American Merchant Capital Group

Daniel Johnson Callahan this person is offering loans to business never happen, adding more problems to clients, many clients are losing business because of false promises getting loans to continues business
he has an army of people doing this including his girlfriend Kellie Williams

Good afternoon, Please be a advised that on October **, 2016 we did received and application (signed for credit and submission). The applicant responded to a credit driven product with minimum FICO requirement of 620. This in conjunction with written consent to allow us to pull his credit gave...

us no hesitation to move forward with this client as we would with any client, quickly and efficiently. We received very positive feedback initially but due to the nature of the merchants business (Real Estate fix and Flip) we requested a few more documents. At this point the merchant became irate, rude and difficult to work with.Numerous attempts where made by the sales rep and by the head underwriter during which  the merchant kept saying "I want money at 7% with no documentation". We explained that financing does require a little work especially at the rates he was looking for. He proceeded to threaten our secretarial staff numerous times until we explained that we simply will no longer tolerate his behavior and politely suggested that he work with someone else.Upon receiving the Revdex.com complaint we have contacted the credit bureau to see if we can get his inquiry removed. Although signed to allow us to pull his credit the bureau is cooperating and feels that the inquiry can be removed in several weeks.  We have all documentation necessary to prove our. John E[redacted]
[redacted]

Attached please find the application sign by the merchant giving permission to run his credit. As stated in our initial response, we requested the inquire be removed. I am not aware of any lending institution that can provide 7% funds without some sort of due diligence. As self-proclaimed real estate professional, [redacted], should know that all of us in the lending community check credit. I would like to point out that all this complaining started AFTER HE RECEIVED THE QUOTES FOR THE LOAN. He was threatening to cause problems unless we gave him the loan he wanted. Unfortunately he does not qualify and hence we are here.   Best Regards,

These guys are as crooked as they come!

They will call and tell you are approved, set funding date and then disappear and won't answer phone calls or emails, they will appear again and ask for more documentation, inform you everything is done, have closing call and set funding date and then no funding takes place, they will again ask for more documentation and will ago through same process again, they will keep you running chasing your tail, you will never get funded. Complete waste of time. After you tell them that never mind you got another source to fund you, they will threaten you and deduct money from your account without telling you. Legitimate lenders will provide not only references but if requested proof of funding prior deals as well as proof of funds they will provide. Ask that question from them and they will disappear.

Stay away, considered yourself warned.

really bad experiences they lie to keep you waiting .they make promises and them never comply .they increase fees and reduce the paid period .

Review: I applied for a business loan with this company and was told I was approved several times. I even asked are you sure and the answer was "yes, [redacted] you are totally approved were just waiting on the underwriter to finish up on his end". Then the underwriter or so I was told he was an underwriter said I was approved and then he needed bank statements and credit card statements. I sent those to him and he sent me a contract for a new credit card processing company. I told them I was with [redacted] processing company and that I had a contract. They told me that was no problem and that they would buy me out of that contract. So believing them I went ahead and signed a contract with the other company. Thats when the problems really began. I could no longer get a hold of [redacted] the underwriter or [redacted] the salesperson. I can't tell you how many messages I left with them. I got so frustrated that I even called the new processing company for help but didn't get much there either. I finally got the receptionist at AMC to take messages but most of them went unanswered. This went on for weeks. I finally called and asked to speak with someone over their heads. One man spoke to me and was nice and just said their working on your loan and they will call you back. More time went by and during all this I'm hooked up to two credit card processing companies. Costing me money. At the end of the month I get a call from a man named [redacted] who I don't really know him but gathered he is over the other guys. He said unfortunatley my loan was not approved. When I ask him why was I put with another credit card company until they knew I was approved he basically blamed my bank and the new credit card company. I said "whatever"and said now what are you going to do to get me out of this mess with two card processing companies he said, "I know its a tangled web, I'll talk to the board and see what we can do to help you". I told him that I had been told that by [redacted] that they would buy me out of my contract with [redacted]. So long story short I never heard back from him after leaving many messages. I had to call the receptionist and threaten to turn them in to the Revdex.com. He then immediatley called me and was very hateful, plus tried to say they had left several messages...which they had not. I have a answering machine and a cell phone that is with me at all times. So that was another lie. Then he proceeded to tell me I was not a client and why would they want to pay anything for me. He talked to me in a very demeaning way. Basically said I was stupid and that I was lieing because nobody over there told me that they would buy me out. Well, is common sense to hook you up with two credit card processing companies befor you actually get the loan? I don't think so. Anyway my complaint is I want the money to buy me out of the credit card processing company that they hooked me up with. Which I was told is $399.00. I don't trust this company either because they also lied me.Desired Settlement: They can make the payment to the credit card company. I want the whole amount. $399.00

Business

Response:

To Whom It May Concern:

[redacted] at [redacted] applied for a loan with American Capital. Due to the low volume a for her account we explained that we must have a direct link with her current Credit Card processor, an option not available with her current company.

AMC works with multiple processors and a list of acceptable vendor was presented to her. Based on price she chose one,(cheaper than current company) and sent us their application. A welcome package from said company came to her with all their contact information, customer service ext.

Unfortunately due to inconsistent volume and decrease in business we had to decline this loan. The merchant was notified immediately and told that she should get a hold of the processing company if she did not wish to stay with them (they give 30 day to leave without penalty). The merchant however continued to call numerous times a week even though had explained that there would be no loan. She asked for managers and others whom she hoped would give different answers to the same questions.

In short the merchant never cancelled her contract during the grace period even after we advised her to do so. Once she received her first bill she called us threatening that if we don’t pay her cancellation with [redacted] she would report us to the Revdex.com.

We have asked Credit Card company to close her account with no penalties and they have agreed to do so.