BFA Business CapitalReviews of bfa.business

I started this process a month ago for an SBA loan and the process seemed normal at the start getting all my info into their representative but for the last several weeks there has been no communication with my rep Nick Said and when I leave a message on the business line it only takes messages, leave your number and we will call you back, never happens. Very disappointed with the lack of communication !!

**"My experience with BFA Capital on the SBA loan process was extremely frustrating. After five months of continuous paperwork, delays, and excuses, I had nothing to show for it. Communication was poor, and every step felt like I was being strung along with empty promises. Nick Said and Raymond, in particular, were unreliable and evasive. If you're looking for real results, I would strongly advise taking your business elsewhere. Don’t waste your time with this company.

Before you decide to use BFA I would strongly advise you to look elsewhere, maybe even sell a kidney on the black market. You would have better results. We have used BFA along with Nick Said for a SBA and that was strung out so long that I started to believe it was a scam. We were passed around to multiple different people, things were lost, duplicated and even triple sending of documents took place. Finally it was completed but it took 3 months (April 1 to June 30th) to complete, but not by BFA. It was another company “Newity” and I’m not sure why it was passed off, but I would just skip the middle man and go directly to Newity. Now fast fwd 3 more months we received an e-mail from Nick with a pitch for a 12 mo 0% business LOC thru Chase Bank, so I thought we would take advantage of this. So, after we were told (in e-mail & text which I can provide) that our business was approved for the zero % Line of credit (it’s now going on 2 months) we still have yet to get anywhere with it other than the run around. Now after a phone call to Chase I was told that Chase has NEVER offered a LOC with 12 mo zero % terms and that a 3rd party cannot set this up and I would have had to be applying for a LOC in a Chase Bank branch in person. Very frustrating and the level of professionalism is (in my opinion) that of a scam being run out of their mother’s basement.

Unprofessional. Run. Learn from my experience. Find a more reputable company that really cares about helping you and will do their jobs to help your business. I have been falsely mislead. Mr. Nick Said, Business Relationship Manager, told me my company is approved for an SBA loan and that things will take 4-6 weeks to close. Now it is 3-4 months later. He does not respond to emails or phone calls. He sat on my file. In the meantime, my credit score went from excellent over 700 to fair in the 650s, while my business is already struggling which is why I came to them for help in the first place. Now all of a sudden, I am are no longer approved because my change in credit score. Cowardly, he rejects phone calls and has not responded to emails. He told me this by text message that I am no longer approved any longer and their “sorry”.

I worked with Nick with my ERC refund and it was the absolute worst experience ever. He told me what I needed to hear to secure my business and I was told they would not take funds out of my account before the funds hit. BFA did the complete opposite and pulled the funds out and left my company in a bind. I called and they admitted they told me they wouldn’t and would return the funds immediately. They have made multiple promises they would correct it and keep telling me a different story. I spoke with Nicks supervisor prior to closing the deal with them and he assured me the same thing. They are now ignoring my calls, I have not received a refund and have told me multiple lies. I HIGHLY suggest not doing business with BFA and will advise as many companies that I can to be careful when using this company because they do not do what they promise they will do. Nick admitted to me On the phone I was correct that they told me what they did and that they just can’t help me. Every time I call I get the run around and now instead of a call they won’t answer but send a text and say that accounting in reviewing everything. DO NOT use this company or Nick if you want to be delivered what you are promised. Worst experience I have ever had working with a company. This will not let me comment on your comment below so added to this. What you said is not true at all. I spoke with him on the phone multiple times and his supervisor and was informed I had nothing to worry about that Nick would call me prior to this happening and here we are a month and half later and it has still not been Returned, you guys still ignore my calls , text and emails and we are being forced to take legal action at this point. Also, you keep telling me stuff about IRS and when I called them I got an entire different story and you guys failed to even submit all the proper paperwork to the IRS which is holding all my funds up even more. We have also discovered others now you have done the same thing to. Very poor business practices you have and you are aware of what you have done but yet continue to not be honest with me and mislead me. I hope anyone Looking to use you guys Read this and choose a different company.

The lady calls and sends me emails to tell me I'm approved for offers. I currently have covid so I didn't respond to any messages . She proceeds to rudely call my office and give them my personal information that is not anyone else's business!!! This is a lender calling my employees giving out my personal information to get me to call . On top of that she was rude to the receptionist like she was a shady bill collector!!!

Small Business Owners, please understand the difference between simple interest and APR. Simple interest IS NOT the total true cost of your loan. APR is the true cost of your loan. I was offer 12% on LOC, but the actual APR was 47.9%. Extremely misleading. Please be careful when borrow money. Look at what it is truly costing you, which is measure by Annual Percentage Rate (APR).