Complaint Review: Commercial Lending Capital - Los Angeles California

Commercial Lending Capital is not closing loans. Call the BBB in Riverside they have multiple complaints against them. Shame on you Clc you are exposed.

Further, I believe you meant LOI, not LOC. (Hence: Letter of Intent) FYI: 2.4MM won't get you very far with 100+ employees. Feel free to check our website, (updated monthly) for recent closings.

First and foremost, please be intelligent enough to realize this individual has posted under the same name 4 times, each time signing the bottom under different names. Regardless, let's assume there's any 'merit' to this complaint. The allegation is that he had 7 customers scammed. Frankly put, CLC hasn't had any Broker submit 7 loans to our company. Further, if you had even one deal go 'South', why would you be ignorant enough to submit six more? That statement in itself is ludicrous. Please find a generic response to this type of post on behalf behalf of myself, our 100+ employees, their families, and all of my fellow Officers: When doing research in an attempt to beat down a company that's been in business for 6+ years, you may want to start by actually researching the CORRECT company and take into consideration only the CORRECT information, and the SOURCE of the information. (I urge you to do so with any company you choose to do business with in the future as well.) This has become an industry where residential Brokers like to pretend they understand the commercial arena. Comparing residential to commercial is a ridiculous attempt. Instead of Brokers who had no right representing borrowers taking responsibility for their horrendous representation, it's easier to point fingers at the lender. This is often the case with low property values, etc. Your Broker should be intelligent and ambitious enough to accurately assess the value of your property. If a Broker isn't aware that most property values are depreciating, not appreciating, it's time to seek new representation. CLC has a contract with all of our applicants. It clearly states that if we do OUR job accordingly and you cancel your loan, you owe us a cancellation fee. Frankly put, if you hire an Attorney, they charge you a retainer, plus an hourly rate. You're not going to get a refund if they don't win your case for you, if you don't pursue your case, or whatever reason. Even in the residential world most contracts now state that if a willing and able buyer is presented, the implied commission is due. So yes, if we do the required work to close a loan and you don't do your part, you will in fact pay for all associated expenses. Does this seem unreasonable? I certainly don't believe so. I have 100+ employees that don't work for free. Do yours? Find me one company that's been in business for 6 years, doing the volume we do, with the amount of consumer contact that we have, that hasn't had a complaint filed against them. I randomly noticed the other day that Flowers.com has negative posts everywhere. What could be negative about getting flowers? The point being that it doesn't matter who you are or what you do, these new websites created to promote free speech' simply allow anonymous posters an opportunity to slander companies in a manner that doesn't allow the company the ability to respond/retaliate. The damage has already been done. This complaint is the exact reason why this industry is failing and most Brokers are being put out of business. The information contained in his complaint are grossly inaccurate. When in doubt, pick up a phone and get a second opinion. Just make sure you're contacting other reputable companies, and not just taking the word of someone who claims' to be an expert. My in-depth response is because I feel passionately about this company, it's employees, our processes, and the fact that we're still thriving in an industry where most have failed. We could sit here all day and battle erroneous allegations, but the truth is we can never undo the damage that these types of false allegations have against companies like ours. Websites like Ripoff Report allow consumers to read and convict, without allowing the companies fair opportunity to respond/retaliate to the anonymous posters. Frankly, I am aware of numerous business, (ourselves included) that have been the target of disgruntled ex-employees who are merely on a smear campaign. I personally think Ripoff Report does a disservice to all companies. It takes away from our legal system, and the whole theory of innocent until proven guilty. These are the types of things that make you scratch your head at night and wonder what the world is coming to. I wish all of my fellow partners much continued success, and hope this response has done some justice for us all!

Commercial Lending Capital misleads clients with bogus Loc's and once they get the money the drama begin's. They drag you on and on for days,week's and months w/bogus this & Bogus that, lie after lie. Do not trust this Company. Commercial Lending Capital is an arrogant, deceiving and treacherous company. Commercial Lending Capital day's are numbered!! Los Angeles, California U.S.A.