- Report: #1475230
Complaint Review: United Secured Capital - Brooklyn New York
Reported By:
INEDT -
Syracuse, New York, United States
Submitted:
Updated:
-
Author Confirmed
Why?
United Secured Capital
307 Kings Highway Brooklyn, 11223 New York, United States
Phone:
516-753-9353
Web:
https://www.unitedsecuredcapital.com/
Categories:
Business Rating:
(0)
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United Secured Capital Isaac Kassab Albert Gindi Short Term Business Loans Brooklyn New York
I applied for a $100,000 short term business loan. I was approved for $70,000. with high interest and sky high fee's. At the time of approval, I was informed that after 5 weeks of payments, they would provide me a $300,000 line of credit.
The loan terms and interest were not the best but I could work with it to act as a bridge until recieavables started coming in. Prior to signing - I reviewed the contract documents and noticed they inserted a $10,000 one time fee for a "line of credit"
I contacted USC and addressed this - they assured me this was only a charge is ONLY for a Line of Credit. (It actually states "Line of Credit" on their contract documents. NOT a loan fee.)
I recieved the funds in my account from Green Note Capital Partners of $67,000 and that same day - United Secured Capital had withdrawn $10,000. For a $70,000 loan, I recieved $57,000 and I have to pay back $104,000
I contacted USC and GNCP immediately and have recieved nothing but a run-around, lies and obstacles. I am a small business that has been ripped off. I have contacted my attorney, the attorney general and the DA's office.
