Twenty Four Seven Funding LLC
Complaint 93739 Details
- Date Occurred: 03/02/2014
- Reported Damages: $500.00
The complaint is against an online dating profile
The complaint is a listing fraud posted on public forums or sites against an anonymous entity
The complaint is mobile text spam or smishing related against an anonymous entity
The company or person contact no longer exists
International boundaries
This company has quoted 3 different up front fees to get loans and investment. I have professional accountants and lawyers , all documents were in , in a timely manner complete, when I read the reports I thought those other complainers were just un organized,or didn't complete the requests on time which having a banking back ground my self know how important that is.Every time they call they ask for the balance of the retainer, I have them on recording asking three different times in different ways, they were more interested in the up front fee than getting the loan processed and when I called the out on it, Kelly Fontain called and screamed at me , blaming the broker.. not true! STAY AWAY, RUN..Thank You.
Below are 2 different quotes,
Dear Mr. Raines:
The clarity of the mattter is as follows; Normally we issue or formal documents after review of the transactions merits and the file was made into 2 separate tranasctions: The original Bridge Funding would normally recieve the refundable retainer of $2,750 for bridge financing
Re: $1,500,000 Secured Bridge/ Expansion Capital for Drake Book, Inc located in Long wood, Florida
Dear Mr. Raines:
This letter will confirm agreement between Borrower and Twenty Four Seven Funding, (24/7) with respect to the above referenced transaction. In the event that Borrower accepts and closes on financing from a funding source introduced by 24/7, then 24/7 will be entitled to receive a one-time fee of TWO PERCENT (2%) on the funded amount to be split on a 50/50 basis with United Capital Partners, the introducing broker, payable out of proceeds at closing.
IF YOU NEED FURTHER INFORMATION PLEASE CALL 407 520 9731 THESE PEOPLE ARE NOT LEGITIMATE !
- ChasebankGirl SBID #379b13a471
- Posted 03/26/2014
Comments
- Kelly SBID #b74d07b8f4
- Posted 12/12/2013
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You do not qualify and you knew this going forward. You do not have $12K to 15K in deposits per month.
You are channeling your business and not making any money.
You are simply moving one ledger to another to give the appearance of making money.
---------- Forwarded message ----------
From: <[email protected]>
Date: Tue, Mar 13, 2012 at 11:58 AM
Subject: RE: Drake Book ,Inc: Business advance against current banking statements 03-13-2012
To: Kelly Fontaine <[email protected]>
October 2011 and January 2012 both below $15K. I am not interested in this deal.
Bob Taylor
(843) 902-0422
Palmetto Funding of the Carolina's LLC
425 Rustic Ct.
Myrtle Beach, SC 29588
www.palmettofunding.com
The client simply misrepresented and our signed fee agreemnt outlines the remedies for a misrepresentation:.."This retainer is refundable in the event that our funding source fails to provide a formal proposal to Borrower in accordance with the terms outlined in our accompanying letter, provided that there have been no material misrepresentations or omissions made by Borrower."
We then tried to still assit her with another funder and she stated :
Lets go to court and we will let them count because obviously one of you do not know how, if it was him then im sorry, but someone is adding wrong..
Gina LeBlanc
President
Drakebook.com
Instead of going to court as she bodly state She would; The client simply went on the internet and committed slander and libel because, she knew she had no case -
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- Kelly SBID #b74d07b8f4
- Posted 12/17/2013
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RESPONSE PART 1: BY TWENTY FOUR SEVEN FUNDING
HERE IS OUR RESPONSE (BELOW),,,, TO THE INTERNET POSTING AND OUR ATTACHMENTS AS PER SIGNED FEE AGREEMENT AND PROPOSAL OF THE TRANSACTION.
---------- Forwarded message ----------
From: Kelly Fontaine <[email protected]>
Date: Wed, Sep 12, 2012 at 11:48 AM
Subject: [FWD: Internet Responses: - Formal & Details]-updated
To: kelly <[email protected]>
Cc: Kelly Fontaine <[email protected]>
Thank You.
First of all we are thank you for your interest in our firm.
We will answer you as per the internet comments:
1) The client on Drake Book (posted a negative comment on Scam .com ) as she wanted a financing for a transaction that she did not initially quailify for.
She signed up for Business Loan and the product required the client ot have 12k to 15k in deposits monthly.
This client was simply moving cash from her personal account to the business giving the presumption that she was cash flowing.
Our formal documents always read the.."The funder will need to be satisfied that the borrower can cover the monthly payments on this loan, that the project is feasible and that there is a reasonable exit strategy to take them out of this bridge loan. They will also need to be satisfied with the borrowing entities financial wherewithal."
Here is the remarks directly from the BDO/Funder as per misrepresentation of her financial wherewithal>>>
[email protected] to:
Kelly Fontaine <[email protected]>date:Tue, Mar 13, 2012 at 11:58 AM
As you know our minimum average balance is $15K. These statements reflect $3K.
Bob Taylor
(843) 902-0422
Palmetto Funding of the Carolina's LLC
425 Rustic Ct.
Myrtle Beach, SC 29588
www.palmettofunding.com
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- Kelly SBID #b74d07b8f4
- Posted 12/17/2013
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Retainers versus Funders Due Diligence Deposits and Commitment Fees
We are providing the client with a specific funder who can offer financing to them based on the funders review of the representations made by the borrower with respect to loan size, geography, credit profile type and mix of collateral etc. The retainer paid to us by the borrower is not a deposit to be used for due diligence but rather an engagement fee to arrange for the specific financing.
We require this retainer to protect ourselves against situations where our borrower has inadvertently misrepresented the value of collateral or the cash flows to cover debt service. It would also protect us in a case where the funder finds they cannot perfect a security interest in the collateral being offered or the borrower cannot provide the necessary documentation that the funder requires.
Because we do not require any exclusivity with respect to our fee agreement, the retainer also protects us in the event that the borrower obtains financing elsewhere, secures an equity infusion, or simply decides that they do not require the financing at this time. If the loan does not close for any reason, other that our inability to produce a capable funder, then the retainer covers our time, effort and expense regarding the work done by us.
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Company Statistics
- Complaint Against Twenty Four Seven Funding LLC
- Complaints Filed: 6
- Reported Damages: $22,200.00
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