Our experience with Fundzio has been a positive for all three times that we have used them In the first experience, it was a little nerving since it was the first time for us using a cash advance company to fund a project for our business As a consumer I know it is my responsibility to thoroughly read thru my contract before signing it and question anything that is unclear After the process of gathering the required documents and submitting it to the company, I received a contract and reviewed it I had some questions about fees and power of attorney and completely understood what I was getting myself into For people like me, who have bad credit history, this was the only choice I had to be able to fund my business project I was fully aware of the legality behind this contract There was just one discrepancy at the end of the contract when I paid it off early The company assessed a UCC termination fee of $ Because it was no where stated in my contract, I disputed it and was immediately reimbursed my money In the subsequent contracts I had with Fundzio, there were discrepancies that were always immediately resolved without hesitation I never once felt they were shady with their professionalism or business practices Although the fees and expenses were more than if I was to get a traditional business loan, it was there when I needed it most for my business and was the motivation I needed to get my credit rating in check so that I have a better chance of getting a traditional loan and not have to use them in the future
WARNING: USE EXTREME CAUTION IN DEALING WITH THIS COMPANY!
This company is extremely unethical and deceitful in their dealings with the public and should not have an "A" rating with the Revdex.com!
The company claims to provide "quick cash" to Businesses
On July 13, I contacted Fundzio in reference to an email solicitation to provide funding to our company The company engaged in several unethical business practices which a legal and legitimate "A" rated company with the Revdex.com would not do
Specifically the company made the following deceitful statements and actions:
1- Company claimed that any line of credit or cash advance is based solely on the company and that Corporate Officers are not required to sign "personal guarantees" However officers MUST agree to a Personal guarantee and liability for any advance Additionally officers MUST agree to "waive and release" the company from any liability or claim for wrong doing
2- Company specifically stated that personal credit would NOT be pulled on Corporate Officers However the Company made two hard inquires on my personal credit profile with Experian
3- Company claims that they provide loans in the form of Cash Advances on terms better than anyone else in the industry They also state that their rates are low and "very affordable" In fact they are the worst I was unable to locate ANY company with worst terms or higher rates Furthermore they avoid using the term "loan" or they would be in violation of Usury laws In order to avoid being in violation of Usury laws they call their cash advance a purchase of future company revenue
4- Company stated there was no loan advance or additional fees In fact the "advance" from the company included a huge $"Origination Fee" Additionally the contract included numerous hidden fees, some as large as $if company is unable conduct an ACH debit against borrower
5- Company demands that applicant provide them with applicants' Log On Banking Identification information to include Username, Password, and security questions
6- Company demands that as a condition to funding that applicant agree to allow them Financial "Power of Attorney"
Our experience with Fundzio has been a positive for all three times that we have used them In the first experience, it was a little nerving since it was the first time for us using a cash advance company to fund a project for our business As a consumer I know it is my responsibility to thoroughly read thru my contract before signing it and question anything that is unclear After the process of gathering the required documents and submitting it to the company, I received a contract and reviewed it I had some questions about fees and power of attorney and completely understood what I was getting myself into For people like me, who have bad credit history, this was the only choice I had to be able to fund my business project I was fully aware of the legality behind this contract There was just one discrepancy at the end of the contract when I paid it off early The company assessed a UCC termination fee of $ Because it was no where stated in my contract, I disputed it and was immediately reimbursed my money In the subsequent contracts I had with Fundzio, there were discrepancies that were always immediately resolved without hesitation I never once felt they were shady with their professionalism or business practices Although the fees and expenses were more than if I was to get a traditional business loan, it was there when I needed it most for my business and was the motivation I needed to get my credit rating in check so that I have a better chance of getting a traditional loan and not have to use them in the future
WARNING: USE EXTREME CAUTION IN DEALING WITH THIS COMPANY!
This company is extremely unethical and deceitful in their dealings with the public and should not have an "A" rating with the Revdex.com!
The company claims to provide "quick cash" to Businesses
On July 13, I contacted Fundzio in reference to an email solicitation to provide funding to our company The company engaged in several unethical business practices which a legal and legitimate "A" rated company with the Revdex.com would not do
Specifically the company made the following deceitful statements and actions:
1- Company claimed that any line of credit or cash advance is based solely on the company and that Corporate Officers are not required to sign "personal guarantees" However officers MUST agree to a Personal guarantee and liability for any advance Additionally officers MUST agree to "waive and release" the company from any liability or claim for wrong doing
2- Company specifically stated that personal credit would NOT be pulled on Corporate Officers However the Company made two hard inquires on my personal credit profile with Experian
3- Company claims that they provide loans in the form of Cash Advances on terms better than anyone else in the industry They also state that their rates are low and "very affordable" In fact they are the worst I was unable to locate ANY company with worst terms or higher rates Furthermore they avoid using the term "loan" or they would be in violation of Usury laws In order to avoid being in violation of Usury laws they call their cash advance a purchase of future company revenue
4- Company stated there was no loan advance or additional fees In fact the "advance" from the company included a huge $"Origination Fee" Additionally the contract included numerous hidden fees, some as large as $if company is unable conduct an ACH debit against borrower
5- Company demands that applicant provide them with applicants' Log On Banking Identification information to include Username, Password, and security questions
6- Company demands that as a condition to funding that applicant agree to allow them Financial "Power of Attorney"