Complaint Review: Imperial Advance - New York New York
Imperial contacted me last year offering an advance. After submitting all of my information and requesting $20k I was told that I was approved but that I would receive 50% of the funds immediately and the other 50% in 30-45 days as long as my revenue numbers did not drop by 25% or there was no change in ownership of my business.
I accepted the offer and was funded the first 50% on 12/18/2014. Starting 45 days later I called Imperial multiple times a day trying to get someone to help me. My calls were never returned and all I received was the run around. Finally after getting fed up with them I started calling the lenders directly that Imperial used to fund the deal. That is when I was informed of what was really going on.
Imperial used two lenders to fund the deal, but the lenders were not aware of this. Imperial made sure that both deals were funded on the same day so they could hide one from the other. Imperial knew full well that both of these lenders were not going to release any additional funds in 30-45 days. They also knew that once one found out about the other that I would not be able to get renewed.
All Imperial wanted was to get something funded so that they could receive a commission from the lenders with no care that I would not be able to receive the rest of the funds that I needed to make my plan work. Had I known that the other funds weren't possible and that Imperial was flat out lying to me I would have avoided the advance altogether.
This type of business practice is not acceptable and others should be warned so that they may avoid this same type of scam. As I mentioned earlier, I spoke with the CEO's personally of both lenders and they were not happy with Imperial's practice and also stated that they would have never funded the deal had they known Imperial was "double stacking" lenders at the same time to avoid being caught.
This report was posted on Ripoff Report on 02/24/2015 09:33 AM and is a permanent record located here: https://www.ripoffreport.com/reports/imperial-advance/new-york-new-york-10018/imperial-advance-very-deceptive-business-practices-used-by-this-company-avoid-new-yor-1211298. 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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