• Report: #827087

Complaint Review: Yellowstone Capital | Ripoff Report Verified™ …businesses you can trust. Yellowstone Capital dedicated to 100% customer satisfaction. The safe Cash Advance alternative when you need money the most. Yellowstone Capital cash advance expert team, years of industry experience, dedicated to accommodating all needs of business owners. Yellowstone Capital the alternative business financing provider offering unlimited business funds.

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  • Submitted: Mon, January 23, 2012
  • Updated: Thu, April 17, 2014

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

Yellowstone Capital REVIEW: Yellowstone Capital llc executive team & employees are committed to customer satisfaction. Yellowstone Capital LLC’s approach to business focused on working with merchants best interests in mind. Competitors require clients switch processing, Yellowstone Capital works with clients to get funding without switching processors.
*UPDATE: Yellowstone Capital pledges their commitment to always improving their operations by joining Ripoff Report’s Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer by increasing their confidence when doing business with a member business. Yellowstone Capital isrecognized by Ripoff Report Verified as a safe business service.

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Ripoff Report Verified™ REVIEW:

EDitor’s UPDATE: Positive rating and recognition has been given to Yellowstone Capital LLC for its commitment to excellence in customer service.

Ripoff Report’s discussions with Yellowstone Capital LLC have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Yellowstone Capital LLC listens carefully to merchant concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Yellowstone Capital LLC’s principal, Mr. Isaac Stern, has informed us that his personal philosophy is that his clients are a precious resource. [continued below]....
..... As a successful businessman, Mr. Stern feels it is critical to listen to his clients and respond properly. By always putting his customers first, Mr. Stern hopes to maintain Yellowstone Capital LLC as a successful enterprise both now and for many years to come.

Another top executive of the company told us that Mr. Stern's personal business philosophy is based on the premise that "We have helped business owners nationwide qualify for funding. Let us help you today!”. Yellowstone Capital LLC's mission statement says it all: "We fund the un-fundable.” One of the other things Ripoff Report learned in the course of its review is that typical customer feedback reads: “Yellowstone Capital LLC (and Mr. Stern) truly work with merchants, and Credit history is not important. If you can provide three months of Bank Statements you are pre-approved for a Merchant Cash Advance.”

The information provided in this report below is based on comments made by Joshua Karp, COO of Yellowstone Capital, LLC, during an on-site inspection held by a third party verification company with no biases toward Yellowstone Capital, LLC.

Yellowstone Capital is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..

Yellowstone Capital, LLC is a merchant cash advance company that specializes in providing money to businesses. “The actual process is called factoring. We buy future receivables in exchange for a percentage of their future profits,” explains Joshua Karp, COO. Yellowstone Capital acquires leads in two ways: first, they have in-house marketing, which is done via the internet. This process involves a potential customer coming across Yellowstone Capital on the web when they are in need of cash advance services. “If someone is interested, they can apply directly to us using our website. They are now considered a lead and someone will contact them directly from our office,” states Mr. Karp.



Their second method of acquiring leads is ISOs, or Independent Sales Organizations, which are third parties that are pre-cleared by management and are under contract. These ISOs do their own marketing, and once they have a prospective client, the ISO will pass that client on to Yellowstone Capital to determine if the prospect could become a qualified lead. Yellowstone Capital’s clients are typically businesses that need working capital for their operations. “Sometimes the cash advance is needed for a quick turnaround or because they just don’t have the qualifications that a traditional lender would require,” states Mr. Karp. “We don’t cold call; we have a list of merchants that applied for a cash advance, through us or an ISO that submits the business owner’s information.”

Yellowstone Capital LLC / Customer Support

At times, customers are not satisfied with one aspect or another of the service. A particular instance of this is a merchant complaining about the deal offered to them by Yellowstone Capital. “We have a standard contract that includes our bank fees and ACH fees, which clearly outlines all of the terms of the agreement,” states Mr. Karp. Yellowstone Capital strives to give their funders enough leeway to work with the merchants and help them if there is an issue regarding their repayment. The team at Yellowstone also tried to be understanding of each business’s economic situation and work with them to find the best plan for repayment. “As long as a merchant communicates with us, we’re happy to reduce the payment as necessary, or defer the payment a week or so to accommodate the merchant’s needs,” states Mr. Karp. Additionally, the ISOs that work with Yellowstone Capital sometimes have complaints, as well, mostly involving receiving commission for a referral. However, if the prospective customer does not turn into an actual lead and a sale does not actually happen, Mr. Karp states that the ISOs still sometimes want to receive their referral fee.

When the team at Yellowstone works to resolve a customer’s complaint, Mr. Karp states, “When we reach out to them, they’re happy and understand that we can work with them. Most of our legal disputes result in the client being reinstated unless the client went out of business legitimately or if there was a case of fraud.” After a complaint is resolved, the team at Yellowstone Capital follows up with the merchant via e-mail and telephone. “When the communication is finished, we know that the case is closed. At that time, the merchant is usually satisfied,” states Mr. Karp. To avoid any disputes or misunderstandings, Yellowstone Capital outlines their regulations and requirements in the standard contract they use for each case, which is a standard Merchant Cash Advance Contract. “Everything is explicitly outlined – the associated fees along with the factoring terms; there are no hidden disclaimers,” states Mr. Karp.



Since receiving complaints via Ripoff Report, Yellowstone Capital has proactively engaged in policy changes based on customer feedback and internal customer review. Specifically, they have created a compliance group and two separate teams which review customer activity and maintenance to ensure all company policies and contract terms are being adhered to, and to ensure mutual satisfaction. Yellowstone Capital recognizes the value of working with Ripoff Report and the Corporate Advocacy Business Remediation and Customer Satisfaction Program, and the platform it provides for businesses and customer to interact and resolve issues. “It gives us peace of mind to know that Ripoff Report is our third party advocate, not only for our customers, but for Yellowstone Capital, as well,” states Mr. Karp.

Yellowstone Capital LLC / Statements from the owner.

"YellowStone Capital is composed of an expert team, with years of industry experience. We are committed to accommodating all your needs as a business owner. We are an alternative business financing provider that offers unlimited business funds. As an Originator, we presently have multiple in house funders concentrated on specific advance types. However, in our quest to help all businesses we have partnered with 16 independent business cash advance companies. With this relationship, YellowStone is able to accomplish deals that our competitors cannot. Because of our successful relationships with our syndicate partners we are able to get deals done that have been turned down by our competitors.

YellowStone Capital has realized that as our company and industry has grown the need for innovation and creativity has increased. While most most of our competitors will require clients to switch processing, we realize that sometimes it is not in the best interest of the client to do so. We can get you funding without you switching processors.

Yellowstone Capital is composed of an expert team, with years of industry experience. Yellowstone Capital LLC is committed to accommodating all your needs as a business owner. Yellowstone Capital LLC is an alternative business financing provider that offers unlimited business funds. One of Yellowstone Capital LLC’s in-house funders Aaron Davis stated “Yellowstone is truly an innovator in the industry, especially due to the amount of in-house funders, as I am able to offer a wider array of financing options to get that big deal done faster. Isaac and the team here are not afraid to handle the big deals while most other cash advance firms will not surpass $250,000.”



Yellowstone Capital LLC takes merchant satisfaction seriously as well. Merchant feedback reveal comments such as this: "The team at Yellowstone Capital exceeded my expectations. Aaron would call me every couple weeks to reassure me that we were on our way to financing my extension project. I never expected to be able to secure $700,000 in business financing. " Ripoff Report was pleased to learn that Yellowstone Capital LLC’s past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.

STATED IMPROVEMENTS FROM YELLOWSTONE CAPITAL LLC.

Yellowstone Capital LLC recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report’s Investigation Yellowstone Capital LLC has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our investigation, which included discussions with Mr. Stern and many of his past and current associates, Ripoff Report is convinced that Yellowstone Capital LLC is committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.

NOW TO THE ORIGINAL REPORT THAT WAS FILED

------------------------------

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

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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 3Consumer 1Employee/Owner
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.

THEY ARE A SCAM!!!! STAY away.

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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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