- Report: #1374018
Complaint Review: New Bridge Merchant Capital - Internet
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Author Confirmed
Why?
New Bridge Merchant Capital
Internet, USA
Web:
www.http://www.newbridgemerchantcapital.com/
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New Bridge Merchant Capital Green Capital Funding LLC Direct Lending = Scams a bit more complicated! New York Internet
1st let me clarify who we are: we are a small Business looking for 2nd position financing for projects that we are working on. Since the payback practices have moved from 30-45 days to 60+days, we find ourselves in a difficult position. We cant invoice what is not finished! We have been in business for 21 years. Somehow our name has made it across the internet as "suckers" since we are getting on the average about 5-10 "Direct Lending" offers. Just fill out a one page application! And we will give you our decision in 24 hours. Hold On! There is no "just one page" application! They want- months of our bank statements. OK! And then they start negotiating. By the time they figure they have you, you will get a call telling you that as a starter position they offer $5000 at 50% interest. Pay daily! Are you with me still? After you sign and notarize all the papers - thinking of starting a working relationship with a financial organization, then they want proof of ownership? Hello? I just sent you all you asked. And then the promise of " you will have a brief conversation with out underwritting". I think the "underwwriters" practice how rude they can get and probably record and review their slew of insults to the poor business owner that has wasted days -not 24 hours! chasing after their whims. And then they have a interesting line:'no we cannot get behind this package' and hang up. So the decision didnt take 24 hours. It was 6 days = with message strings layered in 20+ messages. And to think they could have done all this a bit more civilized - reject at the begiining I do have other things I need to be doing!
Here's a part of his song and dance routine:
As a direct lender, I can save you money on excessive broker fees, obtain an approval within a few hours and fund you tomorrow up to 150% of your monthly bank deposits. Funds can be used for anything business or personal related with no collateral or personal guarantee involved. We have the simplest process in the industry. I only need 3 of the most recent bank statements as well as my 1-page application attached below. I would like to mention that if you have a current cash advance or loan out at the time, we are capable of giving an additional position or possibly one of the most liberal consolidating programs in this industry, if you qualify for it. We have quite a few new options for our clients to choose from. If you qualify, we can offer weekly payments if desired. We have early payoff discount options rather than penalties like traditional lending institutions. The difference on the interest can be reimbursed to you if paid off early. The interest on these advances is 100% tax deductible. Deals stretch out to 24-36 months in order to keep payments at affordable levels. This is the only form of financing with no collateral and the funds can be used for payroll, equipment purchases, expansion, advertising, additional inventory purchases, tax obligations, repairs, and emergency expenses.
