In February I paid Goldfeild Corporate Headquarters (now doing business as The Corporation People) $30,000.00 for a 10 year old aged corporation. I was promised that the corporation would come with 1M in financials and an impeccable credit history including a Dun and Bradstreet number and Paydex score of 75. They also promised to deliver business lines of credit of $1,000, 000.00. With $500k in 30-40 days and the rest to follow in 60 to 90 days.
I followed their directions to the tee, and completed a list of compliance needs that cost me an additional $2200.00. After providing everything that was requested, it became very difficult to contact my rep - Lee Stancil, and I was promised paperwork that would be required to obtain funding. That paperwork never came and all I got was the runaround. I tried contacting Ed Kerr and John Bausch to get some assistance but I just kept getting passed to another rep named Anthony who was no help.
We finally got some paperwork from them which was nothing more than a 4506-T (request for tax transcript) and an application for a business loan from Chase (I can get that myself for free). The corporation that we purchased did not come with the financials OR credit rating and I found out that the previous asignee of the corp filed bankruptcy so there is no way it can have a clean credit rating. We have requested a full refund but now the people at Goldfield are dodging calls. We are now having to pursue litigation and have also contacted the Nevada AG's office, The Department of Consumer Affairs, The Better Business Bureau, and other government offices to help us.
Word to the wise... You cannot obtain a business loan without personally guaranteeing the loan and/or providing collateral unless your business has established trade lines. Companies like Goldfield are preying on the hopes and dreams of small business owners and entrepenuers who are deperate for capital to start or expand their businesses. Take it from me and my experience - there are NO shortcuts. We are now applying for an SBA loan which is what we should have done in the first place. Steer clear of any company wanting Money up front in exchange for providing business credit. It may have been possible at one time, but in this current banking environment it is not!
Go green group inc.
Allen, Texas
U.S.A.
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