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Report: #693536

Complaint Review: Rapid Capital Funding - Miami Florida

  • Submitted:
  • Updated:
  • Reported By: Brian — West Hills California U.S.A.
  • Author Confirmed What's this?
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  • Rapid Capital Funding 6205 Blue Laggon Dr Ste 500 Miami, Florida United States of America

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Rapid Capital Funding provides business cash advances to small business owners in the US.

I am an independent contractor who signed a contract to be paid 6% of the total amount of deals  submitted and funded  to Rapid Capital Funding.  A deal that was funded last week was paid to my company but, was short $1290.  Upon numerous attempts to contact Craig Hecker (1 of the owners) to resolve this and had no luck, wouldn't answer phone, call back, return voicemails or return emails.  Finally 1 week later I hear from Craig via email that my commissions were cut and he acted like he had no idea all along.  Seems to me he knew all along and was playing games.  I would have never sent him this deal have I known that.  I am a small business owner myself and the contract I signed with them I thought was valid.  It's like working all week for $100 then the week ends and the boss gives you $50 and you supposed to be fine with it.  In today's economy, businesses that

Not to mention, the business owner I sent to Rapid Capital funding was so upset by the process that he no longer is my client after being my client for the last 3 years.  He had to sign numerous contracts and the process took about a month to be funded. Then after funding he noticed all the hidden fees. Every day new documents were requested where it got to the point that my client thought the whole process was a joke.  He was lied to every step off the way.

A very competitive business has taken a lot of bad publicity for companies that try to pull fast ones like this, so if your an outside rep or a merchant think twice before using Rapid Capital Funding.

This report was posted on Ripoff Report on 02/10/2011 10:01 AM and is a permanent record located here: https://www.ripoffreport.com/reports/rapid-capital-funding/miami-florida-33126/rapid-capital-funding-craig-hecker-unlawful-business-practices-beware-lies-lies-lies-m-693536. 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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REBUTTALS & REPLIES:
1Author
0Consumer
2Employee/Owner

#3 Author of original report

Still ridiculous

AUTHOR: Blookin - (U.S.A.)

POSTED: Friday, August 26, 2011

I hope anyone who reads this can see for themselves and realize  what Craig Hecker is all about.  The lies never stop, even a year later.  I have dropped it and and he keeps coming back for more.  Of course he is going to talk about his reputation in this industry. I've explained before what happened and it is what it is.  Karma will eventually bite this guy. 

I repeat--no one told me about commission cuts until a month after the deal funded.  I have records of it all.

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#2 REBUTTAL Owner of company

CEO: "RCF solved a problem Brian created".

AUTHOR: Criag Hecker, CEO Rapid Capital Fun - (USA)

POSTED: Friday, August 26, 2011

I am Craig Hecker, CEO and founder of Rapid Capital Funding, LLC, a direct funder of
merchant cash advances.  Rapid Capital Funding has offices in Michigan and Florida and is one of Americas most trusted and reliable merchant cash advance providers. We have maintained an A
rating with the Better Business Bureau for close to four years. 80% of our
clients are repeat customers. Since 2007, RCF has been providing working capital solutions to all types of businesses nationwide.  We do not now, nor have we ever, charged up front fees for our cash advance services.  We have dedicated underwriting, in house funding and legal departments, on site customer service and pride ourselves on 100% customer satisfaction.  We also have certain relationships with third parties representing our services in certain markets, all of whom have met and maintain the highest standards of professionalism and ethics.

 In response to this post, I wish to inform the reader that it was written by a former third-party independent representative whose contract was terminated.  In violation of Rapid Capitals policy against bait and switch sales tactics, Brian quoted non-approved rates to the merchant rates below the acceptable margin to Rapid Capital in context of the risk assessment (underwriting).  In keeping with our 100% customer satisfaction policy, we offered, and Brian agreed, to take a lower commission
if we discounted the program so he could save face with the customer.  Rapid reduced (and nearly eliminated) our margin on the transaction for the customers, and Brians benefit.

 In light of this situation we have
revised our training and screening process for independent representatives.

Craig Hecker
 



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#1 REBUTTAL Owner of company

Contractor took a slide on the advance

AUTHOR: Kristine Hernandez - (United States of America)

POSTED: Friday, February 11, 2011

Rapid Capital Funding is a well established merchant cash advance provider that prides itself on excellent customer service.  This outside representitive sent in a file and sold a cost of money that was lower that our standard offering for that program.  It is a standard policy that when a sales office has to slide on cost of money in order to sell a deal that we do what is called a 1/1 slide match.  This means that if the sales partner had to slide 4 points to close the deal then commissions are slid by 2.  This is a very standard policy in the merchant cash advance space and one that all direct funders use.  We offered an explanation to this sales rep Brian Harris so that he understood. 

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