Funding Edge/Power2Fund – Pressured Into Bad Rate
The first representative that I spoke with required me to pay an upfront fee of $3,000. I told him that I would call back because I was unsure. When I did, I got a different representative on the line. She told me that I was only required to pay $2,000 to start. This was strange to me, but I was really looking forward to getting my funding so I went ahead with it anyway. | I was going to use it for a commercial property that I wanted to put my business in. The actual funding took too long to get to me and by then the property I wanted was already taken. I called them again to tell them that I would have to put things on hold.They said that they can’t do it. They would not work with me and I felt like I was being pressured into an even worse financial situation. | I finally got a place for my business 2 months later, but I was already having to pay the fees. After I put the funding towards the building, I was charged a higher interest rate. They did not communicate with me that their interest rates fluctuated. They said that it took me too long to use the funding which was cause for suspicion so my rate went up? Never heard of that, and I called them to let them know. They simply make things impossible to work around and they are a nightmare to work with.