About Seek Capital
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.
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Lending Tree gave my info to a few lenders. None of them were helpful in getting a business loan. One of the lenders Seek Capital called me and I said I was not interest in their ideas. I still get many calls everyday and they won't stop. I block a number and they use a different number. I also get emails and a few texts too. If you give your info to Lending Tree they just give it to others.
I told the first rep from Seek that I talked to that I was not interested in their service. I still get many calls/emails per day from Seek. This is bordering on harassments. I block their calls for one number and they call from another phone number.
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Ok let's get to the point!
1. DON'T DO business with Seek Business Capital!
2. Seek Business Capital DOES NOT provide any funding or work with any "Banking Partners". They will take your information and RANDOMLY APPLY for a bunch of PERSONAL CREDIT CARD and then charge you 9-11% of the MAX amount.
3. ONLY apply for what you need! Don't let them talk you into applying for more, as your fees will be based on the max balance.
4. They will ruin your CREDIT with their multiple reckless inquiries, their goal is get funding at whatever cost as they charge for what you are approved for (regardless if it not business credit).
5. Don't fall for their tactics where after they fall short on their promises, a really nice person in my case Craig ** (British guy). Tries to butter you up with his soothing accent, while rubbing on the Vaseline/Lube/Spit for more pounding! Their endgame is to convince you that you made a good decision and you should pay their high ridiculous fees, for credit cards you could have applied for on your own!
6. Lastly, visit the official BBB site for true unbiased reviews! I strongly believe some of their Facebook and Google reviews are BOTS!
I'm not stupid enough to actually utilize this company but I did a free inquiry for a business loan through another company and allowed Seek to have my email and phone. Sure enough I was bombarded with spam/automated voicemails from people in India. Many of these voicemails were incoherent laughter with people talking in the background. Yall see these recent reviews of 1 star-1star-1 star-1star down the pages and please if you can, avoid Seek Capital as they are obviously not a legit professional financial company. Try to go through proper channels even if it takes longer. Plenty of free business and loan advice out there from local banks, financial agents, credit unions, Reddit advice etc. so no need to be desperate and dumb.
Please do not do business with Seek Capital, they are a fraudulent company. You will be lured into signing agreement to get your business credit but all they are trying to do is get you personal credit which you do not need for a business to grow. If you find out and want to leave you will be made to pay $995.00. Please stay away from this company.
Protect yourself and your business. This company uses pressure tactics to sign you up. The fees they charge are sky-high. I ended up with 2 credit cards and one would not transfer my debt onto the other one for consolidation. Of course, good-old Seek Business Capital has a liquidation team that you can use for $565!!! It's a money racket. They provide a partial product and upcharge to make more money. This has been a nightmare. I am a very small business and really lost $2,500 in this deal. Run away!
Do not use this company, I have wasted close to $4000 to received credit cards that i could have applied for free. I was looking for a Business Credit account, Instead I received personal Credit cards. They are very smooth with switching from Giving you a credit account to getting you credit cards. They document and authorize everything to make it legally binding.
I was very unhappy with their service! In a phone call I recollect that they told me there would be no more charges since I was extremely unhappy with their company. So I was totally shocked when I received a bill for $1100 2 months later. Oh They never said that in a phone call. They haven't sent me the phone call recordings to prove that they never said it. Oh yeah and they also were overcharging me. It took 1.5 weeks of standing on my head till they finally corrected the bill to what they said is correct, but I haven't received any recordings yet. I have never dealt with a company that cared so little about what I wanted or what is good for my company!!!
This is such a poor service for new business owners. It's a legal scam. Kelly ** was my account manager but I dealt with at least 5 others some speaking to banks posing as my "financial advisor". Kelly and her team got me funded for a measly 4k and my credit took a 12 point hit. I was told from the initial POC that if my limit of 10k was not met, I will have the option of accepting the funds or passing. This is not true.
After Kelly heard my frustration, she laughed at the predicament I was in and bragged on the fact she use to be a loan officer and knows how to read contracts and won't be in my situation. If this company thinks they're going to get 2k from me for doing absolutely nothing, I'd rather spend twice the amount on Attorneys to fight this which I am unless Kelly's superior and I can come to an agreement.
From day one of contact I mentioned the need of funds was a 3 out of 10 when they asked me. What intrigued me from this service was the fact that they funded business loans! When Kelly got on the line she mentioned it was a mix of business and personal loans. - I am preapproved for a 50k personal loan from my credit union. Why would I go through a 3rd party for 4k?
Another big thing I don't like about this process is that they send your information out blindly. I got over 10 credit inquires from random cards such as travel cards, etc. I was told it would just be one inquiry. When the declined cards were asked questioned as to why it was declined the answer was "too many inquires" - If they're professionals and they know this why bother to send so many requests out? As a customer I have been let down and laughed at by Seek Capital and their staff.
The way this company behaves really makes them seem like a scam. I contacted them looking to solve cashflow problems for when clients don't pay their invoices on-time. I was looking for a line of credit of $10-20k. I haven't been in business long enough to qualify for a business loan. After great discussions with the initial sales rep, I'm connected with another one - the closer. Good conversations there too, but then she asked if I would want $40k in credit. Being that I'm just looking for an open line of credit for emergencies, I was like, yeah sure. Then she said, how about $50k? I wasn't really thinking about this increasing my fees.
Then, they do their thing to get personal and business credit, but I was thinking I was getting credit from various banks (I know Seek Capital is not a bank). But it isn't lines of credit to help with cashflow at all. It's just credit cards, which don't help with cashflow. So now I have 3 new credit cards which is very pointless and doesn't really help, one of which I definitely want to cancel because it's a card that also has an annual fee b/c it's a Delta Sky Miles card - so useless! Unfortunately, I had a family emergency in the middle of all this on a Saturday, and disappeared for 2 business days. So just 2 days of going dark, and I receive over 20 messages from this company! Who does business this way? It's complete pressure sales, pressure collections with threats.
The silver lining - The American Express Blue Business Plus card is a really great card. I had never heard of it. Seek Capital found it for me, and the way it works and benefits are absolutely worth keeping. So do yourself a favor, and just apply for that card on your own. If you qualify, it's awesome. This whole debacle is costing me over $6,000. I had paid extra for a Business Credit Profile which I never received, so all of this is **. But, I'm the type that pays my bills. So I'll pay the amount, and do what I do and try to inform the world to beware of this company. It's not worth it. You can apply for a ton of credit cards on your own in a few minutes. Hell, you can hire a virtual assistant for $270 and they can do everything Seek Capital did. That's how worthless the service is.
I was about to sell my soul last week. I called a week ago based off a small business loan search. They were the first company who came up. They told me they would get me the cash I was looking for by “unsecured lines” and in my business name. They keep you on the phone for a very long time to wear you down. I signed the agreement because the sales rep Mike made it seem like an amazing solution for my cash flow issues. They purposely scheduled my call 2 days later after the 48 hour clause passes. Once you sign the first agreement, you will be out $495. After 48 hours it’s 995. During one of my calls the verification call the fees of this process started to sink in.
If they get you the funding or any funding they will charge up to 11% of the amount. So if you get a mere 5K credit card you can probably get yourself, you will owe them 11% of that balance. After reading reviews on Google, here and the 80 BBB complaints filed against them, I decided to pay them the cancellation fee of 995 before having my credit ruined and paying them more fees. I learned a huge valuable lesson last week to have more due diligence in researching these types of companies. I have reported them to the FTC. I hope a class action suit is brought against them because the fact this is legal is mind-boggling and predatory.
Seek Capital Company Information
- Company Name:
- Seek Capital
- 6420 Wilshire Blvd., Ste. 600
- Los Angeles
- Postal Code:
- United States
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