Providence Capital Funding

Providence is replying to this complaint in accordance with our efforts to maintain superior customer service, however, this complaint was not made by the person with whom we have a contract in place In fact, in the attached emails dated today, [redacted] has reiterated that he never made a complaint, but his wife "may have", however Providence maintains it does not and has not had communications with her at any time, nor was she the person who executed our contract On May 19, [redacted] executed a Lease Proposal Contract with Providence and emailed that to us, along with a copy of a check for the deposit amount listed on the check, followed by an email to "Process Electronically" (Attached.) Providence processed the payment and began attempting to get the customer an approval Unfortunately, Providence was unable to get the full terms approved, and the customer was not happy with the apparent misinformation regarding taxes, and the inability to payoff the contract early (Emails attached regarding questions asked by customer and answered by Providence rep) Customer emailed rep to tell them they were going to get financing elsewhere As per the Lease Proposal Contract, the Providence rep instructed the customer to submit their cancellation in writing, and the cancellation request would be turned in the following Tuesday, due to the holiday weekend and our offices closing early Per the signed Lease Proposal Contract, it explains that all cancellations can take up to business days Customer misunderstood this in thinking a "refund" would be issued Tuesday A manager spoke with the lessee on Tuesday/Wednesday and explained that funds from the deposit may be withheld (As outlined and agreed to in the Lease Proposal Contract) Per the terms agreed upon within that document, Providence is allowed to withhold the documentation fee ($299) and refund the balance The customer's signature on this contract memorializes his acceptance of this condition However, after speaking with the customer and addressing his concerns over alleged misinformation and ambiguity, Providence will waive this condition

As a small business, we all must watch our bottom lineWith Providence capital, their all about not caring about our bottom lineWe struck a deal with them and we had a specific date we had to have the loan fundedAfter we met all their requests and emails they could not fund by our specified dateWe paid them the deposit and doc fee that was requested by them the same day the sent it to us, yet they could not meet our requirementsThey rewarded us by keeping our deposit and telling us “ that’s life” Beware of this company, they do not care about the small business owner at all