Thank you for your feedbackSwift Capital received the marketing information from D&BWe have subsequently changed the contact name to your correct name (on 12/29/15), and marked our files to suppress from future marketingPlease keep Swift Capital in mind in your require access to fast
working capital for your business
The customer's service related concerns have been addressed. Based on correspondence within our account system of record, the customer's issue was resolved and he seemed pleased with the outcome. We take the matter of customer service seriously and continually review and revise
procedures based on feedback. We appreciate Mr*** bringing this matter to our attention and look forward to our continued relationship
Swift strives to provide products and services beneficial to small businesses in a helpful and transparent manner. Our records do indicate that we mailed materials to Ms***'s business describing Swift's business advance product. We have, however, taken the appropriate steps to
remove Ms***'s business from all future marketing efforts.
*** ***
Compliance Officer, Swift Capital
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. The business states that a social security number had to be given to check my creditI assure you it was notThe sales Rep, *** ***, stated that "we don't need the social security number to check your credit". He furthermore explained that there was "fine print" that stated that was revealed on the online contractIf the businesses recent response is true, and a SSN # is needed, then all I can assume is that their response is a conspiracy to cover up deceitful marketing tacticsI am reasonable asking for a timely removal of a credit check that should not have occurredFor your reference, details of the offer I reviewed appear below
Ms*** contacted Swift in June, seeking business funding Ms*** was approved for a Business Advance which is the purchase of her business's future receivables and is not a loan The terms for this purchase, including payments, were outlined in the Future
Receivables Sales Agreement (FRSA) which Ms*** digitally signed on June 28, In October, 2016, Ms*** contacted Swift to advise of declining business revenues and requested a lower payment When asked for her business's banking statements to confirm the declining revenues, Swift was informed that the bank account had been closed Reduced payment arrangements were negotiated and Ms*** agreed to continue with the reduced payment amount Ms*** continued to experience difficulty in meeting the obligation and in January, 2017, a settlement amount was offered and accepted Ms*** later advised Swift that she would not be able to satisfy the settlement arrangement as expected Sporadic payments were received and when the latest agreed upon payment was missed, Swift referred the account to an agency for collection It is important to note that Swift does not report its accounts to the consumer reporting agencies As such, Ms***'s credit has not been tarnished by Swift We regret that Ms*** has experienced financial hardship Swift has made numerous attempts to work with Ms*** and has followed company policy and procedures in doing so
Thank you for forwarding your concerns regarding the Swift Capital solicitations sent to Mendota Area Senior Services. Our records indicate we received Bruce Plasch's name associated with the business from one of our trusted business credit sources. Because you have advised us that
this individual is not affiliated with Mendota Area Senior Services, we have removed that contact information from our future solicitation lists and provided feedback to our list source as well. Swift Capital takes the matter of information security and data quality seriously and we are continually working to ensure both are maintained to the highest standards. Should additional information be required, please contact me directly
Ms*** entered into an agreement with Swift for the purchase of her business's future receivables which is not a loan Ms*** agreed to the terms of the business advance by digitally signing the Future Receivables Sales Agreement (FRSA) which detailed all aspects of her account including
her payment arrangements, the events of default, and Swift's security interest process When Swift experienced difficulty collecting the agreed upon payments, actions were taken through our UCC-filing to hold a portion of Kinder Prep's receivables These steps were taken in accordance with the FRSA after a number of payments were missed and Ms*** did not maintain contact Once contact resumed, Swift offered options to satisfy payments A tentative agreement to revise payment arrangements was made Those arrangements, including the weekly payment amount, were dependent on information verification through Kinder Prep's bank statements Once that information was received, the weekly payment amount did increase based on the business deposit amounts reflected as the customer notes in her complaint Ms*** has also challenged the UCC-process as well as Swift's expectations regarding payments received to release that hold.After reviewing the complaint details, account details, calls, etc., it's certain that Swift could have been more clear about the process to properly set customer expectations This has been addressed through supplemental training I'd also like to confirm that the lien placed by Swift through the UCC-filing was released on 4/20/ We'd like to thank Ms*** for her feedback Should additional information be required, I may be reached using the contact information below.*** *** - Compliance Officer/Swift Financial ***
Swift Capital provides working capital solutions to small businesses throughout the United States We do acquire local presence numbers for marketing purposes which is an widely used practice Swift prides itself on providing detailed and transparent marketing and fulfillment content to
all of our customers We regret that Mr*** believes he was mislead in any way As requested, Mr***'s contact information has been added to the appropriate Do Not Solicit lists Should additional information be needed, I may be contacted directly
Sincerely,
*** *** *** *** * *** *** ***
Mr*** contacted Swift Capital to inquire about business funding options After a number of conversations, Mr*** opted to proceed with an advance on the purchase of future receivables from his business which is not a loan The customer was provided with and electronically
signed the Future Receivables Sales Agreement (FRSA) which provides the details of the transaction Payment amounts and frequency are clearly defined Based on account documentation, Mr*** had expectations of receiving funds in a particular time frame That time frame was in jeopardy because the customer asked that we revise the bank account information designated for the funds as well as for payment to Swift Once that documentation was received and verified, we proceeded with the transaction
Once receiving the details of this complaint, Swift offered to honor the cancellation clause in the FRSA even though the allotted time had passed Mr*** declined, indicating he had already made use of the funds provided Swift strives to provide our customers with detailed and transparent information throughout the funding process We regret that Mr*** feels he lacked the proper detail to make an informed decision Should additional information be needed, I may be contacted directly
Sincerely,
L*** *** *** *** * *** *** ***
We are sorry we could not qualify Mr *** for business fundingWe pre-qualify businesses using targeting methods related to revenue, industry, location, etcHowever, we also have minimum criteria, some related to revenue and some related to credit that is not part of the pre-qualification, and is
the reason we need to collect the social security number of the owner and Tax ID of the businessWe have very high approval rates and liberal criteria to be metIn this case, Mr*** did not meet a minimum requirement related to the number of monthly deposits to a business checking account being less than four per monthAs a result, we stopped the process at that point and did not access Mr***'s personal or business credit to further determine eligibility, as we did not want to impact his credit due to not meeting our minimum criteria. We are a small business and are in the business of helping other small businessesIf the information above has changed or is inaccurate, we certainly would like to consider Mr***I would be happy to discuss directly and even be able to help find alternative financing if we are unable to assistI can be reached directly at ***Regards,*** ***Head of OperationsSwift Capital
Mr*** responded to a solicitation for business funding from Swift Capital indicating his business was pre-qualified. Swift does pre-qualify certain businesses based on the type of business as well as projected revenue that may be associated with those types of businesses. Approval
is subject to gathering and verifying additional information about the business and business owner. Unfortunately, Mr***'s business did not meet the minimum criteria necessary to receive the requested funding. I regret that Mr*** was displeased with his experience but would like to assure him that Swift takes the matter of information security very seriously. Our Privacy Policy as well as the Terms and Conditions available on our website outline our care and use of the information provided through the application process. Mr***'s information will not be shared but will be retained in a secure manner in accordance with company policy. We appreciate the feedback provided. If additional information is needed, I can be contacted directly
A request to delete the credit bureau inquiry was submitted on 5/3/2016. Additionally, Swift Capital has removed Mr***'s business from all solicitation lists. Please allow reasonable processing time to effect all changes
I regret any inconvenience Mr*** and his business may have experienced. I have, however, confirmed that the business information has been placed on the proper "do not solicit" lists at Swift. Additionally, I have reminded our associates of the proper procedure for honoring
such requests. Should additional assistance be needed, I may be contacted directly.Regards,*** ***
*** *** *** ***
***
Swift Capital has been working to review the items brought to our attention through this complaint. A member of Swift's senior management team will work directly with the customer to address each item and resolve. In the mean time, should additional information be needed, I may be...
contacted directly.
[redacted]
Compliance Officer / Swift Capital
[redacted]
I regret that prior requests to remove R K Consulting from Swift's marketing lists were not honored. I have, however, confirmed that this request has been completed. Swift will also ensure that all associates are familiar with and following company procedures for such requests. ...
Should additional information be needed, I may be contacted directly.[redacted]Compliance Officer / Swift Capital[redacted]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]
Revdex.com:
I have reviewed the response made by the...
business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
The staff and management at Swift Financial were extremely helpful and polite. They immediately resolved my issue and my account was funded within a few days. I am very happy with their service and all terms of the contract have been upheld. Due to the quick resolution of the matter and willingness to help my company, I would definitely continue to do business with Swift Financial in the future.Regards,
Swift Capital entered into an arrangement with Petersburg Auto Parts and its owner, [redacted], for the purchase of future business receivables which is not a loan. The Future Receivables Sales Agreement signed by Mr. Vance provides a description of the actions Swift would take in the event...
that payments were not received. Specifically, Section 8 (Our Rights Upon Default) (e) states: " We may exercise any and all rights or remedies available to a secured creditor under Article 9 of the Uniform Commercial Code or analogous state laws." Swift exercises these rights in a manner consistent with the Uniform Commercial Code. Swift makes every effort to work with businesses experiencing times of decreased revenue. Customers maintaining open communication and providing evidence of revenue status often find that a workable solution is achieved. Swift has attempted to work with this business to reach an agreeable arrangement but have not been successful in doing so.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
Mr. [redacted] contacted Swift Capital on May 4, 2017, to inquire about a Swift Business Advance as a source for working capital for his business. After speaking with a Business Funding expert and exploring various options, Mr. [redacted] decided not to proceed with funding. He has expressed...
concerns about repeated credit bureau inquires and the impact those inquiries may have. Please assure Mr. [redacted] that Swift has not placed any hard inquiries on his personal credit report. Answering questions to assess a customer's eligibility for offers does not impact the personal credit score. Should Mr. [redacted] have chosen to move forward with funding, a hard inquiry would have been placed to finalize the underwriting process. After carefully reviewing Swift's documentation, I can confirm that no hard credit bureau inquiry was made. We regret that Mr. [redacted] had an unpleasant experience with Swift but thank him for taking the time to provide feedback. Should questions remain, I can be reached using the contact information below. [redacted]Compliance Officer / Swift Capital[redacted]
Thank you for your feedbackSwift Capital received the marketing information from D&BWe have subsequently changed the contact name to your correct name (on 12/29/15), and marked our files to suppress from future marketingPlease keep Swift Capital in mind in your require access to fast
working capital for your business
The customer's service related concerns have been addressed. Based on correspondence within our account system of record, the customer's issue was resolved and he seemed pleased with the outcome. We take the matter of customer service seriously and continually review and revise
procedures based on feedback. We appreciate Mr*** bringing this matter to our attention and look forward to our continued relationship
Swift strives to provide products and services beneficial to small businesses in a helpful and transparent manner. Our records do indicate that we mailed materials to Ms***'s business describing Swift's business advance product. We have, however, taken the appropriate steps to
remove Ms***'s business from all future marketing efforts.
*** ***
Compliance Officer, Swift Capital
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. The business states that a social security number had to be given to check my creditI assure you it was notThe sales Rep, *** ***, stated that "we don't need the social security number to check your credit". He furthermore explained that there was "fine print" that stated that was revealed on the online contractIf the businesses recent response is true, and a SSN # is needed, then all I can assume is that their response is a conspiracy to cover up deceitful marketing tacticsI am reasonable asking for a timely removal of a credit check that should not have occurredFor your reference, details of the offer I reviewed appear below
Ms*** contacted Swift in June, seeking business funding Ms*** was approved for a Business Advance which is the purchase of her business's future receivables and is not a loan The terms for this purchase, including payments, were outlined in the Future
Receivables Sales Agreement (FRSA) which Ms*** digitally signed on June 28, In October, 2016, Ms*** contacted Swift to advise of declining business revenues and requested a lower payment When asked for her business's banking statements to confirm the declining revenues, Swift was informed that the bank account had been closed Reduced payment arrangements were negotiated and Ms*** agreed to continue with the reduced payment amount Ms*** continued to experience difficulty in meeting the obligation and in January, 2017, a settlement amount was offered and accepted Ms*** later advised Swift that she would not be able to satisfy the settlement arrangement as expected Sporadic payments were received and when the latest agreed upon payment was missed, Swift referred the account to an agency for collection It is important to note that Swift does not report its accounts to the consumer reporting agencies As such, Ms***'s credit has not been tarnished by Swift We regret that Ms*** has experienced financial hardship Swift has made numerous attempts to work with Ms*** and has followed company policy and procedures in doing so
Thank you for forwarding your concerns regarding the Swift Capital solicitations sent to Mendota Area Senior Services. Our records indicate we received Bruce Plasch's name associated with the business from one of our trusted business credit sources. Because you have advised us that
this individual is not affiliated with Mendota Area Senior Services, we have removed that contact information from our future solicitation lists and provided feedback to our list source as well. Swift Capital takes the matter of information security and data quality seriously and we are continually working to ensure both are maintained to the highest standards. Should additional information be required, please contact me directly
Ms*** entered into an agreement with Swift for the purchase of her business's future receivables which is not a loan Ms*** agreed to the terms of the business advance by digitally signing the Future Receivables Sales Agreement (FRSA) which detailed all aspects of her account including
her payment arrangements, the events of default, and Swift's security interest process When Swift experienced difficulty collecting the agreed upon payments, actions were taken through our UCC-filing to hold a portion of Kinder Prep's receivables These steps were taken in accordance with the FRSA after a number of payments were missed and Ms*** did not maintain contact Once contact resumed, Swift offered options to satisfy payments A tentative agreement to revise payment arrangements was made Those arrangements, including the weekly payment amount, were dependent on information verification through Kinder Prep's bank statements Once that information was received, the weekly payment amount did increase based on the business deposit amounts reflected as the customer notes in her complaint Ms*** has also challenged the UCC-process as well as Swift's expectations regarding payments received to release that hold.After reviewing the complaint details, account details, calls, etc., it's certain that Swift could have been more clear about the process to properly set customer expectations This has been addressed through supplemental training I'd also like to confirm that the lien placed by Swift through the UCC-filing was released on 4/20/ We'd like to thank Ms*** for her feedback Should additional information be required, I may be reached using the contact information below.*** *** - Compliance Officer/Swift Financial ***
Swift Capital provides working capital solutions to small businesses throughout the United States We do acquire local presence numbers for marketing purposes which is an widely used practice Swift prides itself on providing detailed and transparent marketing and fulfillment content to
all of our customers We regret that Mr*** believes he was mislead in any way As requested, Mr***'s contact information has been added to the appropriate Do Not Solicit lists Should additional information be needed, I may be contacted directly
Sincerely,
*** *** *** *** * *** *** ***
Mr*** contacted Swift Capital to inquire about business funding options After a number of conversations, Mr*** opted to proceed with an advance on the purchase of future receivables from his business which is not a loan The customer was provided with and electronically
signed the Future Receivables Sales Agreement (FRSA) which provides the details of the transaction Payment amounts and frequency are clearly defined Based on account documentation, Mr*** had expectations of receiving funds in a particular time frame That time frame was in jeopardy because the customer asked that we revise the bank account information designated for the funds as well as for payment to Swift Once that documentation was received and verified, we proceeded with the transaction
Once receiving the details of this complaint, Swift offered to honor the cancellation clause in the FRSA even though the allotted time had passed Mr*** declined, indicating he had already made use of the funds provided Swift strives to provide our customers with detailed and transparent information throughout the funding process We regret that Mr*** feels he lacked the proper detail to make an informed decision Should additional information be needed, I may be contacted directly
Sincerely,
L*** *** *** *** * *** *** ***
We are sorry we could not qualify Mr *** for business fundingWe pre-qualify businesses using targeting methods related to revenue, industry, location, etcHowever, we also have minimum criteria, some related to revenue and some related to credit that is not part of the pre-qualification, and is
the reason we need to collect the social security number of the owner and Tax ID of the businessWe have very high approval rates and liberal criteria to be metIn this case, Mr*** did not meet a minimum requirement related to the number of monthly deposits to a business checking account being less than four per monthAs a result, we stopped the process at that point and did not access Mr***'s personal or business credit to further determine eligibility, as we did not want to impact his credit due to not meeting our minimum criteria. We are a small business and are in the business of helping other small businessesIf the information above has changed or is inaccurate, we certainly would like to consider Mr***I would be happy to discuss directly and even be able to help find alternative financing if we are unable to assistI can be reached directly at ***Regards,*** ***Head of OperationsSwift Capital
Mr*** responded to a solicitation for business funding from Swift Capital indicating his business was pre-qualified. Swift does pre-qualify certain businesses based on the type of business as well as projected revenue that may be associated with those types of businesses. Approval
is subject to gathering and verifying additional information about the business and business owner. Unfortunately, Mr***'s business did not meet the minimum criteria necessary to receive the requested funding. I regret that Mr*** was displeased with his experience but would like to assure him that Swift takes the matter of information security very seriously. Our Privacy Policy as well as the Terms and Conditions available on our website outline our care and use of the information provided through the application process. Mr***'s information will not be shared but will be retained in a secure manner in accordance with company policy. We appreciate the feedback provided. If additional information is needed, I can be contacted directly
A request to delete the credit bureau inquiry was submitted on 5/3/2016. Additionally, Swift Capital has removed Mr***'s business from all solicitation lists. Please allow reasonable processing time to effect all changes
I regret any inconvenience Mr*** and his business may have experienced. I have, however, confirmed that the business information has been placed on the proper "do not solicit" lists at Swift. Additionally, I have reminded our associates of the proper procedure for honoring
such requests. Should additional assistance be needed, I may be contacted directly.Regards,*** ***
*** *** *** ***
***
Swift Capital has been working to review the items brought to our attention through this complaint. A member of Swift's senior management team will work directly with the customer to address each item and resolve. In the mean time, should additional information be needed, I may be...
contacted directly.
[redacted]
Compliance Officer / Swift Capital
[redacted]
I regret that prior requests to remove R K Consulting from Swift's marketing lists were not honored. I have, however, confirmed that this request has been completed. Swift will also ensure that all associates are familiar with and following company procedures for such requests. ...
Should additional information be needed, I may be contacted directly.[redacted]Compliance Officer / Swift Capital[redacted]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]
Revdex.com:
I have reviewed the response made by the...
business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
The staff and management at Swift Financial were extremely helpful and polite. They immediately resolved my issue and my account was funded within a few days. I am very happy with their service and all terms of the contract have been upheld. Due to the quick resolution of the matter and willingness to help my company, I would definitely continue to do business with Swift Financial in the future.Regards,
Swift Capital entered into an arrangement with Petersburg Auto Parts and its owner, [redacted], for the purchase of future business receivables which is not a loan. The Future Receivables Sales Agreement signed by Mr. Vance provides a description of the actions Swift would take in the event...
that payments were not received. Specifically, Section 8 (Our Rights Upon Default) (e) states: " We may exercise any and all rights or remedies available to a secured creditor under Article 9 of the Uniform Commercial Code or analogous state laws." Swift exercises these rights in a manner consistent with the Uniform Commercial Code. Swift makes every effort to work with businesses experiencing times of decreased revenue. Customers maintaining open communication and providing evidence of revenue status often find that a workable solution is achieved. Swift has attempted to work with this business to reach an agreeable arrangement but have not been successful in doing so.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
Mr. [redacted] contacted Swift Capital on May 4, 2017, to inquire about a Swift Business Advance as a source for working capital for his business. After speaking with a Business Funding expert and exploring various options, Mr. [redacted] decided not to proceed with funding. He has expressed...
concerns about repeated credit bureau inquires and the impact those inquiries may have. Please assure Mr. [redacted] that Swift has not placed any hard inquiries on his personal credit report. Answering questions to assess a customer's eligibility for offers does not impact the personal credit score. Should Mr. [redacted] have chosen to move forward with funding, a hard inquiry would have been placed to finalize the underwriting process. After carefully reviewing Swift's documentation, I can confirm that no hard credit bureau inquiry was made. We regret that Mr. [redacted] had an unpleasant experience with Swift but thank him for taking the time to provide feedback. Should questions remain, I can be reached using the contact information below. [redacted]Compliance Officer / Swift Capital[redacted]