Ripoff Report Needs Your Help!
X  |  CLOSE
Report: #1238976

Complaint Review: Merchant Capital Source - Huntington Beach California

  • Submitted:
  • Updated:
  • Reported By: ITservices — Chicago Illinois USA
  • Author Confirmed What's this?
  • Why?
  • Merchant Capital Source 2120 Main St # 220 Huntington Beach, California USA

Notice: Ripoff Report VIP Arbitration Decision: A neutral and independent Arbitrator has determined that the following Report contained one or more false statements of facts. The false statements have been redacted as ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). | Merchant Capital Source merchantcapitalsource.com, merchantcapitalsource, Merchant Capital Source ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). Huntington Beach California

*REBUTTAL Owner of company: Response to "Promises Goldmines"

Show customers why they should trust your business over your competitors...

Is this
Report about YOU
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
How to fix
Ripoff Report
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

RIPOFF REPORT VIP ARBITRATION

SUMMARY OF ARBITRATOR’S DECISION

Merchant Capital Source, LLC, Complainant

v.

Anonymous, Author of Report #1238976,

________________________________________________________________________

Complainant Merchant Capital Source, LLC (the “Complainant”) has challenged the truthfulness of certain specific statements (each, a “Statement”) posted by Author Anonymous (the “Author”) on the Ripoff Report website at www.ripoffreport.com as Ripoff Report #1238976 (the “Report”). The Author accused the Complainant misleading information. The Complainant denies the allegations. The Author did not provide a response to this matter. Therefore, in accordance with the Ripoff Report VIP Arbitration Rules (the “Rules), the Author waived their right to participate in this Arbitration. By submitting a Report and a Complaint on the Ripoff Report websites, both the Complainant and the Author have agreed to submit the dispute to the Ripoff Report VIP Arbitration Program.

In accordance with the Rules, the Arbitrator was asked to decide whether the challenged Statements were an opinion or a fact. If, and only if, the Statement was determined to be a statement of fact, the Arbitrator was asked to further decided if, by a preponderance of the evidence, to determine if the Statement was true or false. If the statement identified by the Complainant is determined to be an opinion, no determination will be made as to that particular Statement because an opinion cannot be determined to be true nor false.

In this case, the Arbitrator had only the evidence submitted by the Complainant to consider. The evidence submitted included Ripoff Report #1238976, Complainant’s Arbitration Statement, Complainant’s Witness Statements, and supporting documentation.

Each Statement challenged by the Complainant has been considered, together with any Witness Statements and Documents provided by the Complainant for determination of the truth or falsity of the Statement. The Author did not provide a response to the Complaint.

The Arbitrator determined that the certain statements challenged in the Report were false. Therefore, according to the VIP Arbitration Rules, those statements have been redacted.

Decided June 15, 2016,

Sandra J. Franklin, Arbitrator

* A copy of the full Arbitrator’s Decision is available upon request. Please e-mail arbitration@ripoffreport.com with the name of the Complainant and Report number.

________________________________________________________________________

So I Googled merchant cash advance to see how it works. And I got to this first sponsored ad website - http://merchantcapitalsource.com/instant-funding-calculator((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). So based on the "super optimistic CUSTONER reviews" - I thought well.. it might be fake, but let me give a try.

((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration))

I agreed- he sent me a form, asking to fill it out send the statements and we are good to go. My business processes around $10,000 every month, no refunds, no chargebacks, steady 10k/mo +/- 1k. So while the development works are in progress, we thought of adding few more sets of the equipment to double or triple the income since the demand for our services are very high. The sales person I talked to seemed to be very helpful, asking to fill the app and in the morning to expect a call from underwritter.

Then, once he got all the detailed he asked for, he asked for a more detailed view of our business model and how we opreate and generate clients/profits/ Surpringly, after that,  there was no more underwritter call, but instead, I got an email saying they unfortunately cant work anymore. ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration))

So I emailed asked for the reason - no reply. Then I filed my experience in this https://www.trustpilot.com/review/merchantcapitalsource.com?r=15891550&correlationId=e4bd07ed-231e-4bd7-a5eb-45a675c93e23  since its all bubble gummy, and does not reflect the reality. Funny part is , that once I submitted it, they created the ticket with the TrustPilot to get it removed. 

 

At this point, I think whoever went through this should report this company all over. ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). Considering, that in our case, all the vendors are sold out for months ahead of time, and ROI is 3 months with pretty high prices.

 

Now, in addition I will need to get 3 credit bureau monitoring service to prevent the ID theft. 

 

((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)).

 

http://www.bbb.org/sdoc/business-reviews/financial-services/merchant-capital-source-llc-in-huntington-beach-ca-100068549/

 

Dear Merchant Please find the list of qualified products below List for Loan Product Loan No of Payments Payment Repay $5,000 147 $45.92 $6,750

On 2015-06-29 17:45, Christopher Chittick wrote: Thank you I will get this printed out. Can I call you in 20 minutes to go over how this works and tell you the different programs that you qualify for? Chris Chittick Funding Specialist Merchant Capital Source LLC (714) 500-5796 Fax: (949) 209-2636

Regarding your review on Trustpilot of merchantcapitalsource.com - Ticket #613599 - ticket 613599

Dear,

Thanks for taking the time to write a review on Trustpilot. We work hard to ensure that all reviews on Trustpilot are based on a buying or user experience and we hope that you will help us achieve our goal by verifying your review of merchantcapitalsource.com.

How to verify your review:

     1. Find your order confirmation, invoice or similar from your buying experience with merchantcapitalsource.com.
     2. Read the following guide to assure, that your documentation complies with our guidelines - https://support.trustpilot.com/hc/en-us/articles/201839083
     3. Save your documentation as a PDF or screen shot and attach it to a reply to this email.

When we receive your proof of purchase, we will insert the order ID into the system and return your review to Trustpilot, providing it complies with our user guidelines. Only the reviewed company will be able to see this number, and we won’t forward any additional information like e-mail addresses or full copies of your invoice or order confirmation. Should you not wish your order id to be visible for the reviewed company, please note this in your reply.

Unfortunately if we haven't heard from you within seven days, we will have to archive your review without further notice.

To see the review in question, click here and log in to your profile:
https://www.trustpilot.com/users/connect?redirect=/evaluate/merchantcapitalsource.com

Best regards,

Trustpilot support

 

 

((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)).. 

 

((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration))

 

This report was posted on Ripoff Report on 06/30/2015 02:17 PM and is a permanent record located here: https://www.ripoffreport.com/reports/merchant-capital-source/huntington-beach-california-92648/notice-ripoff-report-vip-arbitration-decision-a-neutral-and-independent-arbitrator-has-d-1238976. 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. READ: Foreign websites steal our content

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Updates & Rebuttals

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

#1 REBUTTAL Owner of company

Response to "Promises Goldmines"

AUTHOR: Greg - (USA)

POSTED: Wednesday, July 08, 2015

Merchant Capital Source has a 10 year operating history in the market for short term finance. We receive requests for financing from many different sources and we have a well defined underwriting process for determining eligibility for financing. 

The complaint expresses concern for their private information.  We have a privacy policy published on our website and we protect all information submitted as part of this policy.  The information submitted as part of the underwiting process never includes a "business plan." 

The complaint stated that he was offerred a 35 month deal.  All of our financing is short term in nature, and the maximum term that we offer, as published on our website, is 12 months.  

Unfortunately not all applicants are approved for financing.  As with all providers of financing, a final commitment to provide financing is determined after the completion of underwriting.  

We understand that sometimes applicants are upset that they don't qualify for financing from Merchant Capital Source.  We are happy to assist this person if they will call our company directly.

 

Respond to this report!
What's this?
Featured Reports

Advertisers above have met our
strict standards for business conduct.

X
What do hackers,
questionable attorneys and
fake court orders have in common?
...Dishonest Reputation Management Investigates Reputation Repair
Free speech rights compromised

WATCH News
Segment Now