Ironwood Finance Inc

This Merchant obtained a business cash advance with our company on January 14th and it was paid off/closed by another lender on March 17th. We can only assume that the merchant was able to get additional financing by having already obtained credit from our company and maintaining
good payment history. We also have no control over what the credit agency’s choose to report and they may, or may not have reported this advance as it was taken out and closed in such a short period of timeWhile the credit reporting agency’s scoring/reporting methods are kept secret we have found that in many circumstances they will not report commercial accounts that were opened and then closed within days as they consider this too short a period to show credit history[Please note that the credit agency’s do not make this information public and this is just an assumption of what our company sees as a general pattern and business owners should consult with the credit agency’s for additional information.] We wish this merchant the best of luck in building their business credit and growing their business

We have permanently removed the contact information and placed this business on our do not contact list. We never call business' unsolicited and in rare occasions when a business has changed ownership the new owner may get a marketing call if the past owner has done business with us or requested...

information from us in the past. We apologize for any inconvenience this may have caused this merchant.

Again, Our company and partner companies do report to credit credit reporting agency on certain products we offer, however we have no control over over what information they chose to report and most agencies choose not to report trade lines that are opened and then closed within a short period of time (less than 90 days but may be different in each case), they view this as insufficient time to establish a true trade-line. Business and consumers should take note that to establish a good business and personal credit profile they need to open and maintain credit/trade-lines for longer periods of time (the longer the better), and opening and then quickly closing accounts especially sooner than 90 days may even hurt your credit if it were to be reported as an open/immediate-close account.

Complaint: [redacted].   Here is just one of the misrepresented communications through email there is more upon request , and here with their current response it is proving that they knew it's never gonna be reported and negligently misrepresented the information to me in order to gain interest.please check the Email communication with the loan agent [redacted] just before signing the contract I double checked with the loan agent that it is going to be reported , and the reason I have got another loan it's just simple because I didn't get what I have promised and there was no common sense to keep paying ridiculous interest while competition does report the tradeline to bureaus and offers lower rate.Also during interviews with ironwood finance loan agent I was told that all the calls are monitored for quality purposes , so if we can play those conversations you will discover more verbal promises and misrepresentations. I just want to keep informed to all small businesses hard working owners to be careful what they promise you .
I am rejecting this response because:
Regards,
[redacted]

Complaint: [redacted]
I am rejecting this response because:
Regards,
[redacted]