Matrix Business Capital Ability Capital Solutions This Company is a SCAM! Internet
Unfortunately, I had the EXACT SAME EXPERIENCE as the other complaints registered on Rip Off Report. I go the "bait and switch" first, where I was offered a very good deal and then when they couldn't produce that interest rate/deposit, I was offered a much higher rate and deposit. Of course by the time this had happened I had invested over a month of time AND I was trying to meet deadlines to open a new business. I should have bailed then but I didn't have more time to invest and I was assured that my vendors would receive purchase orders within the week. So, they took my money. Then I went through a series of unreturned calls; three word emails like "we're on it"; people in "all day meetings" for days at a time, followed by no response. When I finally did get a response, after investing two months and losing all of the ship dates for lack of funding, I was told that the financial institution no longer provided leases for my type of business. I received this communication by email at 9:30PM and was told by the account rep that I would receive a full refund.
They've had my money for over 4 months now. I'm preparing to file ethics complaints against this SCAM of a "business". Their business is not in leasing, it's in stealing people's money.
I managed to receive funding from another source within a week but I lost all of my previous ship dates, delaying the opening of my business by over 6 weeks. STAY AWAY FROM THIS COMPANY!!!
1 Updates & Rebuttals
Operations manager
Long Beach,California,
U.S.A.
REBUTTAL - PLEASE READ IN ITS ENTIRETY:
#2UPDATE Employee
Wed, June 16, 2010
Matrix Business Capital and Ability Capital Solutions are committed to locating and providing financing to businesses who are frequently financially challenged. While Matrix and Ability cannot guaranty that financing will be provided, we have funded millions of dollars in transactions over the past several years. The cost to review, evaluate and process proposed transactions can be significant, which is why Matrix and Ability require their customers to sign commitment agreements which spell out in plain language the rights, duties and expectations of both the customers and us. Matrix and Ability abide by the terms of those contracts and expect their customers to do so as well. Matrix and Ability make money by funding transactions, not by retaining deposits to help offset losses after a customer has not proceeded in accordance with the terms of a contract. Further comment on an anonymous complaint and the underlying circumstances is neither possible nor appropriate.