews here. A few things to keep in mind as you read:
How to read Trustpilot like a pro: My complete guide to spotting red flags in Trustpilot reviews breaks down exactly what to look for — including how to identify review solicitation campaigns and reputation management tactics.
- Pay attention to what the 5-star reviews are actually about. If they’re praising a friendly phone call — that’s interaction quality. Compare those against reviews that describe what happened after they were referred to a third party.
- Read the 2- and 3-star reviews carefully — these tend to be the most honest, from people who had mixed experiences and aren’t trying to tear the company apart
- Look at how the company responds to negative reviews — a defensive or dismissive response tells you something
- Check the review dates — a flood of 5-star reviews in a short period can indicate a solicitation campaign
Step 4: Check Their Legal and Enforcement History
For-profit loan marketplaces and lead generators are subject to enforcement actions from federal and state regulators. Here’s where to look:
- CFPB Enforcement Actions: Search the CFPB’s enforcement action database for the company name and any affiliated entities
- FTC Actions: The FTC publishes all enforcement cases — lead generators in particular have been targets of FTC actions for deceptive practices
- State Attorney General: Search “Try Pennie attorney general” or “Pennie Financial settlement” — many enforcement actions happen at the state level
- Federal Court Records: CourtListener searches 1.3 billion federal court documents for free — no registration required. For the official PACER system with complete case filings, see my guide to using PACER.gov.
Context Matters: A company that has faced enforcement action isn’t automatically disqualified — what matters is what the action was for, whether they resolved it, and whether the behavior continued. A company that’s never faced any scrutiny in a highly regulated industry may just not have been looked at yet.
Step 5: Ask the Right Questions Before You Apply
Before signing anything: Run their contract through my free Contract Decoder tool. Paste it in and get a plain-English breakdown of what you’re agreeing to.
Before you submit your information to any loan marketplace or lead generator, get clear answers — in writing — to these questions:
- Who specifically will receive my personal and financial information when I apply?
- How do I opt out of having my information shared with third parties?
- Is Try Pennie the actual lender, or will I be referred to one or more third-party companies?
- What are the full terms — APR range, fees, loan duration — of the products I may be offered?
- If I’m referred to a debt settlement company instead of a lender, what fees apply and what are the risks?
- How long will my information be kept and shared after I apply?
Before You Commit: A personal loan or debt relief referral isn’t right for every situation. Run your situation through my Find Your Path tool to see which option — a loan, settlement, bankruptcy, or another path — fits best.
Key Takeaways
- Confirm whether Try Pennie is a direct lender or a lead generator before submitting your information
- Read CFPB complaints for patterns — not just raw numbers
- On Trustpilot, look for reviews about what happened after referral, not just the initial contact experience
- Check CFPB and FTC enforcement history, and search for state AG actions
- Get clear answers about who receives your data and what your opt-out rights are before applying
- The comments section below contains real experiences from real applicants — read them
Want the full research playbook? My Ultimate Consumer Guide to Checking Out a Debt Relief Company covers every tool and source in this guide — plus detailed walkthroughs for reading BBB profiles, spotting Trustpilot red flags, and searching federal court records on CourtListener.
Frequently Asked Questions
Is Try Pennie a nonprofit?
No, Try Pennie is a for-profit company.
How do I file a complaint against Try Pennie?
You can file a complaint directly with the CFPB at consumerfinance.gov/complaint. You can also file with your state attorney general’s office and the BBB. Filing with the CFPB creates a public record and triggers a required company response.
Is Try Pennie a direct lender?
Based on their public website, Try Pennie describes itself as a loan marketplace that connects consumers with lenders and other financial service providers. I’d encourage you to read their terms of service and privacy policy directly to understand exactly what happens with your information when you apply.
What does Try Pennie do?
Try Pennie operates a loan marketplace platform. Their own website is the most accurate and current source for how their platform works, what products are available, and what happens to your data — I’d recommend reading it directly rather than relying on any third-party summary, including this one.
Should I apply through Try Pennie?
That depends entirely on your situation. Run it through my Find Your Path tool first to see whether a personal loan — or another approach entirely — is right for what you’re trying to solve.
Share Your Experience with Try Pennie
If you’ve worked with Try Pennie — as a borrower, a former employee, or someone who looked into them and decided not to proceed — I’d encourage you to share your experience in the comments. Your perspective helps others make a more informed decision.
To share your experience: Scroll to the bottom of this page — the comments box is there.
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
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