Capital Finance Associates Fraud or scam to rip-off small business owners Salt Lake City Utah

This is a totally fraud company that is looking to make money from small business owners. They know the small business owners need help with securing funds and they target this group for their grand scheme. I would like to share the experience that I had so that no body else get caught and fall for this fraud or scam.

Vince is the first person who will call and let you know that they have great funding options with excellent rates, I was told the following.

Start Up Business Loans

- $10,000-250,000

- 1-10 Year Terms

- 3.25-8.25% Rates

Once you agree to proceed further he will assign you to funding adviser. James was the one who was assigned to look at my file. He came back with the information that I had great credit score and I will get the entire funds requested at 0.9% - 3.25% within 48-72 hrs. He promised and boasted that they are the fastest in market in securing funds and that Lenders are ready and agreed to fund if I complete the following - Business Plan, DUNNS & website. They then get money out of this by offering to get this completed on my behalf for a fee of $1500. This amount could be anything they decide. I never wanted this service but in order to secure the best funding option agreed to it. After completing all this I still did not receive any funding. It was more than a month and still no funding. James talks and promises a lot in his marketing pitch, so please do not fall for his promises. As soon as they get the money it’s a whole different story, he will not even talk to you and say that the file is with a different department, a convenient lie.

When I tried to reach talk to James, he does not pick up the phone. He states that he is very busy with other customers and cannot talk to me without appointment and that my file is with fulfillment and he does not know anything further on it. This is a grand lie, as I called him from different phone numbers and he picked up, confirming that he is not at all busy. He keeps on asking me what is this number you are calling from, it is not listed. When a company is very much interested on my phone number that they do not have listed that is a red flag that they are doing something fraud. I knew this is just a small team of 2-3 people working together to rip off people. Once they got the money then they started talking about process and I have to wait, this was not the promise that they made when initially talking to customers. It has been more than 6 weeks and still they are not able to secure funding, please do not fall for this scam.