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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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!
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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.
TLDR: Kelly is great. Don't trust the sales rep. You will wait at least 2 weeks before you see any money. Everything that they have done for me so far I could have done on my own for way cheaper and probably within a few hours without killing my credit. (Anyone want to start a company? I know a great business model to follow. All you have to do is sell your soul. /sarcasm)
To those of you starting a new business don't seek funding here. Unfortunately the only positive part of my experience with Seek Capital was Kelly **, my case manager. Don't waste your time and money with them unless you are poaching Kelly to a better company. I first reached out to seek capital for my new business and was told on the phone that if I pay for an extra package that my funds would be available within 48 hours. Don't trust this. I paid for the expedited service and at a minimum, you are waiting two weeks. Thankfully this was refunded to me since it was a blatant lie.
Next up I signed up for the negotiations package. Let me start off by informing you this is nothing more than a concierge service to connect you to the banks. It inferred that they will be calling the banks on your behalf but that is not the case and the majority of the time the banks won't do anything if they are on the phone and even when you get through to a representative that will work with you and the seek capital agent you will have to do most of the talking and convincing. You may as well call on your own. You would likely have better success.
The first "Specialist" they paired me with was fumbling over his words when he would speak and was very disorganized. You could tell the representative from the bank was embarrassed for him. They decided to put me with a new "Specialist". On the first call she was great and pushed back but then on the second call, she was nowhere to be found. It was like she was taking a completely another call because when she finally joined the conversation she was completely lost. So after two failed attempts and 4 more hits on my credit they were unable to renegotiate and additional funds.
Next is the liquidation package which is designed to be a cash advance using credit from the bank. They charge $700 dollars for this service and after a quick google search, I found out how to do it on my own. While with seek capital I got approved for one credit card total from the banks I already bank with that sent me the same offer seek got me 5 weeks before.
Anyways after all this, I didn't even get close to the funds needed, I could have done this on my own with greater success I'm sure. I just didn't have the time to. After reading some of these Google reviews and responses I don't know how I went with them. Either the review is clearly fake or it's 1-2 star and filled with complaints of deceit or lies. The best part is the person responding to the reviews who is condescending and has lost all morals in favor of signing a document.
I used worked in travel agency but I couldn't work for a travel agency that I worked for because of Pandemic, and I needed a purpose of investment and personal expenses, so I kept getting calls from this company while searching the Internet, so I unintentionally asked for a business loan with Seek Capital. At first, I was just going to just ask them, and I told them I didn't need it right away, but financial advisor Jacky ** said I could get a credit card loan. But I also have many existing credit cards, so what I needed was a business loan, not a credit card.
I explained it several times and wanted to stop in the middle, but he said it would cost $400-$600 to cancel the process.. so I trusted him and left it to the end, but he said it was okay because there was a liquidation plan, so I ended up asking for it. But what I'm getting later is a huge wasting in time, two credit cards that I don't need, and $1700 in fees to Seek Capital and the credit score was lowered, and the person in charge was a shameless person who didn't reply to me after receiving the fee that I paid... I've never experienced this kind of fraud before, and I don't understand why they kept trying to make credit cards that I didn't even need. I can make as many credit cards as I want and I don't really need them. I feel really bad. It was a bad experience just wasting $1700. In my experience, it's a really bad company and that financial advisor named Jacky ** was a fraud.
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.
Seek Capital Company Information
- Company Name:
- Seek Capital
- 6420 Wilshire Blvd., Ste. 600
- Los Angeles
- Postal Code:
- United States
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