• Report: #1123230

Complaint Review: American Business Advocates

  • Submitted: Wed, February 12, 2014
  • Updated: Thu, February 13, 2014

  • Reported By: Mike F. — Castle Rock Colorado
American Business Advocates
9155 W. Flamingo Rd Las Vegas, Nevada USA

American Business Advocates Business Funding, Small Business Loans, Business Credit Las Vegas Nevada

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On 9/8/13 we responded to a craigslist ad “Your business can obtain up to $650,000 in Business credit (usa)”.  The link no longer works, but I have it if needed.  On 9/9/13, I was contacted by James (Jim) Sarno, General Manager/Business Analyst.  Toll Free 1-800-819-3517 ext.: 102, Cell: (702) 575-4951, Fax: (702) 509-9846, www.abafunding.com, jim@abafunding.com from American Business Advocates, Inc., 500 N. Rainbow Suite 300, Las Vegas, NV 89107.  He was very friendly.  I explained we were looking for $300K for our business but more would be great.  He explained he could get us a several unsecured business loans and lines of credit.  They worked with all sorts of vendors.  They didn’t charge any percentage and just had a one-time fee.  They would work to establish our business credit and take care of all the paperwork.  Once they secured a loan or line of credit for us, they would overnight the paperwork to us with the terms and we could decide whether to take the loan/line.  If we wanted the loan/line, we simply signed the paperwork and the money would be wired to us in a few days.  He explained working with them, we would have an A+ business credit rating.  If they could not get us qualified for at least $100K they would give us our money back.  We searched online and found out they are a Better Business Member with no complaints.  We could not find any other complaints or reviews on them.  On 9/14/13, we signed their agreement and deposited $2500 into their bank account.  (I still have it).  Jim sent us a business questionnaire that was similar to a business plan.  I completed this and sent it back to them on 9/15/13.  I called Jim a couple of times and he told me it would take about 4 weeks to get things rolling.  I called back 4 weeks later and he told me they should have something for me within a week.  I never heard back from him.  I called several times.  Left messages for him on his cell, work and with the operator.  The week before Christmas, I called and James finally answered.  He explained he had some family stuff and had been very busy.  He explained I was approved for a loan of $164K and that he would have a tracking number for me the next day.  Again no response, no paperwork, no tracking number he refused to answer or return my calls.  On 1/6/14, I called Jim’s cell again.  He answered apparently thinking I was someone else.  When I asked him what was going on he told me he didn’t know and that I needed to talk to the owner Dennis Hitler at extension 103 and hung up.  I have left several messages for Dennis and his assistant and there is no response.  James refuses to take my calls.  It appears there is a new address 9155 W. Flamingo Rd, Las Vegas, NV 89147. 

This report was posted on Ripoff Report on 02/12/2014 09:27 PM and is a permanent record located here: http://www.ripoffreport.com/r/American-Business-Advocates/Las-Vegas-Nevada-89147/American-Business-Advocates-Business-Funding-Small-Business-Loans-Business-Credit-Las-1123230. 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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