Five Point Capital has not changed their sales approach of fishing for new customers as was originally reported 1/24 complaint.
I am a small business owner. I got a letter January from Five Point Capital which stated that my business was pre approved for a $100k lease line of credit. When I called Five Point, I spoke to Henry Veera who was my "account exec". He said that I had been approved for the leasing based upon my companies Dunn and Bradstreet credit report. I discussed that I was concerned about the promotion and I reviewed their website and looked online for blogs and did not see the complaint you posted 1/24.
Upon the online registration I did not use my SS # while applying. I told Henry that I had some issues personally in the past and was very clear on my concerns about fishing my personal credit. He assured me that the approval had already been made based on my business alone and they just wanted to ensure the owners had no current collections or BK's. And they had many programs that would work and again assured me with my input we discussed Five Point would have options for our Business.
As with your other complain tent, I was told to shop for the equipment needed and I just needed to fill out a verification form, He faxed me the form which I filled out and faxed back. I did not lease anything at that time but I did get "statements" in the mail which showed the available credit and my balance of zero.
I finally submitted some equipment which they returned a decline based upon my personal credit. As I was concerned about companies fishing, all I received was a hit on my personal credit. As much as I have no out of pocket at this time, it is damaging financially to personal credit and will stay on your credit report for the next 24 months.
I hope more small business entities will see this before they bite on the smooth sales approach of Five Points. It is a very good sales promotion.
My suggestion is work local - one on one with your local financial institution
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