David Maiers, President of AMG Finance LLC in Nevada sent an email via his gmail account to our President CEO on January 02. He porpsed that he would lend his fund at 6.0% p.a. of whatever amount our business project requires. His proposition was the only fee that the borrower shall make prior and later of the loan disbursment was $2,860 and nothing else.
Since then a series of loan discussion started and the $2,860 was paid by our company on Jan. 19th 2018. Immediately afer the payment was made, David Maiers changed the way to negotiate about the loan term and conditions. He brought up numerous other upfront fees such as Insurace Fees, VAT Fees, Transfer Fees, etc. by keep telling that immediately after such fees are paid, he would deliver the promised loan fund immediately. While our company was seriously looking for a long term project finance, we reluctantly decided to pay such previously undisclosed fees and before the final loan agreement was concluded on 3/20, the total payment of upfront paid fees rose to $12,671.
After long disputes on the hidden fees and timing of fee payments made, the very final loan agreement was finalized and validated on 3/20 and it was expected the timely delivery of the loan fund on the same day 3/20. But it never occurred.
We started to complain against the lender, David Maiers for the non-delivery of the loan and claimed the default by lender. However, instead of expressing his apology, he started to argue about new fees such as closing fees, transfer fees, and additional VAT receip fees for totaling $4,650 must be paid prior to the final loan fund delivery to us. We all here know well such business conduct of upfront fee collection in regulated lending business is totally illegal and violation of regualtions. But, becasue of our urgent necessity to get the project funding completed, we reluctantly made payment of such last minute disclosed hidden fee for $4,650 on 4/05.
As of today, the loan has not been delivered to us. And still he is claiming that we must pay other upfront fees. At this time, we decised not to continue working with him as we don't see any professional legitimacy in his company and his quality as business professional.
The damage caused so far for past 4 months is uncountable not only in menetary loss but also the time and opprtunity costs all lost.
AMG Financial, LLC. Reviews
David Maiers, President of AMG Finance LLC in Nevada sent an email via his gmail account to our President CEO on January 02. He porpsed that he would lend his fund at 6.0% p.a. of whatever amount our business project requires. His proposition was the only fee that the borrower shall make prior and later of the loan disbursment was $2,860 and nothing else.
Since then a series of loan discussion started and the $2,860 was paid by our company on Jan. 19th 2018. Immediately afer the payment was made, David Maiers changed the way to negotiate about the loan term and conditions. He brought up numerous other upfront fees such as Insurace Fees, VAT Fees, Transfer Fees, etc. by keep telling that immediately after such fees are paid, he would deliver the promised loan fund immediately. While our company was seriously looking for a long term project finance, we reluctantly decided to pay such previously undisclosed fees and before the final loan agreement was concluded on 3/20, the total payment of upfront paid fees rose to $12,671.
After long disputes on the hidden fees and timing of fee payments made, the very final loan agreement was finalized and validated on 3/20 and it was expected the timely delivery of the loan fund on the same day 3/20. But it never occurred.
We started to complain against the lender, David Maiers for the non-delivery of the loan and claimed the default by lender. However, instead of expressing his apology, he started to argue about new fees such as closing fees, transfer fees, and additional VAT receip fees for totaling $4,650 must be paid prior to the final loan fund delivery to us. We all here know well such business conduct of upfront fee collection in regulated lending business is totally illegal and violation of regualtions. But, becasue of our urgent necessity to get the project funding completed, we reluctantly made payment of such last minute disclosed hidden fee for $4,650 on 4/05.
As of today, the loan has not been delivered to us. And still he is claiming that we must pay other upfront fees. At this time, we decised not to continue working with him as we don't see any professional legitimacy in his company and his quality as business professional.
The damage caused so far for past 4 months is uncountable not only in menetary loss but also the time and opprtunity costs all lost.