master capital solutions
Complaint 310272 Details

CAPITAL LOAN FRAUD -- STAY AWAY -- THEY TAKE YOUR MONEY and DON'T DELIVER.

My company paid an application fee of $1,250 for a structured collateral loan program offered by Universal Capital Solutions, a.k.a., Master Capital Solutions ("UCS-MCS").

When UCS-MCS accepted us into the program, we signed a Term Sheet and paid an additional $2,500 for underwriting & processing and a $12,500 commitment fee for UCS-MCS to structure a qualified Collateral Instrument to complement our project (i.e., business applying for loan) and coordinate both of these elements with a lender to receive a commitment for a $2,000,000 business loan.

When UCS-MCS's efforts with an initial lender were unsuccessful, they introduced a second lender and had us pay an additional $7,000. When this lender closed operations for a 2-month holiday break, UCS-MCS introduced another loan-broker who presented our project to lenders.

This broker was able to identify a lender willing to fund our business loan subject to receiving validation that UCS-MCS has structure a qualified Collateral Instrument. However, when UCS-MCS failed to receive lender approval for the collateral instrument, the lender decided not to extend us a loan.

We have since filed notice of Breach of Contract to Master Capital Solutions/Universal Capital Solutions requesting a full refund. But, they refuse to do so.

We have also filed a complaint with the Better Business Bureau and Illinois Attorney General.