The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

Kyzer Funding Presta Funding / I didn't get full funding and the problem hasn't been solved

1 9480 S Eastern AveLas Vegas, Nevada United States Review updated:
Contact information:

I worked with Kyzer Funding Presta Funding Shawn Kinney. This company provided $60, 000 funding to my business. The company promised to send 7 credit cards for my name with the whole sum on these cards. I have paid 10% for their consultation. As well as they noted that they would take 13% of total funding in order to get it only. But the worst thing was that only two cards, which I got, contained some money. Others were with zero balance and when I called them, the rep said that their funds were tied up with other customers. They promised to solve this situation, but nothing was done.

Re
Jan 10, 2016
Sort by: UpDate | Rating

Comments

  • Ky
      21st of May, 2016
    0 Votes

    Dear Mr. McGonigle

    First let me start off by stating that our team had extensive conversations about why your Start Up could not qualify for a Conventional Business Loan & explained how we could still access the capital @ very low rates for 12 months. You agreed to this procedure, so we sent you an overview of the program. The Funding Agreement explains the program in full detail, along with interest rates, monthly payments & more. You actually received 7 credit cards totalling $61, 600. This was mainly due to your Income & Credit Profile not being strong enough to be granted $20, 000 per lender. Our main goal, which you agreed to was $50, 000 minimum, so your objective could be met. When i found out that it took more than the assessed amount of lines we actually billed you @ 8.9% on the 50K & let the other $11, 600 in funding be at no charge.

    The $8500 card that was mentioned had a 0% rate, but the lender wouldn't allow it to be transferred via a check, only to another card. You didn't want to wait for that, so other steps were put into place. We deal with several hundred clients per month that sometimes experience difficulty accessing the cash, so we make every step possible to aid & assist. We began liquidating cards for clients that were in a bind, such as yours & it allowed them to access their cash & start their venture. This came back to bite us when a client used a Co-signer for the program, but failed to make the payments to the lender. I was contacted by the lender, due to the client claiming fraud against their friend/partner & made aware that there would be a charge-back. This charge-back caused my merchant to take extra precautions, just in case there were others.

    I have several emails & voicemails from you threatening to put this information out on public forums, unless i didn't give you extra money. I was instructed by my lawyer that those types of threats were illegal & that we should file a case, but I quickly refused. I understand your anger & the stress level that this has caused.


    I've assited over 4, 000 clients raise 210 million or more to begin their venture or start their business & this is the first Fraud has been claimed. A simple mishap, shouldn't warrant this type of response.

    The main reason for the delay is because you kept submitting a charge-back, during the refund process. Below are the exact dates that it finally went through in September, not December as you quoted in your statement.

    Sep 28, 2015 Chargeback Settlement Completed ... -$4, 500.00 USD -$20.00 USD -$4, 520.00 USD

    Name: Chargeback Settlement
    Total amount: -$4, 500.00 USD
    Fee amount: -$20.00 USD
    Net amount: -$4, 520.00 USD

    Invoice ID: Mcgonigle Check
    Date: Sep 28, 2015
    Time: 21:34:56 PDT
    Status: Completed

    Subject:
    Chargeback Settlement
    Sep 28, 2015 Chargeback Settlement Completed ... -$3, 900.00 USD -$20.00 USD -$3, 920.00 USD

    Name: Chargeback Settlement
    Total amount: -$3, 900.00 USD
    Fee amount: -$20.00 USD
    Net amount: -$3, 920.00 USD

    Invoice ID: Mcgonigle Check 2
    Date: Sep 28, 2015
    Time: 21:47:17 PDT
    Status: Completed

    Subject:
    Chargeback Settlement

Post your comment