GCR Capital, located in Safety Harbor, Fla., supposedly "pre-approved" my request to finance a new piece of equipment to be used in the disaster relief work in the Hurricane Katrina affected areas of Gulfport, Ms.
After several days and them pressuring us to send them a bank check in the amount of $2,925.00 by a certain date or the funding would be terminated, we did as they requested. They then promised the funds to be released to an equipment dealership who was patiently waiting for said funds (without a nickel's worth of money from me, just on my word pending what the lender was relaying to me,) within 2 days after receiving the $2,925.00 downpayment.
One week after receiving the downpayment, after contacting them personally several times in between, I get a call from an underwriter affiliated with GCR Capital. He proceeds to interview me in regards to the loan, then within the final few questions asked, started to ask questions pertaining to my house. Questions such as "how much is it worth", etc. I told him I was not aware of anything in this transaction that would include my home as collateral, and if I was informed about it upon initial consultation with GCR, I would have NEVER gone any further with their request for information. Secondly, I was told SEVERAL times that we were indeed approved. I am incorporated, and do not wish to include our home in any business matters. PERIOD.
Now, GCR's CEO contacts me, and states that because I refused the funding that my downpayment was "earned" by GCR. I did not refuse it; I never received it in the first place!!!
I now have an attorney involved, and hopefully we will have some relief from this dishonest lending institution.
Consequently, since the transaction requested took so long to process, and never was actually initiated, I lost my contract with the disaster response company that I was under agreement with, because of the time-constraints of the project.
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