Capify, formerly known as AmeriMerchant

Review: There are two issues to be reported. The first issue involves how the process took place. I applied and was approved for a loan in the amount of $15,000 from AmeriMerchant against my future credit card sales. I was told that once approved, in order to be funded, I had to change the bank where my current credit card processing was going. I was told that I needed to have my card processing sent to a third party bank ([redacted] in [redacted]) to confirm that the company had a process in place to receive payments on the loan I was promised. After switching as requested, they begin to collect and hold my credit cards BEFORE I was funded. After complaining that I was not receiving any funds from my own credit card processing and nor had I been funded, the vice president of the company ([redacted]) apologized, got me funded that Friday and told me to switch back to former banking system and he would help me set up another form of payment on the loan. After switching back, I was asked to give the company limited on line access to my account and they would retrieve their ten percent as agreed for the loan payments. I was informed by my bank that there was no such thing as 'limited' access and that I should open a special account just for the company so they could obtain their 10 percent, and that I should send proof of my processing so that the amount could be verified. After a few days and contact with the company, it was determined that they were not in agreement with this method, but someone would call me to develop a different method. After a week, I was told that I needed to use their processing company instead to facilitate the process. Since I was already under contract with a processor, I was not willing to do this. Another week went by with no payments made, at which time I offered to send payments in until we could come up with a viable solution. I was told this was not acceptable since it was outside of the scope of the agreement. On September *, I received notice from my credit card processor that ALL my funds had been seized and until I agreed to go back to their third party bank, I would not receive any of my credit card purchases. This amount was more than $5,000. Upon being harrassed by their attorney's and forced to sign a letter of release authorizing thenm to take half the money, I made the necessary changes and begin having the processing go through their third party bank again. But for three weeks, 50 percent of my profits were held and then half were taken. Since I owed 10 percent for those thirty days I didn't fight this process. However, my rent got behind, I had over $900 in bank fees because none of my items were paid, I was not able to pay my bills and I eventually had my bank account forced closed. Although I have a new account, my deposits are coming in sparactically or not at all in some cases. Since October * until today, I have received three deposits total, although I have batched funds out daily. The company claims there has been a bank error and [redacted] has not been sending the deposits. Althugh when I made a call to [redacted] to confirm this information, I was told they could not confirm or deny this claim and instructed me to call the company to get further informaton. This situation has caused my business great anguish and I still don't have my profits from more than a week ago. Yet, I have depleated my supplies, I still have rent obligations and utilities to pay. I am making the money, but they are holding it for days at a time and sending it whenever they want. I would like someone to look into this issue please. I am being held hostage to use their bank and they are not keeping their end of the deal, which is to take their 10 percent and send me my funds immediately after.Desired Settlement: I would like my funds sent to me with no delays. If this can not be done, I would like to mail my payments in daily or weekly based on my batches and have my credit cards sent directly to my bank - no middle person. The way things are being done, I have a four-day delay - when they do send the funds on time. It takes two days for my processor to send it to them and then another two days for them to send it to me. I was on next day funding before this loan. And this week, they have missed three days completely so my deposits are now one week behind. I can't afford to sell food and get the funds seven days later. I have called and tried to speak with the president of the company when this situation first occurred with the seizing of my funds only to be told there is nothing that can be done, I must do things their way. Now that I am doing exactly what they want, I am still NOT getting my funds.

Business

Response:

This is a response to complaint # [redacted] by [redacted] as against AmeriMerchant LLC.

Background

On or about July **, 2013 [redacted] ("Merchant") was funded

$15,000.00 wherein and whereby she sold her future credit card receipts at a

discount for a cash payment up front. This advance is paid back by

AmeriMerchant receiving 10% of each credit card payment made at the Merchant's

business. In order for AmeriMerchant to get paid the bank account to

which the Merchant's approved processor remits payment must be changed to a

deposit account at [redacted] (the "Deposit Account") whereby

once in the account 90% goes to the Merchant and 10% to AmeriMerchant. The

Merchant was wired its funds ($15,000.00) on July **, 2013 and

AmeriMerchant received its 10% percentage on July [redacted] and July [redacted] and

thereafter the payments stopped as a result of the Merchant changing the

Deposit Account to Merchant's own account thereby immediately violating the

agreement. The fact that the funds are being remitted to a Deposit Account

before being sent to the Merchant via ACH, adds 48 hours to the process

of the Merchant receiving its funds something that was explained. This

violation continued until AmeriMerchant's legal department had to get involved

as will be shown below.

There are a few inaccuracies with the Merchant's account which shall be

addressed here. (The Merchant Statements copied below are copied directly

from the complaint so any spelling or grammar errors are copied that way as

well. )

Merchant Statement "After switching as requested, they begin to

collect and hold my credit cards BEFORE I was funded. After complaining

that I was not receiving any funds from my own credit card processing and nor

had I been funded, the vice president of the company ([redacted]) apologized, got me

funded that Friday and told me to switch back to former banking system and he would

help me set up another form of payment on the loan."

AmeriMerchant Response The first percentage of 10% taken was on the date

of funding. In the agreement, Merchant acknowledges that AmeriMerchant

has the right to a short processing trial (the "Processing

Trial") to ensure that the payment mechanism (here the Deposit

Account) is set up correctly. In signing the agreement Merchant agreed to

the Processing Trial as described therein. There was nothing outside of

the scope of the agreement that was done in this instance. Once payment

mechanism was confirmed after one credit card receipt, the merchant was funded

that same day. Merchant was never told to switch the bank account by [redacted]

from the Deposit Account nor would anyone from AmeriMerchant counsel her to do

that. Merchant agreed to what Merchant's statement suggests and

AmeriMerchant did nothing wrong. By Merchant switching back to their bank

account they immediately violated and defaulted under the Agreement.

Merchant Statement "After switching back, I was asked to give

the company limited on line access to my account and they would retrieve their

ten percent as agreed for the loan payments. I was informed by my bank that

there was no such thing as 'limited' access and that I should open a special

account just for the company so they could obtain their 10 percent, and that I

should send proof of my processing so that the amount could be verified. After

a few days and contact with the company, it was determined that they were not

in agreement with this method, but someone would call me to develop a different

method. After a week, I was told that I needed to use their processing company

instead to facilitate the process. Since I was already under contract with a

processor, I was not willing to do this. Another week went by with no payments

made, at which time I offered to send payments in until we could come up with a

viable solution. I was told this was not acceptable since it was outside of the

scope of the agreement."

AmeriMerchant Response: The start of this statement of "After

switching back" is false. Merchant showed no good faith and did not switch

back to the Deposit Account. In our experience people who violate the

Agreement within the first 30 days (let alone first 3 days as here) typically

intended to commit fraud against AmeriMerchant. This has to be prefaced with

the fact that this almost never occurs.

In terms of the limited online access, AmeriMerchant has a technology company

it has partnered with (used by thousands of companies worldwide for

payments which has a partnership with most [redacted] (including [redacted]) wherein and whereby the technology company is able to view the

processing volume of the Merchant and then automatically debut the percentage

here 10% however Merchant was unwilling to do this either and was only willing

to make payments This

offer to change the repayment to utilize the technology company was done to

help the Merchant.

Thereafter AmeriMerchant offered to switch Merchant to AmeriMerchant's

partner processing company that would also alleviate any delay. Merchant

refused this as well. AmeriMerchant continued to try and work with the

Merchant but no good faith was shown. That caused AmeriMerchant to get

their legal counsel involved to invoke remedies available under the

Agreement. This was not done until the beginning of September over a

month after default. Additionally the payments the Merchant proposed were

small payments that further showed the lack of good faith and that the Merchant

was trying to avoid paying 10%.

Merchant Statement: On September *, I received notice from my credit

card processor that ALL my funds had been seized and until I agreed to go back

to their third party bank, I would not receive any of my credit card purchases.

This amount was more than $5,000. Upon being harrassed by their attorney's and

forced to sign a letter of release authorizing thenm to take half the money, I

made the necessary changes and begin having the processing go through their

third party bank again. But for three weeks, 50 percent of my profits were held

and then half were taken. Since I owed 10 percent for those thirty days I

didn't fight this process. However, my rent got behind, I had over $900 in bank

fees because none of my items were paid, I was not able to pay my bills and I

eventually had my bank account forced closed. Although I have a new account, my

deposits are coming in sparactically or not at all in some cases.

AmeriMerchant Response: Correct after trying to get the Merchant to

show some sort of good faith we had to get our legal counsel involved and now

incur legal fees as a result of the default. Credit card receipts were

held after our attorney served notice on Merchant's processor per the Uniform

Commercial Code. AmeriMerchant had not received its 10% for over a month

and our attorney did not harass the Merchant but ensured that the Merchant

cured the default. Additionally Merchant owed the 10% from the over a

month that AmeriMerchant was not receiving their percentage. the 50% of

the funds on hold were about the amount AmeriMerchant projected to have

received over the month plus. Merchant even indicates "Since I owed

10 percent for those thirty days I didn't fight this process." The

fact that this caused other issues is a situation that the Merchant caused by

defaulting.

Merchant Statement: Since October * until today, I have received three

deposits total, although I have batched funds out daily. The company claims

there has been a bank error and [redacted] has not been sending the deposits.

Althugh when I made a call to [redacted] to confirm this information, I was

told they could not confirm or deny this claim and instructed me to call the

company to get further informaton. This situation has caused my business great

anguish and I still don't have my profits from more than a week ago. Yet, I

have depleated my supplies, I still have rent obligations and utilities to pay.

I am making the money, but they are holding it for days at a time and sending

it whenever they want. I would like someone to look into this issue please. I

am being held hostage to use their bank and they are not keeping their end of

the deal, which is to take their 10 percent and send me my funds immediately

after.

AmeriMerchant Response: Unfortunately [redacted] did have an issue

with their system. [redacted] worked diligently to solve the

issue. The Merchant was wired their 90% as soon as the issue was rectified.

[redacted] Bank provided us a letter of apology and explanation for this issue

(which affected their entire bank not just AmeriMerchant accounts) which we can

provide to the Merchant as well.

There is no way to speed up the way in which Merchant gets their funds here

since Merchant was not willing to switch their processing or use the technology

company when offered. Merchant received a $15,000 advance from AmeriMerchant

which thereby took a risk on this Merchant. Our other customers would

either switch processing or do not mind the 48 hour delay. There were no

other Revdex.com complaints as a result of the issue with our bank and all has been

rectified.

In conclusion:

-Merchant violated the agreement and defaulted only a few days after

being funded

-Merchant refused any of the accommodations AmeriMerchant suggested to mitigate

or alleviate the issues the Merchant was allegedly experiencing

-While there was an issue with the bank this past week which was explained to

the Merchant, (which the Merchant did not believe) AmeriMerchant mitigated the

risk and immediately wired the funds to Merchant so there was no further delay

with the processing.

-Once the Merchant is paid off in full the parties will go their separate ways

however AmeriMerchant offered several accommodations to Merchant and

unfortunately it took AmeriMerchant legal counsel to get involved to get the

Merchant to cure their default.

- AmeriMerchant is hopeful that this explanation answers the complaint

adequately and we welcome the Merchant to call and discuss this

further.

Review: Amerimerchant provided my company with a loan fall of 2012 with the agreement that I would repay $90.93 per business day until the loan was repaid with interest. July *,2013 they stopped the ACH drafts from my account and I assumed the loan was paid in full. I then received an email and phone call July **, 2013 from [redacted] with Amerimerchant stating that my account was delinquent. In shock I stated that's impossible because I have NEVER missed a payment and that on July *, 2013 you had stopped taking the daily withdrawals. He then stated that I owed approximately $827.00 to pay this account off in full. He said he could resume the $90.93 daily drafts until paid in full. I told him to go ahead and withdrawal this amount that was owed of $827.00 and send me an email conformation that its paid in full. I then later that day received another call from a different rep stating I only owed $372.00 and that is what they will be taking. Relieved I agreed with the withdrawal. I then wanted to confirm the amount so I decided to call just to verify the withdrawal amount for the next day. The new rep [redacted] then stated that I owed approximately $1300 plus and that they will deduct the full amount from my account the next day. I then told them that I only budgeted for the original amount that was told to me earlier of $827.00 and then I was told $372.00. I told them that this is getting ridiculous. I told them since the amount has increased I do not have the appropriate funds available on such short notice. (Mind you this is at 5:55 pm that evening.) The rep [redacted] stated well there’s nothing they can do we already put it through. At this time I am starting to get very upset. I then rushed to transfer the appropriate funds into that account to insure it was available for withdrawal. The rep also assured me that they would correct the issue and credit my account after they completed their investigation on what the true number actually was. Well the next day the draft was NOT taken so I called their office. They stated they do not know why the draft did not come out and they would look into it. I then received a call from a [redacted] who stated that they will NOT take any more drafts from my account until they completed the investigation. She also said it was a glitch in their system and this is why they were not able to complete the original $90.93 back on July [redacted]. She said once its fixed she will call me and give me the true number owed and they will resume with the $90.93 payments. Well 2 weeks later I never heard back from anyone so I called in. I then yesterday noticed that Amerimerchant tried to debit $2,072.44 from my account which was returned because I did not have the appropriate funds available. I was also charged a $25 NSF fee from my bank. I immediately called them and spoke with the original rep [redacted] who I spoke with on July [redacted] and told him of the problem. He stated that they should have only taken $272.44 not $2072.44 and that it was an error. He said he will look into and call me back before the end of the day. Well a few hours late around 5:30 pm 30 minutes before they closed I called back. He then said “Uh well uh hang on a second and let me see if they know anything”. I then expressed that I was nervous because I was transferring my payroll into that account and I was afraid that they will make another unauthorized debit from my account. I told him that this is so unprofessional and that I will no longer be doing business with them in the future. He then said let me place you on hold and see what going on. He then thought he had me on hold and decided to cut jokes about me not realizing I wasn’t on hold. Laughing in the back ground saying “He’s afraid they we are going to clean out his account.” So rude. Anyways he comes back on and said someone will call me today. I’m sick of these people, they are nothing but a joke. They need to rectify this otherwise my next call is to my attorney. If this has a negative effect on my credit report I will file a civil suit with Amerimerchant. I have all these calls recorded and I have them all archived. They were disclosed that the calls were recorded. [redacted] Legal Help Experts LLC ###-###-####Desired Settlement: I would like them to first correct the billing issues. I would like them to reimburse me the $25.00 NSF fee I was charged due to there errors, and honestly I would like a credit for all the hardship they put me through.

Business

Response:

This is a response to complaint ID [redacted]. Please be advised that AmeriMerchant LLC and its affiliates take these complaints very seriously. On or about July *, 2013 AmeriMerchant started using a new service for its ACH capability under its business loan product offered by its affiliate. As a result of said service change there was an issue that came to our attention with regards to the way the ACH was processed. Unfortunately with this customer the bank account information was not correct and the ACH debits therefore stopped. This was not as a result of anything the customer did or did not do. As a result of the error the ACH debits were bouncing and fees were being added to the balance. There seemed to be some confusion as to the balance as a result. We treat our customers with dignity and respect and any allegations as to service are being investigated. Additionally, the customer was refunded the $25.00 they requested. The customer was explained the entire situation by a senior customer service representative and the issue was worked out. Since this complaint was filed the customer entered into an additional loan agreement with us and this issue has been resolved. As indicated we take all of these complaints seriously and this was no exception. In conclusion the $25.00 was refunded and customer has entered an additional loan with us. The complaint in our mind has been resolved.

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: This company, who is also merchant advance dot com has been harassing me by phone, using ghost numbers that the typical person cannot trace. They have continually called my phone during evening hours and the afternoon. Today I was able to get the operator [redacted] to give up the company name before she hung up on me after I told her that her company had called me several times. [redacted] is the company owner and is responsible for the actions of his company. This company has committed a felony by calling my phone half a dozen times in the last few days, as I am on the NATIONAL DO NOT CALL LIST. After telling his employees about this, they expressed no concern and refused to get me a manager to try to resolve this issue. I called several times only to receive horrible customer service, including being hung up on more then once. The customer service supervisor named [redacted] refused to get me a manager and told me "This phone call will not go beyond me", this is after I told him I may seek legal action if he didn't get me a manager. This [redacted] person gave me an ultimatum, either talk to him or go ahead and file suit. I am well within my right to sue for harassment according to Federal and State law.Desired Settlement: I would like an official apology in writing and a written guarantee this company or any affiliated company will never use, release or call my phone number ever again.

Business

Response:

This is a response to Complaint #[redacted].

Please be advised that our company, AmeriMerchant takes these complaints very seriously. Before addressing the actual complaint two items should be known. The industry in which AmeriMerchant is a part of is known as Merchant Advance industry and the product offered is Merchant Advance. AmeriMerchant has a company called MerchantS Advance and has a website [redacted]. That being said,

Neither AmeriMerchant nor any of its affiliates cold or robo call for business. Additionally, if there are calls made to business owners it is only to owners who are NOT on the do not call list. This company that the complainant has lodged a complaint against does not call prospective customers. Merchants Advance is a funding Company and NOT a marketing company. AmeriMerchant is however a sales company but does not cold call merchants. That being said, I as COO of the company called and spoke with the complainant myself. He was belligerent on the phone and was not willing to listen. My staff advised me that he was equally belligerent to them. So to say that he was unable to speak to a manager is blatantly untrue.

Furthermore, as indicated above nobody from our company cold called this person. We believe that the complainant heard the person pitching a merchant advance and assumed it was our company. While we sympathize with the complainant we cannot apologize for something we did not do but when he did call if any of our staff was rude to him we apologize for that. That being said I will reiterate that I called the complainant myself and he was belligerent and would not listen.

To recap.

Merchants Advance does not cold call merchants. Merchants Advance solicits nobody and is not a brand used to market in any circumstance. We hope that this response is adequate and will close this matter.

Sincerely yours

Review: This company pulled my credit for some unknown reason. It is a hard inquiry so adversely effects my credit score. I have not authorized this company to pull my report and they refuse to remove. They just pass the call around. After I went full circle they hung up.Desired Settlement: Remove from my report and a formal apology.

Business

Response:

AmeriMerchant is in receipt of complaint [redacted] and takes

these types of complaints seriously. The complainant has alleged that

AmeriMerchant has pulled his credit without authorization thereby negatively

affecting credit score. Please be advised that AmeriMerchant has very strict

credit policies and we do not pull credit unless we have authorization in

writing to do so. In this case AmeriMerchant received an application dated

February **, 2014 from the complainant to procure working capital for its

business [redacted]. The application gave written

authorization to pull credit and was signed by the complainant. Credit was

pulled on March *, 2014 and the complainant’s company was conditionally

approved for working capital. Thereafter on March *, 2014 the business of

complainant was declined due to issues with the business. In summary

AmeriMerchant was authorized to pull credit and it was done as a result of

clear written authorization by complainant. We are hopeful that this

matter will be deemed closed by the Revdex.com.

See the attached application with complainant's signature and authoritarian.

[redacted]

Business

Response:

We are responding to the additional follow-up from the customer

who alleges that he never signed the application that we provided that gave our

company the right to pull his credit. AmeriMerchant takes these claims

seriously and in the ten plus years in business we have never been accused of

pulling credit when not authorized. The complainant was conditionally approved

for a loan through our company and we received back-up in the form of

statements from the complainant, his drivers license and his business license

in furtherance of the application. It was not until we learned that the

complainant was in collections with a competitor wherein we received a payoff

letter from their attorney that the loan from complainant was declined. Finally,

in reviewing the file it seems that several of our competitors pulled credit in

the year prior to our inquiry. The complainant seems to be alleging that

the application was submitted fraudulently however nothing was said when the

approval process was undertaken.

Review: This last December I renewed a cash advance with this company. It is a systyem based on C/C sales. As usual it took way to long. I have done three others with them and each one has had some kind of problem. This time they were switching banks again. They seem to do this alot. I was told that I needed to send a letter to my C/C processing company informing them of the new bank name and account # for the pass thru. I received the letter from Amerimerchant and sent it too my C/C processor ( [redacted]). I received an e-mail from them stating that it was done and that Amermerchant sent them an e-mail thanking them.

Now today I get a call from my son, stating that he received a text from Amerimerchantthreatening legal action. I called Amerimerchant and asked them what was going on? They stated that they have tried to get ahold of me on several occasions to get this resolved. I said that is not true since I have not received any contact from them since I faxed the letter. They said that they had tried to call my home #. I said I have not had that # in 3 years. And why would you call a home number when this is a business issue? You have my e-mail you have my business phone # and I have never called you from my home #? I told here that I e-mailed the letter from them on the 3rd of January. She called me a liar. I yelled at her called her and her company a bunch of is and then proceeded to tell her the facts that backed up my claim. I then asked for her boss and was denied the request. I yelled some more, told herr to go ahead and file a legal claim. and then hung up.

I called back and tried to get the owner of the company. As usual he was not available.

I called again and tried to go over Tamara's Head and get her boss I was given to her instead and I hung up again.

I have complained against this company before. I am not sure why I keep giving them the benefit of the doubt. I get stressed everytime I deal with them.Desired Settlement: An apology and refund of my fees for this last transaction. Also never ever call me again.

Consumer

Response:

This is a new complaint.

The previouscomplaint was somewhat resolved

I need from them a letter of apology and a reefund of my fees for this last trasaction.

Business

Response:

AmeriMerchant is in receipt of the complaint and takes these types of complaints seriously. Please be advised that on or about December **, 2013 the future credit card receipts of the complainant's business were purchased at a discount. The merchant received a $6300.00 advance for a payback of $8521. AmeriMerchant gets paid back by receiving a fixed percentage of the merchant's credit card receipts each day. The way this happens is that an intermediary bank account is hooked up to the merchant's credit card processor. When the funds hit that bank account AmeriMerchant gets their percentage, here 12% of each sale (after fees are taken out by the processor) and the merchant gets 88%. The merchant must provide a letter to their credit card processor to put this account into place. It is correct that AmeriMerchant recently started using another bank for this account and therefore needed a new bank letter to be submitted by merchant complainant. We do not know whether or not this was done but what we do know is that the bank account is not hooked up to the processor and therefore AmeriMerchant is not being paid. AmeriMerchant reached out to the merchant several times and finally got the merchant on the phone on 1/**/14. The representative from AmeriMerchant was polite until the merchant started cursing and threatening the representative. AmeriMerchant has been professional while merchant called AmeriMerchant is and said he is "getting on a plane". Additionally, AmeriMerchant has every right to threaten legal action given the default of the complainant merchant in not hooking up the bank account to allow AmeriMerchant to get paid. All AmeriMerchant wants is to have the bank account hooked up. As of January **, 2014 the bank account has still yet to be hooked up and the merchant complainant remains in default.

AmeriMerchant prides itself on its stellar Revdex.com rating. We do our best to ensure that our customers are happy. However, here the merchant complainant is not cooperating with us however they did receive the funds advanced. Thereafter, another collector reached out to the merchant to explain to the merchant very politely to explain how to switch the account to the intermediary pass through account. Merchant instructed processor to have 100% of funds sent to his personal account and the fees to come out of the pass through account. Merchant asked the owner of the company "to get some balls and call him." When merchant was told rep was calling on behalf of the company merchant said he "does not give a rats as." Merchant claims he has always had a bad experience yet he keeps coming back for additional funds. Merchant indicated if he ever gets a call again he will "be on a plane to NY to kick some as." This is not how someone should be dealing with a representative who is trying to help him when he is in default. Amerimerchant is just trying to resolve the issue.

We expect that the merchant complainant will cure its default immediately by switching the bank account the processor remits funds to the intermediary pass through account as opposed to the merchant complainant's bank account.Merchant hung up on our collectors and cursed at them. We reassigned a new collector to the account and have still seen no cooperation. AmeriMerchant has done nothing wrong here. The merchant complainant is in default of their agreement. AmeriMerchant has the right to refer this to our outside legal counsel to get this worked out and ensure compliance with the agreement given the ongoing default. This was not a threat but will be a result of the merchant's default. Once this account is referred we incur legal fees that get passed on to the merchant per the agreement. However we are willing to waive those fees if this account is cured in the next 3 business days. Our attorney will be told to hold off to allow us to work this out amicably. We expect that this issue will be rectified immediately.

Review: I heard about them on the radio, I called and spoke with [redacted], we filled out all the paperwork, got them everything they needed. I was told I had the loan and the money would be in my account in a day. I signed all the contracts (of which they changed the % fee from 23% to 25% . I did call them out on it. That is when the problems started. "the transfer will be Monday" then wed, then Fri then the underwriter was holding it??? this went on for 4 + weeks. I also filled out another Type of loan they offer and they still have not returned a call ? I have asked several times and have been waiting about 24 hours now for the person who withdrew the contracts to call me back. They have all my accounts info , my personal info , signed contracts , passwords to my accounts ... I feel like this has been a very big scam?Desired Settlement: I need them to hold to the contract they offered me. I am a small business that runs seasonally and the winter is my slow time. when they approved me and sent the contracts I started to get things moving and made commitments to gear up for the new season. now I am on the hook for money that they promised and pulled back on.

Business

Response:

AmeriMerchant is in receipt of complaint [redacted] and takesthese types of complaints seriously. AmeriMerchant has been in businesssince 2002 offering working capital to small businesses mainly by purchasingthe future credit card receipts of the small businesses and getting paid backby receiving a daily percentage of each credit card sale until paid infull. AmeriMerchant can only get repaid if the business is open. This is not a loan but the purchase and sale of future credit and/or debit cardreceivables. The application for this complainant came in on or aboutJanuary *, 2015 and was given a conditional approval for the purchase of hisfuture receipts on January *, 2014. The approval wasconditional on several items being received by underwriting and then a reviewof the credit file. Initially complainant was not compatible withAmeriMerchant’s automated collection system and sales was attempting to useanother manual process to get the deal done. When complainant sent in thedocuments required he also provided an offer from a competitor. At thattime AmeriMerchant revised the CONDITIONAL Approval upwards. Additionally thedeal was changed to 25% from 23% collection percentage (this is not a rate butthe percentage of credit card receipts collected daily to repay) when thepricing of the deal was improved for the complainant. A new conditionaloffer with a lower payback was given. Therefore AmeriMerchant wasdiscounting the purchase of the complainant’s future credit card receipts. A site inspection was then ordered to inspect thebusiness who was given the conditional approval. In order to provide afinal approval, AmeriMerchant conducted a merchant interview wherein they foundout that the merchant only has a handful of jobs lined up for the following 2months and slow until the summer. As indicated previously thisproduct repays based on credit card sales and underwriting was unaware merchantwould essentially be closed for a few months with limited business. Whilecomplainant wanted to go with AmeriMerchant the deal could not goforward. Sales and underwriting tried to make it work but were unable todo so given the complainant’s sales. Complainant indicated that if we cannot go forward he willhave to go with the other offer he had. On January **, 2015 underwritinginformed the merchant that the deal is reviewable when business increases andthat we are unable to proceed at this time. At that point AmeriMerchantassumed they went with the other offer. AmeriMerchant keeps all ofinformation it collected secure and private and provides working capital tomany small businesses throughout the country. However, in this caseAmeriMerchant’s model did not work given the slow pace of the merchant’sbusiness until summer. We hope that this clarifies the issues raised by thecomplainant and that this matter will be deemed closed.

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

They gave me a verbal Commitment never telling me I still needed to be approved or needed to be prossesing X-amounts of credit cards. they also stated mistruths about the %. the first one they gave me was 23% then after the $700.00 "DISCOUNT" ?? they raised it to 25%. and my emails tell me we started this in december and they told me in feb after holding me off "There was a Problem" and that only after I was told for about 2 days someone would call me back. when I filled out the form they asked if I was a seasonal business , I said yes, asked when we were slow I told them the winter. Also I never provided them with any other lenders offer. when they gave me a verbal commitment I stopped with the outher lenders.

Thank You for Your time... [redacted]

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

Business

Response:

AmeriMerchant has the right to approve or decline an applicantat its discretion. We apologize in this case that the merchant cash advancedid not make it to funding but our sales people and underwriters tried to makeit work and fit within our credit requirements. The changes to theamounts and the percentages were to try to get to that point. Unfortunately here we were not able to get to meet the criteria. Wecannot placate the applicant here as we are unable to provide a full approvalat this time (as opposed to a “conditional” approval previously provided). Perhaps when the applicant’s business is open full time we canevaluate the application once again.

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:

They are telling untruths. Nothing was done to "try to fit" anything. I asked [redacted] to give me his best offer and that’s what they did. They played games with me and my business; they mislead me with their advertising, forms and all the dozens of e mails and calls. They don’t even have the dates right? They sent me the app on dec * 2014. I feel this company is not honest, it is not there for the consumer and it misrepresents themselves on the radio and advertising. They have cost me thousands of dollars at this time due to the “verbal Commitment” and then pulling back. And remember they did not even have the courtesy of calling me back after the numerous calls I placed to them and was told “they will call you back today” I feel at this point they did nothing to “help Me” they did nothing to work with me I did everything they asked and told them in the beginning I was a seasonal business. I hid nothing from them YET they did. They NEVER told me , showed me or had it in print that I was only conditionally approved. What banking laws over see s this type of company? Thank You.. [redacted]

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

Review: As usual with this company they send out threatening letters before they try calling to see if there might be an issue.

Several times I have received letters threatening legal action for breach of contract. And every time it was the fault of there company or the credit card processing company. Never has it been my fault. I have always done what was asked of me. And yet everytime something is out of the ordinary I get a letter accusing me of breach of contract.Desired Settlement: Never to have any contact with them again.

Business

Response:

To whom it may concern,

AmeriMerchant is in receipt of complaint [redacted] and takes these types of complaints seriously. Please be advised that on or about December **, 2013 the future credit card receipts of the complainant's business were purchased at a discount. The merchant received a $6300.00 advance for a payback of $8521. AmeriMerchant gets paid back by receiving a fixed percentage of the merchant's credit card receipts each day. The way this happens is that an intermediary bank account is hooked up to the merchant's credit card processor. When the funds hit that bank account AmeriMerchant gets their percentage, here 12% of each sale (after fees are taken out by the processor) and the merchant gets 88%. This is the second complaint made by this merchant since his business was given the advance last December. The first complaint revolved around a new bank account and their failure to cure a default (which he cured after the Revdex.com response was interposed by AmeriMerchant). At this time the merchant is unhappy that AmeriMerchant is contacting him and accusing him of default. Previously, AmeriMerchant had every right to threaten legal action given the default of the complainant merchant in not hooking up the bank account to allow AmeriMerchant to get paid. Our legal department had to place the credit card processing of the merchant on hold in order to get the merchant to comply. AmeriMerchant has every right to contact the complainant for payment especially given the prior default. As indicated above AmeriMerchant gets paid a percentage of the receipts generated. This account is watched carefully given the history. As there has been a steep drop in processing the account has again caught our attention and we have taken the steps to ensure that the merchant is complying with the agreement.

AmeriMerchant prides itself on its stellar Revdex.com rating. We do our best to ensure that our customers are happy. However when this complainant received its funds there were problems necessitating the involvement of our outside counsel or collections department. Merchant hung up on our collectors.. Since the merchant is indicating that the default has never been his fault AmeriMerchant is trying to show that the letters and calls were as a result of history of noncooperation and default. AmeriMerchant has done nothing wrong here. The complainant previously cured their default after the prior response to his Revdex.com complaint. The merchant is now paying as agreed although the amounts being processed are much lower than history shows which prompted an investigation. As long as this complainant owes AmeriMerchant money and given the history of default my client will take the steps necessary to get any issue rectified. We are mindful of the complaint and once this complainant pays in full we can all go our separate ways. However until that happens AmeriMerchant will protect its investment especially given the prior defaults.

We are hopeful that this matter is rectified and there will be no need for further communication on this matter.

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:

BS. That is what I think of Amerimerchants response. This company goes straight to there legal Department before contacting the clients to see what, if any problems that might have happened. The first complaint on them was do to the banks not getting there act together. Had nothing to do with me. I had done everything that was asked of me. Again this company made no effort to contact me. But went straifght to making threats.

The second complaint was due again to them not trying to make contact with me to see what was going on. They again went straight to there legal department and started to make threats.

Again I must say that this company is one of the worst that I have seen when it comes to customer service.

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

Sincerely,

Business

Response:

AmeriMerchant values its customers. AmeriMerchant does not

just send claims to their legal department without cause. We value our

customers and are sorry that you had a bad experience. Once paid in full

we will agree to go our separate ways.