GCR Capital ripoff artist, do not send any advance fee Safety Harbor Florida
I sent $6,895 as a deposit for $75,000 of equipment financing for a hotel I own. This was a straightforward transaction. I spoke at length with John Grant and Lenny Freeman. As requested, I sent detailed invoices via FedEx. The company never called me back or sent lease documents, as promised. After three months of speaking with John Grant and Lenny Freeman, I left six detailed phone messages for Judy DiVincenzo (President) requesting a return of my deposit. She never responded to a single message. I then sent a certified letter to Ms. DiVincenzo demanding a return of my deposit. She never responded. After six months from the time of my deposit, I hired an attorney and contacted the State Attorney. Finally, Ms. DiVincenzo sent me back $6,500 and kept a $395 fee for doing absolutely nothing.
This company claims to have financed some big institutions and corporations. Beware. Ms. DiVincenzo is a dishonest person who will not respond to your communications once she has your money in her pocket. By the way, I had AFG (American Financial Group) finance the deal in one week after I had given up on GCR. I hope that no one else has to endure the dishonesty and frustration that I experienced from GCR and Ms. DiVincenzo.
Michael
Ft Lauderdale, Florida
U.S.A.
2 Updates & Rebuttals
Dercilio
Boca Raton,Florida,
U.S.A.
Unbelievable!
#3Consumer Comment
Wed, December 26, 2007
You're full of it. Now I know that it is against the law to request down payment for a loan but, obviously, you're "investors". Anyways, I can't believe you're still open!
A couple of us were able to hire an attorney and get our money back...most already considered the money lost. Their loss your gain, huh?
Attention all, if you sent the money via FEDEX you can open a lawsuit on your state or town. No need to go to Florida!
Nicole
Safety Harbor,Florida,
U.S.A.
In Response to Allegations Against Our Company
#3UPDATE Employee
Fri, January 27, 2006
GCR Capital receives sometimes as many 400 applications a month and last year alone funded almost 10 million dollars in applications for businesses across the country.
Although it is unpleasant to hear that some clients are unhappy with our company, obviously many more are extremely pleased with our services based on the amount of transactions we receive and fund.
We pride ourselves in working with several niche groups; once such group includes harder to fund transactions, which typically have less than average credit or time in business. Unfortunately these individuals also seem to be less likely to understand typical parameters of a business financing transaction and take normal problems extremely personally. Often we find misunderstandings ensue purely because someone did not take the time to read their contracts, or pass them to a qualified person for review if they did not understand them.
We do not believe we are exempt from mistakes and try extremely hard to make things right if that happens. However, we also deal with many problems from our clients that create hurdles that we try to work with. Leaving off the names of guarantors with bad credit, overestimation of time in business, wanting money for other than the reason stated, are typical things we see every day. The list could go on and on, but suffice it to say that each client believes that when they are doing something, that they are right in doing or feeling the way they do about the situation, and often their re-telling of the story is not exactly the way the notes in the files describe the situation. Belaboring this point can become a he said, she said which rarely has value for either side. Typically we find it best to act within the parameters of the contract they signed in resolution, which may or may not make that client happy with the situation. As a small example, we have people who are unhappy when a refund does not include the processing fees; almost every leasing company, bank or financial institution charges a non-refundable processing fee. This is hardly unusual, or cause to believe that we are in some way unethical, and is very clear on our documentation.
My hope is that your readership realizes that there are two sides to every story. It is very difficult to see one's name in print citing a something negative, however experience has taught us that not every one will be happy, but we take pride in knowing that the list of happy clients far, far, exceeds those that feel they had a bad experience.
Sincerely,
Judy DiVincenzo, the Board of Directors, and the Staff of GCR Capital