Beacon Hill Funding

Revdex.com: I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted] I have an issue with the response from [redacted] ***, Here are the deatails- I trusted Beacon Hill Funding to the fact I asked [redacted] if I need anymore paperwork to finish this lease? And he said NO you are all approved, nothing more, Also I told [redacted] I have no documents, Or accounts for this company before we started this prossess, I told [redacted] The checking account was in my personal name at the begining of this processThats why I agreed to move forward, Now I sign paperwork for lease at $month, and the next day they need more paperwork I cannot produce, now what? They say payment will be $month, no way, that does not even make sense, thats nearly $for a $10,machine! I have been through this same bait and switch situation before and WILL NOT play this game again! I insist they refund my deposit money of $(first and last month rent, $prefund, and for paperwork Also my company is more than just mobile home deconstruction and auto sales, I wear many hats which also include the following, [redacted]

[redacted] definitely did not tell us beforehand that he had no paperwork to prove he had an actually company We would not have wasted any time We only started to question the information on his application after we found out the he used to sell cars years ago and recently started do demolishing which is what the equipment that we were financing was going to be used for He stated that on the app that the business started back in under [redacted] Services There was never a tax return filed, no insuranceHe filed for a tax Id # in There is no bait and switch hereWe base our approvals/proposals on the information provided by a customer and once there is a red flag we have to inquire We then uncovered that this was just more of a side job than a business and most of the time just to get scrap metal not to receive payment, We are not in business to waste time that is why in this industry we always send out proposals assuming in good faith that the customer is being straight with us The only reason I am stating that I will send back 1/the money is I do believe that it is possible [redacted] did not intend to give us the wrong information but he just doesn't understand what is and what isn't a real business We will stick to our offer of sending back half his moneyI believe that is more than fair and more than what he would receive from any competitorThe time that my reps have spent on this deal, which is due to his mis-information, I have already paid out more in salary time than to what I would be keeping

Based on ***'s response he clearly hasn't taken any responsibility for the fact that he gave us the wrong information to approve his loan.? Just because you do something on the side doesn't make it a business.? We spend a lot of time on these deals and rely on our customers to give us the correct information which [redacted] clearly did not.? We do many loans and are not in the business to bait and switch.? I've been in this industry since and would not be if that was the way I conducted our businessIf after the fact we find conflicting information our funding sources would always take 2nd look are reconsider and make sure the risk is acceptable.? We went from having a business that supposedly started in to one that started in 2015.? In the finance industry that is consider a start up business.? If giving the correct information in the beginning we would have sent him the correct payments then.? Our offer to send back 1/the money was completely fair.?

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # *** There are many definitions to what a Business is? check different dictionaries and you will get different answers, even though I did side jobs, I did many many different side jobs, that would be considered a business, Though I never made enough money to justify getting several different licenses, several different Insurance Policies, and all that goes with- due to the varity of my work, I started to advertise and Business started to take off this past year, I mean went over the top! Also *** cannot verify I filed my taxes, He is wrong, I did file and did not make enough to report on shedule C.now lets get back to the truth here, I sent *** *** a picture of my check about days prior to my signing paper work, why didnt the red flags come up then, just goes to prove that *** did indeed know that I had little paper as I told him at this time!Now this brings up another problem, since *** knew I had little or no paperwork days prior to approval of this lease, Why didnt he reject me then, This only concludes that there may have been Steering involved? Why not, *** will take the deposit monies after I sign and intimidate me not to return funds, Beacon Hill Funding realy gave me the Business and a sour taste in my mouth, nice way to do business!Now the contract I signed was for $10,lease was for $Month, and Beacon Hill Funding Refused to honor this contract, not me, since they have my money, the next few days they said they need more paper work or the payment jumps to $month, This does not even make sense? I told *** I would accept $To clear up this mess, that is all I ask for, I dont have time to play this siily game, All I ask is to return $of my $I put down on this equipment, I wil have no choice but to esculate this further if $is not returned, I am not saying any right or wrong, just ask to be reasonble about how this transaction was handled, and as far as the last paragragh of this goes there was no change in my business status,
Regards,
*** *** ***

See below an email that I sent to this customer on 2/7/18. I still have not heard back. I also just noticed this complaint today after a call from Revdex.com as the original email notifying me unfortunately went into my spam folder. We went through the entire process with this customer
where he signed both a proposal and full set of finance documents. The only thing left for them to do was to deal with an issue with their SOS which appears to still not be active. If their SOS is not active they are not an active business in their state. After they paid for it themselves we were still supposed to finance the equipment once they dealt with the SOS issue. The customer then disappeared and stopped returning calls. *** *** absolutely never said we were returning their down payment as we thought they were applying to a deal. Both proposal and documents state down payment is deemed as earned if customer backs out. As you can see below in email I sent and I gave the customer a couple options but was waiting to hear back. ***, *** just informed me about your deal so I looked back into the notes to see what this situation is. We do have $1,in from you but until he mentioned that we were under the impression that you were using that for a future deal. You did the original deal with *** *** who left the company in August. After looking into it further it looks like you signed a proposal that stated the your up front fees were deemed as earned if you backed out of the deal. All finance companies get signed proposals from our customers as it is very expensive to process these deals. You then signed a set of documents that also stated that it was non-cancellable. Both *** and my credit & funder worked this deal to the very end. The only thing that was left for you to do was to get your SOS active which it looks like it is still isn’t. If you do not have an active SOS then you do not have a legal entity so no finance company could have funded your deal until you got it active. You then wired the money to the vendor and were not returning *** phone calls. He finally reached you and told you that we could still finance that same equipment as a leaseback if your SOS was active. My funder also called SOS for you and found a solution for you to have it updated within a week. Then you stopped returning his calls again. It looks like *** was talking to you after that to apply it to screen printing equipment. We are not in business to keep your money but to fund deals I’m definitely not in business to lose money on deals and have customer back out after we went through the entire process. I’m sure you don’t return deposits if a customer changes his mind after you completed their project. I spent a lot of money on this deal and by contract could keep the entire $1,972.80. There are a couple options that I will consider. First, if you deal with your SOS issue and need more equipment we can apply that total to the new deal as long as it’s close to the same dollar amount. If not, I will split the difference and send half back and I would lose money doing so. Let me know if you plan on updated your SOS and want to do a new deal.

This customer did apply for financing for a *** *** under *** Services, a company that demolishes mobile homes. Based on his application we got him approved through a funding source and had him sign a proposal with the terms based on the information he provided on his
application. Prior to sending him out the finance agreement we asked *** to confirm some information that he supplied on his application as he put down that he had been in business since 1998. He looked around for paperwork for a few days and then stated he had nothing to provide us and that he really only started doing this business since 2015. Prior to that he did it for free to get scrap metal. The company never filed a tax return and there was never a legal entity created. We then found out that he used to have a business under a similar name called *** *** selling cars that he started back in but that he hadn't sold anything in years.The bottom line is *** thinks because he had some sort of business back in that it means his current business that he is starting should also be considered that he started it back in as well. We had him approved but he provided information. His payment increased because the funding source realized he was a start up business that required a higher rate.Even though I'm not required to do so. I told *** that I would send back 1/the money $even though he signed a proposal (based on the information he gave us to approve) with the clause below. "The commitment fee shall be forfeited in its entirety and deemed as fees earned should Debtor fail to proceed with transaction after agreeing to these terms and signing this proposal. There shall be no material change or prospect thereof in Debtor’s structure, ownership, financial condition or operating trends or credit of the applicable guarantors between the date of the application to Beacon Hill Funding and the date of the funding of the transaction."

See below an email that I sent to this customer on 2/7/18. I still have not heard back. I also just noticed this complaint today after a call from Revdex.com as the original email notifying me unfortunately went into my spam folder. We went through the entire process with this customer
where he signed both a proposal and full set of finance documents. The only thing left for them to do was to deal with an issue with their SOS which appears to still not be active. If their SOS is not active they are not an active business in their state. After they paid for it themselves we were still supposed to finance the equipment once they dealt with the SOS issue. The customer then disappeared and stopped returning calls. *** *** absolutely never said we were returning their down payment as we thought they were applying to a deal. Both proposal and documents state down payment is deemed as earned if customer backs out. As you can see below in email I sent and I gave the customer a couple options but was waiting to hear back. ***, *** just informed me about your deal so I looked back into the notes to see what this situation is. We do have $1,in from you but until he mentioned that we were under the impression that you were using that for a future deal. You did the original deal with *** *** who left the company in August. After looking into it further it looks like you signed a proposal that stated the your up front fees were deemed as earned if you backed out of the deal. All finance companies get signed proposals from our customers as it is very expensive to process these deals. You then signed a set of documents that also stated that it was non-cancellable. Both *** and my credit & funder worked this deal to the very end. The only thing that was left for you to do was to get your SOS active which it looks like it is still isn’t. If you do not have an active SOS then you do not have a legal entity so no finance company could have funded your deal until you got it active. You then wired the money to the vendor and were not returning *** phone calls. He finally reached you and told you that we could still finance that same equipment as a leaseback if your SOS was active. My funder also called SOS for you and found a solution for you to have it updated within a week. Then you stopped returning his calls again. It looks like *** was talking to you after that to apply it to screen printing equipment. We are not in business to keep your money but to fund deals I’m definitely not in business to lose money on deals and have customer back out after we went through the entire process. I’m sure you don’t return deposits if a customer changes his mind after you completed their project. I spent a lot of money on this deal and by contract could keep the entire $1,972.80. There are a couple options that I will consider. First, if you deal with your SOS issue and need more equipment we can apply that total to the new deal as long as it’s close to the same dollar amount. If not, I will split the difference and send half back and I would lose money doing so. Let me know if you plan on updated your SOS and want to do a new deal

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ***
I have an issue with the response from *** ***, Here are the deatails- I trusted Beacon Hill Funding to the fact I asked *** if I need anymore paperwork to finish this lease? And he said NO you are all approved, nothing more, Also I told *** I have no documents, Or accounts for this company before we started this prossess, I told *** The checking account was in my personal name at the begining of this processThats why I agreed to move forward, Now I sign paperwork for lease at $month, and the next day they need more paperwork I cannot produce, now what? They say payment will be $month, no way, that does not even make sense, thats nearly $for a $10,machine! I have been through this same bait and switch situation before and WILL NOT play this game again! I insist they refund my deposit money of $(first and last month rent, $prefund, and for paperwork. Also my company is more than just mobile home deconstruction and auto sales, I wear many hats which also include the following,
*** *** ***

Based on [redacted]'s response he clearly hasn't taken any responsibility for the fact that he gave us the wrong information to approve his loan.? Just because you do something on the side doesn't make it a business.? We spend a lot of time on these deals and rely on our customers to give us the correct information which [redacted] clearly did not.? We do many loans and are not in the business to bait and switch.? I've been in this industry since and would not be if that was the way I conducted our businessIf after the fact we find conflicting information our funding sources would always take 2nd look are reconsider and make sure the risk is acceptable.? We went from having a business that supposedly started in to one that started in 2015.? In the finance industry that is consider a start up business.? If giving the correct information in the beginning we would have sent him the correct payments then.? Our offer to send back 1/the money was completely fair.?

[redacted] definitely did not tell us beforehand that he had no paperwork to prove he had an actually company.? We would not have wasted any time.? We only started to question the information on his application after we found out the he used to sell cars years ago and recently started do demolishing which is what the equipment that we were financing was going to be used for.? He stated that on the app that the business started back in under [redacted] Services.? There was never a tax return filed, no insuranceHe filed for a tax Id # in 2015.? There is no bait and switch hereWe base our approvals/proposals on the information provided by a customer and once there is a red flag we have to inquire.? We then uncovered that this was just more of a side job than a business and most of the time just to get scrap metal not to receive payment,? We are not in business to waste time that is why in this industry we always send out proposals assuming in good faith that the customer is being straight with us.? The only reason I am stating that I will send back 1/the money is I do believe that it is possible [redacted] did not intend to give us the wrong information but he just doesn't understand what is and what isn't a real business.? We will stick to our offer of sending back half his moneyI believe that is more than fair and more than what he would receive from any competitorThe time that my reps have spent on this deal, which is due to his mis-information, I have already paid out more in salary time than to what I would be keeping

This customer did apply for financing for a [redacted] under [redacted] Services, a company that demolishes mobile homes.? Based on his application we got him approved through a funding source and had him sign a proposal with the terms based on the information he provided on his
application.? Prior to sending him out the finance agreement we asked [redacted] to confirm some information that he supplied on his application as he put down that he had been in business since 1998.? He looked around for paperwork for a few days and then stated he had nothing to provide us and that he really only started doing this business since 2015.? Prior to that he did it for free to get scrap metal.? The company never filed a tax return and there was never a legal entity created.? We then found out that he used to have a business under a similar name called [redacted] selling cars that he started back in but that he hadn't sold anything in years.The bottom line is [redacted] thinks because he had? some sort of? business back in that it means his current business that he is starting should also be considered that he started it back in as well.? We had him approved but he provided information.? His payment increased because the funding source realized he was a start up business that required a higher rate.Even though I'm not required to do so.? I told [redacted] that I would send back 1/the money $even though he signed a proposal (based on the information he gave us to approve) with the clause below.? "The commitment fee shall be forfeited in its entirety and deemed as fees earned should Debtor fail to proceed with transaction after agreeing to these terms and signing this proposal.? ? ? There shall be no material change or prospect thereof in Debtor’s structure, ownership, financial condition or operating trends or credit of the applicable guarantors between the date of the application to Beacon Hill Funding and the date of the funding of the transaction."

Based on [redacted]'s response he clearly hasn't taken any responsibility for the fact that he gave us the wrong information to approve his loan.  Just because you do something on the side doesn't make it a business.  We spend a lot of time on these deals and rely on our customers to give us the correct information which [redacted] clearly did not.  We do many loans and are not in the business to bait and switch.  I've been in this industry since 1997 and would not be if that was the way I conducted our business. If after the fact we find conflicting information our funding sources would always take 2nd look are reconsider and make sure the risk is acceptable.  We went from having a business that supposedly started in 1998 to one that started in 2015.  In the finance industry that is consider a start up business.  If giving the correct information in the beginning we would have sent him the correct payments then.  Our offer to send back 1/2 the money was completely fair.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].  
I have an issue with the response from [redacted], Here are the deatails-   I trusted Beacon Hill Funding to the fact I asked [redacted] if I need anymore paperwork to finish this lease? And he said NO you are all approved, nothing more, Also I told [redacted] I have no documents, Or accounts for this company before we started this prossess, I told [redacted] The checking account was in my personal name at the begining of this process. Thats why I agreed to move forward,   Now I sign paperwork for lease at $225 month, and the next day they need more paperwork I cannot produce, now what? They say payment will be $450 month, no way, that does not even make sense, thats nearly $25000 for a $10,000 machine!  I have been through this same bait and switch situation before and WILL NOT play this game again!  I insist they refund my deposit money of $925 (first and last month rent, $100 prefund, and 395 for paperwork.   Also my company is more than just mobile home deconstruction and auto sales, I wear many hats which also include the following,      
[redacted]

[redacted] definitely did not tell us beforehand that he had no paperwork to prove he had an actually company.  We would not have wasted any time.  We only started to question the information on his application after we found out the he used to sell cars years ago and recently started do demolishing which is what the equipment that we were financing was going to be used for.  He stated that on the app that the business started back in 1998 under [redacted] Services.  There was never a tax return filed, no insurance. He filed for a tax Id # in 2015.  There is no bait and switch here. We base our approvals/proposals on the information provided by a customer and once there is a red flag we have to inquire.  We then uncovered that this was just more of a side job than a business and most of the time just to get scrap metal not to receive payment,  We are not in business to waste time that is why in this industry we always send out proposals assuming in good faith that the customer is being straight with us.  The only reason I am stating that I will send back 1/2 the money is I do believe that it is possible [redacted] did not intend to give us the wrong information but he just doesn't understand what is and what isn't a real business.  We will stick to our offer of sending back half his money. I believe that is more than fair and more than what he would receive from any competitor. The time that my reps have spent on this deal, which is due to his mis-information, I have already paid out more in salary time than to what I would be keeping.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].  There are many definitions to what a Business is? check 5 different dictionaries and you will get 5 different answers, even though I did side jobs, I did many many different side jobs, that would be considered a business, Though I never made enough money to justify getting several different licenses, several different Insurance Policies, and all that goes with- due to the varity of my work, I started to advertise and Business started to take off this past year, I mean went over the top!  Also [redacted] cannot verify I filed my taxes, He is wrong, I did file and did not make enough to report on shedule C.now lets get back to the truth here, I sent [redacted] a picture of my check about 20 days prior to my signing paper work, why didnt the red flags come up then, just goes to prove that [redacted] did indeed know that I had little paper as I told him at this time!Now this brings up another problem, since [redacted] knew I had little or no paperwork 20 days prior to approval of this lease, Why didnt he reject me then, This only concludes that there may have been Steering involved? Why not, [redacted] will take the deposit monies after I sign and intimidate me not to return funds, Beacon Hill Funding realy gave me the Business and a sour taste in my mouth, nice way to do business!Now the contract I signed was for $10,000 lease was for $225. Month, and Beacon Hill Funding Refused to honor this contract, not me, since they have my money, the next few days they said they need more paper work or the payment jumps to $450 month, This does not even make sense? I told [redacted] I would accept $800. To clear up this mess, that is all I ask for, I dont have time to play this siily game, All I ask is to return $800 of my $925 I put down on this equipment, I wil have no choice but to esculate this further if $800 is not returned, I am not saying any right or wrong, just ask to be reasonble about how this transaction was handled, and as far as the last paragragh of this goes there was no change in my business status, 
 
Regards,
[redacted]