Bank of Cardiff

Revdex.com:
I have reviewed the response made by the business in reference to
complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***

*** *** at Bank of Cardiff has been a great resource for our technology leasing needs He is thorough and provides a timely response to our leasing requirements

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.Despite all the self-congratulatory language for his client in counsel's letter, the problem has not been solved and I remain unsatisfied with the response To re-cap the problem:
I received a letter from *** *** Division which is apparently related to Bank of Cardiff On the outside of the envelope in bold capital letters the envelope stated: "UCC LIEN NOTICE: *** *** ***, Inc."
I have never had any dealings with *** *** ***, Incand have never had a UCC LienAfter checking with *** *** ***, Inc. I called *** *** who sent the letter on behalf of Bank of Cardiff He never called me back or communicated with me in any wayMy office is part of a large Premier Business Centers executive suite There are businesses who all receive mail at * *** *** *** *** in Irvine In talking with *** I learned that a totally unrelated tenant had once had a financial arrangement with *** Before Bank of Cardiff decides to slap "UCC Lien Notice" information on the outside of an envelope it has a duty to do more to insure that its information is accurate My law practice and I have very good credit It is galling to have a company that is fishing for clients with "poor credit indicators" and those with "lien status and financials or no gross profit" to muddy my good name by falsely stating on the outside of the envelope that I have a UCC Lien It is also noteworthy that there is no hint of an apology in the form of a return phone call from Bank of Cardiff or in counsel's letter Before they start claiming that a person or company has a UCC Lien they should take further precautions to insure that the claim is accurate Making such claims may violate the federal fair credit reporting act Bank of Cardiff cannot be said to be adhering to "Better Business" practices
Regards,
*** ***
Law Offices of *** ***, APLC
***
* *** *** *** ***
Irvine, CA

We are looking into this matter. Please note we did NOT receive a letter from him
Our address is *** *** *** ** *** *** *** *** ** ***. Please update this
Thank you

To whom it may concern:
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Commercial Finance & Leasing Bank of Cardiff, Incapproved a loan for [redacted] on March 4th 2014. As part of the loan package we received a signed authorization form to debit their account for $250. Before we could fund the loan [redacted]'s account balance fell below the minimum required for us to fundThe file was sent in for funding and part of the funding process included the ACHUpon final funding (prior to the release of our funds to them), we learned that their account had gone negative and that we could no longer honor the approval
Commercial Finance & Leasing Bank of Cardiff, Incapologizes for having inconvenienced [redacted] by incurring their bank's service charges. We did not know that the debit for our processing fees would cause their account to become NSF (non-sufficient funds). Our processing fee is a non-refundable fee that was incurred by the processing of this loan. Unfortunately [redacted]'s financial position was one that prohibited us from funding the loan
Sincerely,
Commercial Finance & Leasing Bank of Cardiff

[redacted] is a professional in his field. He stays on top of the work before him, he is polite, he lets you know what he is going to do then goes out and does it in a timely manner. [redacted] explains the process, then executes. If/when the need arises to do business with him again, I will.
Burnie [redacted]
President, Lawnman, Inc.

Just to update my review from December 2014. A lawyer representing the Bank of Cardiff has now contacted us twice offering us half of what they stole from our company if we retract our negative review. We responded in writing stating either pay us all that you took delivering nothing, or the review stays up. The Bank of Cardiff refused, and to now add insult to injury, they have bankers cold calling our business, trying to get us to apply for a business line of credit with them! The audacity of this bank is amazing, they still took over $2500.00 in origination fees, never delivered a thing, and are still calling! WOW!! I attached my original review below for reference, DO NOT USE THESE SCAM ARTISTS! THEY SHOULD HAVE AN AD ON CRAIGSLIST UNDER SCAMS!
The following was from December 2014
We submitted a business loan application to the Bank of Cardiff. They charged an origination fee of over $2500.00, and then totally misrepresented their product. We explained to them that our interest rate was to be 6%, when we received the paperwork via email! the interest rate calculated out to almost 30%! I have attempted to obtain a refund of our fees, but all attempts have failed. This company is the epitome of what people fear in banks, and how they promise one thing verbally, but do something totally different in writing. We wrote letters demanding our money back, to no avail. They are complete crooks

If you would like to post a public reply to this matter, please use the following as the reply:
 
                First, Bank of Cardiff has diligently investigated this complaint and attempted to find out exactly what happened in this case.  In doing so, legal counsel for Bank of Cardiff spoke directly with Ms. [redacted] as well as counsel for [redacted].  Bank of Cardiff has taken this matter seriously and openly shared information and data regarding this mailer with Ms. [redacted], the Revdex.com and [redacted].  Bank of Cardiff has spent a significant amount of time responding to this matter. 
 
                Second, with regard to this complaint, it appears that Bank of Cardiff was provided with erroneous information regarding the status of a commercial property lien and Ms. [redacted].  Bank of Cardiff was able to independently confirm that public records do indicate, in fact, that a lien was filed in relation to the very suite where Ms. [redacted] maintains her office.  However, Bank of Cardiff’s public records provider appears to have associated Ms. [redacted]’s name with that lien based on her office address and exact suite number.  For that reason, Ms. [redacted] was sent a mailer by Bank of Cardiff. 
 
                Third, the particular mailer that was sent to Ms. [redacted] was simply an advertisement for Bank of Cardiff’s commercial lending services.  Bank of Cardiff’s mailers are only sent to select businesses based on criteria selected by Bank of Cardiff.  In this case, Bank of Cardiff used public data associated with Uniform Commercial Code filings (i.e., businesses with a prior commercial borrowing history).  These mailers were sent to businesses and not individual consumers.  The mailer was clearly an offer for a business line of credit.
 
                Again, it was not, nor has it ever been, Bank of Cardiff’s intent to cause alarm or provide misinformation to a potential business customer.
 
Thanks,
[redacted]Tel: [redacted]Fax: [redacted]
This message, together with any attachments, is intended only for the use of the individual or entity to which it is addressed and may contain information that is legally privileged, confidential and exempt from disclosure. If you are not the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this message, or any attachment, is strictly prohibited.  If you have received this message in error, please notify the original sender or [redacted] at [redacted] immediately by telephone or by return e-mail and delete this message, along with any attachments, from your computer.  Thank you.

My customer service rep was [redacted].He worked extremely hard to get me
the loan I needed for my business.He walked me through every step of the loan processing and stood by me untill funded.he is an asset of Bank Of Cardiff.I wish him all the best and like to thank the Bank.

I didn’t know this at the time of filing my original complaint but he had actually called here the night before...

and when my boss told him the person he was trying to reach was unavailable the guy called back EIGHT times! On the 6th time my boss answered and didn’t say anything and [redacted], the salesman, screamed into the phone “I can keep calling all day. I have nothing better to do than to keep calling until you let me talk to who I want to talk to!” Then after the 8th call is when he sent the email to me, to which I responded the next morning requesting to be removed from his list.

I have applied fora business loan with the Bank Of Cardiff last week . My direct contact person was Mr [redacted]. It was an easy and quick process and got funded in a week .
I will definitely use them for other transactions in the future for the ease and the good customer service they provided me

Great people to deal with [redacted] and [redacted] were both very helpful in the decision making process. And all worked in a very timely manner getting our company the funding it needed. Thanks
Charlie [redacted]
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Despite all the self-congratulatory language for his client in counsel's letter, the problem has not been solved and I remain unsatisfied with the response.  To re-cap the problem:1. I received a letter from [redacted] Division which is apparently related to Bank of Cardiff.  On the outside of the envelope in bold capital letters the envelope stated:  "UCC LIEN NOTICE:  [redacted], Inc."2. I have never had any dealings with [redacted], Inc. and have never had a UCC Lien.3. After checking with [redacted], Inc. I called [redacted] who sent the letter on behalf of Bank of Cardiff .  He never called me back or communicated with me in any way.My office is part of a large Premier Business Centers executive suite.  There are 100 businesses who all receive mail at [redacted] in Irvine.  In talking with [redacted] I learned that a totally unrelated tenant had once had a financial arrangement with [redacted]  Before Bank of Cardiff decides to slap "UCC Lien Notice" information on the outside of an envelope it has a duty to do more to insure that its information is accurate.  My law practice and I have very good credit.  It is galling to have a company that is fishing for clients with "poor credit indicators" and those with "lien status and financials or no gross profit" to muddy my good name by falsely stating on the outside of the envelope that I have a UCC Lien.  It is also noteworthy that there is no hint of an apology in the form of a return phone call from Bank of Cardiff or in counsel's letter.  Before they start claiming that a person or company has a UCC Lien they should take further precautions to insure that the claim is accurate.  Making such claims may violate the federal fair credit reporting act.  Bank of Cardiff cannot be said to be adhering to "Better Business" practices.              
Regards,
[redacted] Law Offices of [redacted], APLC
[redacted]Irvine, CA 92614

We've been working with [redacted] at Bank of Cardiff for many years. We are extremely impressed with his hard work and execution of leases for the restaurant equipment we sell. Other leasing companies don't measure up to the level of service Bank of Cardiff provides.

Sorry!
Please send a copy of both withdrawals to [redacted]@bankofcardiff.com and one will be refunded immediately.
[redacted]

Dear Revdex.com,
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Please consider the following response to the complaint lodged by [redacted] of [redacted].
On or about 10/02/13, Bank of Cardiff entered into an Equipment Finance Agreement with [redacted], for the purpose of financing the acquisition of commercial equipment to be used in the borrower’s business.  This is not a consumer transaction, and the agreement specifically prohibits the use of the financed equipment for family, personal or household purposes. 
Mr. [redacted] selected the equipment and negotiated the purchase price of the equipment with the supplier.  He was in possession of all of the facts and numbers necessary to calculate the expense his company would incur in borrowing the funds, that is the principal amount financed, the term of repayment, and the monthly payment.  Mr. [redacted] admits that he did not do such calculations prior to signing the agreement and returning it to Bank of Cardiff, and then the financing being funded by Bank of Cardiff.  The agreement expressly provides that the borrower has read and understood all of the terms of the agreement prior to signing.
With respect to the interest charged, it was expressly explained to Mr. [redacted], prior to his signing the agreement, that this was not an amortized loan product, but a straight installment contract, with no right of prepayment discount.  Using a simple interest calculation, Rock-It Surfaces will pay approximately 7.5% of the principal amount of the financing each year of repayment.  Mr. [redacted]’s calculation of 12.99% is using an amortization calculator. 
There is no requirement under California law that the annual percentage rate be disclosed in the agreement, as this is a commercial transaction subject to the California Finance Lenders Law, under which Bank of Cardiff is licensed.
The agreement was sent to Mr. [redacted] to review at his leisure.  At no time was any coercion or duress applied by Bank of Cardiff.  Mr. [redacted] was free to consult with any advisors of his choosing, read the documents in his own time, and run any calculations he deemed wise.  He freely admits that he did not read the agreement prior to signing and returning the agreement to Bank of Cardiff.
Mr. [redacted] was also free to seek financing from another entity or simply walk away from the proposed transaction.  Instead, he decided to sign the agreement without first reading and understanding it, and now complains about the terms of contract to which he agreed.
In light of Mr. [redacted]’s failure to take the reasonable precautions of an ordinary business person, the cost of the transaction when using simple interest is as represented, and the non-cancellable agreement has been funded, Bank of Cardiff is unable to adjust the cost of the equipment finance agreement as requested by [redacted].

Sir,
We do not want to post your bank account information on line, but please note that our ACH was for $250, not $350.  You sent us a printout of your bank statement, which we are not attaching for your security.  As a one-time courtesy we will refund the $250 in processing fees.  We will not however, reimburse you for service charges incurred due to the low balance on your account.  The low balance of your account is also the reason we were unable to process your loan. 
 
We are attaching the form you signed authorizing us to take the $250.  This will be refunded today.  We wish you the best.
 
Thank you,
Commercial Finance & Leasing Bank of Cardiff

Commercial Finance & Leasing Bank of Cardiff
Roman'">, Inc.
[redacted]
[redacted]
 
26 June, 2015
 
Ms. [redacted]
 
Dear Ms. [redacted]:
Commercial Finance & Leasing Bank of Cardiff, Inc. (“CFLBC”) has carefully reviewed your concerns regarding its recent correspondence sent to you regarding your business.
First, I would like to assure you that CFLBC is committed to providing its clientele, whether current or prospective, with first rate lending services which are not only competitive, but also transparent.  Small business owners are the core of CFLBC’s business.  Your satisfaction, whether it is during the information gathering stage, financing application, or repayment period, is paramount to CFLBC.
Second, I would like to respond to your specific concerns.  As a commercial lender, CFLBC invests a significant amount of resources into developing its client base and reaching out to those who are in need of financing.  As part of this process, CFLBC reviews public records on file with each state.  Among these records are UCC (“Uniform Commercial Code”) financing statements.  These statements are often filed where a creditor retains collateral or an interest in certain business property or assets.  The financing statements serve as notice to the public that the particular business property listed in the financing statement secures a debt.  These financing statements provide security to lenders, resulting in lower interest rates and higher lending amounts.
In this specific case, the mailer you received from CFLBC informed you there was a UCC financing statement filed against certain property relating to your business.  This was because the state where you do business presently maintains a financing statement on file relating to you, your business and/or your business property.  The contact information CFLBC used to mail you the circular was obtained through your state’s public records.  In fact, this is exactly what CFLBC’s letter to you explains: (1) that a UCC lien is on file regarding your property; and (2) the lien indicates that a lender has asserted it is owed money and maintains a security interest in your property.
Importantly, CFLBC’s letter further explains that a lender’s lien may cover inventory, receivables and even cash-on-hand.  This is frequently the case with highly leveraged financing agreements, business purchases or sales.  We have found that many times, our clients do not truly understand or appreciate the extent of the collateral they have given up to simply finance their business.  That is why we send this circular - to inform small business owners that a lien is filed which may be affecting their ability to obtain credit and that CFLBC has pre-approved them despite such a lien.
CFLBC’s letter further explains their market advantage versus the big banks: CFLBC can lend to small business owners when the big banks cannot –many times, regardless of lien status and financials showing little or no gross profit.
CFLBC appreciates the concerns you have raised.  The correspondence at issue was an offer for potential financing based on CFLBC’s careful review and analysis of public records. It was not – nor has it ever been – CFLBC’s intent to fabricate any information or mislead any potential customers. If you believe that the information contained in CFLBC’s circular was incorrect, such as the recording of the financing statement, the potential non-payment of the debt, or that a particular lender asserts you owe them money, CFLBC directs you to your local secretary of state and the lender who is asserting a lien against you.
 
Cordially,
 
[redacted]
Customer Service

If you would like to post a public reply to this matter, please use the following as the reply:                 First, Bank of Cardiff has diligently investigated this complaint and attempted to find out exactly what happened in this case.  In doing so, legal counsel for Bank of Cardiff spoke directly with Ms. [redacted] as well as counsel for [redacted].  Bank of Cardiff has taken this matter seriously and openly shared information and data regarding this mailer with Ms. [redacted], the Revdex.com and [redacted].  Bank of Cardiff has spent a significant amount of time responding to this matter.                  Second, with regard to this complaint, it appears that Bank of Cardiff was provided with erroneous information regarding the status of a commercial property lien and Ms. [redacted].  Bank of Cardiff was able to independently confirm that public records do indicate, in fact, that a lien was filed in relation to the very suite where Ms. [redacted] maintains her office.  However, Bank of Cardiff’s public records provider appears to have associated Ms. [redacted]’s name with that lien based on her office address and exact suite number.  For that reason, Ms. [redacted] was sent a mailer by Bank of Cardiff.                  Third, the particular mailer that was sent to Ms. [redacted] was simply an advertisement for Bank of Cardiff’s commercial lending services.  Bank of Cardiff’s mailers are only sent to select businesses based on criteria selected by Bank of Cardiff.  In this case, Bank of Cardiff used public data associated with Uniform Commercial Code filings (i.e., businesses with a prior commercial borrowing history).  These mailers were sent to businesses and not individual consumers.  The mailer was clearly an offer for a business line of credit.                 Again, it was not, nor has it ever been, Bank of Cardiff’s intent to cause alarm or provide misinformation to a potential business customer. Thanks,[redacted]Tel: [redacted]Fax: [redacted]This message, together with any attachments, is intended only for the use of the individual or entity to which it is addressed and may contain information that is legally privileged, confidential and exempt from disclosure. If you are not the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this message, or any attachment, is strictly prohibited.  If you have received this message in error, please notify the original sender or [redacted] at [redacted] immediately by telephone or by return e-mail and delete this message, along with any attachments, from your computer.  Thank you.

I have worked with the Bank of Cardiff, specifically [redacted]. They have very professional and took care of my needs in a very timely manner.
I would recommend to any small business in need of capitalization get in touch with theses guys.
Thanks again Nicole.