I was required by Funding Edge to pay a upfront fee of $2500 dollars for their assistance in obtaining a loan. After filling out the 1003 I was notified by the Selling broker the Owner decided to take the contract of another bidder and place my offer as a backup.
I contacted Funding Edge and spoke with one of it's owner(s) Rhonda Hubbard on March 12, 2014 concerning placing me file on hold due to the Property Owner accepting another contract to purchase the subject property. I was informed by Rhonda that it would be no problem just keep her apprised of the situation.
On May 21, 2014 I was informed by the selling Broker that the property was no longer available. I intern called Rhonda one of the Principle Owners of Funding Edge and requested a refund of my money, minus any cost incurred. Rhonda proceeded to explain that she would return my unused portion of Funds and that the request would go in on that same day.
As of June 27, 2014 and repeated calls to Rhonda Hubbard and Leon Hubbard (the Owners) I have gotten nothing but games and deception. It amazes me that they would ask the public to trust them with Multi Million dollor deals and they are playing games over $2,500.
Despite reps and warrants as a lender into the cannabis industry, they completely misrepresented their true colors. They required documentation that went beyond anything I had seen before. I have done in excess of close to $100m in loans, and despite claims they could do this, they had no lenders that could do this simple loan request. We paid a $500.00 fee and despite not wanting hard credit we did. We had excellent scores and collateral that worst case was a 40% CLTV.
Leon misunderstood the files sent and wanted to secure a $10m building that had nothing to do with the loan request. Then Leon ghosted, refused to return calls or emails, totally unprofessional, absolute frauds.
BE CAREFUL, they do not do "cannabis loans" period. They want/demand upfront fees and hard credit pulls, w/o any ability to close this type of facility.
BUYER BE WARE, go somewhere else, they cannot do what they advertise.
I agree with the first complainant about Funding Edge, false advertising all around. I started with them in August of 2014 they gave us a letter of Intent, which stated that our loan would be interest only for six year at a rate along with what the payments would be.
This I strongly believe is used to gain your confidence and bait you so when they turn around and ask you for the upfront fee of $1,600 which we wired into their account, you are thinking you have a deal and closing will be at least within 30 days. As the first consumer who filed a complaint stated they then send you a fee agreement with high percentage rate of fees which they say cannot be negotiated.
We accepted that, still thinking, we have a letter of Intent it will be worth the cost and then they send us a list of 13 things I spent several days’ long hours each day for two weeks compiling six months of banks statements, our tax returns, letters from our contractors, realtor’s opinion letter, explanations for uses of the funds, explanations for credit reports we promptly provided everything requested within 30 days when ever they requested something new. One thing that really adds insult to the injury they began to ignore my emails.
I would call at least three times each month to inquire about the loan status. Each time I called I was told my file is transferred to another of several different so-called loan assistant processors, and one actually got rule with me for inquiring about the status of the loan. They ran my credit report several times and finally I was told by one of the loan processor that on January 9, 2014 that my file is in underwriters, wow I thought it won’t be much longer now, well it is now February 9, 2014 and the now third contact person on my loan will not return my request for a phone call or answer my emails.
These people use every trick in the book to find a way out of fulfilling the loan. lately they said red flags are up because they found an old website that an ex-partner had up. They said they called the number on the web site and this individual told them that we are close, and because of that they proceed to send me a new slip list with another 30 things that I had already sent them. But now it is April 2015 almost a year since I began this process I am disgused.
So I emailed the Managing Director and I was told that this person whom I never spoke with or received an email from is working with an investor on my behalf. Well I thought six months ago when they sent me the letter of Intent stating the terms of the loan that they had investors all ready in place. I caution anyone against using Funding Edge and they also go by Power2fund. We are further in the hole wasting time and money with them if there be a class action law suit filed against them please count me in. It is not moral or right to rob and lie under the pretense of doing business to vulnerable unsuspecting business owners.
Funding Edge advertizes to have guranteed funding low amount of documentation. None of this is true. First you must pay large up front fee. Then you will be over run with the amount of documentation needed.
They have no money to loan themselves but they make it sound that everything is possible and no loan is a big deal. however they will not do a thing until you wire transfer money into their bank account.
At the pointo they have your money you will be given an unbeleivable laundry list of things to do. The low docs claim could not be further from the truth.
When they find someone they will be looking for someone who also will want an up front fee of which I have to assume they get a portion.
Assuming they provide an offer for funding the interest will be in the teen's with a huge amount of points and maybe a 1 year loan.
I was required by Funding Edge to pay a upfront fee of $2500 dollars for their assistance in obtaining a loan. After filling out the 1003 I was notified by the Selling broker the Owner decided to take the contract of another bidder and place my offer as a backup.
I contacted Funding Edge and spoke with one of it's owner(s) Rhonda Hubbard on March 12, 2014 concerning placing me file on hold due to the Property Owner accepting another contract to purchase the subject property. I was informed by Rhonda that it would be no problem just keep her apprised of the situation.
On May 21, 2014 I was informed by the selling Broker that the property was no longer available. I intern called Rhonda one of the Principle Owners of Funding Edge and requested a refund of my money, minus any cost incurred. Rhonda proceeded to explain that she would return my unused portion of Funds and that the request would go in on that same day.
As of June 27, 2014 and repeated calls to Rhonda Hubbard and Leon Hubbard (the Owners) I have gotten nothing but games and deception. It amazes me that they would ask the public to trust them with Multi Million dollor deals and they are playing games over $2,500.
I agree with the first complainant about Funding Edge, false advertising all around. I started with them in August of 2014 they gave us a letter of Intent, which stated that our loan would be interest only for six year at a rate along with what the payments would be.
This I strongly believe is used to gain your confidence and bait you so when they turn around and ask you for the upfront fee of $1,600 which we wired into their account, you are thinking you have a deal and closing will be at least within 30 days. As the first consumer who filed a complaint stated they then send you a fee agreement with high percentage rate of fees which they say cannot be negotiated.
We accepted that, still thinking, we have a letter of Intent it will be worth the cost and then they send us a list of 13 things I spent several days’ long hours each day for two weeks compiling six months of banks statements, our tax returns, letters from our contractors, realtor’s opinion letter, explanations for uses of the funds, explanations for credit reports we promptly provided everything requested within 30 days when ever they requested something new. One thing that really adds insult to the injury they began to ignore my emails.
I would call at least three times each month to inquire about the loan status. Each time I called I was told my file is transferred to another of several different so-called loan assistant processors, and one actually got rule with me for inquiring about the status of the loan. They ran my credit report several times and finally I was told by one of the loan processor that on January 9, 2014 that my file is in underwriters, wow I thought it won’t be much longer now, well it is now February 9, 2014 and the now third contact person on my loan will not return my request for a phone call or answer my emails.
These people use every trick in the book to find a way out of fulfilling the loan. lately they said red flags are up because they found an old website that an ex-partner had up. They said they called the number on the web site and this individual told them that we are close, and because of that they proceed to send me a new slip list with another 30 things that I had already sent them. But now it is April 2015 almost a year since I began this process I am disgused.
So I emailed the Managing Director and I was told that this person whom I never spoke with or received an email from is working with an investor on my behalf. Well I thought six months ago when they sent me the letter of Intent stating the terms of the loan that they had investors all ready in place. I caution anyone against using Funding Edge and they also go by Power2fund. We are further in the hole wasting time and money with them if there be a class action law suit filed against them please count me in. It is not moral or right to rob and lie under the pretense of doing business to vulnerable unsuspecting business owners.
Funding Edge Reviews
I was required by Funding Edge to pay a upfront fee of $2500 dollars for their assistance in obtaining a loan. After filling out the 1003 I was notified by the Selling broker the Owner decided to take the contract of another bidder and place my offer as a backup.
I contacted Funding Edge and spoke with one of it's owner(s) Rhonda Hubbard on March 12, 2014 concerning placing me file on hold due to the Property Owner accepting another contract to purchase the subject property. I was informed by Rhonda that it would be no problem just keep her apprised of the situation.
On May 21, 2014 I was informed by the selling Broker that the property was no longer available. I intern called Rhonda one of the Principle Owners of Funding Edge and requested a refund of my money, minus any cost incurred. Rhonda proceeded to explain that she would return my unused portion of Funds and that the request would go in on that same day.
As of June 27, 2014 and repeated calls to Rhonda Hubbard and Leon Hubbard (the Owners) I have gotten nothing but games and deception. It amazes me that they would ask the public to trust them with Multi Million dollor deals and they are playing games over $2,500.
Despite reps and warrants as a lender into the cannabis industry, they completely misrepresented their true colors. They required documentation that went beyond anything I had seen before. I have done in excess of close to $100m in loans, and despite claims they could do this, they had no lenders that could do this simple loan request. We paid a $500.00 fee and despite not wanting hard credit we did. We had excellent scores and collateral that worst case was a 40% CLTV.
Leon misunderstood the files sent and wanted to secure a $10m building that had nothing to do with the loan request. Then Leon ghosted, refused to return calls or emails, totally unprofessional, absolute frauds.
BE CAREFUL, they do not do "cannabis loans" period. They want/demand upfront fees and hard credit pulls, w/o any ability to close this type of facility.
BUYER BE WARE, go somewhere else, they cannot do what they advertise.
I agree with the first complainant about Funding Edge, false advertising all around. I started with them in August of 2014 they gave us a letter of Intent, which stated that our loan would be interest only for six year at a rate along with what the payments would be.
This I strongly believe is used to gain your confidence and bait you so when they turn around and ask you for the upfront fee of $1,600 which we wired into their account, you are thinking you have a deal and closing will be at least within 30 days. As the first consumer who filed a complaint stated they then send you a fee agreement with high percentage rate of fees which they say cannot be negotiated.
We accepted that, still thinking, we have a letter of Intent it will be worth the cost and then they send us a list of 13 things I spent several days’ long hours each day for two weeks compiling six months of banks statements, our tax returns, letters from our contractors, realtor’s opinion letter, explanations for uses of the funds, explanations for credit reports we promptly provided everything requested within 30 days when ever they requested something new. One thing that really adds insult to the injury they began to ignore my emails.
I would call at least three times each month to inquire about the loan status. Each time I called I was told my file is transferred to another of several different so-called loan assistant processors, and one actually got rule with me for inquiring about the status of the loan. They ran my credit report several times and finally I was told by one of the loan processor that on January 9, 2014 that my file is in underwriters, wow I thought it won’t be much longer now, well it is now February 9, 2014 and the now third contact person on my loan will not return my request for a phone call or answer my emails.
These people use every trick in the book to find a way out of fulfilling the loan. lately they said red flags are up because they found an old website that an ex-partner had up. They said they called the number on the web site and this individual told them that we are close, and because of that they proceed to send me a new slip list with another 30 things that I had already sent them. But now it is April 2015 almost a year since I began this process I am disgused.
So I emailed the Managing Director and I was told that this person whom I never spoke with or received an email from is working with an investor on my behalf. Well I thought six months ago when they sent me the letter of Intent stating the terms of the loan that they had investors all ready in place. I caution anyone against using Funding Edge and they also go by Power2fund. We are further in the hole wasting time and money with them if there be a class action law suit filed against them please count me in. It is not moral or right to rob and lie under the pretense of doing business to vulnerable unsuspecting business owners.
Funding Edge advertizes to have guranteed funding low amount of documentation. None of this is true. First you must pay large up front fee. Then you will be over run with the amount of documentation needed.
They have no money to loan themselves but they make it sound that everything is possible and no loan is a big deal. however they will not do a thing until you wire transfer money into their bank account.
At the pointo they have your money you will be given an unbeleivable laundry list of things to do. The low docs claim could not be further from the truth.
When they find someone they will be looking for someone who also will want an up front fee of which I have to assume they get a portion.
Assuming they provide an offer for funding the interest will be in the teen's with a huge amount of points and maybe a 1 year loan.
Stay away from these bottom feeders.
I was required by Funding Edge to pay a upfront fee of $2500 dollars for their assistance in obtaining a loan. After filling out the 1003 I was notified by the Selling broker the Owner decided to take the contract of another bidder and place my offer as a backup.
I contacted Funding Edge and spoke with one of it's owner(s) Rhonda Hubbard on March 12, 2014 concerning placing me file on hold due to the Property Owner accepting another contract to purchase the subject property. I was informed by Rhonda that it would be no problem just keep her apprised of the situation.
On May 21, 2014 I was informed by the selling Broker that the property was no longer available. I intern called Rhonda one of the Principle Owners of Funding Edge and requested a refund of my money, minus any cost incurred. Rhonda proceeded to explain that she would return my unused portion of Funds and that the request would go in on that same day.
As of June 27, 2014 and repeated calls to Rhonda Hubbard and Leon Hubbard (the Owners) I have gotten nothing but games and deception. It amazes me that they would ask the public to trust them with Multi Million dollor deals and they are playing games over $2,500.
Funding Edge Power2Fund Funding Edge Power2Fund Ronda Hubbard Boerne Texas
I agree with the first complainant about Funding Edge, false advertising all around. I started with them in August of 2014 they gave us a letter of Intent, which stated that our loan would be interest only for six year at a rate along with what the payments would be.
This I strongly believe is used to gain your confidence and bait you so when they turn around and ask you for the upfront fee of $1,600 which we wired into their account, you are thinking you have a deal and closing will be at least within 30 days. As the first consumer who filed a complaint stated they then send you a fee agreement with high percentage rate of fees which they say cannot be negotiated.
We accepted that, still thinking, we have a letter of Intent it will be worth the cost and then they send us a list of 13 things I spent several days’ long hours each day for two weeks compiling six months of banks statements, our tax returns, letters from our contractors, realtor’s opinion letter, explanations for uses of the funds, explanations for credit reports we promptly provided everything requested within 30 days when ever they requested something new. One thing that really adds insult to the injury they began to ignore my emails.
I would call at least three times each month to inquire about the loan status. Each time I called I was told my file is transferred to another of several different so-called loan assistant processors, and one actually got rule with me for inquiring about the status of the loan. They ran my credit report several times and finally I was told by one of the loan processor that on January 9, 2014 that my file is in underwriters, wow I thought it won’t be much longer now, well it is now February 9, 2014 and the now third contact person on my loan will not return my request for a phone call or answer my emails.
These people use every trick in the book to find a way out of fulfilling the loan. lately they said red flags are up because they found an old website that an ex-partner had up. They said they called the number on the web site and this individual told them that we are close, and because of that they proceed to send me a new slip list with another 30 things that I had already sent them. But now it is April 2015 almost a year since I began this process I am disgused.
So I emailed the Managing Director and I was told that this person whom I never spoke with or received an email from is working with an investor on my behalf. Well I thought six months ago when they sent me the letter of Intent stating the terms of the loan that they had investors all ready in place. I caution anyone against using Funding Edge and they also go by Power2fund. We are further in the hole wasting time and money with them if there be a class action law suit filed against them please count me in. It is not moral or right to rob and lie under the pretense of doing business to vulnerable unsuspecting business owners.