ComplaintsforWisco Capital

• Initial Complaint

  04/02/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  This this a message from *********************, who claimed to be the owner."I just requested contracts and apparently you signed my contracts (In Advance) already with one of our brokers. That is who I fund all of my deal through, and I had informed you that we had received the application a few times. Anyway I need you to send an email to *********************** and let him know that you want to work exclusively with Wisco Capital, and you want to rescind the other offer even though you already signed contracts."I followed his instructions, and cancelled this funding deal minutes before receiving the funds, now I am not funded and this man cannot do the funding. I had coordinated this funding for 6 weeks to be used at the moment needed for our seasonal inventory. Now I am not funded, spent weeks dealing with the loan shark industry and now I am stuck loosing thousands per day.

  Business response

  04/04/2024

  THE BUSINESS OWNER *********************** APPLIED FOR FUNDING IN JANUARY 2024 AND THEN AGAIN IN MARCH 2024 FOR HIS BUSINESS: MACON SUSTAINABLE DEVELOPMENT CO LLC.

  ***** WAS APPROVED AND PRESENTED WITH OFFERS TO FUND HIS COMPANY. HE STATED HE WAS WAITING ON OFFERS FROM HIS BANK (TRUIST) AND DID NOT MAKE ANY COMMITMENT TO MOVE FORWARD WITH MY OFFER. MY AGENT *** AND I BOTH FOLLOWED UP AND WE PUT OUR BEST OFFERS FORWARD.

  AFTER SOME BACK AND FORTH NEGOTIATING HE ACCEPTED MY OFFER ON FRI*** 3/29 AT AROUND 10:30AM.

  WHEN I WENT TO ORDER CONTRACTS FROM THE LENDER THEY EXPLAINED ***** HAD SIGNED CONTRACTS THE *** BEFORE WITH ANOTHER BROKER. AT THAT POINT I EXPLAINED TO ***** WE WOULD LOSE THE DEAL, SO I OFFERED HIM A DISCOUNTED LOWER COST AND HE ACCEPTED OUR TERMS. AS PER THE LENDERS POLICY, THEY NEEDED HIM TO RESCIND THE OFFER FROM THE OTHER BROKER. ***** EMAILED THE LENDER RESCINDING THE OFFER, AND ASKED TO WORK WITH MY COMPANY.

  WHEN I FOLLOWED UP THE LENDER A COUPLE OF HOURS LATER THEY ADVISED ME THAT THEY WERE DECLINING THE FILE AND WOULD SEND THE MERCHANT AN ADVERSE NOTICE. 

  THIS WAS ON GOOD FRI*** 3/29 AT AROUND 12:00PM. I MADE AN EFFORT TO REACH OUT TO THE LENDER SEVERAL ****S, BUT THERE WAS NO ONE TO DISCUSS THIS MATTER WITH AT THE LENDERS OFFICES DUE TO IT BEING A HOLI*** WEEKEND. I INFORMED ***** THAT I WOULD DO EVERYTHING IN MY POWER TO SPEAK TO THE LENDER. AS I EXPLAINED TO ************ UTILIZE THE LENDER TO FUND AND I INVEST IN ALL OF OUR DEALS AND I WAS WILLING TO FUND MY PORTION. I HOPED MY RELATIONSHIP MIGHT HOLD SOME SWAY. I INFORMED ************ WOULD NOT LEAVE HIM IN THE ****** AND I ADVISED HIM A SECOND **** I WAS RUNNING INTO ISSUES AT AROUND 2PM. WE CLOSED EARLY FOR EASTER

  I RECONNETED WITH ***** ON MON*** 4/1, AND I SPELLED OUT EXACTLY WHAT I PROMISED TO DO AND I EXPLAINED THAT IT WAS GOING TO BE AN ISSUE MOST LIKELY CONVINCING THE LENDER TO REVERSE THE DECLINATION. 

  ***** HAD SIGNED CONTRACTS WITH ANOTHER BROKER AT THE **** HE REQUESTED CONTRACTS FROM ME. THE LENDER DECLINED THE FILE, AND ALTHOUGH I HAVE ALONGSTANDING RELATIONSHIP AND INVEST WITH THEM I COULD NOT GET THIS DECISION OVERTURNED.

  I OFFERED TO HELP HIM TRY TO GET THE FUNDING FROM ANOTHER LENDER BUT HE DID NOT TAKE ME UP ON THE GESTURE OF GOOD WILL 

  Customer response

  04/09/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  ********************* represented he owned the company, and that he was the actual funder of the loan approved, contracted and prepared to fund via a third party. As stated in the emails included, are the statements of ************** to reject the deal, provided the email address of the funding lender to me to and stated "I will fund the deal myself" 
  
  After agreeing to do this, ************* not only failed to provide funded but ceased communication. 
  
  ************** has lied to us:
  He stated he was the direct lender, he owned the company. Then tells me he is getting issues to get this funded, so clearly he was not the direct lender and he is not the owner as stated. ************* is brokering for other lenders, does not own the company and or is not a direct lender, some mixture of this is true or not.
  
  ************** as caused us damage, financial & in time:
  Month spent shopping a loan to strategize late March/Early April to purchase inventory for our business. Money is expensive and short-term, I need it working the second we are funded with a high-rate loan. ************** blantient lie has resulted in financial damages of over $30,000 in sales, in seasonal product that would have costs is $8,000. There are additional, including the delay on capital for our new dealership product line.
  
  ************** as screwed the pooch on this one!

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************
  
  
  
  
   
  

  Business response

  07/10/2024

  To the BBB

  I do not want to ignore these emails but I am no longer going to correspond with you *****. 
  

  This matter has been closed and resolved in my estimation after all of the correspondences back and forth. 
  

  To anyone who reads this and has doubts about Wisco Capital you can call me directly or email me anytime and speak with me and decide for yourself if you want to work with Wisco Capital  
  

  This will be my final response. 

  Customer response

  07/17/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  No, this issue is not resolved, Our business has suffered substantial harm due to the blantent lies made by *** ********************* of Wisco Capital, which they have yet to acknowledge. As a result, we cannot consider this matter closed, as it remains unresolved.

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************
  
  
  
  
   
  

• Initial Complaint

  03/22/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I have been working with ********************* and Wisco Capital for about a year a lead generator and Provider. I am telling my story so another company or person doesn't get victimized the way i did. We have a written contract for a revenue share of revenue generated from my marketing and labor. Over the last 12 months being naive about the business( I take responsibility) and was being "Mentored" By ********************* AND WISCO CAPITAL. i essentially supported their company for a year using the last of my personal savings. I never could i understand why i was never able to make money. Speaking to other industry people i began to get suspicious of the arrangement. Numbers and Percentages just didn't make sense. As we went on it was apparent that because of a month in the Hampton's on vacation he was not managing the company and kept insuring me everything was good. i kept bringing to his attention that certain employee was not doing his job but because he was away was in position to speak to the employee. After many conversations it was agreed that because of the mis haps he would pay for the marketing and loan the company 25k x 2 to make right of the situation. Unfortunately it ended up being a predatory Merchant Cash Advance that his company sells. I said i didn't want a Merchant Cash Advance, i just want you to share the risk and share the marketing cost, but he said don't worry its from our investor syndicates and we need to "make it look legit" its guaranteed since we have a contract and control of all my funds. As time went on and them not fulfilling their side of the agreement. ( I spent every ***** where it was suppose to and have an email confirming it from **************) Since i suspected foul play, by surprise, i asked for a screen shot of a commission statement. Well caught off guard ************* sent me a FAKE COMMISSION STATEMENT. This is CONFIRMED by multiple people, including the company used to fake. Trying to get a resolution but i am being bullied because they have mo

  Business response

  03/22/2022

  Who can I speak with about this matter. I have contacted my attorney. 

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩