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BFS Capital
263 West 38th Street, Manhattan, New York, United States
About the BFS Capital
BFS Capital is a finance institution located at 263 West 38th Street in New York, New York, United States. They specialize in providing funding solutions for small and medium-sized businesses, offering a range of financial products including business loans, lines of credit, and merchant cash advances. With a focus on quick and flexible funding options, BFS Capital helps businesses access the capital they need to grow and thrive. Their experienced team works closely with clients to tailor financing solutions to meet their specific needs and goals.
263 W 38th St, New York, NY 10018, United States
Opening hours of BFS Capital
Monday:
09:00 - 18:00
Tuesday:
09:00 - 18:00
Wednesday:
09:00 - 18:00
Thursday:
09:00 - 18:00
Friday:
09:00 - 18:00
Saturday:
Day off
Sunday:
Day off
Reviews of BFS Capital
"Sorry but did not have a good impression about BFS. When applying this company demands log in ID and passwords to access your bank accounts or merchant account. So I felt concern of them demanding this in order to grant you the loans This company sends unsolicited pre-qualifications to businesses under the name of Copperline Capital Companies offering 3-5 year business loans with rates between 5-9% and terms between 1-5 years, with no fees and and no prepayment penalties. Upon applying we were (surprise) not qualified for the offer sent and were instead shown an outrageous predatory loan demanding daily ACH withdrawals and an interest rate approaching 30% via BFS Capital. The loan agreement they sent asks the business to collateralize the loan, grant a personal guarantee and has default clauses for such things as changing your bank account, changing management or death. These are not uncommon requests, but are specifically identified as things they DO NOT require in their solicitations. A default would trigger immediate payment of the total balance. In addition their document requires you to give up your right to file bankruptcy, to hold harmless the lender and to go through arbitration in N. Carolina. There is NO prepayment option, the debt is to be senior secured and the origination fees run at 3 additional points. Finally the agreement also forces default if you were to take additional loans for your business. Oh and finally, they want you to login to your business banking website via a 3rd party (decision logic) who in turn uses yet another 3rd party (Yodlee) to verify and take payments from your business bank account so they have direct access to your accounts. If you are ok with giving numerous companies and 3rd parties the login info to your bank then they might be a good fit for you. In summary, this is about as predatory as a loan can get...Buyer beware these loans are designed to put you in default."
"Excellent customer service. Willing to work through obstacles with their client. Amazing team."
"Very simple process. Fast service. Easy to work with."
"Good program for the businesses those are stable, but in need of urgent funding. The first term is a bit harsh, but trust me when I say, it get's much better on second term around. Make sure to keep good relations with the company as far as payback is concerned. I am already looking forward to see next offer."
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