How Loot used Trustpilot to build trust and grow with small businesses

The story behind Loot

Loot is a Boston-based online lender intent on bridging the gap between small businesses and access to working capital. Focused on supporting long-term growth for small to medium businesses (SMBs), Loot developed innovative tools, like T-Score, which SMBs use to monitor and build credit over time. 

Reflecting on what their customers like the most about using Loot, Customer Experience Officer, Luke Peake says, “they like our helpful, responsive support team and how clear and straightforward the whole experience feels. It’s fast, simple, and stress-free—exactly what small business owners need when managing cash flow, because they’ve got enough on their plate already.”

How Loot uses Trustpilot to create transparency

A great support team is essential in the financial space, as is trust, says Peake, “in an industry where trust can be the difference between financial stability and unnecessary risk, our reputation directly impacts customer retention, word-of-mouth referrals, and long-term growth.” On the customer side, for many small businesses, finances and loan applications can feel overwhelming. 

For Loot, putting small businesses at ease meant creating a transparent environment where the voice of the customer was amplified throughout the customer journey. Trustpilot helped Loot provide unfiltered social proof in the form of customer reviews. 

“Trustpilot plays a key role in that effort, offering unfiltered social proof through verified customer reviews. “When potential customers see honest feedback from other business owners who’ve had clear, positive experiences with Loot, it helps demystify the process and reinforces that we’re a trusted partner, not a risk,” adds Peake.

Utilizing the power and flexibility of Trustpilot reviews 

Once a business becomes a Loot customer and receives funding, they’re invited via email invitation to leave a Trustpilot review. There’s also a Trustpilot module on Loot’s customer portal that encourages users to share their experience. Loot welcomes all reviews – positive or negative – and uses them both for continuous product growth. 

“One piece of feedback we’ve seen is a request for a clearer dashboard, especially for customers with multiple draws and repayments. We took that to heart and launched a more intuitive dashboard experience that makes it easier to track everything in one place. The response has been overwhelmingly positive, and it’s a great example of how we turn customer feedback into action,” says Peake.

But Loot uses the Trustpilot platform for more than reviews. Since onboarding, the Loot team has found value in Trustpilot’s additional features, including TrustBox Widgets embedded in ads, landing pages, and emails, as well as tools like Review Invitations and Trustpilot Analytics. 

Something Peake says has produced significant results. “Featuring real reviews has increased conversion rates, improved ad and email performance, and strengthened our overall brand credibility. It’s also a key feedback channel we use to refine our product and customer experience.” 

Coming up next for Loot and Trustpilot

Loot plans to deepen its integration of Trustpilot across the customer journey, including channels like paid media, email, and landing pages. “We’re also exploring ways to integrate more Trustpilot features into our product and website to keep that trust front and center throughout the customer experience,” shares Peake. 

He also acknowledges the broader impact of the platform: “One thing we really value is that Trustpilot isn’t just a resource for us—it’s a resource for the entire SMB community. It gives small businesses a voice and helps them make informed decisions in a space that can often feel confusing or high-stakes.”