Complaint Review: Innovative Capital Strategies Inc. (Thomas Montgomery MHA MBA Owner) - Tyler TX

I watched an online webinar given by Estella McCoy, A Branch Manager Of Innovative Capital Strategies, Inc. She spoke about how this non-profit organization headed by Thomas Montgomery, an ex-college professor and former SBA employee, had formulated a company that would help individual acquire guaranteed business credit of $100k.

This credit building educational platform was tailored for underserved minorities to qualify for hard to acquire SBA loans of 2% for 10 years.

On the company’s website it states:

Through a grant-funded program, we assist small businesses in qualifying for SBA and business loans through our Capital Ready & Business Funding Program.

Innovative Capital Strategies, Inc. (ICS) has been retained by a 501(c)(3) non-profit that is a member of the Money Smart Alliance developed by the SBA 

Estella McCoy convinced me that ICS was the company that was going to help my son and I build our business credit for future SBA and minority business loans qualification. All I needed to do was to invest in a $300 application fee and they would get the paper work going to get funding for me within 30 days.

I gave her my credit card and my son gave his credit card information over the phone to set us up. During such time, there was no mention of the Terms and Conditions or the non-refundable application fee.

For several weeks, because of the “Holiday” (their excuse) no one got back to me or returned my calls or showed up for scheduled credit consultation online meetings. We are talking 2 ½ weeks.

I told Ms. McCoy that was not impressed with their lack of service as was going to pull out of the deal. She finally connected me to Thomas Montgomery, I spoke with him and he promised to get my paperwork started as soon as possible and referred me to Brittany Overstreet.

Brittany Overstreet and I had a pleasant conversation and she stated that she was going to connect me with the right company to help me accomplish my son and my objectives.

Five days go by and no Brittany. I contact Thomas Montgomery via email about the lack of professional service and I was texted a message from LEDCRED, the company that Thomas Montgomery referred me to.

They took all of my information and started the business and personal credit card funding process once the contract was signed.  

I was pleased with the terms and knew that Thomas Montgomery’s company would get a referral fee for the recommendation.

Upon completion of paying for the service I received, I received an invoice from Thomas Montgomery via email demanding that I pay their 9.5% performance fee plus the $2500 refundable fee once I complete the $100k rounds of credit obligation.

 If I Did Not Pay the $6,110.00 invoice, I would be charged $50 dollars a day until the invoiced was paid in full.

I was completely shocked and spoke with Thomas Montgomery and he calmly told me that I did agree to the terms and conditions of the contract when I signed up for the program.

I went to his website and saw the page with the small print of terms of condition that you have to check off. When I went to the separate page, I saw the fraudulent terms and conditions I was NEVER told of by Ms. Estella McCoy nor did I give her written or verbal agreement to sign or check off the terms or conditions on my behalf.

Moreover, I contacted LEDCRED whom I did have a contract with to perform services and they informed me that Mr. Thomas Montgomery had breached their contractual referral agreement by, in their words,” Double Dipping”. Double Dipping means I paid twice for the one service.

Thomas Montgomery got a check from them for referring me and got paid by me for doing performing the credit building service that he never did.

Hence, Mr. Thomas Montgomery and Ms. Estella McCoy performed Credit Card Fraud at my expense.  I have filed several Claim disputes with all the credit card companies for the return of the Application fee $300, the performance fee ($3,110) and the bogus $2500 fee that forces me to complete the program of $100k credit funding.

On a side note, Ms. Estella McCoy tried to con me into becoming a branch manager which I was considering until I found out they were a fraudulent company. The branch office consisted of $100k investment for licensing of 4 zip code which I would put down a $2500 non-refundable deposit and pay in full, I would get a $25k building funds grant.

Trust me, That is an outrageous cost for a license that is not even valid nor holds any type of real creditability.

Additionally, they had another program totally fraudulent to help personal and biz credit for people that had no business and bad credit to get $100k funding for a 24.9% performance fee. That is right! You would pay $25k on your credit card to get business credit funding for $100k.

Instead of building people with good personal credit to building good business credit this Woman-Owned Non-profit minority owned company that is actually owned by a caucasian male who sole goal is to make money by intentionally destroying minority (Black Women, Hispanic, Asian and Poor) people’s credit and financial lives.  

Thomas Montgomery and Innovative Capital Strategies, Inc.  are a predatory Credit and Business Literacy scam Company that targets Black Women, Men, Hispanics, Asians in particular. But on their website, they use photos and testimonials illegally from Credit Suite, another credit card repair company.

Do not take my word for that Innovative Capital Strategies, Inc. is a fraud, there is a Facebook group of 53 members and growing daily of people sharing horror story about ICS called Innovative Capital Strategies Is A Fraud.

Please join today if you have been a victim of Thomas Montgomery and Innovative Capital Strategies, Inc.

I, honestly, do not have time to dedicate to filing complaints or disputes because I have a business to run and a family to take care of, too!

 But I feel obligated to share my story and encourage people to fight against these thousands of predatory credit and business literacy fake companies that plan to scam you out of your money and destroy your precious credit to make money.  

Moreover, there are people whose stories are worse than mine. They have been scammed out of $25k, $16k, 5k etc. This is money they do not have to pay back on their credit cards.

I would not wish this company on my worst enemy!

Lastly, I work hard to build my credit score to 803 and my 19-year-old son has a credit score in the mid 700’s that I refuse form some con artist to destroy to make him rich and feed off of the financially illiterate and powerless minority community…. or so he thought!

Credit is just as important as money, today. You cannot get a good job, business funding, rental house, car and insurance just to name a few without good credit.

We are standing up for our rights, money and credit!