Lending Bee Review 2026: Renamed TOV Capital, Now a Broker

Why this review exists

People who search “lending bee” are usually about to borrow, or have been called by someone using the name. The first results are the company's own pages, directory listings and complaint sites. What none of them does is put the company's own wording from different dates side by side, or read the one public securities record that exists for it. This page does both, using the California license records, the Internet Archive, the SEC's Form D filings of the affiliated fund and the company's current terms. For the wider market see our guides to hard money lenders in California and hard money loan rates in 2026, and for two comparable reviews written this week, North Coast Financial and Capital Fund 1.

1. Which company this is

The name “Lending Bee” belongs, as far as we can show, to one business: Lending Bee, Inc., 4605 Lankershim Blvd, North Hollywood, California, whose site was lendingbeeinc.com. That address and name are on the DRE record, in the GLEIF record (LEI 549300OLF8CWFOMVJY36, California registration 2648585) and in the SEC filings of its fund. Since 2026 the same site address redirects to tovcapital.com, and the business presents itself as TOV Capital.

Two cautions. First, the DRE record is not a clean rename: it shows two corporations, so the “TOV Capital” on the website may be a new legal entity, not just a new brand on the old one. Tov Capital, Inc. received its DRE license on September 22, 2026. The older corporation remains licensed until 2028. Second, the DRE site warns that some discipline information can be removed from a record under Business and Professions Code Section 10083.2(c), so “no disciplinary action” means none is shown. We did not check NMLS Consumer Access or the California Department of Financial Protection and Innovation register.

2. Lender or broker: the same site, before and after

The most useful fact for a borrower is how the company describes itself, because it decides who is on the other side of your note. We compared three dated captures.

The about page shows the same turn. The December 20, 2025 capture says “we are true private lenders and not bound by institutional guidelines”; the live page says “we are true private money brokers and not bound by institutional guidelines.” The live fix-and-flip page adds “TOV Capital Inc. is not just a broker,” and the portfolio page still says “Thanks to being a direct money lender we are capable of closing deals from $150K to $25 million quickly.” The brokers page still reads “At Lendingbee, we understand that as a broker, your reputation is everything.”

What this means: the company is licensed by DRE as a real estate broker (a corporation license), so “broker” is the accurate legal description. “Direct lender” can be true in practice when a broker arranges loans that its own fund or investors fund. The site says so itself: “At TOV Capital we manage our own fund with a pool of investors,” and the portfolio page says of one loan “We funded it directly, with our own capital!” The point for a borrower is not that either wording is false. It is that the company changed the wording and the floors within five months, so get the lender of record, the servicer and the loan terms in writing before you pay a fee.

3. The terms it publishes

Three observations. First, the pages do not agree with each other: the minimum credit score is 600, 620 or 640 depending on the page, and the borrowers page prints both a 9.99% start rate and “from 8,99%.” The company calls its program tables “informative” and says criteria “may vary,” so ask for the term sheet that applies to your file. Second, the broker fee is a floor (“minimum is 2 points”), not a price, and the page does not say whether it is charged on top of the lender fee. Third, the site gives no rate for any actual loan, so a posted floor is all there is to compare against other quotes. See our hard money loan rates guide for what other lenders post.

4. The ten deals on its portfolio page

The portfolio page lists ten “latest funded deals.” Seven give a loan amount, three do not (San Diego, a Los Angeles refinance and Pasadena). Our counts:

The seven amounts total $10,387,750 with a median of $500,000 (our arithmetic). Most are refinances or cash-out loans, and the page describes no ground-up construction. None of the ten states a loan to value, a rate or points, and the page carries no closing dates. These are the company's selection, so they show what it chooses to feature, not its book. They are also small next to its claim of “over $1 billion” funded, which the company does not break down by year or by entity.

5. The fund behind it: ten SEC Form D filings

The company says it funds loans from a pool: “TOV Capital accumulates funds through LBC Capital Debt Income Fund,” whose members “are purely accredited investors,” and “Our members benefit from 8% returns and low-risk investment’s opportunities.” Those are marketing claims and we do not endorse them. The SEC record is for a fund with a slightly different name, LBC Capital Income Fund, LLC (CIK 1597433), at 4605 Lankershim Blvd, Suite 401, North Hollywood, a California limited liability company. Its Form D is signed by its president, and the first sale was January 23, 2014.

The latest filing reports a total offering amount of $100,000,000, $49,706,823 remaining, no non-accredited investors, no sales commissions or finders fees, and the exemption item 06c, which is Rule 506(c) on Form D. Our reading: the fund has grown every year, mostly by adding investors and raising the minimum from $25,000 to $250,000. The filings are annual amendments, and EDGAR lists none after October 9, 2024 as of November 13, 2026. A Form D shows cumulative sales of securities, not the loans the fund made, its returns or its losses, and it does not say which borrower's loan came from which source.

Two comparisons, both our arithmetic. The fund's $50.3 million sold is 5.0% of the “over $1 billion” the company says it has funded, so most of that volume came from other investors or lenders, or from the fund recycling money over many years. The largest portfolio deal, $4,836,500, equals 9.6% of everything the fund has sold, and the Sacramento loan of $3,166,000 equals 6.3%. For the filing itself, see our guide to how to read a Form D and the 506(b) versus 506(c) census.

6. What the public records do not show

Anonymous complaint-site posts under the name exist; they are unverified and we do not score them. Some BBB reviews describe repeated calls and texts, which is worth reading before you give a phone number to any lead form.

7. What a $300,000 loan costs on its published floor terms

The company posts floors, not quotes, so the example is a floor. Our arithmetic, for a $300,000 loan, 12 months, interest only, fully drawn, at the November 14, 2026 floors:

• Interest at 9.99% for 12 months: $29,970.
• Broker fee at the 2-point minimum: $6,000.
• Lender fee, “average of $2,500”: $2,500.
• Interest plus both fees: $38,470, or 12.8% of the loan.
• Valuation, due diligence, title, escrow and recording are extra; the loan-programs page lists “Valuation, due diligence fees – depending on transaction.”
• At the June 2026 floor of 8.99%, interest would have been $26,970, so the one-point higher floor adds $3,000 a year on this loan.
• Each extra point of broker fee costs $3,000 on this loan.

Ask whether the broker fee and the lender fee are both charged, whether the 3-to-6-month prepay period on the borrowers page applies to you, and what the extension fee is if the 12-month term runs out.

8. What a reader can do with this

• Look up DRE licenses 01445206 and 02448446 on the DRE public lookup yourself, and ask the company in writing which corporation will be on your loan documents, who the lender of record is and who services the loan.
• Ask for a written term sheet with rate, points, broker and lender fees, term, prepayment, extension fee and default interest before paying any fee, and keep the June to November wording changes in mind when comparing it with an older quote.
• If the loan is funded by the affiliated fund, ask what disclosures the fund gives investors and what happens on default; the fund's Form D tells you only how much it has sold.
• Compare against at least two other quotes on the same deal, including a lender that posts its pricing, and check NMLS Consumer Access and the DFPI register before you sign.

Sources: California Department of Real Estate public license records for License IDs 01445206 and 02448446, taken November 13, 2026; GLEIF LEI record 549300OLF8CWFOMVJY36; company website pages (home, about, loan programs, borrowers, brokers, fix and flip, FAQs, portfolio and contact), read November 14, 2026 at tovcapital.com; Internet Archive captures of lendingbeeinc.com (June 18, 2026) and lendingbeeinc.com/about (December 20, 2025); SEC Form D filings of LBC Capital Income Fund, LLC (CIK 1597433), accessions 0001597433-14-000001 through 0001597433-24-000002; SEC EDGAR full-text search; CFPB HMDA Data Browser filer lists and loan data for 2024 and 2025; CFPB Consumer Complaint Database; BBB profile (secondary, read through a page-reading tool). Quoted text is verbatim from the saved pages. Figures labelled “our arithmetic” are calculated by us. This is analysis of public documents, not investment, legal or tax advice. Compiled by CrowdfundedWealth on November 14, 2026.