Definitely not a professional attitude when you decline their offer. Approved for $100k and pay back on daily basis over 8 months is $133k, that says the interest paid is 33% but according to Travis Gerlach, I am wrong and i dont know how to calculate a simple interest rate. I understand it is based off of a declining principle but that is crazy to insult a potential client. Then I said, we will decline the offer as we have other better alternatives, he replies "what other offers do you have given COVID-19?" Seriously? I told him we have a line with Chase at 8% and he boldly says, then why did you apply with us, i told you it would be 15% interest rate. You are right Travis, i should not have bothered with your company and had done a simple search "crestmont capital reviews..." and notice that at the end the word scan is auto suggested and should have just ignored you guys.
Your offer is absolutely outrageous in many avenues;
1. You insult your customers thinking you are better than them, however, you are the person working for someone else while we run a business.
Next time, instead of telling your customer, you don't know how to do it and you are wrong, educate. Do not insult or under estimate any other human being.
2. based on $180k in A/R, $100k approval on the strictest terms of daily repayments and maximum of 8 months? Okay fine, you are hedging your risk, I understand.
3. When someone declines your offer because you are the most ridiculous offer they have received, do not get offensive, it is not personal, I am not here to serve you and make you rich by paying 33% interest in 8 months so you can get a bonus. Just like you reject clients because they do not qualify, your potential clients have every right to decline to do business with you when they choose to do so.
Tip for consumers:
do not use them. they are feeding on poor business owners who may not have a choice or are in dire need. thankfully we were neither. Go to local bank and get a line of credit for 8-10% and at least there is a trust there.
Products used:
we applied for a loan but DID NOT accept it because initially it was to be around 10-15% rate line of credit but they changed the entire promise, went to a lease with 33% interest
Is this your business?
Claim your listing for free to respond to reviews, update your profile and manage your listing.