• Report: #827087

Complaint Review: Yellowstone Capital

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  • Submitted: Mon, January 23, 2012
  • Updated: Mon, March 31, 2014

  • Reported By: Snakeman — Church Hill Tennessee United States of America
Yellowstone Capital
Internet United States of America

Yellowstone Capital Mike Samuels, merchant cash advance, cash advance, business investment, Internet

*General Comment: I understand your situation

*REBUTTAL Owner of company: Managing Partner

*Consumer Comment: Yellow stone Capital - A sham!!

*Consumer Comment: So true

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Recently I had the unfortunate crossing of paths with Michael Samuels at Yellowstone Capital. I needed some extra money to expand my business but my local banks have all become so hard to deal with I went online to an angel investor site. Somehow I was contacted by a number of these companies who all do the same thing. They get in touch via email or phone and the line is always the same, "I don't see why we can't help you get some funding. We can get you something for sure but we'll have to see how much". Don't buy a word of this crap because here is where you'll be next.

You'll end up sending a dozen of these nut cases your credit information and they will each go and check it thus lowering your score to the bottom level. Throughout the process they'll lead you on and make you think you are really going to get some money. But in the end they will tell you that you just didn't qualify and it's always "underwriting's" fault. And, that's it! They don't contact you anymore, they don't respond to your contacts and you have nothing to show for giving up your credit score and the time you spent.

Mike Samuels at Yellowstone Capital is one of the worst by far. I haven't heard from this jerk since I sent him my documents and after repeated attempts to contact him I have not had one response. If you need capital for your business find a better way. I'm not saying I have a perfect way but Yellowstone Capital is the wrong road for sure and I can prove that.

This report was posted on Ripoff Report on 01/23/2012 11:07 AM and is a permanent record located here: http://www.ripoffreport.com/r/Yellowstone-Capital/internet/Yellowstone-Capital-Mike-Samuels-merchant-cash-advance-cash-advance-business-investment-827087. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 General Comment

I understand your situation

AUTHOR: Silva and Thomas Hair Studio - ()

I borrowed money through a broker in California for my hair salon in Atlanta who went through Yellowstone Captial to get the money financed and then decided to pay off the loan early.  I was given a pay off and told what ever money was owed back to me from over paying because of the ach debit where 5 days behind from the withdraw from the bank would be returned that was a month ago.  I have called Mike Samuels everyday trying to get my refund and either his secretary Lisa tells me he is unavailable or just left the office or in a meeting.  I am tired of the run around and I am tired of them holding my money and making interest of it for a whole month.  I know $1200,00 is much to some but to a small business its half a rent payment or all of your utilities for a month.  I feel this company has a lack of costumer service and also a lack of pride in their services.  They got their money back early and all I am asking for is my money back I over paid.  Don't think that is asking to much.    

The one thing I have learn from all of this is that fact that all of these funding companies are definately not the way to go to capitalize you business.  They are sharks and lie to you and take advantage of hard working business owners who are trying to make a good living during hard times.  I will never recomend Yellowstone Capital to any of my friends that own business in the City of Atlanta Ga that is for sure.  I hope one day soon I will see my money in my account again.  My next step is to contact the State of New York's Attorney Office and file a complaint against this company.  I would recommend you do the same.  If we all do it maybe they will go out of business or atleast get their act together.

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#2 REBUTTAL Owner of company

Managing Partner

AUTHOR: Isaac D. Stern - (United States of America)

Were sorry to hear that you had an unfortunate experience with Yellowstone Capital. Here at Yellowstone, thousands of merchants from around the country apply for funding on a daily basis, and while we are able to fund a large number of these businesses directly or through one of our funding partners, unfortunately not every business qualifies for funding. We train our people to deal professionally and courteously with every applicant, regardless of whether or not the applicant qualifies for funding. If you received less than the quality standard of service that we pride ourselves upon and demand from our sales reps, then we sincerely apologize for that.
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#3 Consumer Comment

Yellow stone Capital - A sham!!

AUTHOR: HStanson - (United States of America)

Yes I could not agree with all of you more. Yellowstone is the WRONG way to go.

The last week in February the same thing happened to me. I sent them everything they requested. And my bank told me that they were trying to debit my account to see if i had the funds available. WHY???? If I am applying for a business loan. They told me their underwriting dept would see what they cld do.

Most likely a bunch of scammers in a backroom, looking to see who they could scam next.

I ultimately got nothing from them, and they have all my information. Another thing I noticed just with youguys as well. They say they never receive the info you send them. This is to buy themselves time to see what they can try and scam out of you. If you do not have a large amount of money  in your account for them to scam you out of, they tell you their underwriting department needs more and more info while they look into your file.


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#4 Consumer Comment

So true

AUTHOR: dlhunter - (United States of America)

The same kind of scenario happend to me. In April  I applied for a small business loan. They had me send them every document under the sun. I dealt with a guy by the name of Brian. He kept saying he did not receive my info. I was getting worried. I was to get 15k. He told me his "underwriting" dept could only approve me for 2K. What the hek could I do with that. My business equipment cost more than that. He then strung me along for another week. Their online advertisement about 24 hr turn around is a bunch a u know what.

Then he said that they needed a voided check so that they could deposit the money. I sent it. WRONG MOVE!!!!! My bank told me I should not have given them ay of that info, because they are a sham!!!!

I never got anything, but they now have all my info. So I took all my money out of that account. And will ultimately close it. That is all they need to just go into my account and steal my money.

Don't fall for their scam, their website keeps changing, they are unprofessional and get very abrasive when you question their process. They try to get as much of your personal info and you can never get a hol of them. They patch you trough their voicemail, that asks you to id yourself. (called call screening) and you get nothing. But a hard time for a couple of thousand dollars that they say they will approve, when in fact they are just fising for your personal info, to scam you

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