Prime Capital Source, Inc

I was able to take my business into «the black» after the first year, but after operating for 2 years, I realized my growth was being hindered by a lack of liquid funds. My personal credit was fair, so I was skeptical about getting approved for much (or anything) since I only had a few good years in the books with my company. Bill at Prime Capital assured me that my businesses track-​record was more important, so I went for it. I’m happy to say that he is man of his word… Not that he promised me anything, but his hypothesis «if you will» was pretty accurate across the board.
This group is definitely reliable. If you’re running a profitable company, but need more operating capital like I did, PCS is a great choice.

Nothing said in Prime Capital’s ad is true. They say the business owner’s personal credit doesn’t matter, his BUSINESS scores are what counts; that is a lie. I applied for a loan with them so I know what I’m talking about.
I’ve owned a small business for almost 17 years and it’s consistently earned more than $ 400,000 a year over the last nine years – that was not easy to do during the recession. I got a fax from Prime Capital that read I’ve been pre-​screened and pre-​approved for a small business loan for $ 100,000 and the payment would be month-​to-​month. The timing of their offer was perfect because I had recently identified a new business opportunity but couldn’t quite swing the cash to jump on it.
The Prime Capital fax came from Jim so I called but I got a guy named Bill instead. Bill told me he could get my loan processed, the pre-​screened approval they advertised really was legitimate, and I had actually been pre-​approved for up to $ 100,000. His exact words were, «It’s not a gimmick, you are pre-​approved» even though I was only requesting $ 60,000.
Even better, Bill confirmed their loan program with month-​to-​month payments instead of making a payment every single day. I’ve heard about those daily payments and always felt that must be some kind of scam. What reputable company forces you to pay them every single day? Don’t they care whether or not you have enough cash flow to stay in business? Even the Mafia doesn’t make you pay them every single day.
My personal credit is so-​so. It’s not bad by any measure, but it’s not perfect either… but their ad said my PERSONAL credit doesn’t matter. My BUSINESS credit is what counts and Bill assured me that is the case. I sent him all my credit and bank information and two days later he told me I didn’t qualify for the monthly payment plan. He said I could still borrow the $ 60,000 but the payback amount would be nearly $ 78,000 and my payments would be every single week! I couldn’t believe his horrible «offer». Paying $ 18,000 to borrow $ 60,000 AND make payments every single week was an «offer» I thought was both insane and insulting! The interest rate (right around 30%) isn’t just sky high, it’s probably illegal.
He told me I didn’t qualify for the monthly payment they offer because of my personal credit score. That was confusing to me because when we first discussed a loan, he told me I was PRE-​APPROVED for a month-​to-​month payment plan AND my personal credit would not be a factor. So somewhere between our first and last loan discussion, Bill not only told me a GIGANTIC LIE, he’d wasted quite a bit of time for a VERY busy owner/​operator of a small company. I was extremely irritated with the entire misadventure… to say the least.
Needless to say I didn’t accept Prime Capital’s offer. Their insulting «offer» was just like the classic «bait and switch» swindle that crooks have used forever. If you ever come across any advertisements from Prime Capital, do yourself a favor and throw them away.