We received a direct mailer via regular mail and applied on-line including checking the box that our company was in transportation We received a phone call from a representative the next business day who explained the process We were sent documents for our review and signature which turned out to be inaccurate as the math was not correct New documents were produced and then we were informed that we did not actually qualify for the dollar amount originally stated The documents were redone again and after two weeks of back and forth, we signed the forth set of documents and was informed that we would receive funds in a day or two Just received a phone call this morning that they would not be able to fund us as they currently do not deal with transportation companys It was brought to their attention that that information was given the very first day and the even the company name has transport in the name, we were told that they just did not catch it and that they were sorry
Providing a social security number is required to submit an applicationSome numbers must have been entered to proceedWe use both name and address in addition to social security number to inquire about applicant credit historyIn the terms and conditions - that all applicants are required to accept prior to submitting an application, we conspicuously disclose that the applicant is providing authorization to review their credit historyAn excerpt of the terms and conditions are belowWe apologize for any inconvenience Rights Granted to Swift CapitalYou authorize Swift Capital to contact any credit reporting or database service, your current, prior or third party card processors, and your current and prior banks so that Swift Capital may obtain whatever information Swift Capital determines is necessary to review your application or to monitor and maintain your account with Swift CapitalSuch information may include, without limitation, your personal or your business' credit history, credit card, debit card and other payment card and instrument processing history (including, without limitation, your business charge-back history), as well as any other information Swift Capital deems pertinent.You authorize your credit card, debit card and/or payment card processor or its designated POS processor to forward on a daily basis to any third party designated by Swift Capital all electronic payment transaction records that your acquiring institution or your designated POS processor captures on your behalf (including, but not limited to, activity on Visa, MasterCard, American Express, Discover, Diners Club, JCB, or ATM Debit Cards and check truncation records).Additionally, as part of our approval process in providing our Service, we may use a neutral, third party to access your business financial informationYou will be involved in this process if we opt to use this processFor clarity, we have attached Schedule A to explain Terms and Conditions specific to this processCredit Profile AuthorizationYou understand and agree that we and our agents and assignees are authorized to contact third parties to make credit report inquiries (including requesting business and personal credit bureau reports from credit reporting agencies and other sources) or for any other lawful purpose.You also understand and agree that Swift Capital is making no commitment or guarantee that any product, evaluation, or guidance provided by Swift Capital will result in an approval for a working capital solution from Swift Capital or any third party.You authorize Swift Capital to obtain a credit report or background reportAny such report(s) that Swift Capital obtains may include, without limitation, the business's or your credit history or similar characteristics, employment and education verifications, social security verification, criminal and civil history, Department of Motor Vehicle records, any other public records, and any other information bearing on credit standing, credit capacity, or characterSuch reports will be used by Swift Capital to determine eligibility for a working capital solutionYou will also provide and/or execute such further and additional documents, instruments, and writings as Swift Capital may require in order to access and review any tax information (including tax returns) related to Merchant's business (including, without limitation, by executing a 4506T form with the Internal Revenue Service)
Swift values each customer relationship and strives to be transparent in all communication with both existing and potential customers As indicated in Mr***’s complaint, he contacted Swift in response to a renewal offer During our assessment of the business bank account statements provided by Mr***, it was determined that his business did not meet the minimum eligibility criteria for renewal Mr [redacted] was advised to seek renewal again if his situation improved The customer contacted Swift again approximately days later again seeking additional funds Upon initial review, Mr [redacted] was advised that his request had been pre-qualified Pre-qualification is subject to underwriting review and approval Unfortunately, Mr***’s request for additional funding was declined in accordance with guidelines Mr [redacted] has highlighted an opportunity to improve both process and communication at Swift Steps have been taken to enhance quality monitoring to ensure this type of experience is not repeated Should additional information be needed, I may be contacted directlySincerely, [redacted]
Swift Capital strives to create long lasting relationships withcustomersWe take every complaint seriously and research the details andevents that transpired, both to make sure we are following procedures, and toevaluate performanceIn this situation, the business owner was in default formultiple reasons, including taking additional financing from other providers, missinga total of payments, making promises to pay that were not honored, and theowner was unwilling to cooperate with requests for additional information.Swift Capital legal counsel sent a redacted bank account statement foridentification purposes for collection purposes, as the vendor did notrecognize the business nameEvery business is unique and the Swift Capitalrisk mitigation team works with many customers in need of assistance to come upwith workable solutionsOn occasion, we unfortunately need to pursuecollecting funds by enforcing our rights under our agreementsOnce wereceive confirmation that final ACH payment has cleared, we will return anyexcess collections (if any), provide a payoff notification, and remove the UCClienThe expected date to finalize these activities is September 18,
I have received capital from other companies in the past; however; I have to say that this transaction with Swift was quite professional What I particularly liked, was the fact that I had someone whom I could directly deal with, that knew my situation, could answer my questions, etc It surely beats calling, and not having anyone recognize you or know who you areIn addition to the communication, the transaction was "Swift", i.erapid, smooth and easily doneOnce they received my documentation, they moved forward quite rapidly, and I felt a sense that I was in good hands I must say they are a fine company to do business with, and I will definitely utilize them in the future, when necessary From a content Hair Salon/Day Spa Proprietor
Never give them your account number or access to you account , this company is so bad they keep taking money from your account even you pay them They promise you funding and you try to give information , they will never understand your business They will not give you a loan till you give them " the sign on to your account" , if you are desperate for a loan you give it to them , then your regret I paid off my loan and they still taking money from my account , next step I will file criminal charges against them with the district attorney in California
I could write a review that would take up pages, but it would all be filled with every word in the Dictionary that has the meaning of great, excellent, or best!!! This was the easiest, smoothest truly day Simple Business Funding that I have ever experiencedJessica Winter and Dan Katz where so easy to work with and didn't come across like they were making empty promises or just trying to sell meI have spoke to what seems like more than different companies that supposedly provide the same service, and ABSOLUTELY none of them are a tenth as great to do business with as SWIFT CAPITALWithin hours of contacting them they had us funded at a business building rate, not a SCAM rate that is detrimental to our businessTo sum up my review of SWIFT CAPITAL I will leave you with this, if you spend your TIME talking to any other business funding company, then you are wasting your most valuable resource, TIME
I would like to clarify the comments sent previouslyHopefully this makes sense and ties together the messages from Swift Capital - a social security number is required to submit an applicationEven if an ACTUAL social security number was not provided, some numbers must have been entered to be able to submit an applicationThis application could not have been submitted if the fields were left blank, as that is a required fieldTherefore, some numbers must have been entered - Swift Capital not only uses the social security number to pull credit, but it also uses a name and address, which many times is sufficient to check a credit history, as in this case - As previously disclosed, we mention in multiple areas in our terms and conditions that the applicant grants Swift Capital authorization to check credit history It is the opinion of Swift Capital that we appropriately set up a process to require certain fields completed prior to submitting an application, and properly disclosed what each applicant agrees to in our terms and conditions
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.Business is not reaching out to try and resolve issue - They have refused to remove the fees charged to my account due to their "internal communications issue" and have now simply begun harassing me by calling an incorrect number every hour
Swift Capital provides businesses with working capital solutions The product for which Ms [redacted] applied was a Business Cash Advance which is not a loan I'll attempt to address each of Ms***'s issues Our records do reflect a lengthy chain of events as Ms*** indicates A number of funding options were discussed between 7/and 8/ Ms [redacted] was taking the necessary time to determine which funding amounts and terms best suited her business needs Documentation was requested and provided As Ms [redacted] states, Swift requested certain documentation that was not relevant to her business It is also clear that call attempts were made without consideration to the time zone differences Both of these have been addressed with the proper managers and representatives have been advised on proper procedures Regarding the site inspection - As a matter of risk mitigation, Swift often requires site inspections which are not regularly announced Records indicate the first inspection ordered could not be completed and a second was requested Associates with whom Ms [redacted] spoke did not have access to that informationSwift truly prides itself on providing products designed to assist small businesses We strive to be transparent in all communication The information outlined in this complaint is not reflective of the experience we want our customers to have nor does it reflect the processes Swift associates should follow Each item outlined has been specifically addressed We have also taken steps to enhance quality monitoring to ensure this type of experience is not repeated I want to apologize to Ms [redacted] for her experience but also want to thank her for bringing this to our attention If I can be of assistance, I may be reached directly Thank you, [redacted]
I understand the business owner wishes to modify their payments as outlined in the contract To accommodate the request we have requested checking account statements to verify business revenue, as outlined in the agreementWe are willing to review the situation if we get the requested information We have made several attempts to contact the business owner to resolve the complaint Please advise the business owner to contact [redacted] to resolve their issue
Adam Z [redacted] and Kevin R [redacted] both were very helpful very knowledgeablethey made this experience painlessThey explained everything to usI would recommend both these men and the company
I had a great rep that kept me informed of the processes all the wayOnce I got through the minimal paperwork, the money was deposited right awayI look forward to using them again as my business grows
Very Complicated and drawn out processThey ask for a ton of things without telling you exactly what needs to be done keep you running around in circlesMoreover, they dont even tell you what the loan is structured like or even the fee's until your well into the processThey press for all kinds of information and get your hope's up only to then come up a reason why not
Our business has received several letters from them stating that they would like to do business with our company but they are addressing the letter to someone that isn't involved in our company and we don't even know who that person is never heard of himWhen I call to talk to someone about it on the *** line, I get a recording they say that someone will call you back and they never doMy fear is that this person will some how get ahold of this and we will be responsible for the loanI finally got ahold of a very pleasant young man that changed the name on their records but wasn't able to tell me exactly where they get the information from
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. For your reference, details of the offer I reviewed appear below
The business is completely stating falsely about their contractI did everything the contract stated and then when it came time to deal with their staff, they would not honor their contractThese people are scamming people with their contract since they will not honor their own termsThey not only threatened me with an attorney but then charged their legal fees to my account! I was only doing everything their contract statedIt said to report if receivables decreased, I did so per their contract and then *** *** was rude, unprofessional and threatened me with attorneys and certified letters! I did nothing to not honor my contract and they will NOT honor their own contract! They should not be able to conduct business this way
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. For your reference, details of the offer I reviewed appear below
Here's the issue is very plain words: Swift Capital conducted a hard credit inquiry on a potential customer that DID NOT need to be conducted, thereby negatively affecting the potential customer's credit ratingAll they had to do is ask a few qualifying questions and no credit inquiry would have been necessary at allSwift Capital's business practice of conducting the hard inquiry BEFORE asking qualifying questions is NOT in the customer's best interest.
My request: Swift Capital to contact the credit bureaus and ask for the hard inquiry to be retracted as a mistakeIf they do this, I'm happyThis causes them no problems and solves mineSeems like a fair way to conclude this matter
Regards,
We received a direct mailer via regular mail and applied on-line including checking the box that our company was in transportation We received a phone call from a representative the next business day who explained the process We were sent documents for our review and signature which turned out to be inaccurate as the math was not correct New documents were produced and then we were informed that we did not actually qualify for the dollar amount originally stated The documents were redone again and after two weeks of back and forth, we signed the forth set of documents and was informed that we would receive funds in a day or two Just received a phone call this morning that they would not be able to fund us as they currently do not deal with transportation companys It was brought to their attention that that information was given the very first day and the even the company name has transport in the name, we were told that they just did not catch it and that they were sorry
Providing a social security number is required to submit an applicationSome numbers must have been entered to proceedWe use both name and address in addition to social security number to inquire about applicant credit historyIn the terms and conditions - that all applicants are required to accept prior to submitting an application, we conspicuously disclose that the applicant is providing authorization to review their credit historyAn excerpt of the terms and conditions are belowWe apologize for any inconvenience Rights Granted to Swift CapitalYou authorize Swift Capital to contact any credit reporting or database service, your current, prior or third party card processors, and your current and prior banks so that Swift Capital may obtain whatever information Swift Capital determines is necessary to review your application or to monitor and maintain your account with Swift CapitalSuch information may include, without limitation, your personal or your business' credit history, credit card, debit card and other payment card and instrument processing history (including, without limitation, your business charge-back history), as well as any other information Swift Capital deems pertinent.You authorize your credit card, debit card and/or payment card processor or its designated POS processor to forward on a daily basis to any third party designated by Swift Capital all electronic payment transaction records that your acquiring institution or your designated POS processor captures on your behalf (including, but not limited to, activity on Visa, MasterCard, American Express, Discover, Diners Club, JCB, or ATM Debit Cards and check truncation records).Additionally, as part of our approval process in providing our Service, we may use a neutral, third party to access your business financial informationYou will be involved in this process if we opt to use this processFor clarity, we have attached Schedule A to explain Terms and Conditions specific to this processCredit Profile AuthorizationYou understand and agree that we and our agents and assignees are authorized to contact third parties to make credit report inquiries (including requesting business and personal credit bureau reports from credit reporting agencies and other sources) or for any other lawful purpose.You also understand and agree that Swift Capital is making no commitment or guarantee that any product, evaluation, or guidance provided by Swift Capital will result in an approval for a working capital solution from Swift Capital or any third party.You authorize Swift Capital to obtain a credit report or background reportAny such report(s) that Swift Capital obtains may include, without limitation, the business's or your credit history or similar characteristics, employment and education verifications, social security verification, criminal and civil history, Department of Motor Vehicle records, any other public records, and any other information bearing on credit standing, credit capacity, or characterSuch reports will be used by Swift Capital to determine eligibility for a working capital solutionYou will also provide and/or execute such further and additional documents, instruments, and writings as Swift Capital may require in order to access and review any tax information (including tax returns) related to Merchant's business (including, without limitation, by executing a 4506T form with the Internal Revenue Service)
Swift values each customer relationship and strives to be transparent in all communication with both existing and potential customers As indicated in Mr***’s complaint, he contacted Swift in response to a renewal offer During our assessment of the business bank account statements provided by Mr***, it was determined that his business did not meet the minimum eligibility criteria for renewal Mr [redacted] was advised to seek renewal again if his situation improved The customer contacted Swift again approximately days later again seeking additional funds Upon initial review, Mr [redacted] was advised that his request had been pre-qualified Pre-qualification is subject to underwriting review and approval Unfortunately, Mr***’s request for additional funding was declined in accordance with guidelines Mr [redacted] has highlighted an opportunity to improve both process and communication at Swift Steps have been taken to enhance quality monitoring to ensure this type of experience is not repeated Should additional information be needed, I may be contacted directlySincerely, [redacted]
Swift Capital strives to create long lasting relationships withcustomersWe take every complaint seriously and research the details andevents that transpired, both to make sure we are following procedures, and toevaluate performanceIn this situation, the business owner was in default formultiple reasons, including taking additional financing from other providers, missinga total of payments, making promises to pay that were not honored, and theowner was unwilling to cooperate with requests for additional information.Swift Capital legal counsel sent a redacted bank account statement foridentification purposes for collection purposes, as the vendor did notrecognize the business nameEvery business is unique and the Swift Capitalrisk mitigation team works with many customers in need of assistance to come upwith workable solutionsOn occasion, we unfortunately need to pursuecollecting funds by enforcing our rights under our agreementsOnce wereceive confirmation that final ACH payment has cleared, we will return anyexcess collections (if any), provide a payoff notification, and remove the UCClienThe expected date to finalize these activities is September 18,
I have received capital from other companies in the past; however; I have to say that this transaction with Swift was quite professional What I particularly liked, was the fact that I had someone whom I could directly deal with, that knew my situation, could answer my questions, etc It surely beats calling, and not having anyone recognize you or know who you areIn addition to the communication, the transaction was "Swift", i.erapid, smooth and easily doneOnce they received my documentation, they moved forward quite rapidly, and I felt a sense that I was in good hands I must say they are a fine company to do business with, and I will definitely utilize them in the future, when necessary From a content Hair Salon/Day Spa Proprietor
Never give them your account number or access to you account , this company is so bad they keep taking money from your account even you pay them They promise you funding and you try to give information , they will never understand your business They will not give you a loan till you give them " the sign on to your account" , if you are desperate for a loan you give it to them , then your regret I paid off my loan and they still taking money from my account , next step I will file criminal charges against them with the district attorney in California
I could write a review that would take up pages, but it would all be filled with every word in the Dictionary that has the meaning of great, excellent, or best!!! This was the easiest, smoothest truly day Simple Business Funding that I have ever experiencedJessica Winter and Dan Katz where so easy to work with and didn't come across like they were making empty promises or just trying to sell meI have spoke to what seems like more than different companies that supposedly provide the same service, and ABSOLUTELY none of them are a tenth as great to do business with as SWIFT CAPITALWithin hours of contacting them they had us funded at a business building rate, not a SCAM rate that is detrimental to our businessTo sum up my review of SWIFT CAPITAL I will leave you with this, if you spend your TIME talking to any other business funding company, then you are wasting your most valuable resource, TIME
I would like to clarify the comments sent previouslyHopefully this makes sense and ties together the messages from Swift Capital - a social security number is required to submit an applicationEven if an ACTUAL social security number was not provided, some numbers must have been entered to be able to submit an applicationThis application could not have been submitted if the fields were left blank, as that is a required fieldTherefore, some numbers must have been entered - Swift Capital not only uses the social security number to pull credit, but it also uses a name and address, which many times is sufficient to check a credit history, as in this case - As previously disclosed, we mention in multiple areas in our terms and conditions that the applicant grants Swift Capital authorization to check credit history It is the opinion of Swift Capital that we appropriately set up a process to require certain fields completed prior to submitting an application, and properly disclosed what each applicant agrees to in our terms and conditions
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.Business is not reaching out to try and resolve issue - They have refused to remove the fees charged to my account due to their "internal communications issue" and have now simply begun harassing me by calling an incorrect number every hour
Swift Capital provides businesses with working capital solutions The product for which Ms [redacted] applied was a Business Cash Advance which is not a loan I'll attempt to address each of Ms***'s issues Our records do reflect a lengthy chain of events as Ms*** indicates A number of funding options were discussed between 7/and 8/ Ms [redacted] was taking the necessary time to determine which funding amounts and terms best suited her business needs Documentation was requested and provided As Ms [redacted] states, Swift requested certain documentation that was not relevant to her business It is also clear that call attempts were made without consideration to the time zone differences Both of these have been addressed with the proper managers and representatives have been advised on proper procedures Regarding the site inspection - As a matter of risk mitigation, Swift often requires site inspections which are not regularly announced Records indicate the first inspection ordered could not be completed and a second was requested Associates with whom Ms [redacted] spoke did not have access to that informationSwift truly prides itself on providing products designed to assist small businesses We strive to be transparent in all communication The information outlined in this complaint is not reflective of the experience we want our customers to have nor does it reflect the processes Swift associates should follow Each item outlined has been specifically addressed We have also taken steps to enhance quality monitoring to ensure this type of experience is not repeated I want to apologize to Ms [redacted] for her experience but also want to thank her for bringing this to our attention If I can be of assistance, I may be reached directly Thank you, [redacted]
I understand the business owner wishes to modify their payments as outlined in the contract To accommodate the request we have requested checking account statements to verify business revenue, as outlined in the agreementWe are willing to review the situation if we get the requested information We have made several attempts to contact the business owner to resolve the complaint Please advise the business owner to contact [redacted] to resolve their issue
Zachary and all the people at Swift were amazing and professional and stayed on top of it until was done in a most expedient mannerThank you so much
From start to finish the process was fast and easy I will highly recommend Swift Capital
Adam Z [redacted] and Kevin R [redacted] both were very helpful very knowledgeablethey made this experience painlessThey explained everything to usI would recommend both these men and the company
The customer has confirmed the issue has been resolved in the attached correspondenceWe apologize for any inconvenience
I had a great rep that kept me informed of the processes all the wayOnce I got through the minimal paperwork, the money was deposited right awayI look forward to using them again as my business grows
Very Complicated and drawn out processThey ask for a ton of things without telling you exactly what needs to be done keep you running around in circlesMoreover, they dont even tell you what the loan is structured like or even the fee's until your well into the processThey press for all kinds of information and get your hope's up only to then come up a reason why not
Our business has received several letters from them stating that they would like to do business with our company but they are addressing the letter to someone that isn't involved in our company and we don't even know who that person is never heard of himWhen I call to talk to someone about it on the *** line, I get a recording they say that someone will call you back and they never doMy fear is that this person will some how get ahold of this and we will be responsible for the loanI finally got ahold of a very pleasant young man that changed the name on their records but wasn't able to tell me exactly where they get the information from
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. For your reference, details of the offer I reviewed appear below
The business is completely stating falsely about their contractI did everything the contract stated and then when it came time to deal with their staff, they would not honor their contractThese people are scamming people with their contract since they will not honor their own termsThey not only threatened me with an attorney but then charged their legal fees to my account! I was only doing everything their contract statedIt said to report if receivables decreased, I did so per their contract and then *** *** was rude, unprofessional and threatened me with attorneys and certified letters! I did nothing to not honor my contract and they will NOT honor their own contract! They should not be able to conduct business this way
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. For your reference, details of the offer I reviewed appear below
Here's the issue is very plain words: Swift Capital conducted a hard credit inquiry on a potential customer that DID NOT need to be conducted, thereby negatively affecting the potential customer's credit ratingAll they had to do is ask a few qualifying questions and no credit inquiry would have been necessary at allSwift Capital's business practice of conducting the hard inquiry BEFORE asking qualifying questions is NOT in the customer's best interest.
My request: Swift Capital to contact the credit bureaus and ask for the hard inquiry to be retracted as a mistakeIf they do this, I'm happyThis causes them no problems and solves mineSeems like a fair way to conclude this matter
Regards,