Merchants Capital Access

Review: MCA contacted me to sell a business financing product. Upon consideration and initial agreement of the product, our company looked to void the agreement due to the inability to generate cash flow requirements within the shortened repayment window and interest. The deal was pushed through and subsequent payments from bank account have rendered our organization into a negative position of being able to meet current business obligations. Attempts to contact have not been successful. The manner of the business deal was not very ethical based upon examination of bank statements and tax returns shows our business with inefficient cash flow to service the debt as it was structured. Attempts to stop the transaction were not honored.Desired Settlement: A nullification of agreement or a revised payment schedule that better reflects repayment ability based on cash flow.

Business

Response:

We have significantly reduced the complainant's payment and explained that [redacted] is not an employee of the company but an independent broker . We instructed [redacted] to contact us directly in the future . We believe [redacted] is satisfied with this resolution

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

While it is understood the [redacted] is not an employee, I am still not satisfied with the terms of the deal. As stated, from the information that was provided to consider the financing, the terms were well beyond my ability to maintain. Upon speaking with MCA, they did offer a reduced payment term however I have expressed that those terms too are not possible due to the reduction in business revenue. I have asked for a more manageable term that will allow for continuous payments that are more realistic to my financial picture. I have expressed that I am in no way looking to be completely absolved from the debt but would like better terms to repay.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

We have spoken again with [redacted] , I believe you will find he is now satisfied .

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

Terms discussed were still not suitable based on current business conditions. I have turned to a debt specialist company to help rectify.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Review: |We have repeatedly asked this company to remove All of our 137 phone numbers from their calling data base, and they do not do it. On November [redacted], I sent a request by email to the address they provided, and we still receive phone calls at regular intervals on their behalf from autodialing companies. Today they used the number ###-###-#### to call us almost 90 times. They get extremely indignant when you ask for a legitimate email address or regular phone number (*non 800)to provide a file of phone numbers you want removed from their list. Their people will simply hang up on you if you ask for this info, and they then call back repeatedly. If you ask for a supervisor you are sure to be hung up on. This company also operates under a number of aliases, not just the one listed, and they mask and hide their true identity to keep you from communicating to get them to stop invading the privacy of your business with their autodialing subscriptions.Desired Settlement: We want all our numbers removed by EVERY company and ALIAS that they operate under, and to never receive a telemarketing call from their or their affiliated companies again. We need a legitimate email address to send this to in file form(not the fake ones they have given us in the past)and a legitimate phone number by a person in charge if we ever receive their phone calls again (not an 800 number or a masked or Skype number that can be easily disconnected at their whim) This is their MO

Business

Response:

All my direct contact information has been delivered to [redacted] via email with (a) an explanation of what happened , (b) the steps taken to ensure it does not happen again and (c) our sincere apologies for any problems this may have caused with his company . Further , I invited [redacted] to call me directly at his convenience .

My business was very slow because of inventory marketing I had no financial support that can bring my business on track

One day M c a call me and asking if I need help and I was "yes" since than I have 4 different stablished business example one of my business does 1000.000 year but whith MCA s help same location I'm doing 1.5milion thanks God and then MCA

Hessle free aprove I'm 48 hour

Review: This is a loan company. I have a contract of a loan amount and interest as well as the total together at 6 months. I was informed that I could pay it off early so to have less interest and they stated there would be no fees for an early pay off. At 30 days (loan was for 6 months) I requested to pay off early. When I asked for the pay off amount it was nearly $1000 inaccurate. Meaning they were charging me $1000 to pay the loan off early even though I have it in writing this would not occur. I am going to go ahead and pay the correct loan pay off that includes what has already been paid plus the interest.Desired Settlement: To accept the correct pay off amount and consider the contract complete with collection report of "paid as agreed" zero balance

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Review: I recieved a letter from the company with what appears to be a check for $68,217.56 . Upon close examination, there are watermarks and various security devices incorporated into the check. There are 5 different places on the back that describe the security devices for authentication and that claim the item is in fact a check.

I called the company to find out what is going on. When I was able to reach someone they said it was NOT in fact a check, but then the laughed and said "it got you to call didn't it?' Apparently he thought it was funny. I pointed out that there are numerous places on the document that claims it is a check. He just laughed again.Desired Settlement: They should either give me a legitimate check for $68,217.56 or face criminal prosecution.

No other settlement will be considered.

Business

Response:

[redacted],Merchants Capital Access received your complaint from theRevdex.com. We appreciate you bringing to our attention thatthe marketing advertisement appears to look like a legitimatecheck. We use an outside independent marketing company for ouradvertisements. If they have neglected to write fine print that states:Checks are for marketing purposes only and/or You must complete application toqualify and complete funding, then they have made an error. We willget this rectified immediately. Also, the advertisement should nothave had any routing or account number and this would be the most obvious wayto differentiate marketing material from a real check. We wouldappreciate you sending us your copy so we can analyze and make any necessarycorrections. We will consider hiring a new marketing company afterreviewing the errors that may have been made. As far as your request that we should just send $68,217.56to you, this does not seem feasible. Merchants Capital Access is acash advance provider for small to medium size business’s. Our repaymentterms are less than 12 months. The business owners that are approved forthat amount are depositing more than $25,000 each month. If you area self-employed business owner then we would process your application at nocost and waive any additional funding fees. The cost of the moneyvaries depending on the payback period. Typical program terms are 6,8,10and 12 months.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

Their excuse as to why a fraudulent check was sent is unacceptable. This is the second such check we have recieved, so the premise that they don't know what is going on with their ads is not acceptable. I reject the notion that this company has no idea what their advertisements look before they are sent out. As a businesswe know exactly what our ads look like before they are sent out. This response is unacceptable and a lie. You were given two options for resolution and you rejected the first. Therefore I have no choice but to forward the advertisement to you state attorney so that they can decide what legal action will be taken against you. Any further correspondence from your company to mine will be dealt with in the same manner.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,