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Merchant Growth Capital, New York, New York Complaints & Reviews - Never trust their decisions regarding your application

Merchant Growth Capital Contacts & Informations

Merchant Growth Capital

Posted: 2013-05-26 by    Wussarn

Never trust their decisions regarding your application

Complaint Rating:  25 % with 4 votes
Contact information:
Merchant Growth Capital
1370 Broadway, Suite 520, 10018
New York, New York
United States
Phone: (855) 886-3746
www.merchantgrowthcapital.com
I had a great idea for my business development and wanted to give it a go but thing is that I didn’t have any funding options to start things up. I research different investment companies and found one called Merchant Growth Capital, I went through the FAQ on their website and it turned out that I qualify for an application. I filled all the application forms and soon received a reply from Merchant Growth Capital, they informed me that my application was approved and I should receive funds in 3-7 business days. That was exactly what I needed so I proceeded with ordering various items I needed for my restaurant believing that in a week or so I will have enough funds to pay for those items. But everything changed when 4 days after approval I received a call from this company saying that my application was revised and another decision was made - I won’t get any funding from them. This completely ruined all my plans and I’ve lost possibility to pay for all the equipment that I’ve ordered, in addition to that some of the items on that order list required to have non-refundable deposit paid in... At the end of the day it looks like this company can’t be trusted whatsoever. I relied on their decision but they’ve scammed me... Now I face financial issues with people I’ve ordered stuff from and this Merchant Growth Capital doesn’t want to take any responsibility for that.
Comments United States Savings & Investments
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 14th of Jun, 2013 by   aardvark1979 0 Votes
Got a letter with a check attached from same company, realizing we had to update our business equipment i called the number on the letter they told me they needed to get 6 months of business statements and a one page application and they would get back to me, that was Monday here it is Friday and still no answer from them but they guarantee approval within 24 hours...
 2nd of Oct, 2013 by   aardvark1979 0 Votes
please remove this comment this company helped our company out .
 3rd of Oct, 2013 by   aardvark1979 0 Votes
Seeing that my previous comment hasn't been removed yet, I would like to give a great Thank you to Merchant Growth capital, when I first contacted you about our Business advance I did get a little frustrated with the long wait time to get approved, but realizing you were working with a New underwriting firm I completely understand that good things sometimes take longer, Dealing with you guys have been a pleasure and i hope we continue to do business in the future.
 10th of Oct, 2013 by   kingjafu 0 Votes
Have you repaid the advance yet I too received a check from them and I am curiuos to how it works as my business has not opened yet and need a bit more start up capital .I also do not need but a quarter of what the check was issued for. What are the fees and interest rates involved with the advance .I have read that merchant loans can get crazy high rates as they are not considered loans but more on the lines of a cash advance and they will just use your credit card system as repayment
 24th of Jul, 2014 by   omgomgomg 0 Votes
It is very easy to get a loan from them. But their longest term is just 8month with relatively higher rates. For example, if you borrow $10k, you will have to pay back more than $15k in 6-8 month. Anyone can afford it, you'd better go with them. Otherwise, keep away from it.

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