In June 2011, we received a letter of commitment from AG Commercial Capital LLC. They indicated in said letter that our small business was preapproved for a SBA loan by Borrego Springs Bank. After being congratulated by phone and email by Mr. Hornero (while in the presence of his representative who was in my office during the phone call) we were told that this preapproval was subject to the appraisal of the property and the environmental. AG Commercial Capital demanded a sum of $6,500 in order to submit the appraisal and the environmental to continue the process of the loan. Months passed without any proof that the loan was being processed at all. We called multiple times and spoke to Mr. Hornero and his employees. Nothing was ever done about our loan. We contacted the SBA division at Borrego Springs Bank and were told by them that they were not aware of any loan to The Tree House Educational Center by AG Commercial Capital. It was at this moment that we realized that AG Commercial Capital didnt have the capabilities to carry out our loan. After a confrontation with Mr. Hornero, we were advised by him to stop the proceedings of the loan. He explained that 100% of our money was to be returned to us. His Orlando representative, Mr. Marquez, was present when he told us this over the phone. After requesting the full amount to be returned to us, we received a check for $3,000.00. Mr. Hornero and AG Commercial Capital kept $3,500.00 for work that was never done. There was never any proof that any bank ever saw or rejected our application for an SBA loan.
These people are thieves! They took the money of a small business paid for by sweat and tears and did nothing for it. I would advise any individual or business to never do any dealings with AG Commercial Capital or anyone who is in any way affiliated with them. They have done nothing but kill the dreams of a small business owner. They are a shady company with loose morals and no respect for the hard earned money of the people who seek them out. This company, along with its managing director Mr. Hornero, have shown nothing but greed and self interest.