I had contacted BH Capital Limited through one of their agents, Ron Coleman of NEPCO, Inc. to arrange financing for a multi-family apartment building. They provided a few references, including news journalist Bill Kurtis (ABC News). They provided an initial “approval” of the loan within days, but quickly started backpeddling. Their “approval” was not based upon any document or due diligence review, it was just a way to collect upfront advance fees. George Lovato Jr. runs this company in New Mexico, along with Terry Suitt from Florida. Ron Coleman of NEPCO, Inc. is based in Georgia, and was the agent involved in the loan file. They gave numerous representations, commitments and approvals to us and to attorneys involved in the transaction that proved to be false. They misrepresented the status, NEVER obtained an actual loan approval, and came up with numerous excuses for the delays.They were incompetent, unprofessional, and outright lied about certain facts (which we caught later). They would not return phone calls or emails for days (if at all), and made tons of excuses. Records show that we provided all documents and information within 48 hours of request. Five months later, they indicated that they can’t finance a property in our state! They ended up wasting a tremendous amount of our time and money, and ripped us off for thousands of dollars. To put this complaint into context, we are experienced real estate developers and managers, with over 20 years of experience. We went to them based upon a unique set of circumstances, that were fully diclosed at the time of contact, and thay they agreed to – and they indicated would not be an issue. Further, once we realized that they were incompetent, we secured another loan with another lending institution without issue. There was nothing wrong with the loan package, collateral or credit – they simply were bumbling idiots. Save your money and alot of aggravation – stay away from BH Capital, George Lovato, Terry Suitt and Ron Coleman. I wish we had.
This complaint and/or review was posted on HolySmoke.org on 18:34 pm, June 13, 2018 (CST) and is a permanent record located at: https://www.holysmoke.org/scam/bh-capital-ltd-review/.
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