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Seek Capital is a business investment firm headquartered in Los Angeles, California. Seek Capital specializes in funding for start-ups and small business owners however they also offer additional products such as a comprehensive viability assessment and business planning services among others.
Not just for business owners, Seek Capital also offers mortgage lending services to those seeking homeownership. Once an application has been submitted, consumers should expect a response within 24-hours; If approved, funding is wired same-day.
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Seek Capital is an ABSOLUTE SCAM. They will promise you the world and deliver a few personal credit cards for literally 1/4 of the amount they tell you will be "no problem"/"we'll be able to get you twice that amount". I have a credit score (or...DID) above 800. I have $40K in the bank. And....guess what the BUSINESS CREDIT CARD companies told me.... "We cannot offer you the funds you are requesting because of too many inquiries" which is EXACTLY Seek's scam. You sign over permission to them to apply for personal credit cards in the range of $2,000 - $5,000 that they know you be approved for. If 4 or 5 are approved, they take your $795 for APPLYING FOR CREDIT CARDS that you could have applied for in a matter of minutes for free, THEN they charge you 10% of the total you were approved for while screwing with your credit score.
So... you can apply for credit cards on your own, or pay this SCAM $3,000 for the $14,000 in personal credit cards they will apply for in your name. They told me I was pre-approved for $40,000 (that part of the scam: approved by THEIR underwriters, NOT THE CREDIT LENDER'S UNDERWRITERS), that $40K was "no problem". I received $14,000 in personal credit cards and a bill for $3000. When I called them to discuss all of this... They disappeared and sent me a bill!! Do not get remotely involved with this scam. Do your research. Go on Yelp, BBB, etc... It's a known fact that they are scamming innocent people out of their money. Any positive reviews are part of the scam and set up by the company. Do your research!!!!
On or about February 1, 2020 we applied for business funding with Seek Capital LLC. Sergio ** spoke with us in detail and we asked him about the difference between a bank loan and the "revolving line of credit" being presented by Seek Capital. He insisted this was a better option than both a bank loan and a credit card and that we should see funding as early as 24 hours. We already had a business credit card in our possession we had obtained prior and with a 750/760 credit score, our company was looking for a cash option for funding.
After explaining the fee structure briefly to us, we opted for the application fee and a DUNS account to be created plus for Seek Capital to act as a liaison for business lines of credit. What we received was a poorly executed Duns account with the wrong information, personal credit card applications that will not reflect on our business credit reports and sales people who avoided all important questions. On several occasions, we noticed inconsistencies in what was told to us over the phone and made a decision to lower the funding amount. Then at one point, when we inquired about cancelling we were told "you're going to owe the money anyway". So, under duress, we proceeded.
The process was rushed by Sergio ** and Zacky **, and after speaking in detail with Zacky about the fraud Seek Capital, LLC committed and their lack of candor, we sent a written request to void the Limited POA and stop all further dealings with their company. Zacky avoided several scheduled meetings and phone calls from us, and we will be attaching all email correspondence along with all other consumer complaints. The Agreement was only signed by one principal in our company and not by Seek Capital, LLC. Further, the Agreement was only valid until 2/3/2021 so any dealings with Seek Capital, LLC were not legally bound.
After Zacky pushed our account to collections and stopped picking up all emails and calls, we were sent to Pamela ** who seems to be more concerned with defending the company rather than assisting us and complying with their terms and conditions which state "Seek Business Capital's goal is to provide you with excellent service. We want you to be 100% satisfied. If you are not, please contact us right away and we will correct the situation, provide a refund or offer credit that can be used for future Seek Business Capital orders". When we asked for the DUNS account to be corrected, the company blamed us for wrong information but would not explain how the process was done. Is this ported from the IRS or what? She refused to send us the copy of the "application" where the information came from. They are seriously out of control.
We are being forced and threatened to pay fees for 1 business credit card obtained and the invoice for 1 conditionally approved personal credit card. To avoid collections, we were forced to pay this fraudulent company. They refuse to answer questions! They will most likely respond with the cut and paste responses we see on all the other sites where they have been reported. Seek Capital LLC is running an "advanced fee scheme" under the guise of being financial business lenders and consultants. An Advanced Fee Scheme as defined by the FBI is "a victims pays money in anticipation of receiving something greater such as a loan and receives little to nothing in return". The "finder" aka Seek Capital LLC had no intention or the ability to provide financing as advertised on their website and in several phone calls.
Seek Capital LLC also has an expired California Financing Law License as of December 2019, number 60DB0-87717 (this is PUBLIC RECORD) - and should be reported to BBB, FBI and the State of California Department of Business. I have emails where they call themselves lenders, brokers and sometimes consultants. So many other consumers have this same issue and they need to be investigated further.
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This company will absolutely be investigated and brought to justice for misleading folks into signing a Limited POA so they can can apply to personal credit cards with your information. The company is supposed to be consulting on business affairs and even offers an upcharge for how to establish business credit but how the hell do they expect anyone to report a PERSONAL card to the business credit? Sounds like they’re encouraging people to not only lose money for no reason but get completely audited by the IRS. Their responses are laughable - don’t tell people you’re not scammers if they feel they were scammed. Way too many of the same complaints over the last several years solidifies that this is crappy service, predatory and to say you’re always right the customer is always wrong? It’s the worst kind of service.
Don't let this company scam you!!! They are all scammers. They tell you that they can get you funding for your business, but only get you personal credit cards that you can apply for yourself. They have you thinking that they're applying for funding from a bank and get a whole lot of inquiries on your credit report that make it hard to get approved for anything afterwards. Please don't sign any paper or initial anything. This company is bad news. Stay far away from them as possible. They will cause you more harm than good. Please do your research and take your business somewhere else. Seek Capital is a Scam.
-Thank you for reaching out with feedback, we strive to provide amazing service to each and every Client and feedback is a critical part of our commitment to continually improve.
Upon receiving your response an internal investigation was conducted on your account including reviewing all call recordings, emails, system notes and signed agreements. Below are the findings;
- As was discussed in detail, your application did not meet the criteria and hence would not be approved for an SBA loan, term loan or line of credit. Your account was approved for credit card based funding, all at 0% APR for the first 12-18 months
- Although credit cards can be applied for by anyone, the Seek Capital matching platform takes all factors of your credit profile, business details and matches you to the correct credit cards to ensure you receive the highest approval amounts at the best rates. To recommend a business owner to simply go and apply to any credit cards is potentially reckless as they have no knowledge if they will be approved or declined, what the rates will be and the approval amounts. This is what the Seek Capital platform handles.To address your specific concerns:
- You are correct, all funding does come from national or regional banks, Seek Capital is not a lender
- Any time an application is submitted to a bank for funding, the bank will independently review the credit profile which does leave an inquiry. Inquiries do not make it impossible to get approved for subsequent funding, all lenders will review the credit profile including the inquiries. As per Fico.com you can see that credit inquiries makes up a total of 10% of a credit score
Your comments that Seek Capital is a sc@m and other negative commentary is factually incorrect. Everyone is entitled to their own opinion but labelling Seek Capital and all the hard working staff a sc@m is simply rude and unnecessary.
We are truly sorry you did not have a positive experience and if you would like to reach out to your Seek Capital Account Manager and ask to be escalated to a manager, we would be happy to work with you to see what we can do to provide you a better experience.
Seek Capital Support
Went to Seek Capital for a small business loan - cash to purchase a house to flip. Spoke to quite a few different people who assured us we would be able to get financing. No problem. Also, each team member mentioned discounts to their rates and fees. What actually happened was they applied for multiple credit cards in my name and would have kept going after 17 hits on my credit report which dropped my score from over 800 to in the 600's. Never got cash or loan. Only credit - which to get cash would have taken bank transfers and such to the tune of following a detailed script over 12 pages long. So now we have credit cards but no cash for the flip.
Like car salesmen - told us one thing and did something completely different. NOT HAPPY at all - and the fees were over $6500 - which they made me pay before they would advise on how to get cash. NOT professional. Do not let them bully you into signing and then tell you it will all work out - not to worry. Called for hours in the first few days and pressured us to continue. Go somewhere for hard lending money if cash is what you need. Apply for your own credit - this was a scam.
Having been through multiple funding applications and being treated like a number each time, I can honestly say it was very refreshing to be treated like a real person. The level of customer service at Seek Capital was A+ and it made all the difference in the world for me.
I was initially promised 40 grand in funding. Seek Capital got me 1700$ in accessible cash, then charged me 1650$. They are very nice and professional at first but will quickly turn rude and seedy. This company applies you for credit cards then tells you of all their partners and affiliates: this is not true. They don’t do anything you can’t do.This company is so shady they will try to rush you through the sign up process. Don’t sign anything with them. You will regret it. Save your $. They simply promised me one thing and didn’t deliver; now I still have to pay them? They say they are success driven but are merely scammers!
Seek Capital Business will keep you on the right track! I had no idea what to expect from them and I was treated with high respect even though most of the time I didn’t know what I was talking about. I was new and they were ready to walk me through everything I needed for my business. I recommend their services to anyone starting out.
The best I can explain Seek Capital is that they took my personal business goal and my vision and made me feel like it was important to them and that is what makes them different from the rest. I highly recommend them because of their client care and their transparency. Very determined to help and ready to make the process effortless.
I felt like the time it has taken for our start up to come to a point of reality would never come to life! Once we called Seek Capital they directed us to the opportunities we needed to get our business started. Thank you!!!
Seek Capital Company Information
- Company Name:
- Seek Capital
- 6420 Wilshire Blvd., Ste. 600
- Los Angeles
- Postal Code:
- United States
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