Complaint Review: GLOBAL FUNDING NET - globalfundingnet.com - Hilton Head South Carolina
- GLOBAL FUNDING NET - globalfundingnet.com Hilton Head, South Carolina U.S.A.
- Phone:
- Web:
- Category: Brokerage Companies
GLOBAL FUNDING NET - globalfundingnet.com TAG TEAM RIP OFF ARTIST INTERNATIONAL BUSINESS CONSULTING HILTON HEAD SOUTH CAROLINA
*Author of original report: International Business Consulting inc.
*Author of original report: International Business Consulting inc.
*Author of original report: PAUL TOMASI / INTERNATIONAL BUSINESS CONSULTING / Structure Capital Solutions
*Author of original report: PAUL TOMASI / INTERNATIONAL BUSINESS CONSULTING / CAVEAT EMPTOR/LET THE BUYER BEWARE
*Author of original report: PAUL TOMASI / INTERNATIONAL BUSINESS CONSULTING / FINANCIAL PROCUREMENT AGREEMENT
*Author of original report: Leave Dr. alone
*Author of original report: PAUL TOMASI/ WWW.INTBUSCON.COM/IBC/INTERNATIONAL BUSINESS CONSULTING
*Author of original report: IBC Hilton Head /JCA netherlands/ the story continues
*Author of original report: International Business Consulting inc./ Paul Tomasi
*Consumer Comment: Dr. Segal is currently helping
*Consumer Comment: Dr. Segal is no longer doing business with IBC
*UPDATE EX-employee responds: rebuttal
These two companies work together to scam innocent business owners into giving them a $25,000 [RETAINER FEE] to procure you funding from private investors. I just want everyone to look out for this, Imay never see my money back again but I can save someone else. Please watch out for INTERNATIONAL BUSINESS CONSULTING inc. PAUL M TOMASI, PAUL N TOMASI, VONILYN F. CHARLES and GLOBAL FUNDING NET Dr. Arthur Seagal, Dr. arthur Segal, Rabbi Arthur segal. I do not know how people who do this live with them selves please publish this and show it to everyone. BEWARE, BEWARE, BEWARE. do not let this type of scam get to you.
Don' Let this happen to you
bowling green, Kentucky
U.S.A.
This report was posted on Ripoff Report on 12/23/2007 11:08 AM and is a permanent record located here: https://www.ripoffreport.com/reports/global-funding-net-globalfundingnetcom/hilton-head-south-carolina-29928/global-funding-net-globalfundingnetcom-tag-team-rip-off-artist-international-business-c-294031. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
If you would like to see more Rip-off Reports on this company/individual, search here:
#12 Author of original report
International Business Consulting inc.
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Monday, March 24, 2008
INTERNATIONAL BUSINESS CONSULTING, INC. INVOICE
IBC-Offshore, Inc.
33 Office Park Road, Suite A-202
Hilton Head Island, South Carolina 29928 DATE: September 25, 2007
USA
TERMS
PAYMENT IN-FULL DUE BY NOT LATER THAN SEPTEMBER 28, 2007
Description Total
Professional Services rendered per Financial Procurement Agreement
TOTAL DUE via Certified U.S. Dollars ONLY $25,000
WIRE TRANSFER/SWIFT BANKING COORDINATES:
SunTrust Bank, USA A/B/A Routing # xxxxxxxx
For the Account of International Business Consulting, Inc., Account # xxxxxxxxxxx
NOTE: For international wires, the SunTrust SWIFT BIC Address is xxxxxxxxxxx
TOTAL DUE = $25,000
Our Duns, (Dunn & Bradstreet), Number: 60-440-5472
OUR MOTTO: We ONLY Say what we can do and then, we DO what we said, when we said we would.
Take note of the MOTTO it lends to the Financial Agreement being full of nothing. And notice the dates HURRY,HURRY....don't think about what you are doing!
#11 Author of original report
International Business Consulting inc.
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Monday, March 24, 2008
RE: RESTRICTED OFFER EXPIRING AS OF XXXXXXXXX
Dear
Pursuant to the Petition of your organization and Xtreme Offshore Funding, we have identified a number of Sources of financing who may be willing to go forward with your funding request. Upon full compliance with the conditions of the enclosed Financial Procurement Agreement, you can expect to be contacted directly by these Sources of funding within approximately two weeks, at which time they may advance the equivalent of their Forward Letter(s) of Commitment to you.
Before we will introduce these Sources to you directly, however, you must first make direct telephone contact with me as a possible precursor to meeting with me in person. While a face-to-face visit is not mandatory, with this letter you are cordially invited to conduct this important phase of our business relationship in person at either our North American Offices on Hilton Head Island or at our Offshore Offices in Nassau, Bahamas. Please let us know if we can assist with any travel arrangements.
It is imperative that you and/or your attorney contact me at (843) 682-3570 at least 2 days PRIOR to the above shown expiration date. We look forward to being of further service to you and your organization, and I look forward to meeting with you in the very near future.
Sincerely,
Paul Tomasi
Paul Tomasi
President & Managing Director
33 Office Park Road, Suite A-202
Hilton Head Island, South Carolina 29928
United States of America
Voice: (843) 682-3570 Fax: (843) 785-9942
E-Mail: ptomasi@intbuscon.com
IBC-OFFSHORE, INC.
Nassau, Bahamas
E-Mail: offshore@intbuscon.com
FINANCIAL PROCUREMENT AGREEMENT
This Agreement made as of the ______ day of ________________, 2007 by and between International Business Consulting, Incorporated, a South Carolina corporation, of 33 Office Park Road, Suite A-202, Hilton Head Island, South Carolina, 29928 U.S.A., (hereinafter known as IBC), and ________________________
with a legal address of _______________________, (hereinafter known as Client)
WHEREAS, IBC is engaged in the business of assisting persons in obtaining funds for capital needs; and
WHEREAS, Client is seeking funds (Funds) in the amount of, (In U.S. Dollars)
$____________________________, for the following purpose(s): ___________, (hereinafter known as the Project), and wishes to engage the services of IBC.
NOW, THEREFORE, the parties, intending to be legally bound, hereby agree as follows:
1. IBCS SERVICES
IBC shall disseminate information provided by Client regarding its funding needs for the Project to prospective sources of such Funds, (Possible Sources), and IBC, on a reasonable efforts basis only, shall attempt to introduce, refer, identify, or otherwise make known to Client the name, address and telephone number of one or more persons or entities.
2. CLIENTS OBLIGATIONS
A. On or before effective date of this Agreement, Client will provide IBC with full, complete, accurate and current financial disclosure information regarding Project that Client wishes to engage IBCs services in behalf of,
B. Without the prior written permission of IBC, Client shall not contact, negotiate with, or otherwise enter into any agreement with any Source identified or otherwise made known to Client directly or indirectly by IBC. Furthermore, Client shall keep the identity of and all negotiations with such Sources confidential and shall not reveal the identity of or the status or terms of any negotiation or agreement with any Source to any person or entity, at any time for any reason,
C. During the term of this Agreement, Client shall look solely and exclusively to IBC for introduction and referral to Possible Sources for its funding needs in connection with the Project.
3. TERM
The Agreement shall continue until terminated, which shall occur (I) upon either partys giving the other sixty (60) days prior written notice of such termination, or (ii) on the date that is one hundred eighty (180) days after the effective date of this Agreement.
4. FEES AND CHARGES
On or before the effective date of this Agreement, Client shall pay to IBC a one time, non-refundable, Retainer Fee, via certified funds ONLY, based upon the amount of funds sought in accordance with the following schedule:
From the equivalent of US$500,000.00 to the equivalent of US$25 Million = US$25,000.00 and,
From the equivalent of US$25 Million up = 1/10 of one percent of total amount sought (Total Funds Sought x.001) up to a maximum fee at US $100,000.
In the event Client obtains funds from a Possible Source, and thus becomes obligated to pay IBC a Placement Fee, as hereinafter described, the Retainer Fee will be credited, in full, against the Placement Fee.
A. Whether or not this Agreement has been terminated and whether or not funds are obtained from a Source, in addition to all fees, Client shall pay to IBC an amount equal to all IBCs out-of-pocket expenses incurred on behalf of Client - including without limitation photocopying, telephone, mailing and transportation expenses, and other similar expenses as determined by IBC in its reasonable discretion.
B. In the event funds, monies or property are made available to Client from a Possible Source, whether or not for the Project and directly attributable to the efforts of IBC, whether during the term of this Agreement or at any time thereafter, Client shall pay to IBC the sum of the following amounts (the Placement Fee):
5% of the first US$1,000,000.00 or its equivalent, plus,
4% of amounts in excess of US$1,000,000.00 and less than US$2,000,000.00 or their equivalents, plus,
3% of amounts in excess of US$2,000,000.00 and less than US$3,000,000.00 or their equivalents, plus,
2% of amounts in excess of US$3,000,000.00 and less than US$4,000,000.00 or their equivalents, plus,
1% of ALL amounts in excess of US$4,000,000.00 or its equivalent.
It is contemplated that the Placement Fee shall be paid at settlement for such funding out of the proceeds of such funding, and Client hereby authorizes and directs the provider of such funding and the agent holding settlement to disburse such Placement Fee, and all other fees and charges owing by Client to IBC and unpaid as of such date, directly to IBC in cash, by certified check, by wire transfer, or other medium agreed to by IBC.
In the event there shall be no settlement, the provider of such funds or the agent disbursing such funds is hereby authorized and directed to pay to IBC the Placement Fee when and as such funds are disbursed or otherwise made available to Client. The foregoing notwithstanding, the Client shall be obligated promptly to pay IBC the Placement Fee upon the availability of such Funds, even if such Placement Fees are not or may not be disbursed out of such Funds directly to IBC.
5. CLIENTS REPRESENTATIONS, WARRANTIES AND COVENANTS
A. Client shall comply with the registration and anti-fraud requirements of the securities laws of the United States and other jurisdictions whenever applicable for all funds, whether debt, equity or a combination or hybrid of debt and equity obtained from all Possible Sources,
B. Client shall indemnify, defend and hold IBC harmless from and against all cost, expense (including reasonable attorneys fees and litigation costs), liabilities and claims that IBC may incur on account of any information given, or incompletely given, by Client to a Possible Source, or arising out of any action or failure to act by Client,
C. Client covenants that it has full right and authority to release and disseminate all information provided to IBC or and to Possible Sources without the necessity of obtaining any persons permission that has not granted such permission in writing.
6. LIMITED OBLIGATION
A. IBC makes no representations and gives no assurances whatsoever regarding the availability of Funds or regarding the likelihood that any Possible Source may or may not have an interest in providing funds to Client,
B. IBC has made no investigation of the Possible Sources and thus makes no representations whatsoever regarding the creditworthiness, solvency, capability or motivations of any Possible Source, and Client hereby covenants to conduct its own investigation of all Possible Sources, and Client hereby releases IBC from any and all claims it may have for any actions taken or not taken by any Possible Source,
C. In no event will IBC promote or assist in the placement of any security issued, or to be issued, by Client or any affiliate of Client,
D. IBC shall have no obligation to engage attorneys, accountants, or other persons to represent Clients interests in connection with any agreements Client may reach with a Possible Source, nor shall IBC pay on Clients behalf any escrow, accounting, settlement, legal, appraisal, or other fees or charges incurred in connection with Clients obtaining funds. It is expressly agreed that Client shall engage, and pay, all attorneys, accountants, and other persons necessary or desirable to review or prepare all documents or proposals, and otherwise to protect or further Clients interest, with respect to which IBC disclaims any expertise and with respect to which IBC shall have no obligation,
E. Under no circumstances shall IBC be considered an agent, partner, joint venturer, or employee of Client, and Client shall make no representation or statement to the contrary. At all times, IBCs role shall be that of a finder only.
7. MISCELLANEOUS
A. This Agreement shall be governed by and construed in accordance with South Carolina law and it shall be deemed accepted and entered into at IBCs place of business on Hilton Head Island, South Carolina, U.S.A.,
B. Any controversy arising out of this Agreement shall be resolved under the rules of the American Arbitration Association and shall be arbitrated on Hilton Head Island, South Carolina, U.S.A.,
C. In no event shall IBC be liable for consequential or incidental damages suffered by Client arising out of or attributable to a breach by IBC of this Agreement, and under no circumstance shall IBCs liability to Client arising out of its performance under, or its breach of, this Agreement exceed the cumulative fees actually paid by Client to IBC hereunder,
D. This Agreement shall inure to the benefit of and be binding upon the parties and their respective successors, assigns, heirs and personal representatives,
E. This Agreement contains the entire agreement between the parties with respect to its terms and supersedes all prior and contemporaneous negotiations, agreements, and understandings. No person has any authority to make representations or covenants on IBCs behalf that are not contained herein,
F. All Clients representations, warranties, covenants, and obligations shall survive the execution, delivery and termination of this Agreement,
G. The undersigned individuals represent and warrant that they are authorized to execute this Agreement on behalf of Client and to perform obligations of Client hereunder,
H. If any provisions of this Agreement shall be unenforceable, void or contrary to the laws of any jurisdiction governing the performance by Client or IBC of their obligations hereunder, the remaining provisions shall not be affected or rendered void or unenforceable, and this Agreement shall be considered to consist solely of the provisions that are not unenforceable, void or contrary to law.
The Client certifies that the Client has carefully read and understands this entire Agreement and acknowledges each of the terms and conditions as contained herein.
The Client certifies that the Client has received a true copy of this entire and fully executed Agreement. INTERNATIONAL BUSINESS CONSULTING, INC.
In Witness Whereof, the parties have executed this Agreement as of the day and year first written.
____________________
Name of the Business
By: _____________________________________________
Attest: __________________________________________
Secretary
This is a copy of the contract... Please read it carefully as to note it is a lot of hot air and gaurentees NOTHING for th retainer fee you are to pay. Not only that but also it is a "RESTRICTED OFFER" it expires seven days from reciept, they need you to act fast so you have no time to reconsider. The money they request you to pay upfront has to BANK WIRED so you can not contest it later.
#10 Author of original report
PAUL TOMASI / INTERNATIONAL BUSINESS CONSULTING / CAVEAT EMPTOR/LET THE BUYER BEWARE
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Friday, March 07, 2008
The ancient Pagan Roman's conducted business with the motto of 'Let the buyer beware", (Caveat Emptor). And this applies today legally to commercial loans. The law assumes we in business are savvy to deal carefully with these loans. Most of us are not, and hence the advice and counsel of an excellent business lawyer and accountant is needed.
Regardless of the law, ethical business people try to practice 'do not put a stumbling block before the blind.' We are all blind when we step into a business arena in which we are unfamiliar. A good businessman tried to make everyone insightful. However, if he is a referral source, and given misinformation from his finder gatekeeper, and believes it, and passes it on, the rule of 'caveat emptor' applies even unwittingly.
Hence, please have a lawyer and accountant with you every step of the way.
#9 Author of original report
PAUL TOMASI / INTERNATIONAL BUSINESS CONSULTING / Structure Capital Solutions
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Friday, March 07, 2008
Structure Capital Solutions - Private Funding for Commercial Projects is Paul Tomasi of International Business Consulting's new referral source. Their web site states; "We have chosen our Gatekeeper because of their high success rate. The Gatekeeper has a 100% success rate, in that every Petitioner who pays a retainer fee has received at least one forward letter of commitment or equivalent." As discussed in our above posting, this forward letter of commitment is worthless unless your business plan has had a complete due diligence done on it by the funder, not a cursory review by the gatekeeper.
Ask if the gatekeeper has a 100% success rate in closings. Or what his success rate is. Ask for the names of some clients who have closed recently. If you are told, that laws disallow this revealing, ask for clients who got their money from USA or other banks not located in the few nations with strict banking laws. And if told, they cannot reveal them, ask them to contact them to ask them. if they would allow you to talk with them. In this age of difficulty in getting loans, anyone getting a loan would be happy to rave about a gatekeeper who helped them get funding.
#8 Author of original report
PAUL TOMASI / INTERNATIONAL BUSINESS CONSULTING / FINANCIAL PROCUREMENT AGREEMENT
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Friday, March 07, 2008
In any business contract there must be something called 'consideration' to make the contract valid. One party must give the other party something of value, and the other party must give the first party something of value. The contract agrees what this value and items are.
In Paul Tomasi of International Business Consulting's Financial Procurement Agreement one gives him a retainer fee, based on what the total loan they are seeking. In general terms it is one tenth of one percent of the loan. It is capped for loans above 100 million, and greater for loans less than 25 million. One also promises to give a percentage to him upon closing, which approximates to 1% for loans above 4 million. It runs higher for loans below 4 million.
Now, what does Paul Tomasi of International Business Consulting's Financial Procurement Agreement give for these fees. It says it will make a best faith effort to try to locate a possible funding source. Period.
What does this mean? Well it means he can email you a month from now and say he is sorry but he was unable to find you a possible funding source.
In reality, what happens, is that he does give you a possible funding source and the source goes a step further and gives you a Forward Letter of Commitment for Funding.
This sounds all well and good and hence has Paul Tomasi of International Business Consulting fulfil his contractual obligations.
But what did you actually get? You did not get a funder who has done due diligence on your business plan to the extent that he has agreed to fund you definitely. Many times you get another gatekeeper, who will, for another fee, attempt to find you funding through his connections. Since his agreement promised you nothing, what ever you get, is better than nothing, and one has no valid or legal complaints.
The only way to deal with Paul Tomasi of International Business Consulting's Financial Procurement Agreement is to have your attorney modify the contract to stipulate that with in 30 days or less, you will receive a definite funding source and a definite commitment for funding, or your retainer fee will be returned in full. Further, your attorney must make the contract state that if funding does not take place, Paul Tomasi of International Business Consulting will refund the fees paid to him in full.
____________________
PAUL TOMASI
#7 Author of original report
Leave Dr. alone
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Wednesday, March 05, 2008
" Doctor S____ has gone out of his way, being very ill, to help me in my funding process. He has given me 26 funding sources and advice re: funding, and avoiding future rip -offs. He has talked to me for an hour each a few times on the phone. And emailed me. As soon as he discovered Paul Tomasi was not what he was saying he was, Dr. S_______ stopped referring to him. Please, no one post anything negative about Dr. S ______ . He is a victim, as well, of a smooth con man. Thank you"
#6 Author of original report
PAUL TOMASI/ WWW.INTBUSCON.COM/IBC/INTERNATIONAL BUSINESS CONSULTING
AUTHOR: Pissed Off In Small Business - (U.S.A.)
SUBMITTED: Wednesday, March 05, 2008
I am not quite sure how the names of Paul Tomasi and his www.intbuscon.com was removed from this post, but the fact is people need to find this on the web searches as he hired a company to flood the web with all positive info on him and his company. They take fees and produce no results, leaving small business owners broke with no place to go
#5 Author of original report
IBC Hilton Head /JCA netherlands/ the story continues
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Tuesday, January 15, 2008
Both JCA and IBC are known fee scammers. In the past they have issued documents with conditions that just could not be fulfilled simply to gain fees. You should retain your documentation and seek the services of an investigative attorney, you should also report this to the local police at Hilton Island.
The fact you have a loan offer is no proof of intent to perform, the talk of gatekeepers etc simply refers to intermediaries.
The sad thing is that there exists a number of well known companies that make more money from fees than ever they would from lending and I include Kennedy Funding and Remington in this category as well as the out and out scammers such as British Petro Funds and associated sites, IBC and JCA. You should never have to pay an application fee if dealing with a lender unless that lender supplies an invoice on letter head and it is a direct lender. Normally such fees are payable on acceptance of an offer, again directly from the lender and never to an intermediary company or individual.
As a rule if fees are payable they are for the following pre submission work:
1. Preparation of Business Plans and supporting information.
2. Preparation of financial models for submission.
3. Legal opinions and investigations including government regulations on accepting foreign investments (India, china etc).
4. Consultancy fees. (usually charged by the hour when seeking Venture Capital or Capital Raising)
5. Preparation of contracts.(attorney fees)
6. Travel and costs of attending meetings with the applicant if necessary.
The most popular scam is due diligence fees and again this is a feasible charge but again it is only payable on acceptance of a loan contract directly from the lender and is payable directly to the lender.
If a Bank charges an application fee for commercial lending you should be able to view any such fees on the Banks Web site. If not then it is normally a scam.
I do hope that 2008 proves to be a better year for you. Please do not hesitate to contact me if you feel concerned about any other lenders, I have a large list of good lenders.
Best wishes
Graham
#4 Author of original report
International Business Consulting inc./ Paul Tomasi
AUTHOR: Pissed off in small business - (U.S.A.)
SUBMITTED: Tuesday, January 08, 2008
Well the story continues.......after more investgation and filing a complaint with SC consumer affairs { this is a business matter so they can not help } The president of this company PAUL TOMASI has retaliated with some nasty threats.
"2) you made a number of false statement(s) in your written complaint which if The State of South Carolina made a Public Record out of--which their paperwork to us stated they may--could affect International Business Consulting"
"WE ALSO HAD ANOTHER POSSIBLE SOURCE OF OURS' CONTACT YOU BUT EVENTUALLY DECLINED TO DO BUSINESS WITH YOU BECAUSE YOU HAD INITIALLY FAILED TO DISCLOSE YOUR CRIMINAL HISTORY. "
The criminal history he is refering to is 1 minor misdemeanor on my record
from 20 yr ago. That thay would not have known about but I disclosed it. Having a business that serves drinks, I and my husband have been background checked on more than 1 occation, including being finger printed to be cross ref. with the FBI data base. There is no real "criminal history" but that is beside the point. This man is trying to make this my fault for trying to achieve goals in my business.
"Furthermore, as you have made false statements to a governmental agency, (as I understand it a crime in and of itself--Purjury--which could land you personally in a prison for a long time), which they could make part of a Public Record we may not only refer this matter on to our lawyer but may also file a written Complaint against you with the State of Ohio."
"As a final note now that you have filed your above written Complaint with the State of South Carolina no one at International Business Consulting, Inc. will communicate with you or anyone else at ############ until you both write another letter to the State of South Carolina stating that International Business Consulting, Inc. did NOT in fact, "bugged out" as your Complaint to the State of South Carolina stated and you also have your lawyer write to us stating that ################## will not file any future false complaints with any governmental or other agencies mentioning our name"
The state of SC is sending me a hard copy of the complaint I filed when I get I will update this post. If my memory serves me correctly I made no false statements, I complained about what I felt was an attempt to fraud me out of my money.
This man is trying to tell me I have no right to complain???!!!##$$
and wants me to sign a paper saying I will not to ANY GOV AGENCY!?!
I thought this was America and we were allowed to complain or speak our mind?!?
"IF YOU WOULD LIKE TO KEEP THIS MATTER FROM GOING ANY FURTHER I VERY STRONGLY SUGGEST THAT IF YOU HAVE A LAWYER YOU HAVE THAT PERSON CONTACT ME WITHIN THE NEXT 72 HOURS. IF YOU DO NOT HAVE A LAWYER THEN I VERY STRONGLY SUGGEST THAT YOU PROVIDE ME WITH A COPY OF YOUR SECOND LETTER TO THE STATE OF SOUTH CAROLINA'S DEPARTMENT OF CONSUMER AFFAIRS APOLOGIZING FOR LYING TO THEM AND FOR MAKING FALSE STATEMENTS REGARDING INTERNATIONAL BUSINESS CONSULTING, INC. ALSO WITHIN THE NEXT 72 HOURS!"
Sincerely,
Paul Tomasi
President
INTERNATIONAL BUSINESS CONSULTING, Inc.
33 Office Park Road, Suite A-202
Hilton Head Island, South Carolina 29928
All of this over 1 complaint to an agency that can not do any thing about it any way.
Well the story goes on.......... Mr. Tomasi has his own public record, after more research we found this also.
After receiving his email of threats I went to the BBB and reported him there.
Then I called Hilton Head Islands business office to find out if this company even had a business licences in Hilton Head........and guess what lo and behold they have no file or record of this either.
All of this is a matter of PUBLIC information and can be found by any one looking, so there is no need to feel slandered.
I take the responsiblity for signing an agreement with this company, it is my own fault. Now with all of this being said I hope it helps someone else not to make the same mistakes this small business owner has.
These are all quotes pasted from his email to me.
All I want is my $25,000 back so I can actually pay my bills.
"Based at least upon the above we have absolutely no intention of even considering returning any part of the $25,000.00 Retainer Fee that you paid to us which has been fully earned."
"1) you did not contact me prior to filing your complaint telling me you were upset with what had taken place to date nor even asking us what all we had done for you,"
I did call and was spoken to harshly and as if I were a 2 year old, upon further investigation it was not only my self that had been dealt with this way, but many others as well. In a business of finance of this great magnitude you would expect better treatment by the individual that you paid $25,000 to.
"Paragraph "1" entitled "IBC'S SERVICES" which states:
"IBC shall disseminate information provided by Client regarding its funding needs for the Project to prospective sources of such Funds, ("Possible Sources"), and IBC, on a reasonable efforts basis only, shall attempt to introduce, refer, identify, or otherwise make known to Client the name, address and telephone number of one or more persons or entities.".
PLEASE NOTE THAT THE ABOVE IS THE TOTAL SERVICES THAT IBC LEGALLY AGREED TO PROVIDE YOU WITH WHICH WE DID WHEN WE HAD JOINT CAPITAL ASSISTANCE PROVIDE YOU WITH THEIR WRITTEN "LETTER OF INTENT" TO YOU--WHICH YOU HAVE SINCE CONFIRMED YOUR RECEIPT OF--DATED 30-10-07."
The company he is refering to is from the Netherlands and required another finders fee of $15,000 to place my company with a funder. And also another 3-5% off the back end. That is the same thing IBC does.
So the moral of this story is ............. DO NOT PAY UPFRONT FEES!!!!
$40,000 paid out....No funding......behind bills.........and no way to go to a traditional bank now.
Please if you are looking into this type of funding do your homework. There are plenty of places that will get you funding with no upfront fee's because they truley care about small business.
There is no easy, fast or large amounts of money for "Any viable business" as IBC web site states out there. the fact is this is a post mortgage time and times are tough ALL over.
#3 Consumer Comment
Dr. Segal is no longer doing business with IBC
AUTHOR: Sweet Treat - (U.S.A.)
SUBMITTED: Saturday, January 05, 2008
Dr. Segal has contacted this business owner in a attempt to make things right.
Dr. Segal did not take any money it is IBC that took the $25,000. Dr. Segal is now trying to help rectify this, and offering his help.
#2 Consumer Comment
Dr. Segal is currently helping
AUTHOR: Sweet Treat - (U.S.A.)
SUBMITTED: Saturday, January 05, 2008
Dr. Segal is helping this owner to rectify this situation. Dr. Segal did not take the money, IBC required the payment. Dr. Segal has severed his relationship with this company and is trying to help.
#1 UPDATE EX-employee responds
rebuttal
AUTHOR: Gobal Funding Network - (U.S.A.)
SUBMITTED: Saturday, January 05, 2008
Dear small business owner and those reading:
While it is easy to make accusations on the web and be anonymous, Global Funding Network has no record of any petitioner for funding from the town you mentioned.
Further at no time did GFN receive a dime from a petioner for funding. It mearly collects petition applications for funding and refers such onto finders of funding sources.
GFN gets is true pay day when a client of such funder closes.
GFN, when in existance, gave full and complete disclosure.
The finders that GFN refers petitioners too had a financial procurement agreement with the borrower, that GFN asked no less than 6 times, for each petitioner to have their lawyer and accountant read and negotiate with the finder.
There was no colusion between any finder and GFN.
90% of the time GFN worked with brokers of clients seeking funding are rarely directly with the client. Perhaps this is why the city that you mention is not registering. Did you have a broker?
These brokers all signed agreements stating that GFN does not warrent, or guarentee the finder, or their funding sources, and this was always told to every client. All clients and their brokers must do their due diligence on the finder, and the finders contract advises that all clients and brokers must do diligence on the funders.
Further, every finder, will refund any retainer paid in full to you, IF they did not perform, and find you a funding source. IF you think you have had money taken from you unethically, the contract with them calls for you simply to contact the American Arbitration Committee for a hearing.
In all cases if funding did not go thru, once a source was found, it is due to the clients fault, and usually because the client was untruthful to GFN or to the finder, and hid things (which GFN's web site begged them not to do.) Some of these things were being so poor, that they borrowed the retainer (which if GFN knew they were doing would have disqualified them from funding), because where would they get funds for the funder's due diligence fees, etc?
The reader needs to understand the most clients coming to web based funding sources, habe been rejected by banks and other sources, due to their being credit risks, due to past bankruptcies, criminal convictions, and the like.
GFN, due to Dr. Segal's health problems, has been taken over by CommFundingNet@aol.com and if anyone is having difficulty in funding, they will aid you, just as Dr. Segal would have.
At no time did this complaintant come to GFN and tell GFN of his problem or GFN would have interceeded on his behalf with the finder.
GFN goal was to sincerely help folks be referred to a finder of funds so that funding would occur.
For the record, alligations of alliases and moving around etc, are just false. GFN was a NJ corp (not located in SC), and a division of a professional corporation, founded in 1979 without, till today, a single complaint from a borrower.
Accusing GFN of taking your money, when you never wrote a check to GFN, as no petitioner has ever done so, is just a falsehood.
If you came to GFN with a complaint of paying the finder a retainer and not getting your funding source, GFN could have got you satisfaction with a phone call to the finder. GFN will NOT work with a finder who does not do what he says he will do.
While you may be unhappy with the finder, please do not lump GFN into the mix.
Contact CommFundingNet.com and see what can be done to aid you.
Happy New Year. Dr. Segal, retired, circa mid Nov 2007
January 5, 2008
Advertisers above have met our
strict standards for business conduct.