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Report: #1259886

Complaint Review: Pennington Consulting Group - Rogers Arkansas

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  • Reported By: John. — Broadbeach Alabama Australia
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  • Pennington Consulting Group 1001 West Walnut Suite 4 Rogers, Arkansas USA

Pennington Consulting Group, Jason Pearson, Brian and Allen the Mormon Lying, Deceptive, Misleading, Misguiding and every other adjective you can think off without swearing! Rogers Arkansas

*Author of original report: This is so comical

*UPDATE Employee ..inside information: WE DO NOT DO VENTURE CAPITAL. WE ONLY OFFER DEBT FINANCING

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I was approached by friend, to help someone who needed funding for her business in Tennessee, and I asked a couple of contacts, one who was Peter Stone, here in Australia. He had said he knew of this company in the US that would be a possible start so he presented the deal to them.  On august 12,2015 we were told that the Pennington Consulting group would be keen to help if they can, and that Peter deals direct with the owner Jason.  By Friday 14th August, Peter had informed us that it looked good! We requested to have a chat with Jason to go through the Deal on Wednesday the 19th, but at the last minute Jason cancelled.  Apparently they were moving office?  We spoke to Allen the Mormon a couple of days later who told us it was a done deal! That they were going to fund the project, they had the funds available all is good to go.  The Letter of Offer will go out to our contact in Tennessee and it was very promising.  Peter informed us that he and Peter only get paid 1.2% Commission so we agreed to share ours with him for closing so quick.On the 25th August, we were told that they have committed to the funding and that the Letter of Offer was being prepared to be sent this week. All good to go!On the 27th we requested an update, so once again we were told by peter all is perfect, no problems. 

On the 1st September, as we still were yet to receive the Letter of Offer, Peter informs us he had a chat with jason, and that his father or Uncle or someone needed a heart/lung transplant, that he has been spending sometime with them but that come Friday the 4th, confirmation of whether they could close by the following week will be made. On the 8th September Peter Stone tells us that Jason and Allen had confirmed it was on, as if there was any doubt, the dela would be crashed by now. Once again we pass this info on.  On the 11th Guaranteed that the Letter would be delivered next Wednesday16th.  Yet again no offer letter.  We ask for another call with jason, but he denies to speak to us and rings our client direct, and tells her all is ok and looking good. We had a cll with Brian and this guy was full of S#*t.  He talks as if he is trying to confuse us, talking as if we were fools saying that he only just got the file and would have to start again?  Oh I forgot to say that jasons father, brother, pet dog whoever died, and he was a mess. Brian did not care for one second that we have been lied too, misled, misguided and constantly fed crap, that our poor client looks like she will need to foreclose because of these false people.  We were told by brian, they dont have funds available but would need to seek investors?  Allen the Mormon should know better than to lie.

In any case DO NOT EVER USE THEM AS YOU WILL SURELY BE LET DOWN!

This report was posted on Ripoff Report on 10/07/2015 08:04 PM and is a permanent record located here: https://www.ripoffreport.com/reports/pennington-consulting-group/rogers-arkansas/pennington-consulting-group-jason-pearson-brian-and-allen-the-mormon-lying-deceptive-1259886. 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

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

#2 Author of original report

This is so comical

AUTHOR: - ()

POSTED: Thursday, February 25, 2016

 You should write a script for a comedy show, as Your response months after the fact is such a joke! The internet is full of discrediting notices about you and your firm. If anyone was taking advantage of this nice lady it was you and your team of comedians passing yourself off as professionals who care. At no time did we ever indicate we wanted to live in the US, and after our pathetic conference call with you, we knew 2 things 1) you are a Joke and had more excuses than anyone else I've met and 2) you have no idea of dealing with integrity or honesty. We have moved and unfortunately so has the person seeking those funds. What's said is you are still around like a dag on a sheep and yes I'm sure you are right. Your customers do love you. They love to hate you.

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#1 UPDATE Employee ..inside information

WE DO NOT DO VENTURE CAPITAL. WE ONLY OFFER DEBT FINANCING

AUTHOR: Charles Muturi - (USA)

POSTED: Thursday, February 25, 2016

This report is definitely NOT accurate. We spoke to the Owner of the Oil well and she told us that she brings in approximately $15,000 per month from one of her oil wells. She explained to us that she wanted to finance through us because she did not want a loan from another group because they wanted a percentage of ownership of her business. This is venture capital that they were offering her we here at Pennington Consulting Group do not lend venture capital. We only deal with debt financing which simply means we only lend on existing revenue, asset, & credit. We explained this to the owner and she was fine with it. She had about almost a million dollars worth of equipment that she currently owns. Her credit was extremely low. But based on her previous oil experience, her existing assets, & her existing revenue we showed an interest in getting her funding to expand her oil business. she wanted $4,500,000.00. 

 

We did have a few weeks during this process where we were moving to a new office and her assigned loan officer went on a short vacation. This was all explained to her at that time but it did not slow the process of her loan. We stated it will take approximately 60-90 days to get complete funding for her oil business. This is a specialty financing industry. It is easier for a person to get private loans for their oil business than it is to get conventional financing. This is why most oil companies either already have the capital or they have found their own private investors. 

 

The broker Peter in Australia was told and knows we do not do venture capital. After he arranged a conference call with another two individuals in Australia who had great aspirations of moving to the United States because they had taken advantage off this nice lady who already owns the oil company. They claimed they could actually grow her business through levels beyond her wildest dreams. Then buy more oil companies in United States.

 

After being on the conference call for 15 minutes these guys said all they want is venture capital. we then said once again we do not lend venture capital and the owner of the company also had told us previously that she did not want venture capital. Which would cause her to have to give up a percentage of her oil business. These Australian guys got irritated because of that. They shopped around this deal to fund the oil company to multiple other lenders who all disapproved their loan application. So when we disapproved their loan application based on them just wanting venture capital they were irritated because it seemed their aspiration to come live in the United States has been dismantled. 

 

We are sorry but we get clients the funding they need on a weekly basis across the United States. This is why our clients love us and why all our referral partners love sending us clients. We are one of the most creative financing company around. 

 

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