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Crestview financial is a predatory lending Institution. Crestview financial/inadvance manipulates the laws by requiring small struggling businesses to sign a confession of judgment as a requirement for getting the merchant cash advance. After paying first loan 3 months ahead of schedule they rewarded me with a renewal rate of 7% points higher than first. Inadvance
then added 20k of fees from first loan into 2nd loan plus 30k more fees for 2nd loan. I netted 32k upon renewal with a payback 115k. Even though i paid them 70k in a 3 month period they refused to reduce the rate knowing 28% was not sustainable and would put me out of business. They charge up to 300% interest on these loans When i tried to re negotiate the terms to keep from going out of business they refuse they simply taking this COJ to the court and get a UCC lien against your business then they freeze your bank account. Luckily for me I put all my money in money orders except for 3k and I put it in the safe for the day when they were willing to negotiate. Three months went by they froze my business account but the were unable to get any money. I subsequently was able to negotiate a settlement of 25k. Now I'm one of the lucky ones. Of you Google COJ there will be stories of business owners committing suicide . Just imagine out the blue you not being able to pay employees vendors and bills because business bank has been abruptly from.
DO NOT DO business with these people they are very DISHONEST. Thier only mission is to put small businesses out of business not help small businesses.
then added 20k of fees from first loan into 2nd loan plus 30k more fees for 2nd loan. I netted 32k upon renewal with a payback 115k. Even though i paid them 70k in a 3 month period they refused to reduce the rate knowing 28% was not sustainable and would put me out of business. They charge up to 300% interest on these loans When i tried to re negotiate the terms to keep from going out of business they refuse they simply taking this COJ to the court and get a UCC lien against your business then they freeze your bank account. Luckily for me I put all my money in money orders except for 3k and I put it in the safe for the day when they were willing to negotiate. Three months went by they froze my business account but the were unable to get any money. I subsequently was able to negotiate a settlement of 25k. Now I'm one of the lucky ones. Of you Google COJ there will be stories of business owners committing suicide . Just imagine out the blue you not being able to pay employees vendors and bills because business bank has been abruptly from.
DO NOT DO business with these people they are very DISHONEST. Thier only mission is to put small businesses out of business not help small businesses.
