We financed a commercial loan through Ascentium Capital earlier this year and it was a HUGE MISTAKE. My husband was in a hurry to purchase a newer truck for our business, as ours was no longer in working condition, and a loan broker who was referred to us through the company we purchased the truck from, established a loan for us with Ascentium. My husband had me e-mail over the paper work, but little did I know until after I sent it over that he was so anxious to buy the truck that he hadn't reviewed all of the details in the documents. Come to find out, THE LOAN AMOUNT AND INTEREST RATE WERE NO WHERE TO BE FOUND in the documents he signed! When I contacted Ascentium to find out our interest rate, they wouldn't tell me what it was... they said I needed to contact the broker. This did not make any sense to me whatsoever as they are the one carrying our loan. When I contacted the broker, he explained that he "didn't know what it was and that he would need to do some calculations and get back to me."
After numerous unreturned phone calls, he finally called me back and told me our interest rate was 11.25%!!! We have 3 other commercial loans and they are all around 6% and our personal loans are around 3%, so you can imagine how shocked we were to find this out. We will be paying $9,426 in interest on a $37,950 loan! That's about 25% of the loan amount!!! To make matters worse, I asked for an amortization schedule, and again, Ascentium Captial shut me down and told me I would have to get it from the broker. The broker never sent me the amortization schedule after numerous promises... the last time I spoke with him, he told me he had already sent it, so I asked him to re-send it, and he said he couldn't because he "shredded it." If you e-mail someone something though, it stays in your outbox and he could have easily re-sent it, so he was obviously lying to me.
It turns out that Ascentium wouldn't give me an amortization schedule because to my surprise, they don't provide simple interest loans... they use a 3% present value discount method to determine pay-offs! Apparently this means that if we want to pay the loan off early, we will have to pay all of the interest for the term of the loan as well. This information was also nowhere to be found in our loan documents.
I also discovered that our loan is for $356.80 more than what it is supposed to be for. When I called Ascentium to find out why, the employee could not figure it out so he said he would need to check with someone. When he called me back, his exact words were that he was "ADVISED to tell me that it was a title fee," but WE personally paid a title fee (and I have a receipt to prove it) when we paid for the registration and plates for the vehicle. I wouldn't be surprised if Ascentium is laundering money from customer's loans. Something is definitely not right with the way this company does business. I contacted a law firm who reviewed our loan documents and said we definitely have a case but we cannot afford the $2,500 retainer it takes to get started. It makes me so sad that there are companies out there like Ascentium who are willing to take advantage of hard working individuals like my husband and I. I am a school teacher, currently staying home with our 9 month old baby girl, and my husband is working so hard and so much to make it possible for me to spend these precious moments with her, and then there's Ascentium trying to rip us off. How unfortunate that they take advantage of small business owners trying so hard to stay afloat. We even paid them a $345 documentation fee!!! I'm wondering what that went towards as we obvious do not have the proper documents for a loan. My only hope is that this doesn't happen to someone else.
Ann Feuerstein came to our office promising far lower prices than our current provider with a new wireless machine she claimed was at no cost to us, glorified the wave it program that would add 3% to our customers bill and eliminate all fees for us. I repeatedly asked her if she was having us sign any long term contract as i was not comfortable doing so, since our business had only just opened a few months prior. She assured me time and time again theres no strings attatched if we decided we didnt like it all we would have to do is call the 1800 number and theyd give us the shipping details to send the equipment back.
This couldnt be any farther from the truth! After deciding to continue business with our prior merchant service company, I called to get the info to send back the equiptment and let them know we no longer needed their services I was told that we were in a 48 month contract and it would cost almost 5000.00 plus a ton of other cancellation fees on top of that, then i reached out through email to the reps superior and was flabbergasted by how rude and unbusiness like he responded to me in his emails. Eventually after going rounds through emails and phone calls for weeks to no avail, he let me in on the fact that it isnt even his company that deals with the leasing, it was Ascentium Capital! Talk about a complete waste of time!
I called Ascentium Capital and again was met with a cold, callous rep who was unwavering and had no regard for the fact we were tricked into signing the 48 month lease. We are going to use their machine because we are being forced to pay for it but I want other businesses to know these companies are scamming people!! Once our contract is up I will NEVER use any of these companies again!
TruBlue Pay and Ascentium Capital tricked my company into signing a 4 year lease on useless equipment that we will do nothing with. They came in offering a stellar percentage rate on credit processing, and basically just had me sign a 25 page agreement that makes everything appear above board, but has hundreds of caveats and added fees.
By the time this is over, we will have spent over $10,000 on these disgusting scammers, with nothing to show for it. We are bound by a '4-year non-cancellable lease,' and even though it turned out to be a complete scam, we will continue paying. TruBlu is the one that contacted us, and they are the only ones I ever spoke with, but they said the lease we were signing was with First Data (Clover), and it even states that on the lease agreement line.
Ascentium Capital is tucked neatly into some of the fine print, I guess, although the lease is impossible to understand. Trying to get out from under the remaining $7,000, and make an agreement to pay any lump sum below that, I finally was able to reach someone today and she told me that their only options are to continue paying monthly, or to pay off the complete lump sum. I'm not sure where to go from here.
I borrowed $47,000 from ASCENTIUM CAPITAL to purchase an LED Road Sign. I authorized ASCENTIUM CAPITAL to pay the Vendor (Complete Signs, Dothan, Al) 1/2 of the amount of the loan. The agreement with the sign company is 1/2 down and 1/2 when the sign is installed.
Abruptly, without warning, ASCENTIUM CAPITAL disbursed the full amount of the loan proceeds to the SIGN company BEFORE the sign company began work. ASCENTIUM CAPITAL disbursed the full amount of the loan to make certain that the loan closed at the full $47,000. So I am left with owing $47,000 to Ascentium Capital, no money in my LOAN account and the Sign Company has been paid in FULL before the Sign Company even started work.
The vendor (Complete Signs, Dothan, Al.) took all the money ASCENTIUM CAPITAL paid and never preformed. To date, after over a year, the sign is still not installed. Because ASCENTIUM CAPITAL paid the Vendor ALL the money UP FRONT I have no leverage to induce the Sign company to deliver the sign. Short of litigation, that is. Because ASCENTIUM CAPITAL created the nightmare, I ask for their help, Ascentium Capital offered nothing.
I ask Ascentium Capital to replace the funds that they should not have removed, and Ascentium Capital offered nothing. They told me that if I miss a payment they will foreclose my loan , file a lawsuit against me and ruin my credit. So, for over a year I have been without $47,000, without my LED Sign and having to make monthly payments to ASCENTIUM CAPITAL of almost $1,100.
Plus ....Get this....ASCENTIUM CAPITAL required me to purchase insurance on the Loan. The insurance coverage does not begin until the sign is installed. I have been paying the MANDATORY insurance premiums for a year without any coverage. ASCENTIUM CAPITAL’s requirement for allowing the loan. Go figure. Allegedly, if ASCENTIUM CAPITAL is not the definition of crooked, bullying, unfair financial practices, predatory lending thieves, what is?
I am asking the public your opinion not accusing ASCENTIUM CAPITAL. BE CERTAIN THAT YOU UNDERSTAND ASCENTIUM CAPITAL HAS DISMISSED ME AS the POOR CUSTOMER THAT I AM. I have not yet found any support from the numerous government agencies I have contacted. No help from the Attorney General of Florida. I once believed in her credibility and her promise to help citizens, especially senior citizens Like me.
Card services provider MerchantLynx approach us and said if we switch to their services, from my previos vendor the equipment will be provided free of charge with no leasing commitment. There was no contract signed for equipment leasing at that time. Monthly payments started showing up on bank statements.
Called my Bank and eventually obtained details of a lease for 48 months. Never got copy of the lease until six months later with the starting date but Esigned with my name on it. Company pleaded ignorance and said I must pay for terminal lease. The salesman lied to me and never gave me a signed copy of the contract until I requested it from the company.
There must be complaints about this company Ascentium Capital LLC . If there is a class action lawsuit please let us know who the Plaintiffs are
We took out a loan with Mt. Pleasant which is now owned by Ascentium Capital. They held several of our properties as collateral and when the loan was paid off two years ago, they released all but two of the liens. We are closing on another loan in a week and a month ago realized that Ascentium had not done their job two years ago and requested they release the other two property liens. I called again today and they released one last week and just released the other one this morning. Neither of which are recorded and useless. Because Ascentium didn't do their job two years ago or a month ago, we cannot close. NEVER EVER USE ASCENTIUM CAPITAL LLC (OUT OF TEXAS) FOR ANY LOAN EVER!!! YOU WILL BE SORRY AND WILL END UP DOING THEIR JOB WITH HEARTACHE AND HEADACHES FOR MONTHS!!!
Acsentium Capital intimidated me , bullied me for there money, I am a small business , I requested for Ascentium Capital to pick up there Ice machine that didnt work properly to make the money in order to pay the loan payment, I was told that this machine would make the payment money in two weeks, and the machine keep breaking and the company could monitor the machine functions by there internet system. So there the company was aware of the machine not working, and they would not come out to repair there corrupted equipment.
Ascentium Capital pick up the ice machine after I requested for them to pick up the machine, and then they sold the machine for 1/8 of the amount that they still want me to repay to Acsentium Capital. Ascentium Capital filed an judgement against me in Texas, and Splish Splash Laundry IS NOT located in Texas nor never did business in Texas, Splish Splash Laundry is a small business located in NC. I would like to included in the class action suit against Acsentium Capital.
Ascentium Capital, Tom Depping & Cliff McKenzie participated in a fraudulant and deceptive financing program of 3 iPads and software to over 200 physicians across the U.S. for $400,000 each at 24% interest. The loan amounts and the interest were never represented by Ascentium to the doctors, and most of the physicians never received the items financed as well. Ascentium began calling the physicians for collections and threatened to harm the credit of these doctors. Tom Depping and Cliff McKenzie were employed by Ascentium Capital while pursuing additional financing from other lenders for this program, while Ascentium Capital continued to finance a program that they knew was failing. STAY AWAY FROM ASCENTIUM CAPITAL!!!
DO NOT SUBMIT ANY OF YOUR CLIENTS FILES TO ASCENTIUM CAPITAL https://ascentiumcapital.com/. They have a section for you to register as a broker then when you do and submit files they will tell you that they don't pay brokers and that they will issue your client a funding contract but won't fund the deal unless your client pays you your commissions first then they will fund the deal which is complete bs because i did this and they funded one of my clients deals before I could get paid and now having to chase this client to get my money that im rightfully owed but I know I will NEVER get!! You have been warned stay away from this company!! Furthermore that advertise a pplication only program up to $250k which is a complete lie!! You will submit the app and then they will come up with excuses and ask for more information.
Howard M. Schwartz of Land O' Lakes FL has been the Vice President of Business Development at Ascentium Capital since 2012, I have an Income Deduction Order from the Lake County Court in Fl to garnish Schwartz's wages for Alimony and child support. Schwartz is currently $365,000 in arrears for back alimony and $95,00.00 in arrears for back child support. When the order to garnish his wages went into effect his income at Ascenitum dramatically decreased from almost $200,000 a year to less than $24,000 a year reducing payments to one fifth of the court ordered amount. I am now within days of being evicted from my home and our daughter will be forced to leave college at the end of the semester as I will be unable to pay her tuition. Tuition which her father is supposed to contribute 50% of the costs and has so far contributed zero.
It is my belief that someone at Ascentium Capital knows how Howard Schwartz is circumventing the IDO. Business at Ascentium Capital has only increased over the last four years according to their own press releases and there is no logical reason for Schwartz's income to have decreased so drastically right after the court order went into effect. Schwartz continues to live a lavish life style in a 5 bedroom 3 bathroom home while traveling often and is able to make payments on multiple luxury vehicles all while claiming he is only keeping two hundred dollars a month from his earnings.
If you have recently signed a lease for equipment with Howard Schwartz either as an Ascentium employee or another business name he may be using and/or as an independent lease broker please leave an anonymous tip in the rebuttal section and let us know what business name he is doing business under and where he booked your lease, whether at Ascentium Capital or another funding source.
If you are an employee at Ascentium Capital and have inside information about how Schwartz is booking leases for Ascentium or another company outside the garnishment order or if he is working as an independent lease broker or under another business name PLEASE blow the whistle by leaving a tip in the rebuttal section.
Ascentium Capital LLC Reviews
We financed a commercial loan through Ascentium Capital earlier this year and it was a HUGE MISTAKE. My husband was in a hurry to purchase a newer truck for our business, as ours was no longer in working condition, and a loan broker who was referred to us through the company we purchased the truck from, established a loan for us with Ascentium. My husband had me e-mail over the paper work, but little did I know until after I sent it over that he was so anxious to buy the truck that he hadn't reviewed all of the details in the documents. Come to find out, THE LOAN AMOUNT AND INTEREST RATE WERE NO WHERE TO BE FOUND in the documents he signed! When I contacted Ascentium to find out our interest rate, they wouldn't tell me what it was... they said I needed to contact the broker. This did not make any sense to me whatsoever as they are the one carrying our loan. When I contacted the broker, he explained that he "didn't know what it was and that he would need to do some calculations and get back to me."
After numerous unreturned phone calls, he finally called me back and told me our interest rate was 11.25%!!! We have 3 other commercial loans and they are all around 6% and our personal loans are around 3%, so you can imagine how shocked we were to find this out. We will be paying $9,426 in interest on a $37,950 loan! That's about 25% of the loan amount!!! To make matters worse, I asked for an amortization schedule, and again, Ascentium Captial shut me down and told me I would have to get it from the broker. The broker never sent me the amortization schedule after numerous promises... the last time I spoke with him, he told me he had already sent it, so I asked him to re-send it, and he said he couldn't because he "shredded it." If you e-mail someone something though, it stays in your outbox and he could have easily re-sent it, so he was obviously lying to me.
It turns out that Ascentium wouldn't give me an amortization schedule because to my surprise, they don't provide simple interest loans... they use a 3% present value discount method to determine pay-offs! Apparently this means that if we want to pay the loan off early, we will have to pay all of the interest for the term of the loan as well. This information was also nowhere to be found in our loan documents.
I also discovered that our loan is for $356.80 more than what it is supposed to be for. When I called Ascentium to find out why, the employee could not figure it out so he said he would need to check with someone. When he called me back, his exact words were that he was "ADVISED to tell me that it was a title fee," but WE personally paid a title fee (and I have a receipt to prove it) when we paid for the registration and plates for the vehicle. I wouldn't be surprised if Ascentium is laundering money from customer's loans. Something is definitely not right with the way this company does business. I contacted a law firm who reviewed our loan documents and said we definitely have a case but we cannot afford the $2,500 retainer it takes to get started. It makes me so sad that there are companies out there like Ascentium who are willing to take advantage of hard working individuals like my husband and I. I am a school teacher, currently staying home with our 9 month old baby girl, and my husband is working so hard and so much to make it possible for me to spend these precious moments with her, and then there's Ascentium trying to rip us off. How unfortunate that they take advantage of small business owners trying so hard to stay afloat. We even paid them a $345 documentation fee!!! I'm wondering what that went towards as we obvious do not have the proper documents for a loan. My only hope is that this doesn't happen to someone else.
Ann Feuerstein came to our office promising far lower prices than our current provider with a new wireless machine she claimed was at no cost to us, glorified the wave it program that would add 3% to our customers bill and eliminate all fees for us. I repeatedly asked her if she was having us sign any long term contract as i was not comfortable doing so, since our business had only just opened a few months prior. She assured me time and time again theres no strings attatched if we decided we didnt like it all we would have to do is call the 1800 number and theyd give us the shipping details to send the equipment back.
This couldnt be any farther from the truth! After deciding to continue business with our prior merchant service company, I called to get the info to send back the equiptment and let them know we no longer needed their services I was told that we were in a 48 month contract and it would cost almost 5000.00 plus a ton of other cancellation fees on top of that, then i reached out through email to the reps superior and was flabbergasted by how rude and unbusiness like he responded to me in his emails. Eventually after going rounds through emails and phone calls for weeks to no avail, he let me in on the fact that it isnt even his company that deals with the leasing, it was Ascentium Capital! Talk about a complete waste of time!
I called Ascentium Capital and again was met with a cold, callous rep who was unwavering and had no regard for the fact we were tricked into signing the 48 month lease. We are going to use their machine because we are being forced to pay for it but I want other businesses to know these companies are scamming people!! Once our contract is up I will NEVER use any of these companies again!
TruBlue Pay and Ascentium Capital tricked my company into signing a 4 year lease on useless equipment that we will do nothing with. They came in offering a stellar percentage rate on credit processing, and basically just had me sign a 25 page agreement that makes everything appear above board, but has hundreds of caveats and added fees.
By the time this is over, we will have spent over $10,000 on these disgusting scammers, with nothing to show for it. We are bound by a '4-year non-cancellable lease,' and even though it turned out to be a complete scam, we will continue paying. TruBlu is the one that contacted us, and they are the only ones I ever spoke with, but they said the lease we were signing was with First Data (Clover), and it even states that on the lease agreement line.
Ascentium Capital is tucked neatly into some of the fine print, I guess, although the lease is impossible to understand. Trying to get out from under the remaining $7,000, and make an agreement to pay any lump sum below that, I finally was able to reach someone today and she told me that their only options are to continue paying monthly, or to pay off the complete lump sum. I'm not sure where to go from here.
I borrowed $47,000 from ASCENTIUM CAPITAL to purchase an LED Road Sign. I authorized ASCENTIUM CAPITAL to pay the Vendor (Complete Signs, Dothan, Al) 1/2 of the amount of the loan. The agreement with the sign company is 1/2 down and 1/2 when the sign is installed.
Abruptly, without warning, ASCENTIUM CAPITAL disbursed the full amount of the loan proceeds to the SIGN company BEFORE the sign company began work. ASCENTIUM CAPITAL disbursed the full amount of the loan to make certain that the loan closed at the full $47,000. So I am left with owing $47,000 to Ascentium Capital, no money in my LOAN account and the Sign Company has been paid in FULL before the Sign Company even started work.
The vendor (Complete Signs, Dothan, Al.) took all the money ASCENTIUM CAPITAL paid and never preformed. To date, after over a year, the sign is still not installed. Because ASCENTIUM CAPITAL paid the Vendor ALL the money UP FRONT I have no leverage to induce the Sign company to deliver the sign. Short of litigation, that is. Because ASCENTIUM CAPITAL created the nightmare, I ask for their help, Ascentium Capital offered nothing.
I ask Ascentium Capital to replace the funds that they should not have removed, and Ascentium Capital offered nothing. They told me that if I miss a payment they will foreclose my loan , file a lawsuit against me and ruin my credit. So, for over a year I have been without $47,000, without my LED Sign and having to make monthly payments to ASCENTIUM CAPITAL of almost $1,100.
Plus ....Get this....ASCENTIUM CAPITAL required me to purchase insurance on the Loan. The insurance coverage does not begin until the sign is installed. I have been paying the MANDATORY insurance premiums for a year without any coverage. ASCENTIUM CAPITAL’s requirement for allowing the loan. Go figure. Allegedly, if ASCENTIUM CAPITAL is not the definition of crooked, bullying, unfair financial practices, predatory lending thieves, what is?
I am asking the public your opinion not accusing ASCENTIUM CAPITAL. BE CERTAIN THAT YOU UNDERSTAND ASCENTIUM CAPITAL HAS DISMISSED ME AS the POOR CUSTOMER THAT I AM. I have not yet found any support from the numerous government agencies I have contacted. No help from the Attorney General of Florida. I once believed in her credibility and her promise to help citizens, especially senior citizens Like me.
Card services provider MerchantLynx approach us and said if we switch to their services, from my previos vendor the equipment will be provided free of charge with no leasing commitment. There was no contract signed for equipment leasing at that time. Monthly payments started showing up on bank statements.
Called my Bank and eventually obtained details of a lease for 48 months. Never got copy of the lease until six months later with the starting date but Esigned with my name on it. Company pleaded ignorance and said I must pay for terminal lease. The salesman lied to me and never gave me a signed copy of the contract until I requested it from the company.
There must be complaints about this company Ascentium Capital LLC . If there is a class action lawsuit please let us know who the Plaintiffs are
We took out a loan with Mt. Pleasant which is now owned by Ascentium Capital. They held several of our properties as collateral and when the loan was paid off two years ago, they released all but two of the liens. We are closing on another loan in a week and a month ago realized that Ascentium had not done their job two years ago and requested they release the other two property liens. I called again today and they released one last week and just released the other one this morning. Neither of which are recorded and useless. Because Ascentium didn't do their job two years ago or a month ago, we cannot close. NEVER EVER USE ASCENTIUM CAPITAL LLC (OUT OF TEXAS) FOR ANY LOAN EVER!!! YOU WILL BE SORRY AND WILL END UP DOING THEIR JOB WITH HEARTACHE AND HEADACHES FOR MONTHS!!!
Acsentium Capital intimidated me , bullied me for there money, I am a small business , I requested for Ascentium Capital to pick up there Ice machine that didnt work properly to make the money in order to pay the loan payment, I was told that this machine would make the payment money in two weeks, and the machine keep breaking and the company could monitor the machine functions by there internet system. So there the company was aware of the machine not working, and they would not come out to repair there corrupted equipment.
Ascentium Capital pick up the ice machine after I requested for them to pick up the machine, and then they sold the machine for 1/8 of the amount that they still want me to repay to Acsentium Capital. Ascentium Capital filed an judgement against me in Texas, and Splish Splash Laundry IS NOT located in Texas nor never did business in Texas, Splish Splash Laundry is a small business located in NC. I would like to included in the class action suit against Acsentium Capital.
Ascentium Capital, Tom Depping & Cliff McKenzie participated in a fraudulant and deceptive financing program of 3 iPads and software to over 200 physicians across the U.S. for $400,000 each at 24% interest. The loan amounts and the interest were never represented by Ascentium to the doctors, and most of the physicians never received the items financed as well. Ascentium began calling the physicians for collections and threatened to harm the credit of these doctors. Tom Depping and Cliff McKenzie were employed by Ascentium Capital while pursuing additional financing from other lenders for this program, while Ascentium Capital continued to finance a program that they knew was failing. STAY AWAY FROM ASCENTIUM CAPITAL!!!
DO NOT SUBMIT ANY OF YOUR CLIENTS FILES TO ASCENTIUM CAPITAL https://ascentiumcapital.com/. They have a section for you to register as a broker then when you do and submit files they will tell you that they don't pay brokers and that they will issue your client a funding contract but won't fund the deal unless your client pays you your commissions first then they will fund the deal which is complete bs because i did this and they funded one of my clients deals before I could get paid and now having to chase this client to get my money that im rightfully owed but I know I will NEVER get!! You have been warned stay away from this company!! Furthermore that advertise a pplication only program up to $250k which is a complete lie!! You will submit the app and then they will come up with excuses and ask for more information.
Howard M. Schwartz of Land O' Lakes FL has been the Vice President of Business Development at Ascentium Capital since 2012, I have an Income Deduction Order from the Lake County Court in Fl to garnish Schwartz's wages for Alimony and child support. Schwartz is currently $365,000 in arrears for back alimony and $95,00.00 in arrears for back child support. When the order to garnish his wages went into effect his income at Ascenitum dramatically decreased from almost $200,000 a year to less than $24,000 a year reducing payments to one fifth of the court ordered amount. I am now within days of being evicted from my home and our daughter will be forced to leave college at the end of the semester as I will be unable to pay her tuition. Tuition which her father is supposed to contribute 50% of the costs and has so far contributed zero.
It is my belief that someone at Ascentium Capital knows how Howard Schwartz is circumventing the IDO. Business at Ascentium Capital has only increased over the last four years according to their own press releases and there is no logical reason for Schwartz's income to have decreased so drastically right after the court order went into effect. Schwartz continues to live a lavish life style in a 5 bedroom 3 bathroom home while traveling often and is able to make payments on multiple luxury vehicles all while claiming he is only keeping two hundred dollars a month from his earnings.
If you have recently signed a lease for equipment with Howard Schwartz either as an Ascentium employee or another business name he may be using and/or as an independent lease broker please leave an anonymous tip in the rebuttal section and let us know what business name he is doing business under and where he booked your lease, whether at Ascentium Capital or another funding source.
If you are an employee at Ascentium Capital and have inside information about how Schwartz is booking leases for Ascentium or another company outside the garnishment order or if he is working as an independent lease broker or under another business name PLEASE blow the whistle by leaving a tip in the rebuttal section.