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report scam| Country | United States |
| State | Arizona |
| City | Scottsdale |
| Address | 14614 N Kierland Blvd Suite N100 |
| Phone | (888) 758-8880 |
| Website | https://www.summitcommercialfinance.com |
Summit Commercial Finance Reviews
I suggest that you find another leasing company to do business OR give Summit Commercial Finance plenty of time to close your deal. Do not use this company unless deal closure time is not a concern.
Summit Commercial Finance and the President and CEO, Scott Forrest, lacked integrity in dealing with me and my company, and literally stole my deposit after I cancelled the lease due to Summit Commercial Finance's inability to close within a reasonable time frame.
Here are the details -
My company was in need of a truck before the end of the 2016 year. I was trying to take advantage of the IRS's Section 179. I started the application with Rick Gomba, Summit Commercial Finance. The transaction was approved on 12/2/2016, only a couple of days after the application. All seemed to be going fine. But then issues started to happen. Rick (although he's a very nice guy with good intentions) began making mistakes and got busy with other customers. Summit Commercial Finance seemed to "forget" how the deal was originally structured; “Was it a corp only, Was my personal security number needed, Do I need to sign with a personal guarantee"? These were questions asked by Mr. Gomba and I immediately (same day) provided answers to his questions. By the time he documented these answers, however, 5 days had past. Then Summit made a mistake on the calculation of the processing fee (which I found). It took another 5 days to get documents. Now we were up against the end of the year, and if I didn’t take advantage of Section 179, I would loose out on the depreciation advantage. I gave Rick a “must close by” date. Unfortunately, the date came and went and Summit was still asking for documents, like a copy of my driver’s license, etc. (things that should have been asked for days, if not weeks before hand). I then cancelled the lease. I wasn’t too concerned about the return of my deposit because I’m dealing with a reputable company, right?! Well, that’s when Rick changed from nice guy to not-so-nice guy. Rick told me that Summit would hold on to my funds because I cancelled the lease. My response; “Wait a minute…you guys couldn’t execute the lease and made mistakes, plus my money was used for a deposit. How can you just decide to keep my money?”. His response, "talk to my CEO, Scott Forrest”.
I contacted Mr. Forrest and asked for a return of my deposit since the lease had to be cancelled for poor performance by his firm. After a month of emailing Mr. Forrest he finally responded with "Summit performed on all areas of this transaction. The delays were not due to Summit. If you have any financing needs in the next six months we will apply your deposit towards a new agreement. If not the deposit will be retained by Summit to cover our expenses.”
I was absolutely floored. Did you take a second to call me? Did you ask me for my view on the matter? Did you even read the facts (I emailed a timeline to Rick Gomba, because I had a feeling that Summit Commercial Finance would attempt to hold my deposit). They never cared and took no ownership in their lack of process or standardize documentation, which would have prevented many of the repeated time delays.
So, there you have it. I cancelled the lease with Summit Commercial Finance because it took them weeks to get the deal done and the mistakes that they continued to make (BTW - my credit is about as perfect as you can get). They decided to hold on to my deposit because they felt like it and didn’t like the fact that I cancelled the lease. If they would have executed and closed the deal properly none of this would have happened. My advice to you is to seek to do business with a company that has a structured process in place. Transactional processes should be streamlined. Efficient. Correct. It should have few, if any, variances so that employees will know which documents to ask for so that they can close the deal correctly. If there are errors, own up to those errors and get them corrected in a timely manner. Don’t blame workload on your inability to close a deal or move a transaction forward. Be honest and don’t steal. Its against the law, and equally important, its not the right thing to do. Have integrity.
I hope this helps you.
Summit Commercial Finance, 14646 N. Kierland Blvd., Suite 130, Scottsdale, AZ 85254