ED Magedson – Founder
Grand Pacific Commercial Lending5042 Wilshire Blvd Los Angeles, California USA
Grand Pacific Commercial Lending Charged $675 to get lines of credit funding in business name saying first business plan then funding. Los Angeles California
Joseph KIrkpatrick from Grand Pacific Commercial originally contacted me saying their company could help me with real estate financing. I asked if it were possible to get financing in the name of my company in a line of credit. They said yes. He had one of his loan agents, David R, contact me and we got started on the loan process. When David R found out I was a veteran he stated he could get me a small business line of credit in the company name for $100,000 but would first have to do a business plan. The charge for the business plan was $675 but that would ensure I would get the line of credit in my company name. I paid for this by check over phone. They started working on the business plan which took forever. David R and I talked on the phone several times. I should have known with the way they were dragging this out it would not end up good for me. One of the things they were suppose to do was to incorparate my business and get my business name. David R kept saying this was done and he sent me some sort of link to the Tennessee business offices showing my company name to make it look like it was completed but when I checked on it my business had not be formed. I got tired of waiting on it and I went on line and formed my business entity myself getting my own business name. What i later found out was that David R had went into my account and took out the $308 from my account without telling me anything and placed it on a check number I knew nothing about. I have the emails to back this up. I was very angry when I confronted him concerning this. He took full responsibility but it took about 2 months for them to finally send me my money back and constantly staying on them. David R had me send him my tax information for the last two years and bank statements saying they place these out to brokers to get my lines of credit for my company. They finally just stop emailing or calling and would not answer my emails. I sent emails to all the officers of the company also trying to get an answer to my complaint but no one would answer back. Support@gpc.com is another email address they use to make it look like they are helping get everything set up. This was nothing but a rip off to get my money. They lured me in with the false pretense of getting money for my business and charged to do this by doing a business plan, which by the way, they did in the wrong company name and I had to have them re-do it again. They took the money for the business plan and after that I only heard from them a few times and that was it. This company is nothing but a rip off. I filed a complaint through Consumer Complaint agency which cost me $25. The Consumer complaint agency contacted them and they would not reply so it went down against them which I am sure they don't care. I have multiple emails if needed and was on the phone with them alot in the beginning. This started around April 18th of this year and the last contact I had with them was around the end of June or 1st part of July.
This report was posted on Ripoff Report on 10/08/2013 07:39 AM and is a permanent record located here: http://www.ripoffreport.com/r/Grand-Pacific-Commercial-Lending/Los-Angeles-California-90036/Grand-Pacific-Commercial-Lending-Charged-675-to-get-lines-of-credit-funding-in-business-1090309. 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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