• March 10, 2006 at 6:15 pm#62955
    Tom Ham
    Participant

    We work with a number of shops on a variety of management and financial issues. One of these shops was offered financing by Empire Capital Leasing Inc. This shop has received no funds so far, however it is out a large amount of money they had to put up for the deal. I am posting this because I know the shop owner very well and trust what he tells me. There are of course two sides to every story and I am only familiar with one side at this time. Any company who may be called into question here is more than welcome to offer their point of view.

     

    The bottom line is that one should check out very carefully any type of financing company. We hope this may prevent someone from having similar problems. My personal opinion is that when any such company requests that the deal start with you giving them money that you run the other way very fast.

     

    Tom - Shop Owner since 1978

    July 10, 2006 at 4:48 pm#67255
    Frank Scandura
    Participant

    This is a very true story, my best friend owns an automotive equipment company here and has seen several companies solicited for lease rates that seem to good to be true. They will demand up front money (reputable companies do not) and they often change the rates and terms several times, and have demanded the transaction be closed before equipment is delivered.  

    July 10, 2006 at 6:22 pm#67258
    Blake
    Member

    Tom, Frank, at the risk of sounding like I have no compassion for my fellow shop owner, have we not been warned about situations/scams like this for years now? Will there ever come a time when people learn that if it sounds too good to be true, it probably is?

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    July 12, 2006 at 7:35 pm#67260
    Tom Ham
    Participant

    Blake Lunsford wrote:
    >
    >Will there ever come a time when people learn that if it sounds too good to be true, it probably is?
    >

    We probably should all post this at our desks!

     

    Tom - Shop Owner since 1978

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