Our company signed a contract for funding services with Pearce Financial Group on 7-99. This company funds companies who need money to make their payroll. They advanced us 81% for each invoice and they are suppose to remit the reserve money held when the client pay them.
Since the beginnning they have never been paying the reserves on time and they canculate more days when actually the client paid sooner so they can charge more interest money.
Also we had a problem of getting some non-funded checks sent to them by a client. They would try to keep that money unless you bugged them for it. I got tired of this and stopped funding with them. They owed me reserve money of about $3,900.00 which they said they would pay me. After months of trying to get the money they finally said they were going to keep the money because I cancelled the contract. They are a rip-off company and they do not honor their word and they are very misleading.
Any companies who need payroll funding, beware of this company. There are other funding companies out there who are not con - artists.
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