Merchaint credit card loan. I was approved for a loan useing my credit card sales as a means of pay back. They came to my store installed a new credit card machine which at the end of each day gos directly to them. They take there percentage out and than deposit the balance to my account.
I have been in business for about 4 yrs and do and average of 30,000 a month in crdit card sales. I was told I was approved for a 18,000 loan but first had to have there credit card machine installed at my store. The fees and percentages are higher than what I was paying my old credit card processing company. After all this was done I was told a wire transfer was being put in my account for 18,000 GUESS WHAT I NEVER GOT IT!!!
After 1 week of phone calls to the CEO, VP, Sales dept. I get a return call saying that there was a lein on my business so they decided not to wire the money. There is no lein on my business, the money (18,000) is securied by my credit card sales (30,000 a month). Funny they called me 3 to 4 times a day to get this started than it took them a week to return my phone call.
0 comments