Print the value of index0
Union Capital Associates, LLC Union Capital or UCA Requested a down payment and then disappeared after receiving the money austin, Texas
Union Capital Associates, LLC. agreed to fund a loan for an equipment purchase for us. After doing research on them and visiting their website and we found only two bad reports from 2004 and 2006. They seemed very legit. So we decided to go ahead with the loan. After Union Capital requesting a down payment for $1088.23 we were a little hesitant. But they promised that the funds would be sent after they had receiving the signed paperwork and the down payment. The paperwork was sent to them by express mail on November 5, 2010. The check for the down payment was sent to them by express mail on November 13, 2010. But the loan was never delivered. When we contacted them to see what the problem was, they stated that they were in the middle of moving their offices. When we contacted them again, they stated they were unable to get the money for the loan. When I asked for our deposit back they promised it would go out in the mail immediately. But now when I contact them they dont answer the phone or respond to any of our emails. I have not yet received the check for $1088.23 that was paid to Union Capital for services they never delivered. Word for the wise.. NEVER send out a payment for a loan before receiving the funds for the loan.
2 Updates & Rebuttals
Employee
Austin,Texas,
SUMMARY
#3UPDATE Employee
Mon, September 15, 2014
Summary of Complaints
We would like to take the time to write a summary of our (3) complaints (the site represents (4) complaints as one client made the same complaint twice). There are (3) complaints out of tens of thousands of transactions and interactions and we have resolved and/or attempted to resolve these issues. The accusations and inflammatory language that are levied in these posts are patently false. We have all documentation to prove so and we will provide it at request.
The first complaint was made (twice) by a company that had been approved by us but they did not return the funding paperwork for several months. Once the documents were received we needed to reprocess the loan as the approval had expired. At that time the client's credit had materially changed and we requested some mitigating information in order have the loan reapproved. During that time there was an enormous fallout in the lending industry due to the financial collapse of the time and obtaining approvals on credits with a checkered history was time consuming. In addition, the client was unable to reach their sales representative due to our company move and a medical emergency that involved the sales representative. However, when the client contacted the sales manager we did apologize for this and we did send them back a refund.
The second complaint involved a company that misrepresented the loan amounts that we were refinancing. When we requested the loan buyout figures from the client's lenders we learned of the client's misrepresentations. Despite this, we still were able to obtain another approval for the client. However, the client- because of their own self-generated issues and time constraints- opted to use another lender. They also acknowledged in an email to us that she was aware that the issues were of her own making and that she was opting out of the loan with the knowledge that she was abandoning her deposit (see her email in our rebuttal to her complaint). However, we wanted to maintain the client so we let her know that the deposit could be used in whole for any other future financing needs. After we surprisingly learned of the client's dissatisfaction on this site we attempted to contact the client. However, none of our calls have been returned.
The third complaint involved a company that wanted to utilize our services to purchase a trailer and then buyout the loan through their bank a couple of weeks later without any interest or administrative fees. We were unaware of their intentions and we do not provide this service. In fact, this is not a service that any lender provides. Why would they? Would a home builder construct a home and then accept an at cost payment after the fact? Would a manufacturer machine an order and then after the fact accept a payment without profit? However, in an effort to keep all parties happy, we did unravel the loan and the client has no loan obligations. We did so at a great loss of time, effort and money to ourselves.
We expend great efforts to make sure that ALL clients are satisfied. We have remedied, or attempted to remedy, these aforementioned (3) issues (out of tens of thousands of satisfied clients and hundreds of millions of dollars in loans). Our only wish would be that people were as motivated to update their issues when they are addressed as they are to make complaints in the first place. These posts were made during a snapshot in time and from one perspective. They do not accurately tell both sides of the story and they do accurately reflect the totality of the transaction. We are dedicated to being a positive part of the finance industry and we will continue to provide exemplary service to all of our clients. We will happily make available any documentation that shows evidence of these efforts including customer and other references. Please feel free to request any information from us at any time. Thank you in advance for considering our point of view.
Best regards,
Union Capital Associates
C Spencer
Austin,Texas,
United States of America
Rebuttal by Union Capital Associates
#3UPDATE Employee
Mon, April 11, 2011
Due to credit issues on this financing request that we were unaware of, the financing was ultimately declined. Calls were not returned by the customers account representative for a period of approximately one week while he tended to a family medical emergency. We did apologize for this. However, all calls to the sales manager were returned as was the deposit. This issue was also resolved with the BBB. Should anyone need any paperwork to prove that we resolved this issue we would be happy to provide it. The BBB and Rip Off Report are valuable tools that the consumer can use to make sure that their interests are being looked after. I do wish that some consumers were as diligent in making sure that complaints are removed or revised as they are in filing them in the first place. UCA strives to be a positive and essential funding partner in the marketplace and we have addressed any and all complaints (2 out of thousands of customers). Also, I've personally been in the industry for 15 years plus and every lease/loan that I have transacted has required at least a first payment in advance of funds being dispersed. This is industry standard and has been for 30 years plus. This is no different than a home/commercial builder, printer, metal/wood fabricator, equipment seller, etc. requiring a deposit to start a job/order. Even physicians check your insurance information to verify coverage before performing services. Please feel free to request any customer references or any other documentation and we will gladly provide this information. Thank you in advance for your patronage and we welcome any comments or suggestions on how we may better serve you!