ClearcoReviews of clearbanc.com

AVOID THIS COMPANY LIKE THE BLACK PLAGUE. They have the absolute worst customer service we have ever experienced. You won't hear back for WEEKS after sending an email. They will charge you OUTSIDE of the scheduled parameters (They've incorrectly charged me for $4,600 and have had it for over a month with NO resolution). There are a million other lending companies out there you can use. We will never be working with them again and already have a new lender lined up for when we are finished with these guys. I love that someone replied asking me to email support@. NOBODY REPLIES TO THOSE TICKETS. Don't be fooled by this crap. They're great and responsive BEFORE they get your business. I've even called and left messages for people. Nobody emails, nobody calls back. It is an absolute MESS of a company.

Literally from when I received funding each step of the way I was unable to use funds in the account properly to pay my suppliers, the funds would show as successfully sent from their account to my supplier and after 3 weeks my suppliers are yet to receive the funds this has gone on Since January 3rd of 2022, I am writing this review on June 22 2022, they claim my company was the only company experiencing such issues with getting funds across to my suppliers they offer no apologies for how they have caused my organization more financial stress. They were supposed to help even with the excessive interest rate they have charged (I agreed to the interest charges to be fair) but I didn't think each transaction would take 3 weeks or so to get a resolution to get the funds across to my supplier, they at a point eventually agreed to send the funds to my account after many annoying emails to them, Not one of the 3 vendors I tried paying went smoothly, I would stay as far away from them because once they persuade you to take more money than you need in the name of just closing the deal, after that they leave you hanging almost to the point of begging them to do the right thing. I would suggest one of their other competitors as my experience with CLEARCO was horrible to say the least.

Shambles. Complete shambles. I went through the process and was approved for £42000 + fees = £44500. Added my vendor who they were already aware of and how urgent the supplier needed the funds in order to proceed telex and release my container currently at the port. After adding the vendor, I realised I had no access to the funds as I could not settle the invoice yet Clearco were sending me Payment requests . I was in essence repaying for something I couldn’t access. I Tried phoning only to discover their phone number doesn’t work. It’s fake. Ok. The sales rep who was always at hand prior To me signing and accepting now no longer responds. They finally got back to me advising of the error on their end and promised it had been rectified. I submitted the invoice which they claim was successful. Days went by and yet supplier still haven’t received the funds as such I asked Clearco for a payment slip / confirmation which I could at least share with the supplier only for Clearco to now turnaround and say the payment wasn’t sent because the recipient couldn’t be added. But On your system it states “it’s successful “. I subsequently cancelled my direct debit waiting on a response. I refuse to repay a loan I haven’t even used nor can I access. From your fake telephone number to poor support. It’s all a joke / shady Avoid this firm if you are desperate !

I was not sure about the exact payment terms or how everything works. Its my first time lending for my business at any place, so I wanted bit of clarification on how everything works. NOT BEGINNERS FRIENDLY AT ALL, they probably spend all their time with "HIGH SALES" businesses and no time for the small guys. I emailed customer service, Caitlin, and she took 5 days to get back to me, and all I wanted was an explanation how it works. I replied again and she still did not get back to me. They clearly don't want my business and I would rather go with someone else.

Clearco vendor financing is a great opportunity to fund inventory purchases - but it comes with 3 material flaws: 1) You immediately start paying off the entire balance of the funding even if you have only drawn down a small component. At times you might have paid back more than you have drawn! 2) You immediately start paying off the funding even if the goods you used it to purchase do not arrive for months. Vendor financing usually recognises that you pay the loan back when you start selling the goods the loan purchased. 3) Most importantly, Clearco only pays the supplier directly as "Clear Finance Corp". Many countries and banks require that the "payer on the bank payment" matches the "purchaser on the invoice" for the obvious avoidance of money laundering. We have had multiple payments frozen for this reason. That means the supplier never received the Clearco payment which then requires us to pay for the supply ourselves anyway. Clearco seems to be unaware of the seriousness of breaching banking and payment regulations in some countries.

Borrowed and repaid over £120,000 since mid-2020 with no missed or delayed payments at all, we were recently offered a small top-up of £15,000 - accepted it - only to then be told that they can't lend to us because we sell CBD items. We've sold these since day one, well before we drew-down on the other £120k they approved to lend us, whilst selling these same items. We're a longstanding, reliable and (I thought) valued customer, but even after the offer to disable the offending products from our catalogue, they say they cannot lend to us anymore and we need to look elsewhere for other finance partners. Way to be 'for the founders'. Completely unreasonable and unwilling to compromise. Not to mention, this is not the first major run-in with them. They have, in the past, offered us £60k - we accepted - they then rescinded the offer and came back with £28k (yes, less than 50% of the algorithm-generated offer). I understand algorithms have their issues, but this was WAY off the original offer amount. No apology, just excuses regarding the algorithm. They are far from being 'for the founders' - just another large financial institution using very rigid methods of assessment, and applying zero common-sense. And if you think you'll be valued by them because you're a reliable payer and have worked with them on large sums previously - haha. They don't care.

Absolut unprofessionell. Ich befürchte das hier nur Daten gesammelt werden sollen. Wir haben all unsere Account verknürft bei denen wir insgesamt seit Jahren mehr als 150.000 EUR Umsatz machen. Heute kam eine Ablehnung das sie mit kleinen startups wie unserem mit Umsatz niedriger als 10.000EUR pro Monat nicht gearbeitet werden kann. Hä? Also, für uns absolute Zeitverschwendung.

SPAM - constant spam from this company - and they've got my name wrong, so every three or four days I get Spam addressed to Madeleine. My name is is not Madeleine. here's a selection ... Hey Madelaine, Haven't heard back from you, just don't want this potential opportunity to grow your business slip through the cracks. Maybe I've caught you at a particularly busy time? Lux Tenebrae has amazing potential to grow even more than you are already. Clearco capital can make that happen, but don't take my word for it. We helped fellow European brand Piglet see a 700% increase in their 2020 revenue and 6,900% increase in their 2021 ROAS (Yes, you read those numbers correctly). You can check out their story, along with 26 other client case studies across multiple industries on our website. Let's see if the value they find in us also resonates with you! When are you available to connect for 5 minutes later today or tomorrow? Cheers, Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Wed, Mar 30, 2022 at 6:55 am, Helen Doyle wrote: Hey Madelaine, did you sell out of any key SKUs last year? Given massive supply chain delays worldwide and increasing air / freight costs (I've heard as high as 8x), the founders I'm working with have already started placing orders for mid 2022. Not only has this allowed them to stock up and ensure they don't leave any revenue on the table, but buying in bulk has also enabled them to take advantage of supplier discounts and / or jump the line in production runs. Would love to learn more about a potential fit to help your business grow. Is this something worth exploring? Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Fri, Mar 25, 2022 at 12:24 pm, Helen Doyle wrote: Hi Madelaine, We were named LinkedIn's top startup for 2021, and were also named the Top founder-friendly growth partner by Forbes, Tech Crunch, and The Wall Street Journal. With EU annual inflation expected to reach 5% this year, it is no secret that global interest rates are rising, which means that the cost of capital on standard bank loans is increasing. At Clearco, our cost of capital is not tied to Central Bank Rates, and our cost of capital has actually been decreasing every year since 2018. Are you open to scheduling a short call to discuss? From there we can decide if it makes sense to set up a deeper conversation. Cheers, Helen Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Tue, Mar 22, 2022 at 12:24 pm, Helen Doyle wrote: Hi Madelaine, Wanted to follow up on my previous email in regards to funding for Lux Tenebrae. Clearco is able to deploy €10K-€10M as quick as 24 hours. I have seen companies similar to yours increase their revenue 3-5x in 2021, and I think that Lux Tenebrae can do the same in 2022. Our Growth Capital is best used to scale ongoing expenses such as marketing, inventory, product development, and payroll/hiring to fuel growth. Any thoughts on the above? Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Thu, Mar 17, 2022 at 7:37 am, Helen Doyle wrote: Hi Madelaine, What you have accomplished with Lux Tenebrae is nothing short of amazing. Looking at the the product range you showcase it looks like you are in a wonderful position to capitalise on the growth within the leather goods industry as it is expected to increase by 5.5% during 2021-2026. My name is Helen & I wanted to reach out to see if perhaps I might be able to help you grow your business. Clearco helps brands like yours scale growth by providing the tools to succeed - capital, marketing support, inventory, partnerships + data. 7,000 companies including some of your competitors are with us. We don’t take equity and no personal guarantees. Would you be against a quick call to touch base at some point this week to find out how we could help you grow your business? Best, Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here