Was contacted by Anthony Burgos of WMC Funding looking to see if I was interested in working capital May 2016. Just so happened we were in the process of looking for a new funding source to pay off a high interest loan we secured in 2015. Anthony said we were approved for $22,000 in funding that was broken into 2 phases. phase one was a short term 8 month loan with a high interest (twice what we already were paying) that was to see if the business was viable to not default. After the first month we were to get 2nd round of funding and then the terms agreed to 11% per year on $22,000 for 2 years would begin.
we received first funding July 2016, the day after funding deposited WMC illegally took $995 when I called and complained Anthony said it was for origination and application fees even though it clearly states in loan contract (the turned out not to be there's) that there was no fees of any kind. Anthony smoothed things over and we paid the first month. When time for 2nd funding we were transferred from Anthony Burgos to Brian Stine, by this time we were already 3 weeks past the 1 month deadline for 2nd funding so I suspected a scam. Brian began taking my calls only to say he was just walking in to a meeting and would call back and never did. My 2nd funding was constantly in legal or underwriting or somewhere. this went on for 6 weeks then Brian stopped answering my call.
It's been 3 months now and I have not heard from Brian Stine or Anthony Burgos in over a month they took their money and ran. I am stuck with a horrendous loan that is straining our business. WMC Funding needs to be held accountable and prosecuted if possible. WMC Funding is to be avoided at all costs. They are conmen misrepresenting themselves as a funding company. The originator of my Loan (Rapid Advance) didn't even get my loan from WMC, they got it through yet another broker I never heard of. WMC Funding is a complete scam.
I have been contacted by several merchants who as have already signed onto loans. I cannot help much once that is the case. Read the contract THOUROUGHLY, record conversations where they promise you more funding. Protect yourself, dont take my word for it, use common sense people. Get a letter of intent with the correct business info, a simple google search will yield this. Once you sign that paper you are legally bound to the direct lender whose name is mentioned throught the contract that WMC brokers the deal for. During my time there, they used to transpose their logos o t wh contracts but READ the linguistics of the agreement BEFORE you sign. The "underwriting processors" who perform the funding call are the actual lenders, this is why WMC will tell you not to mention anything about the second round of funding. Very good at double talk are those guys, dont be fooled.
My name Anthony, the same whose name is attached to this report and as a former employee of this company I am upset to see my name still associated with this but I cannot deny the accuracy of this report. I worked for WMC funding for 3 years up until this March of 2018qhen I voluntarily walked away. My time there will be a black mark of shame that I shall carry with me to my grave, unfortunately. Although I was trained and encouraged by the owners to deceive clients like the author of this report, I made the decision to do so when I could have walked away. I figure I'd post a warning as I have now mended my ways and will never again work for a company like this where I sacrifice my morals and character for a quick buck at the expense of others. If I can help future potential victims from making a horrible mistake, then maybe I can right and balance out some of the wrong I did. I now work making an honest living and am happy again for the first time in almost two years thankfully, the best thing I ever did was leave these conmen in my rearview mirror. I am open to any inquiries about this company and can provide valuable insight and facts which hopefully can help honest merchants from being duped. My email is [email protected] any and all questions are welcome.
Was contacted by phone end of october 2015 about buisness funding. was told that i could get 10 % interest. submited 12 months bank records etc. was with ON DECKat the time and had a small balance remaining was looking to get more funding for the up coming year.. the intial loan was $50.000 at 31 % .. was told throughout the process that there would be a 30 day review and that as long as i didnt get more additional funding from another source i would be given another $50.000 forgiving the interest on the first loan making it 15 % overall. I HAD TO PROVE MYSELF FIRST . salvatorre panettta was the liason throughout the process and said we will be talking at 30 days 21 payments .
i called and sent in my bank statements to show that all payments where made and no additinal funding... THEN NOTHING.. no call backs ..nothing.. that is when it became apparent that they had lied about who they where. what i had done was sign a loan with credibly at 31 %.. And had been coached by salvatorre panneta through the underwriting process which he claimed to be neccessary as a 30 day underwriting insurance to show i was worthy.. not just SAL . but the whole staff is an organized con ... they create a carrot to hold out in front of you with verbal promises that they are the money people and how much they want you as a longtime future customer ....and its all for a quick commision check...
i have been truly been harmed in the fact i ddint get the actual funding i needed for the upcoming year... only half. and at an interest rate that i was promised would go away after 30 days.. the actual lender turned out to be the underwriting processors and i was coach by SALVATORRE PANETTA on what say and not say in order to get the intial process started... They are very very good at this , and beyond a doubt i know there has to be other victims ... what i say is true as god my witness... and iam open to any inquireys in regards to WMC Funding and Salvatorre Panetta .
i work hard to make my buisness run and pay my 20 employees.. and these guys have just set me back...without a care in the world im sure..
Pretty much the same experience as the others above. Unbelievable how good these guys are at convincing people to throw common sense out the window. If I only I had known before I took this ridiculous loan
The guys at WMC talk a good game but most of it is all lies. Like the reviews mentioned above, I was tricked into taking a high interest loan with the promise of being able to convert it over to a line of credit within a month at much more reasonable terms. None of it was in writing but they have some smooth talking conmen st this company. Ask for everything in black and white, if it is not in the contract it is not real. Buyer Beware!!!
I won't even give them 1 star. They are professional con men trying to make a quick buck. Pure FRAUD. They will tell you what you want to hear, convince you to take a short term loan to show you are trustworthy, take their commissions, and run. Then you wind up paying for a loan that has a 35% to 50% interest rate.
STAY AWAY FROM THESE GUYS, THEY ARE REALLY GOOD AT HAVING YOU THROW ALL LOGIC OUT THE WINDOW.........REMEMBER, IF IT SOUNDS TOO GOOD TO BE TRUE, IT IS!!!!!
I had the exact experience as the previous reviews, total lies , dont, walk run from these two guys Mike and Brian, i cant wait until karma catches up with these two clowns and they get "bridged an consolidated" so deep they can't sit down for a month, that's what they are doing to honest hard working people. We all should reach out to the attorney General as a group.
WMC Funding Reviews
Was contacted by Anthony Burgos of WMC Funding looking to see if I was interested in working capital May 2016. Just so happened we were in the process of looking for a new funding source to pay off a high interest loan we secured in 2015. Anthony said we were approved for $22,000 in funding that was broken into 2 phases. phase one was a short term 8 month loan with a high interest (twice what we already were paying) that was to see if the business was viable to not default. After the first month we were to get 2nd round of funding and then the terms agreed to 11% per year on $22,000 for 2 years would begin.
we received first funding July 2016, the day after funding deposited WMC illegally took $995 when I called and complained Anthony said it was for origination and application fees even though it clearly states in loan contract (the turned out not to be there's) that there was no fees of any kind. Anthony smoothed things over and we paid the first month. When time for 2nd funding we were transferred from Anthony Burgos to Brian Stine, by this time we were already 3 weeks past the 1 month deadline for 2nd funding so I suspected a scam. Brian began taking my calls only to say he was just walking in to a meeting and would call back and never did. My 2nd funding was constantly in legal or underwriting or somewhere. this went on for 6 weeks then Brian stopped answering my call.
It's been 3 months now and I have not heard from Brian Stine or Anthony Burgos in over a month they took their money and ran. I am stuck with a horrendous loan that is straining our business. WMC Funding needs to be held accountable and prosecuted if possible. WMC Funding is to be avoided at all costs. They are conmen misrepresenting themselves as a funding company. The originator of my Loan (Rapid Advance) didn't even get my loan from WMC, they got it through yet another broker I never heard of. WMC Funding is a complete scam.
Anthony Burgos
I have been contacted by several merchants who as have already signed onto loans. I cannot help much once that is the case. Read the contract THOUROUGHLY, record conversations where they promise you more funding. Protect yourself, dont take my word for it, use common sense people. Get a letter of intent with the correct business info, a simple google search will yield this. Once you sign that paper you are legally bound to the direct lender whose name is mentioned throught the contract that WMC brokers the deal for. During my time there, they used to transpose their logos o t wh contracts but READ the linguistics of the agreement BEFORE you sign. The "underwriting processors" who perform the funding call are the actual lenders, this is why WMC will tell you not to mention anything about the second round of funding. Very good at double talk are those guys, dont be fooled.
Anthony Burgos
My name Anthony, the same whose name is attached to this report and as a former employee of this company I am upset to see my name still associated with this but I cannot deny the accuracy of this report. I worked for WMC funding for 3 years up until this March of 2018qhen I voluntarily walked away. My time there will be a black mark of shame that I shall carry with me to my grave, unfortunately. Although I was trained and encouraged by the owners to deceive clients like the author of this report, I made the decision to do so when I could have walked away. I figure I'd post a warning as I have now mended my ways and will never again work for a company like this where I sacrifice my morals and character for a quick buck at the expense of others. If I can help future potential victims from making a horrible mistake, then maybe I can right and balance out some of the wrong I did. I now work making an honest living and am happy again for the first time in almost two years thankfully, the best thing I ever did was leave these conmen in my rearview mirror. I am open to any inquiries about this company and can provide valuable insight and facts which hopefully can help honest merchants from being duped. My email is [email protected] any and all questions are welcome.
Was contacted by phone end of october 2015 about buisness funding. was told that i could get 10 % interest. submited 12 months bank records etc. was with ON DECKat the time and had a small balance remaining was looking to get more funding for the up coming year.. the intial loan was $50.000 at 31 % .. was told throughout the process that there would be a 30 day review and that as long as i didnt get more additional funding from another source i would be given another $50.000 forgiving the interest on the first loan making it 15 % overall. I HAD TO PROVE MYSELF FIRST . salvatorre panettta was the liason throughout the process and said we will be talking at 30 days 21 payments .
i called and sent in my bank statements to show that all payments where made and no additinal funding... THEN NOTHING.. no call backs ..nothing.. that is when it became apparent that they had lied about who they where. what i had done was sign a loan with credibly at 31 %.. And had been coached by salvatorre panneta through the underwriting process which he claimed to be neccessary as a 30 day underwriting insurance to show i was worthy.. not just SAL . but the whole staff is an organized con ... they create a carrot to hold out in front of you with verbal promises that they are the money people and how much they want you as a longtime future customer ....and its all for a quick commision check...
i have been truly been harmed in the fact i ddint get the actual funding i needed for the upcoming year... only half. and at an interest rate that i was promised would go away after 30 days.. the actual lender turned out to be the underwriting processors and i was coach by SALVATORRE PANETTA on what say and not say in order to get the intial process started... They are very very good at this , and beyond a doubt i know there has to be other victims ... what i say is true as god my witness... and iam open to any inquireys in regards to WMC Funding and Salvatorre Panetta .
i work hard to make my buisness run and pay my 20 employees.. and these guys have just set me back...without a care in the world im sure..
Loan Sharks
Pretty much the same experience as the others above. Unbelievable how good these guys are at convincing people to throw common sense out the window. If I only I had known before I took this ridiculous loan
Fake Review
This review is obviously fake. Look at the date compared to the 2 below.
Scam Artists
The guys at WMC talk a good game but most of it is all lies. Like the reviews mentioned above, I was tricked into taking a high interest loan with the promise of being able to convert it over to a line of credit within a month at much more reasonable terms. None of it was in writing but they have some smooth talking conmen st this company. Ask for everything in black and white, if it is not in the contract it is not real. Buyer Beware!!!
Same report as others...I've been scammed
I don't have much more to say than they were correct above. I wish I found these before doing a deal with the devil. DO NOT USE WMC!!!
NEVER, EVER BELIEVE ANYTHING THESE GUYS TELL YOU
I won't even give them 1 star. They are professional con men trying to make a quick buck. Pure FRAUD. They will tell you what you want to hear, convince you to take a short term loan to show you are trustworthy, take their commissions, and run. Then you wind up paying for a loan that has a 35% to 50% interest rate.
STAY AWAY FROM THESE GUYS, THEY ARE REALLY GOOD AT HAVING YOU THROW ALL LOGIC OUT THE WINDOW.........REMEMBER, IF IT SOUNDS TOO GOOD TO BE TRUE, IT IS!!!!!
Keystone Paving
I had the exact experience as the previous reviews, total lies , dont, walk run from these two guys Mike and Brian, i cant wait until karma catches up with these two clowns and they get "bridged an consolidated" so deep they can't sit down for a month, that's what they are doing to honest hard working people. We all should reach out to the attorney General as a group.