ED Magedson – Founder
American Business Advocates9155 W. Flamingo Rd Las Vegas, Nevada USA
American Business Advocates Business Funding, Small Business Loans, Business Credit Las Vegas Nevada
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, firstname.lastname@example.org 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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