UNION CAPITAL ASSOCIATES, Inc. LOAN FEES CONFINSCATED- Huntington Beach, California

Quite frankly, we were shocked to find that this client made such a post on this website as she herself took responsibility for her mistakes via phone and email (you’ll find said email in this response below).

"Hi {representative name},

I do know that you are trying hard. 

Unfortunately I made a bad business decision with this merchant company and every day is costing me about $1000.  I reached out to (competitor) today because I knew that I had already paid down my current loan over 50%, which they require.  I have attached there offer which will fund by Friday after I talk to them on the phone tomorrow.  The terms are not bad and there is no loan fees, in essence I get done what I wanted but I'm paying (competitor) way more. At this point I'm going to have to go with (competitor).  If it means losing my down payment to your company then I guess I made two bad business decisions in the last few months. 

If it wasn't for the merchant issue I would have no problem waiting.  I do really appreciate all your help on this, and I also understand (our funding partner's) issue with the amount of payoff, (competitor) did as well, which is why they made me take a bigger advance so that the payoff was closer to the 20% mark.  I actually didn't want this large of a loan but due to the payoffs had to take it. 

Anyway, Thank You again for trying to help me and I'm so sorry I made it so difficult. 

Thanks

(customer name)"

After reading the client's email you can see why we are so surprised and disappointed in her choice to post such a scathing review about our services. We think you will agree that her review does not accurately reflect the details that she acknowledged in her email to us. Please allow us to explain the situation as it happened from our perspective. We're sure that you'll agree that our perspective is much more in line with her own words to us than with her review on this site. As a side note, after becoming aware of our client's post on this site we attempted to contact her numerous times and she did not return our calls.

With regards to the documents issue on the first finance transaction for this client; yes, our funding partner made an honest mistake where they prepared “California” documents as opposed to “Oregon” documents.  This clerical error was addressed promptly and corrected.  It’s quite clear by the client’s subsequent actions that the documentation mistake was not a major issue as this same client came back to us for more help in securing financing on a second loan within just one month’s time. 

The second loan was to be a working capital loan that would refinance three notes that the client currently had in place, which allowed her to change merchant processing companies and add some additional working capital to help build her business.  As a part of the application process the client had the responsibility of letting us know how much she owed on her current loans.  Once we had that information from the client on 11/25/2013, as well as some additional financial information, the transaction was APPROVED on 11/26/2014 and the final loan documents were sent out to the client. The documents were signed and sent back to us on 11/28/2014.  As is standard in the finance industry the loan was moved into the funding process once the signed loan documents were received.  As a part of this process the written buyouts were requested from the lending institutions that were being refinanced.  When the loan amounts came back from these lenders we learned that the client had grossly misrepresented the amounts that she owed to these lenders.  Had this been a small miscalculation (perhaps several thousand or so), it would not have created any problems. However, that was not the case.  Unfortunately, the amount she owed exceeded the amount we were able to loan her under the approved structure.  At this point we went back to work for her and did everything possible, including getting multiple people from multiple departments involved, in an effort to secure yet another approval for a larger amount and in an expedited manner. Despite the fact that the client had largely misrepresented the amount of monies owed to her lenders we were able to secure that additional approval. Unfortunately, this approval was secured just a few days after we received the aforementioned email from the client. Previous to her email she had never mentioned that she was seeking funds elsewhere.  Had she done so we could have ceased our efforts, allocated our time and resources to other clients and forgone the labor, effort, and expenses that went into the processing and acquisition of the loan that she had requested.

In regards to the deposit; in her post she states that her deposit was confiscated, however, in her email you can clearly see that she acknowledges that her own misrepresentations were the issue, not our services. Despite the misrepresentations by the client and her defaulting on our agreement we still did not consider the deposit forfeited. We informed the client that all monies could still be utilized on any future loans and that the deposit would be applied in full towards that loan. As Business owners our clients enter into agreements on a daily basis. These agreements are to ensure that the resources they allocate for the services that they render will be actualized. Whether the service is providing machinery, leasing commercial space, building homes, machining parts, or screen printing signs, their business has an agreement and a financial partnership with their customers. We are no different than our customers.

On a personal note, I am very disappointed and hurt that this client would seek to harm our company. I felt that I had an excellent relationship with the client and I, as well as my colleagues, made tremendous efforts on her behalf.  We are whole heartedly committed to helping each and every one of our clients.  We go to great lengths to help them grow and thrive in their respective businesses by providing them with unparalleled service and a vast array of financial products. It’s a shame that of our literally thousands of clients that someone, who at first appeared to be a genuine and caring person, would go out of her way to slander our company.

Please feel free to contact us with any questions in regards to this situation or any questions whatsoever.  Moreover, please feel free to request customer references or any other information you may need about our company.  We hope that this has shed some light on this matter and we look forward to the opportunity to earn your business and prove to you what our company is really all about.  We don’t just want to work with you on your next transaction; we want to be here for all your financing needs for years and years to come.

Sincerely,

Union Capital Associates, Inc.