US BUSINESS FUNDING PETER RIBEIRO SCAM ARTIST PETER RIBEIRO US BUSINESS FUNDING - SERIOUS BAIT AND SWITCH TACTICS PETER RIBEIRO of US BUSINESS FUNDING BAIT AND SWITCH TACTICS Newport Beach California

READ ENTIRELY - YOU WILL LEARN HOW THIS SCAM WORKS

SCAM ARTIST PETER RIBEIRO US BUSINESS FUNDING - BAIT AND SWITCH TACTICS

THIS SCAM IS ELABORATE so YOU MUST READ CAREFULLY TO UNDERSTAND HOW THIS WORKS.....

I was looking for LEASE financing and had entered my information into a number of different websites to receive multiple quotes as I was shopping around like any normal person would shop around for the best rate and term.

I was approved at all of the companys that I had applied as my business is steady and my credit is good.

Just before I was moving forward with my best approval offer from one of the companys,

I received a call from Peter Ribeiro of US Business Funding.

I explained to Peter that I was already approved and moving forward with another lease company.

Peter asked me what were the specifics of my approved lease.

I told Peter the lease rate and term that I already had been approved and then he asked me if he can attempt to BEAT that current deal and compete for my business.

I told him YES, of course, why not, if you can find a better arrangement, then you will earn my business.

Peter came back with a 24month EFA lease, $53,000 financed over 24months at a payment of $2395.00 per month.

That rate and term that Peter offered was better than the rate and term that I had already been approved from the other finance company.

I told Peter to send me the offer that he is making to me, which he did send it and I still have that email and agreement.

Immediately to get the process started, Peter wanted a first and last payment plus an application fee accompanied by a signed LEASE EFA (Equipment Financing Agreement)

This totaled to $5185.00.

1st Payment $2395.00

2nd Payment $2395.00

Application Fee US Business Funding $395.00.

I signed the Lease EFA Agreement and sent in the check for $5185.00.

At this moment, PETER RIBEIRO has MADE HIS MONEY.  He does not care to get you approved for financing after this moment in time.  You sent him a check and after he cashes that check, you are going to lose that money (in most cases)

WHY will you lose this money?  Let me explain.....

Small Business Owners are typically DESPERATE for FINANCING.

Because of this DESPERATION they will jump at approvals because many times they have been turned down by banks and other lending type companys.

Peter Ribeiro KNOWS that Small Business Owners are being constantly turned down for financing and he PREYS on this FACT.

What this causes the Small Business Owner to do is look for LEASE type financing and other types of financing that is easier to get approved than bank type financing instruments.

Also, there are certain guidelines that these LEASE COMPANYS have in order to be approved.

One of the guidelines is that you usually need to be in business for 24 months or more.  If your company was incorporated 18months ago and you put 24 months on your lease application, PETER is going to tell you that you LIED to him and he is going to KEEP your entire DOWN PAYMENT.  He TRYS to FIND ANY EXCUSE to show that you broke YOUR CONTRACT with him so that he CAN KEEP YOUR INITIAL DOWN PAYMENT CHECK.

And YES, there are SmallBusinessOwners that will FIB on their applications, and Peter knows this, Peter is HOPING that you do FIB on your application.  If you do FIB on your application, he will keep your downpayment EVERY TIME.

Understand the SCAM HERE.  He is telling you that you are APPROVED over the phone.  The SCAM here is that he will give you this ROCKSTAR looking APPROVAL at first glance(knowing that he will never get a real approval).  He will do this so you SEND HIM A CHECK.  Once you send him a check for the first and last payment, and he cashes it, that is when he will actually start looking for LEASE OPPORTUNITIES for you.  HE DOES NOT HAVE ANY SOLID APPROVALS on YOUR BUSINESS FINANCING when he quotes you.  His quotation to you is a LIE.  When he quoted me $2395.00 per month on a 24month lease at $53,000 - that quotation was a COMPLETE FABRICATION.  Peter fabricated that QUOTATION to get me to send him a $5185.00 check.  Once Mr. Ribeiro cashed the check it was difficult to get in touch with him.  Of the $53,000 in financing, he was only able to secure roughly $13,000 of the $53,000.  Also, the rate and term of the $13,000 was not even close to what was promised in his ORIGINAL QUOTATION.

THE SCAM HERE IS SIMPLE - Peter BAITS you WITH THIS INCREDIBLE APPROVAL QUOTE - to get you to send him that first check.  ONCE you send him the check, he NEVER gets you the FINANCING that MATCHES his APPROVAL.

IF any government organization will simply do a check on Peter Ribeiro, they will see that all his quotations are fictitious.  They are not REAL.  They are SIMPLY BAIT! so that later he can make a SWITCH and get you into higher priced financing.

This is exactly what he did with me.  Weeks went by and he was never getting me the financing.  I had already ordered all the equipment from the vendor.  The Vendor was told by Peter that I was fully approved and that the vendor can send out the equipment.  The vendor went ahead and sent out all the equipment and Peter never had the full approval like he said he did.  

The $13,000 approval that he did get, it was not the correct rate and term that he initially promised.

I signed the deal anyway on that $13,000, because I already had ordered all the equipment and I needed a payment to be made at that time otherwise it could have turned even worse.   (This again is by design, the longer it takes for him to get you the full approval, the more this works in his favor because you already started making plans on his INITIAL APPROVAL)

Later, after Peter got the $13,000 approval.  He came forward with another $11,000 approval through another lease company.  This $11,000 approval had such a bad rate and term and the lease itself was completely different from the ORIGINAL QUOTATION EFA.  There was NO WAY I was going to agree to this new $11,000 rate and term that Peter was proposing, it was DOUBLE to TRIPLE the cost of his ORIGINAL OFFER.

See, this is where the SWITCH comes in on the BAIT and SWITCH tactic.

He BAITS you with this great offer.

Then he goes to these different leasing companys and ACTUALLY GETS YOU TRUE PRICING and hopes that YOU DONT READ THE FINE PRINT.....and if you do read the fine print, he is hoping you are desperate enough to simply sign it anyway (the SWITCH) because you need the financing.  In my case, I was not desperate for the financing, so I was not going to sign something that I never agreed to.

I sent him an email saying that I do not want the financing that he was proposing in his switched offers.  I requested that I ONLY WANTED the original signed approved agreement of $53,000 for $2395 per month.

Once I sent him that email that I did not want the financing because the financing was different from what we originally signed - He then tried to state that I breached the contract with him because the contract is not cancelable.  To this day out of that $5185, Peter owes me $3300.00 or he still owes me financing on the remaining $40,000 of the ORIGINAL AGREEMENT.

My experience is not the only experience here, there are complaints in many places online about this similar tactic from Peter to other business owners.....feel free to reach out to me if you had the same experience.  I want my $3300.00 back from Peter that he has taken from me through this BAIT and SWITCH tactic.