Trust Capital, USAReviews of trustcapitalusa.com

I have attempted to contact this company to get more information about their funding options for our company. I was able to make an online appointment. I got reminder emails about the appointment. No response whatsoever by a live person. When I tried the phone number, it says that it is no good. Disappointed. This looked like a great option for our business.

They suck! Scammed us out of $10k from our agreed upon price on the the final hour of the contracted day of closing. They failed to disclose the issues we had disclosed to them to their buyer, then tried to back out of the contract at the very last minute. They knew we had already packed up, and spent our mortgage $ on storage, and no time to find another buyer on such short notice. Then they closed on it with their buyer, before even closing with us. We had to wait an additional 3.5 days for our $, because they timed this sham on a Friday afternoon, preceding a 3 day holiday weekend. We wouldn't recommend this company to walk a dog, much less buy or sell someone's home. They are completely unethical, and deserve negative 50 stars.

Trust Capital is a predatory lending brokerage. I worked with David Mock for an equipment loan and all seemed well until I started asking questions about a breakdown of my interest rate and terms. I initially wrote a glowing review, until I realized I had been tricked into an agreement that was not a traditional loan. In short, David scammed me to lock into an Equipment Finance Agreement, not a LOAN, with all 48 months interest built into the front of the "agreement." NOTE THIS TERM. No where in the agreement does it state that the borrower is responsible for all interest for the loan even if it is repaid early. The way the loan was written also made it appear that my down payment was an "initial payment" and listed the remaining payments at a fixed amount X 48 months that have no true interest rate. Therefore, the borrower has to pay all 48 months at that rate. DO NOT TRUST THEM. After I questioned this, his email address disappeared and I was unable to reach him via the telephone number that I had spoken to him on for weeks. SCAM. Lesson learned. Update: On 8/2/2021 I borrowed $50,394.24 to purchase a commercial vehicle from Trust Capital, USA/Amur Equipment Finance. My Trust Capital, USA representative quoted my interest rate charges at 17.5327% and assured me that there were no prepayment penalties on my loan. On January 11, 2022, 5 months later, I called Amur to inquire about my payoff balance and was quoted that I now owed $73,332.16. This figure represents a 45.51695% increase that was hidden in the deceptive language of the contract. Furthermore, my cash down payment of $12,584.58 was misappropriated as an initial payment, further padding the finance charges to my loan by inflating the principal balance. When I brought this to both companies' attentions, I was offered a 3% discount on 1/13/2022, with no quantitative explanation of how this would impact my payments. I was never provided a loan estimate or an amortization schedule reflecting all of the fees the loan entailed. The deception was hidden by only providing a monthly payment amount & hiding the upfront finance charges in the fine print.

Terrible communication. Terrible rates. Took over 2 months to close and pay a vendor less than 40k. The 2 other items you could not finance. Even though I secured funding from other lenders.

First Trust Capital USA is a BROKER not a lender. They broker for Global Financial out of AZ Global Financial is the company that has the funds, the investors, etc. First sign of being a bad outfit: They ACH'd my account for $900 without telling me and without sending me a receipt weeks before the deal was even close to closing. Then on a check list they asked for the money again and I paid it a second time in a money order. I had to ask 3 times to get them to reverse the $900 ACH. Equipment purchase for $128K Leased amount requested (after being told I need a big chunk down): $90K Offered in writing: 24 Month lease: First and last month: $4951.78 and 22 payments of the same. With $1 buyout Then the jerking around comes: 36 month lease 20% FMV Buyout I said no and kept arguing about original offer then I was told to call their Credit Manager, "name had to be deleted per t&c" . However, "name had to be deleted per t&c" does not work for them, but for Global Financial out of Arizona. "Name had to be deleted per t&c" starts asking me for the same stuff I've given the sales manager and owner at Trust Capital USA (now remember, I don't know anything about Global Financial) After the credit manager of Global Financial and I (two former Bostonians) clear the air and we figure out the nonsense, he sends me the term sheet: $5100 for 24 months with $9K down 20% FMV buyout OR 12 more payments of $5100 a month with a $1 buyout. Lets do simple math: Adding the potential of a 20% kicker on top of $131,400 for a $90K lease is equivalent to borrowing from the local bookie in Little Italy. (20% of $90K = $18K + $41,400 = $59,400 on top of my principle of $90K or 66%) Or more depending on their thought of FMV on the system. My financial picture: My personal credit score is excellent. I put 30% down on the equipment. I offered a Personal Guarantee with millions in free assets on hand. The Run Around: Credit approved, given terms, then no paper work, then a "New higher" rate a couple of weeks latter, (investors who are putting up the cash want a 36 month lease not 24 month lease), I said no to the new terms, then 3 days latter promised a slightly higher (Under $50 a month higher) terms for 24 months, I said yes, send the paper work. (in reality it was almost $150 a month more) Days go by, no paper work, then a call from the owner of Trust Capital USA. The owner tells me the sales manager had no authority to offer me the deal and it is off the table and wants me to pay more money or put more money down or go 36 months. I said no, I am out, send me my $11K back. Then the sales manager of Trust Capital USA emails me and says he has the paper work for the original terms and they are ready to go. I do business with people I trust, not with contracts, terms and lease %'s. The owner of Trust Capital USA and in my opinion has poor business ethics. I am not doing business with Trust and I would advise you to find other direct lending sources & not a broker. The credit manager from Global Financial was straight forward and honest, if the cost of money was not so expensive I would do business with them. Fortunately I have the means to get this done at sub 4.5% rate. Final thoughts: You will pay double or more for you money; borrow $50K and you will pay back $100K or more. Global Financial has a lot of mouths to feed: Run their over head, pay Trust Capital USA a commission and pay their investors their vig on the money.