Universal Funds

Always have had a great experience with Universal Funds especially when dealing with Kelsey C** [Director of Renewals].

I have had the pleasure to have worked with Nicole R[redacted] with Univetsal Funds. She has been such a huge help to our business. She is very thorough and keeps everything moving as quickly as possible. I would recommend her to anyone!!

This is a awesome company, very friendly and some one u can trust. I needed a loan for repairs and they told me dont worry we got your back.

Jeff was very helpful. He was patient with me and always available to answer my calls and questions.

Complaint: [redacted]
I am rejecting this response because:
the "alternative offers" were not comparable in amount, interests or term length as previously stated so not giving $30k at $150 a day for consolidation and offering $15k at $280/ day as a third option are not in the same ball park, hence not a comparable offer and their motive seems to be that they will collect money for providing any offer wether it is accepted or not. The public deserves to know they do this before doing any business with this company. From my mortgage to countless loans nobody hides this kind of deceit. This was never a good faith offer especially as the money was collected before the decision.
Sincerely,
[redacted]

This Company is a Scam they tell you they are a funding company when u pay your loan off they realise you not true if u cancel there credit card processing with integrity systems after u have paid off your loan they charge u a 900.00 cancellation fee u are tied into them for life they do not state this in plain terms and there saleman will lie to you

Great company to work with.

Complaint: [redacted]
I am rejecting this response because:the "alternative offers" were not comparable in amount, interests or term length as previously stated so not giving $30k at $150 a day for consolidation and offering $15k at $280/ day as a third option are not in the same ball park, hence not a comparable offer and their motive seems to be that they will collect money for providing any offer wether it is accepted or not. The public deserves to know they do this before doing any business with this company. From my mortgage to countless loans nobody hides this kind of deceit. This was never a good faith offer especially as the money was collected before the decision.
Sincerely,
[redacted]

In response to the UMS claims, after the 'pre-approval' for the consolidation loan I signed the agreement after which I noticed that the money was removed from my account & then  I now heard from H[redacted] that there was an issue. He did not offer another consolidation loan to me.(approx. $30k) He  just offered a single tertiary position of a far less amount of which the payment was $230 daily and I didn't want as it was in no way equal. Then after that  I called back & I am informed that I will lose the $946.46. and among other things to call an attorney if I wanted & was asked if I was in the habit of signing things without reading them 1st. Sincerely [redacted]

Nicole was great to work with. She helped us out to find the best option for the business. I would recommend her any time.

The attached documents show that Mr. [redacted] of [redacted] was charged an "application fee". This fee was not a closing cost or a "upon receipt of funds" fee.  Our sales department was able to offer four different approvals for this business, however Mr. [redacted] declined all....

The attached documents also state that if Universal Funds is providing any type of service and the merchant decides to cancel or not to move forward, Universal Funds can charge a cancellation fee, upon our discretion". Which in this case, we took into consideration Mr. [redacted]'s financial situation and we only charged the application fee.

Universal Funds is great to work with. They are very timely and upfront about everything. Some company's take 24 hrs to return a single email! Everyone at universal will keep in contact with you throughout the whole lending process. The pending process is super fast! My first loan was finished in 4 days. Highly recommended!

Review: I was working with Universal Funds to obtain a loan for our business. I specifically said several times both on the phone and by email that I was not agreeing to anything and was not authorizing any debits from our bank account.Without ever providing me with an offer of terms to a loan, Universal debited my account $823.20 saying that I had agreed to a loan. Once I made them aware that I had not accepted their services, they said they would refund the money. They still have not and say there is no one available to help me any time I call.

Desired Settlement: DesiredSettlementID: Refund

I want a refund of $823.20 plus a $36 overdraft fee we incurred because of their unauthorized debit.

Business

Response:

Business Response /* (1000, 5, 2013/04/12) */

WHEN WE INITIALLY CONTACTED THE MERCHANT SHE STATED THAT SHE HAD OVER $300,000.00 IN STATE AND FEDERAKL TAX LEINS. THE STAE WAS RESOLVED BUT NO PAYMAMNET PLAN ON THE FEDERAL. SHE THEN TOLD THE SALES REP THAT SHE COULDN'T GET A CASH ADVANCE AND DIDN'T THINK WE CAN GET OPNE FOR HER. THE SALES REP PROCEEDED TO TELL HER WE CAN GET HER A CASH ADVANCE BUT IT WAS NOT GOING TO BE AT OUR LOWEST FACTOR BECAUSE THE LENDERS ARE TAKING A GRWEATER RISK. HE THEN SENT OVER ALL OF OUR APPLICATIONS, CONTRACTS, FEE SCHEDULE (DATA SHEET).ONCE SHE RECEIVED THE CONTRACTS SHE RETURNED EVERYTHING SIGNED EXCEPT THE DATA SHEET. THE SALES REP WAS ABLE TO OBTAIN FUNDING FOR HER BUT SHE COULD NOT BE REACHED FOR TWO WEEKS. HE LEFT HER SEVERAL MESSAGES.AFTER TWO WEEKS THE MERCHANT EMAILED THE DATA SHEET SIGNED AND DATED, WHICH MEANS SHE ACCEPTED THE STIPULATIONS AND CONDITIONS OF THE OFFERS. SHE WAS CHARGED FOR WORK THAT WAS DONE ON HER BEHALF. THE SALES REP CALLED TO EXPLAIN THAT SHE WAS IN A STARTER PROGRAM BECAUSE OF HER TAX ISSUES. SHE THEN SAID SHE WAS GOING TO THINK ABOUT THE OFFER, SHE DID NOT CALL US BACK UNTIL THREE DAYS LATER COMPLAINING ABOUT THE FEE WHICH SHE ACCEPTED BY SIGNING AND RETURNING ALL CONTRACTS

Consumer Response /* (3000, 7, 2013/04/17) */

(The consumer indicated he/she DID NOT ACCEPT the response from the business.)

After the company contacted me I agreed to see what terms of a loan they could offer me. I made it clear both by phone and by email that I was not agreeing to any agreement without seeing terms. I initially did not return the data sheet and included in my email that it looked like we would be charged if we did not complete the deal so I was not returning that sheet. The email response from the company was "The date sheet is part of the app process and on your deal I need it back do to its going to be a ach program, I will sure you nothing is going to come out unless you say yes. Can you call me when you get a minute. Thank you"

I did call that afternoon but the person with whom I had been dealing was gone for the day. That was all on March 15, 2013. I did not immediately respond because we do not have $300,000 in liens and we are not in the dire situation that the company believed. There was no urgency to obtain this funding and I had a business to run.

A few weeks later when I had time to re-read the paper that was missing, on April 2, 2013, I reiterated again both by phone and email that I was sending it back but not agreeing to anything. The form said we would be charged for "the goods, products and/or services" received or there would be a cancellation fee. Since I had still not been offered any loan with any terms, I could not have yet received any goods or services.

The following day, April 3, 2013 our bank account was debited $823.20. When I immediately called the company that day on April 3, 2013, they informed me that by returning the data sheet I accepted their deal. However, they had not yet offered me a deal which I could accept. The representative agreed that he had not made me an offer yet, and that he himself would not accept a loan without knowing the terms. After that phone call they sent me an offer which I declined by email on April 3, 2013.

The first representative then said our money would be refunded by Friday April 5, 2013. When it was not and I called, he said it takes a couple days. I waited a few days and was told by someone else in the company that it was being reviewed. When I explained the situation, that person said the salesman had so many things to remember he may have just forgotten to tell me that sending in the data sheet means you accept a deal. Each subsequent time I have called I have been told that the case is being reviewed. I was also told if I complained to my bank and had them reverse the charges they would then charge me an even higher cancellation fee.

I have the emails to support this timeline of events. I would like to have the $823.20 refunded immediately.

Business Response /* (4000, 9, 2013/04/18) */

THIS IS THE RESPONSE WE RECEIVED FROM OUR INVESTOR REGARDING THE MERCHANTS TAX LEINS.

Task Type: AMIPQ-Terms:

Pre-Qual Completed - Declined - Merchant ID: XXXXXX - Station 7 Restaurant

Decline Reason:

- Excessive liens, judgments, and/or UCCs

Open Tax Liens 09/25/2012 $311,722.00

Open Judgement 09/11/2009 $13,307.00

MS. [redacted] WAS AWARE OF THE FEE BUT ONLY HAD THE PROBLEM AFTER SHE THOUGHT ABOUT THE OFFER. MS. [redacted] WAS WELL AWARE SHE WAS GOING TO BE IN A STARTER PROGRAM BECAUSE OF HER TAX LEINS.

If you are in the market for an advance to grow your business, I would very strongly suggest to not walk but in fact RUN as fast as you can.....TO this lender!!!
Kelsey C** which is the Director of renewals, works very hard to make sure that everything is concise with your paperwork and makes the process as easy as possible
Kelsey is what makes this lender thrive as they do and stays with her word to you and keeps you informed throughout the entire process.
So if it's a lender you want, make sure to talk to Kelsey C** at Universal funding.
Trust me, you'll be glad you did.

Review: I tried to use them to get Capital funds for my business. It didn't go through but they charged me $456 for an application fee never once mentioned. A portion of it is my fault for not reading the every bit of what I signed. But if there is a fee for moving forward you don't hope the customer misses a key bit of information. [redacted] their employee, never mentioned there would be an application fee. They stuck this at the bottom of a paper I signed and it didn't even mention that the charge would happen whether the application was accepted or not. The statement says: $456.40 will be charged for application. (includes processing & admin fees)Desired Settlement: They should credit my account what they charged me. They deliberately hid the charge so that I would apply. If I knew there was a charge I would not have gone through with it. Many other companies do this and do not charge and I ended up using such a company.

Business

Response:

ON DEC 27,2013 MR. HILTON SENT OVER TO THE MERCHANT ALL PROPER DOCUMENTATION TO SIFN FOR FUNDING. IT WAS EXPLAINED TO HIM ABOUT ALL THE FEES ASSOCIATED WITH GETTING THE FUNDING FOR HIS BUSINESS. IT WAS EXPLAINED TO HIM THAT THE APPLICATION FEE WOULD BE CHARGED UPON SUBMISSION OF THE FILE TO FUNDING AND THAT THERE WILL BE A SECOND CHARGE ONCE THE MERCHANT WAS FUNDED . HE SIGNED ALL DOCUMENTS HE DID NOT QUESTION ANY FEES AT THE TIME. WE DID HAVE HIM APPROVED BUT HE DECIDED ON GOING WITH ANOTHER COMPANY. I HAVE ENCLOSED SIGNED FEE SCHEDULE.

Review: Universal Funding refuses to refund my money in the amount of $694.40 after I cancelled any interest I may have had with their establish. The representative [redacted]my [redacted] assured me that no such amount would be debited from my account until AFTER I received and accepted any "approved" loan. He even verbaled a pre-approval amount of 7000. No such such offer was made and my account was debited anyways. Alarmed, I called Mr. [redacted] and after several messages and emails, he finally accepted my call, and it was ONLY UNTIL then that he informed me of having been approved for 2500.00. I inquired of the charge on my account and he apologized, stating that my account should not have been debited. He assured me that he would be sending the paperwork, via email, on 2500 loan on that same day. I DID NOT receive any information on that day. I called him the next day and request the paperwork be sent by Friday morning. ONCE AGAIN, Mr. [redacted] did not follow through on his promises. Instead, I had been informed that Mr. [redacted] was ill and left the office early. I inform his assistant that I was no longer interested anything Universal has to offer. I sent several CANCELLATION notices, via email, to both Mr. [redacted] and [redacted] immediately after speaking with the assistant. The Cancellation notice was sent that same Friday, October 25, 2013. Disregarding my Cancellation notices, Mr. [redacted] proceeded to forward the loan paperwork, the following Monday. I informed the originator of the offer that I was no longer interest and that Mr. [redacted] had been ignoring my notification. I spoke to Mr. [redacted] the following Tuesday, of which, he argued against my full refund and stated to me "FK YOU!"I applied on October 18, 2013 and cancelled on the 25th. I want to re-interate that no concrete offer was made until I made the cancellation. Universal Fund does not follow through with what they promise. I have been wronged by them, by Mr. [redacted] poor conduct. I deserve a full refund as a resolution.Desired Settlement: I would like the refund amount Directly Deposit in into Bank Account because it was ACH debited.

Business

Response:

On Oct 22 [redacted] started a conversation with Soonthone Phasavath and discussed with her our processing program and how we can save her money and lower her rate. on the cash advance end [redacted] discussed the process and based on Ms. Phasavath sales he would be able get the business a minimum of $2500.00 which Ms. Phasavath was completely fine with. [redacted] her processing contracts, sales agreement , data sheet and pre qual application. [redacted] explained to Ms. Phasavath that before she signed anything to please read it and call with any questions. Ms. Phasavath returned everything signed and never called with any questions. The deal was submitted and received approvals the next morning, [redacted] called Ms. Phasavath and discussed her approvals , he advised to wait before making any decision since all of our partners had not responded with any additional approval or declines. Ms. Phasavath agreed to wait. the next day was Friday oct 25 and [redacted] was out sick and could not communicate with Ms. Phasavath at this time Ms. Phasavath was told by [redacted]'s assistant that he would not be in that day and unfortunately she would have to wait until he came back on Monday to discuss her additional offers. When [redacted] returned to work on Monday his email was full of harassing and offensive emails from Ms. Phasavath. [redacted] called her and spoke with her right away, Ms. Phasavath was verbally offensive. [redacted] tried to explain that he was out sick but she didn't want to hear what he had to say and continued to use offensive language. [redacted] informed her he can no longer tolerate her aggressive language and can no longer speak to her. [redacted] did everything Ms. Phasavath wanted unfortunately he was out sick on Friday and was not able to send Ms. Phasavath the contracts for $2500.00.

Consumer

Response:

Review: [redacted]

I am rejecting this response because: Universal Funding has not refunded any of my money and that the statements made of events are false. I don't understand why there is no mention of a refund when [redacted] informed me that a refund will be issued pending approval. Once, it is evident that [redacted] is a liar and the institute of which he represents are thieves.

Review: This was a cash advance request. I specified that a 'cancellation fee' was not acceptable in my initial acceptance agreement, especially since I has yet to see an offer, and, a day later, cancelled the whole agreement, by fax, email and online url.

I have a copy of the cancellation, faxed and emailed one day after the initial modified agreement was faxed. This was well within their contractual three day cancellation term. Nonetheless, they have deducted an ach charge of 812.00 from my account (stopped with [redacted]). This fee was charge me for absolutely nothing - no service whatsoever.

I want this outfit to never bill me again.Desired Settlement: I want no ACH debits to my account - stopping these fraudulent debits is very time consuming.

Business

Response:

The amount of $812.00 was not a cancellation fee. This was an application fee. Our Data Sheet Purchasing Agreement states that "These fees above do not correspond with cash advances. The fees are for our services..." This merchant wrote on the agreement that fees were not to be taken out until a cash advance agreement had been accepted by them. However, that same agreement also states that "The Application fee will be ACHed immediately" as well as "This document cannot be altered in any way."

Review: Thay have taken money out of bank without my authorization on X-XX-XXXX with overdrafted my account to the amount of 1000$How 5-21 no contract

Thay have taken money out of bank without my authorization on X-XX-XXXX with overdrafted my account to the amount of 1000$How 5-21 no contractDesired Settlement: Full refund pluse 327.00 for overdraft fees

Business

Response:

Business Response /* (1000, 5, 2013/05/28) */

This merchant is currently being personally taken care of by the owner of the company trying to come to a resolve for this issue.

they are truly the very best,