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  • Report:  #913904

Complaint Review: Yellowstone Capital

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.


*UPDATE: Yellowstone Capital LLC pledges their commitment to Ripoff Report's Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. Yellowstone Capital recognized by Ripoff Report Verified as a safe business service.

  • Reported By:
    Michael — Irvine California United States of America
  • Submitted:
    Wed, July 18, 2012
  • Updated:
    Mon, November 17, 2014
  • Yellowstone Capital
    160 Pearl St. 5th Floor
    Internet
    United States of America
  • Phone:
    800-955-2411
  • Category:

Dimension funded a transaction with the account
in question for which it received a commission pursuant to an ISO
agreement.  Subsequently, Dimension funded
another transaction pursuant to the same ISO.
Dimension tracks the maturity dates of all its merchant
accounts in order to pursue possible renewals. 
When following up with the first account, we found that the account had
already renewed directly with Yellowstone approximately
30 days prior.  We asked the account to
forward a copy of the executed documents which they did.  The renewal was for $250,000.   According to Schedule A of the ISO agreement this would generate a commission of $12,500.
I contacted Isaac Stern, the president of Yellowstone
and he asked that I forward a copy of our ISO agreement which I did.  After receipt of same he emailed back that he wanted a fully executed agreement.  The one I forwarded was sent
to us by Yellowstone and signed only by Dimension.  Yellowstone did not return a
countersigned copy of the ISO to Dimension, (which Mr. Stern obviously knew)
however, Yellowstone had previously funded two transactions without a countersigned ISO. 
After, I made a final demand for payment; I received an email from Yellowstones in house counsel
stating that their position was that no payment of the commission would be
forthcoming unless Dimension could produce a fully executed ISO. (In other
words, the one they refused to countersign.)  Further discussions continued with Isaac Stern
and David Glass.  Mr Glass called me on July 11th after Mr. Stern failed to respond to two more emails I had sent and stated that there would be no commission paid to Dimension.  End of story.

2 Updates & Rebuttals


honestmcaprovider

New York,
United States of America

Build Your Business With A Firm Worthy of Your Business

#3General Comment

Fri, October 26, 2012

This industry is tough. Work hard and you will be able to enjoy relationships with honest direct lenders. Yellowstone with over 200 iso relationships could care less about you or paying your renewals. At the end of the day this is the man you are doing business with: 

http://nymag.com/guides/money/2007/39956/index3.html

Work directly with one of these direct lenders:
(((competitors' names redacted)))

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company, ..plus, if you post a competitors name more than likely they will show up on search engines as a Rip-off! - - your comments on this policy are welcome. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitors name


Isaac D. Stern

New York,
New York,
United States of America

Managing Partner

#3REBUTTAL Owner of company

Mon, October 22, 2012

Yellowstone currently does business with over 200 ISOs, and we are happy to give out any number of them as references for any ISOs who are interested in becoming a partner of ours. It is and always has been our policy, to pay commissions to ISOs with whom we have existing contractual business relationships. If you are interested in becoming an ISO and partner of Yellowstones, we welcome your business and encourage to contact our ISO department at (347) 464-0785.

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