ED Magedson – Founder
Ability Capital Solutions (formerly Matrix Capital)401 E. Ocean Blvd, Suite 440, Long Beach, California USA
Ability Capital Solutions (formerly Matrix Capital) & Brian Acosta This company runs a scam, bait and switch operation Long Beach California
This company purports to run an honest equipment leasing business, but nothing could be further from the truth. This is a scam. A bait and switch run to perfection.
Here is how their little scam works. A high pressure salesman will call on a business who is looking to borrow money to buy some equipment. They especially like to prey on inexperienced professionals and business owners who are desperate to borrow money.
Here is the bait: They will lead you to believe that you can get financed with a lease from them. They promise you a very attractive (low) interest rate lease.
Here is the first part of the scam: In order to “process your paperwork”, they require you to pay a very large up front deposit, part of which they tell you is refundable and part of which is not refundable, a scam in itself. Since many of their victims are desperate for the loan, they willingly send in the deposit (it has to be sent by wire transfer) hoping for a positive response.
Here comes the switch: They will tell you that “after reviewing your financials” they are unable to make the loan or lease as they led you to believe. Instead, they offer you a proposal at a MUCH higher interest rate and monthly payment.
Here is the next part of their scam: If you do not take the switch and accept the high interest rate loan, good luck on getting any of your money back. They will make up all kinds of excuses as to how you breached their agreement and are not entitled to get your money back.
Do not do business with this company!!!!!
This report was posted on Ripoff Report on 05/05/2013 06:13 PM and is a permanent record located here: http://www.ripoffreport.com/reports/ability-capital-solutions-formerly-matrix-capital/long-beach-california-90802/rability-capital-solutions-formerly-matrix-capitallong-beach-california-90802ability-capital-solu-1048638. 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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