Direct funding now Scam alert ** please don't use the company Irvine California

 **scam alert** please do not use this company, they're a fraud!! Let's start from the beginning- I got called by a guy by the name Victor Smith from this company. He told me how the program worked (short term loans) and I told him we were not interested in that (my business partner and I) that we wanted to get a long term loan to expand the store and buy me out, based off of the stores assets. He said they could do it but some of it is based off credit, so we had him run his credit and Victor said my business partner score was too low and what they would like to do is, set us up on a short term loan with a high pay back based off of our deposits. I told him there "no reason" for us todo that cause we didn't need a small loan but need a larger loan to buy me out and expand (around 100k) and if we can't do that, don't worry about it. Victor tells us we can't get that one at the time but what we can do is, get a smaller one (15k) with a payback of 3 months and it's just to establish a relationship with the bank and once they see good payment history, they will lend us the larger amount. And he goes on to say, we don't even have to wait the full 3 months, if the history is good after two months we can just get it refinanced at that point. I told him I would get back with him n a few days after we did our due diligence. We did-looked up the company, looked at reviews, looked on bbb and nothing came back/alarmed us, so we went with it. So after two months go by, I call to Victor and said "hey we've made good all payments on time and we would like to refinance and get the bigger loan at this time". He said "perfect I'll have underwriting call u", after a few days go by and nothing from underwriting, I decide to call him back And he says "what.... they haven't called u, let me get on this right now".

A few more days go by again and that's when I knew...... we got duped... it went from him calling us every day to get the smaller loan, and not calling back about the bigger one. See the problem?? If I was on commission I would definitely call back and make sure this big long it's taken care of... unless I know for a fact it won't. So, just to make sure we got duped/taken advantage of, I called one last time a a week later, and he says "man I can't believe under writing hasn't called u back by now" so then I test him and say "no big deal, I understand people get busy, how about u give me the number to underwriting and I call" he says "no this is my deal, and let me take care of it". I tell my Business partner about it and he gets very upset and says let me call him, and when he does, Victor acted like someone else...... oh his on cell phone. Wow!! That took the cake.

So I call the company to make a complaint or just to see if I could get somewhere else with someone (I already knew I couldn't but had to try) and speak to a lady by the name of Janice Cobb and tried to explain to her the situation, and she tells me exactly what we thought, that it is based off credit and they could do another short-term loan but not the long-term loan that Victor told us that we would get once were done with the short-term. I go on to tell her, that's not what Victor told us because the only reason why we did the short term was just to get the long term loan in the future, so just waste of time. And lastly, we called a supervisor at. Yellowstone Financial (place that did the short term loan) to ask them if the did/or agreed to do a long term loan after we got done with this short term super high interest loan, and that said "no we don't do long term loans and we will call and speak to his supervisor to see what's going on" and we never hear from them as well.

At the end of the day, we got a loan for 15k with a payback of $21k and had to pay closing cost of $1300, so we basically loss $7700 on a 15k loan over a 3 month period. Talk about a "shark loan" at its finest. And, they take out $243 a day until the loan is paid back. Hope this helps, because I would not want anyone else to go through what I went through with this company. It tremendously hurt us and put us further back than when we got this loan. I just don't see how it's OK for a company to lie to someone, just so they could get a paycheck and almost cost two other families their livelihoods... great job Victor smith and Direct funding now