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Reviews iCapital Business Finance

iCapital Business Finance Reviews (9)

April 7, 2016Revdex.com [redacted] RE: Complaint [redacted] Dear Ms [redacted] :We are in receipt of your letter dated April 5, whereas Ms [redacted] has issued a complaint regarding a refund of depositThe allegations within her complaint are specifically denied in total.On July 20, Ms [redacted] entered into a consulting agreement (see enclosed) by and trough her business, [redacted] The purpose of this engagement was to obtain commercial financing for her businessAfter several months and many hours of work had been placed into this request Ms [redacted] withdrew her application stating that she had become frustrated and did not want to wait any longer.Upon her request a final invoice was generated evidencing nineteen hours of billable time had been expended on her behalfAt this time a goodwill credit of sixteen hours was applied to her account and the remainder of her deposit was refunded.For your reference, a copy of the agreement has been suppliedWhile we understand that not every client is going to be completely satisfied we do strive to allow for every possible consideration to be made in this regardThrough this entire process Ms [redacted] has been very abrasive to staff members extremely difficult to deal with, we feel that we have made every possible effort to satisfy her Best regards, JM [redacted] CC:File

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear belowIn response to the letter received from iCapital, I would have expected nothing differentThey investigated themselves, so we know just how thorough of an investigation that wasIt would have been better not to mention such silliness at all because all it says is “we lie all the time”About the amount of hours claimed is also a lieFirst of all, they would not give me a receiptNow they are saying they only spent hours which is considerably less than the previous claims of more than and now are claiming no charges for overnight shipping? Where did overnight shipping come from? Nothing was ever overnight shipped anywhereI couldn’t even get a return phone call or email for days at a timeThe bottom line is these people are practicing thieves and criminalsThe website says, “we will have an answer for you in as little as a few hours” And when I sent in my information I talked with Mark on the phone, and he told me congratulations! I had adequate credit score and information to get the SBA loan and he just needed me to wire him $for closing costsSo I figured it was a done deal so I sent him the money, and then I couldn’t reach anybody, and then when I did reach somebody I was told they are having a hard time “moving” it through underwritingAnd when I continued to contact them because nothing was going as I was told it was going to go, then I was sent this email and this is the text from that email "As far as the status of your loan is concerned we are still not able to move the file to approval, this is primarily based on the lack of acceptable financial projectionsBased on the inability to move your request any further and your disappointment with the overall level of service we have provided I have withdrawn your file and ordered the return of your remaining closing cost deposit.” Closing? You only close a loan after its been approved or there is nothing to closeEven the language is shady and misleading and by there own words owe me a refund because it was a DEPOSIT for closing costs, for a “closing” that never took place The information I sent in was basic, just a name address and phone number and a good credit scoreLater they requested financial projections which I put together with a nation wide organization called the [redacted] group that iCapital said was not acceptableThe [redacted] group specialize and teach financial projectionsOther then that, I had no assets, liabilities, titles or anything that would complicate the process so I can see why now the claimed number of HOURS worked on my behalf has been more than cut in half compared to what I was told on the phone Its time for iCapital to do the right thing and send me my refundThat is my money, I worked for it and you did notYou lied to me to get me to send the money in the first placeIf you choose not to send me what is mine, then I am pleased that finally there will be a public record of your actionsIf I would have seen this record, I would have never dialed your numberSo may this now save somebody else I pray Thank You [redacted] Regards, [redacted]

August 15, *** ***Revdex.comHoliday Drive, Suite 220Pittsburgh, PA RE: *** *** (***)
Dear Ms***:I am in receipt of your letter dated August 9,whereas you have indicated that an individual named ***
*** has informed your office that he is owed approximately $1,from a previously paid “application fee".This statement is specifically denied, in fact, Mr*** engaged our company on May 4, to perform specific consulting services as it related to his potential investment into a local "*** *** ***" franchiseServices were performed as per the scope of the agreement entered into between the partiesOn November 13, Mr*** directed us to withdraw his file as he was going to explore other options.On November 16, a final invoice was prepared and sent to Mr*** for payment, to date this invoice remains unpaid despite our attempts to collect the amount dueAt present, the matter has been referred to counsel so they may commence legal proceedings to collect the outstanding balance and attorney's fees.Best regards,
John M***CCO

April 7, 2016Revdex.com[redacted]
RE: Complaint [redacted]Dear Ms. [redacted]:We are in receipt of your letter dated April 5, 2016 whereas Ms. [redacted] has issued a complaint regarding a refund of...

deposit. The allegations within her complaint are specifically denied in total.On July 20, 2015 Ms. [redacted] entered into a consulting agreement (see enclosed) by and trough her business, [redacted]. The purpose of this engagement was to obtain commercial financing for her business. After several months and many hours of work had been placed into this request Ms. [redacted] withdrew her application stating that she had become frustrated and did not want to wait any longer.Upon her request a final invoice was generated evidencing nineteen hours of billable time had been expended on her behalf. At this time a goodwill credit of sixteen hours was applied to her account and the remainder of her deposit was refunded.For your reference, a copy of the agreement has been supplied. While we understand that not every client is going to be completely satisfied we do strive to allow for every possible consideration to be made in this regard. Through this entire process Ms. [redacted] has been very abrasive to staff members extremely difficult to deal with, we feel that we have made every possible effort to satisfy her. 
Best regards, 
 
J. M[redacted]
CC:File

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this...

does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
In response to the letter received from iCapital, I would have expected nothing different. They investigated themselves, so we know just how thorough of an investigation that was. It would have been better not to mention such silliness at all because all it says is “we lie all the time”.
About the amount of hours claimed is also a lie.
First of all, they would not give me a receipt. Now they are saying they only spent 2 hours which is considerably less than the previous claims of more than 6 and now are claiming no charges for overnight shipping? Where did overnight shipping come from? Nothing was ever overnight shipped anywhere. I couldn’t even get a return phone call or email for days at a time.
The bottom line is these people are practicing thieves and criminals. The website says, “we will have an answer for you in as little as a few hours” And when I sent in my information I talked with Mark on the phone, and he told me congratulations! I had adequate credit score and information to get the SBA loan and he just needed me to wire him $1500.00 for closing costs. So I figured it was a done deal so I sent him the money, and then I couldn’t reach anybody, and then when I did reach somebody I was told they are having a hard time “moving” it through underwriting. And when I continued to contact them because nothing was going as I was told it was going to go, then I was sent this email and this is the text from that email
 "As far as the status of your loan is concerned we are still not able to move the file to approval, this is primarily based on the lack of acceptable financial projections. Based on the inability to move your request any further and your disappointment with the overall level of service we have provided I have withdrawn your file and ordered the return of your remaining closing cost deposit.”
Closing? You only close a loan after its been approved or there is nothing to close. Even the language is shady and misleading and by there own words owe me a refund because it was a DEPOSIT for closing costs, for a “closing” that never took place. 
The information I sent in was basic, just a name address and phone number and a good credit score. Later they requested financial projections which I put together with a nation wide organization called the [redacted] group that iCapital said was not acceptable. The [redacted] group specialize and teach financial projections. Other then that, I had no assets, liabilities, titles or anything that would complicate the process so I can see why now the claimed number of HOURS worked on my behalf has been more than cut in half compared to what I was told on the phone.
 Its time for iCapital to do the right thing and send me my refund. That is my money, I worked for it and you did not. You lied to me to get me to send the money in the first place.
If you choose not to send me what is mine, then I am pleased that finally there will be a public record of your actions.. If I would have seen this record, I would have never dialed your number. So may this now save somebody else I pray…
Thank You
[redacted]
Regards,
[redacted]

Review: In June or July Mark at Icapital contacted me thru a Commercial Loan Officer from [redacted] Bank to see if they could help refinance my business. I was told they needed $1500.00 encase there were fees they had to cover , but I would receive most of that back at time of closing. They were not able to help me . However I have contacted them several times in the past few months on receiving any funds back with an explanation of fees charged, however I can't get them to return an honest phone call all they keep saying is it's in processing you should receive it next week. I have made 13 phone calls since 2-10-16. I received an email on 3/15/16 saying it was in processing I should receive it in a few days. I made another phone call on 3/22/16 and received a phone call back on 3/22/16 and again I was told it was in processing I would receive it by the end of the week. I have received neither an explanation of costs or a refund of any amount.Desired Settlement: Refund with a legitimate account of fees charged

Business

Response:

April 7, 2016Revdex.com[redacted]RE: Complaint [redacted]Dear Ms. [redacted]:We are in receipt of your letter dated April 5, 2016 whereas Ms. [redacted] has issued a complaint regarding a refund of deposit. The allegations within her complaint are specifically denied in total.On July 20, 2015 Ms. [redacted] entered into a consulting agreement (see enclosed) by and trough her business, [redacted]. The purpose of this engagement was to obtain commercial financing for her business. After several months and many hours of work had been placed into this request Ms. [redacted] withdrew her application stating that she had become frustrated and did not want to wait any longer.Upon her request a final invoice was generated evidencing nineteen hours of billable time had been expended on her behalf. At this time a goodwill credit of sixteen hours was applied to her account and the remainder of her deposit was refunded.For your reference, a copy of the agreement has been supplied. While we understand that not every client is going to be completely satisfied we do strive to allow for every possible consideration to be made in this regard. Through this entire process Ms. [redacted] has been very abrasive to staff members extremely difficult to deal with, we feel that we have made every possible effort to satisfy her. Best regards, J. M[redacted]CC:File

Review: I have applied for Loan through I Capital last year. My application was not approved. they were suppose to refund my application fee. I have been calling them leaving messages and emails, but no one is bothering to assist or even call back. I have paid $1500 in feesDesired Settlement: I would expect my refund of application fee

Business

Response:

August 15, 2016[redacted]Revdex.com400 Holiday Drive, Suite 220Pittsburgh, PA 15220RE: [redacted] ([redacted])Dear Ms. [redacted]:I am in receipt of your letter dated August 9,2016 whereas you have indicated that an individual named [redacted] has informed your office that he is owed approximately $1,500.00 from a previously paid “application fee".This statement is specifically denied, in fact, Mr. [redacted] engaged our company on May 4, 2015 to perform specific consulting services as it related to his potential investment into a local "[redacted]" franchise. Services were performed as per the scope of the agreement entered into between the parties. On November 13, 2015 Mr. [redacted] directed us to withdraw his file as he was going to explore other options.On November 16, 2015 a final invoice was prepared and sent to Mr. [redacted] for payment, to date this invoice remains unpaid despite our attempts to collect the amount due. At present, the matter has been referred to counsel so they may commence legal proceedings to collect the outstanding balance and attorney's fees.Best regards,John M[redacted]CCO

Review: I was told that I was approved for a start up business loan and that all I needed to do was wire $1500.00 to complete the application process. I dont have titles or anything that would cause any sort of time to process app, I had about as basic of an application possible. After sending the money, customer service went from good to very bad, to the point where I was told that icapital will be canceling my account because I was contacting them too much and charged me $900.00!Desired Settlement: Full refund, these people did nothing but tell me to stop calling the. Sure one time I called many times because they were ignoring my calls. They canceled my account and still expect to be paid? My application was sparse, it had almost nothing on it, I cant figure out where the claim for $900.00 comes from. I was also told on the phone by Mark? that they could get the financing done, everybody was nice until I sent in the money. Then it was like I was a bother to everybody.

Business

Response:

Business Requested Response to Not be Published.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.

Review: I tried using this company for a refinancing of a property that I own. They asked for and I gave them a deposit which would be used against closing costs. The refinancing never happened and they have NOT returned my money. I have emails from them stating numerous times that it was in process of returning my money. I also have an email saying it was returned and that they would cancel check and re-issue a new one. The bottom line is all of the emails (sadly) are fabrications. To date they will now not return my calls or emailsDesired Settlement: I would like my money back, due to the fact that no services were rendered

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Description: LOANS-SMALL BUSINESS

Address: 240 Executive Dr Box 1824, Cranberry Twp., Pennsylvania, United States, 16066

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