Yellowstone Capital REVIEW: Yellowstone Capital Customer Satisfaction Commitment: Yellowstone Capital LLC is committed to 100% customer satisfaction. Yellowstone Capital LLC implemented strategic changes, focusing on finding ways to help all merchants get cash advances needed, even if turned down by other MCA companies.
So I run a construction business and was looking for additional funding to expand and grow.
I got hooked up with Tom Proctor from Lendio that in turn got me hooked up with Matt Muratore from Next level funding who then got the loan from Yellowstone Capital....
I was told that they were going to give me $3k this round and after I paid it off I would get $30k as $3k wouldnt really do anything for me.
I completed the paperwork and I had a loan repayment of $4347.00 at a DAILY pay back of $99
Any common minded individual can do simple math t if you divide the total by $99 you have 43 payments of $99 and one payment of $90
Well much to my amaze they kept taking the money out and taking the money out past that amount, So i called Tom Proctor who called Matt and their explanation was as follows
"this is how the business works-- it takes 5 days for a ACH to post to Yellowstone account so they will be taking a $500 more than the loan just to make sure all ACH payments post and none get returned."
Wow, 2014 and they expect that it takes 5 days for a ACH to post even though they send you the money ACH and a bank posts it immediately... What do they think were 5 years old or something.
They also stated " dont worry we will put the money back after the 5 days, trust us we dont keep any money were not due" thats a good one especially since you make 10% PER DAY in interest.
Its also odd that they would take 5 extra payments considering that they have you sign a document that if a ACH bounces they can charge you $2500, yes $2500 for that missed ACH... what normal business person would risk getting charged $2500 over a $99 payment
Well lucky for us they only took out an extra $108 before I bitched at them and threatened legal action. My last payment was Jan 23rd, its Feb 8 and they have still not put back the $108.
buyer beware or should i say, customer BEWARE
1 Updates & Rebuttals
Trademark
Aurora,Illinois,
UPDATE
#2Author of original report
Sat, March 15, 2014
UPDATE:
Unfortunetly RIPOFF REPORT does not allow posting to be removed after the fact however, I must at least state the fllowinog about NEXT LEVEL FUNDING-- After getting a phone call from Michael Hollander who is one of the directors of NEXT LEVEL FUNDING he went above and beyond to make sure that my concerns were taken care of and ultimatly the money was put back into my account. He was able to get Yellowstone to reverse the additional funds taken out and in addition to that. He personally had his company replace the money I was charged in overdraft fees.
I will definetly be doing business with Mr Hollander and NEXT LEVEL FUNDING in the near future.