Seek Captial is a financial scam. The company’s business model is based on stealing money from people and doing false claims. My personal experience with Seek Capital has been pitiful. They are merciless criminals who are lying to people and stealing money from their pockets.
You can understand the kind of lies these people spread from their marketing motto which states that ‘Seek Capital provides funding to companies’. In reality, they steal money from small businesses and provide zero or little funds in return. Working with them is like working with a bunch of civil officers. They never get the job done. And they delay your application and all the formalities for so long that you begin to grow tired.
Not only are they scammers and cheaters but they are also hiding the truth on the internet. Their reputation management tries to keep hiding the complaints posted against them. If I had found the complaints I have listed in this article before contacting them, I never would have contacted for my business.
When you’ll talk to them, they will say they are going to help your business and provide you with more funds. But the truth is, these people are only looking for ways to use your business so they can get the funds in their bank accounts. I couldn’t believe how much money I have had to pay because of the deceptive and mischievous schemes of this company.
Through this review, I’m hoping to help other fellow entrepreneurs and small business owners. Seek Capital is a corporate vulture who is always on the lookout for innocent businesspeople like you and me. They will scavenge off everything you have until you are left with nothing. I lost a lot because of these people and I wouldn’t be surprised if they do it all over again, with someone else.
Who are they?
Seek Capital is a consulting company that supposedly provides funding to small scale business ventures in America. They claim that their primary goal is to provide quick money to small businesses. They say that they can provide you with the funds the same day and give you the estimate under 2 hours.
On their product page, they claim to provide about 5 different services including, Mortgages, Business Services, Business Insurance, Viability Assessment and Funding Procurement.
They are based in Los Angeles California, and they started operating in 2014. Coffin Capital/ Matt Coffin, Thayer Street Partners, Brian McLoughlin and Innovent Capital are the investors of Seek Capital, it is what their website says.
They are quite anonymous on the internet and avoid much interaction with anyone on the internet. And thus there is only a little information available about them. I’m not an expert but I guess they have done it to avoid any traction as it will increase their chances of getting caught.
They have designed their website with cunning and they act like real professionals. Their whole website is made to convince you into contacting them for any financial aid. I fell for their trap and I don’t want you or anyone else to fall for them again.
How they Scammed Me and Ruined my Business (My Personal Experience)
I own a small IT services company. It isn’t much but it gets things done. My company provides services in setting up the IT infrastructure for other businesses and managing the same. Because of Seek Capital, my business has been facing staggering losses. They have ruined the entire finances of my business and its credibility while doing so.
It all started last year when I thought I should scale my business. Everything was going well, so I thought if I got more funds, I”ll be able to expand it further by getting more employees and getting more marketing budget. I found Seek Capital online and saw their website. When I contacted them for ‘Funding Procurement’, I thought it would be great if I can get some funds through this method because according to them, the main risk bearer was them and not me.
They seemed too good to be true. I am ashamed of myself that I didn’t notice the clear lies they were telling me all the time. They didn’t hesitate in lying to me about the kind of growth I can expect and how their experts can help me in getting the funds for my future projects. I wish I had never contacted them in the first place. Because when I did receive the funds, it was about a few tens of thousands of dollars.
I had to pay the lender around $2,000 per month for the funds I had been paid. The contract was for around a year. It didn’t feel much for my business and considering the amount I had been given, it was sufficient for me.
The problem started around 6 or 7 months after I had started paying them. Everything was going good for a while but then I received a call from the lender saying that I have been skipping payments and I will have to pay them a hefty fee if I don’t start paying them the full instalments.
It was weird for me because I had been paying them $2,000 per month. When I contacted Seek Capital, who was handling the transactions between us, they told me that they will look into the matter and that I shouldn’t worry much in this regard. Again, it was a loan and I wanted to get rid of it in a professional way. After a few weeks, the lender called me again about the missing funds. They told me that for the past 3 months, they had only been receiving $1,000 from me.
That was a huge shock for me. Because I was paying the full amount. There was no way they were getting partial payments. I contacted Seek Capital again, regarding the issue. They told me that there must be some error but they will resolve everything.
I went to meet the leaders and showed them the transactions I had made for $2,000. Apparently, Seek Capital was acting as the middle man between us and they were only sending half of the amount to the receiving party.
The lender told me that I will have to pay them the rest of the dues in time. So apart from the debt, my business was already buried in, I had an additional due of $3,000. I contacted Seek Captial and asked for an explanation. They started avoiding my questions and gave me vague explanations.
When I stopped paying the lender through the account Seek Capital had mentioned, I started receiving calls from their staff about how I’m violating the contract. They charged me a hefty fee of $5,000 for the violation of the contract. They are malicious thieves who don’t stop at anything. First, they were stealing money from my payments, and when I stopped them from stealing, they slapped me with a $5,000 charge.
Their malicious financial scam cost my business a lot. I still haven’t been able to overcome the difficulties those financial losses had caused my business. The expansions I was planning to do, I have put them on hold for some time. Because I’m too busy managing all the debts and financial problems my business is facing at the current moment.
All my plans have shattered. It was my foolish mistake to trust these pathetic cheats and liars. They are financial fraudsters and I hope they get caught for the crimes they are doing. I’m not a big businessman. My company is quite small. We are only a handful of people. But after this ravaging act from Seek Capital, my personal financial situation has also been disturbed.
They market themselves as well-wishers for your business. They say that they do all the hard work of finding the right investors and funders for your business. In reality, they are connecting small businesses with loan sharks.
Ever since its launch, Seek Capital has been conning people and running away with their money. With their connections and intimidation techniques, they have kept their reputation clean on the internet. But there’s only so much a company could do to hide the truth. Even after removing dozens of complaints from the internet, there are many complaints still online.
If I had found these complaints earlier, I would have been able to save my business and myself from a lot of financial trouble. They cost me thousands of dollars and they didn’t feel any remorse for their deeds.
I don’t know for how long they would be up, because Seek Capital keeps taking them down using fake DMCAs. On Better Business Beauro, they have a whopping 31 complaints, from which only 7 are resolved! And for being accredited on BBB, they have answered all of the complaints but resolved less than 25% of them. They have given illogical answers and responses to the customer’s complaints so that the complaint is listed as “Answered”.
Here are some of those complaints:
They are mobsters
I contacted Seek Capital for my recent LLC, as I needed some funds for my startup. After the submission of the paperwork, Seek Capital contacted me quickly and said that they would love to provide me with a loan and secure credit cards. I completed the paperwork and a few hours after submission they told me that there would be a $99 fee for the application. Moreover, they added that an additional “finder’s fee” of 11% on top of the loan will be needed. After hearing this I asked them to cancel the application and they instantly told me that I owe them $495 in termination fees. And threatened me that if I don’t pay it under 21 days, they will pass on this case to the “collections”. They are mobsters and money hoggers, I didn’t choose to get into this dirty mess that I’m in. Please stay away from these criminals fraudsters.
Overcharged me cause of emotional reasons
Seek Capital misused my personal information and overcharged me for being rude to one of their representatives. They guaranteed that they would get me approval for a credit line for $XXX amount, however, I received only the 70% of what I applied for. Not only that, they applied for 9 credits and charged me a lot of money for just that. They say that they have work relation with banks but when I called each bank in the area all of them denied that they have ANY relationship with Seek Capital. When I told the company that I would get the documents verified by my lawyer, they bluntly tried to convince me not to do that. They stated that “it would drop my credit” if I do that. I told them that I have changed my mind and I would like a refund, they refused to give me one. And they charged me an additional 12% out of spite.
Worst billing ever
Seek Capital is run by scumbags and this company is nothing but a scam. I and my business partner thought that we were improving our business credit but later on, we found out that it was personal credit. We wanted a simple loan and Seek Capital tried to give me a fucking credit card. They stated that the service is free and they would not charge me a dime until the process is approved. We were told that we can cancel it when we want. Seek Capital sent me an invoice of $995 for their so-called “service” and now they are threating us to either pay the money or they will send my file to the collection. I would not recommend or even mention this company to anyone, they are going to ruin your credit score and make your life hell. Doing business with them has been one of the worst decisions of my life.
Employees tell the truth
After searching the internet I found out that the employees of Seek Capital also suffer. There are dozens of reviews of employees to Seek Capital who have shared their story on the internet. I believe Seek Capital doesn’t even treat its employees properly. Those who must have raised their voices against their scams at some point have been fired or punished as well.
In order to cover them up, Seek Capital has posted a lot of fake reviews. I have shared some of the employee reviews down below:
Reading scripts all day
7th March 2019 – Funding Advisor at Seek Capital
I worked for more than a year as a full-time employee at Seek Capital. They provide a good space and parties are done often as well. But the commission is too low. They will tell you that you can earn a great amount of money from the sales commission but those are just pretty lying. They train their employees on verbalism and make them read a single script to ALL the sales prospects. There are no prospects of growth in this company as an employee and the CEO’s work ethic is just despicable. And it is quite difficult to balance your work life and personal life when working here. It is just a big hassle.
8th December 2017 – Funding Advisor at Seek Capital
I used to work at Seek Capital as a Funding Advisor and this has been the worst experience in my whole life. There is really no benefit or “pro” of working at this fake company. These guys are just here to make money and don’t care about the employees’ health, clients, etc. The management is extremely poor and they treat everyone differently, the more gifts you give them, the better you will be treated. Hard work is not appreciated here and the growth prospects are negligible. They need to work on their values as well. The company ethics and the quality of the employees are highly questionable.
I want the CEO Roy Ferman to look in the mirror and ask himself about his karma. The kind of treatment they give to their employees is highly unethical and it is something that should be addressed as soon as possible.
An Honest Opinion
15th August 2018 – Anonymus Employee of Seek Capital
Ryan Kelly is an awesome guy and the location is alright but other than that I did not like a single thing about this company. The attitude of fellow employees (and especially the managers) is extremely rude and I find it difficult to be communicative with them on any instance. Be ready to spend a lot of money on parking because the parking at Seek Capital is horribly overpriced. If you fail any of their sky-high expectations then a ton of bad words and phrases are on your way. The training system at Seek Capital is not that good too, the employee will have to use a lot of commons sense for doing unusual tasks. They imply their own weird tactics on the employees and honestly, it is really uncomfortable. My advice to the management will be that they should improve themselves. I had a 3 year+ sales experience and had a great track record, but when I started working at Seek Capital they treated me like a newbie. They do not give you any good prospects or potential clients and it is frustrating as hell. I understand that trusting a new guy with a good leader might require some trust, but with the leads that weren’t profitable at all, I was just confined in low sales. Even after trying my best it was difficult for me to make any sales in the first few weeks as the management gave me the worst leads in the market. Such behaviour is really disappointing and any new hire will have self-esteem issues if they start working to Seek Capital.
14th October 2018 – Anonymus Employee of Seek Capital
I used to work at Seek Capital and they are big liars! I can’t think of any benefits of working here, as there aren’t any. They don’t pay the employees on time and there is always some “technical issue” in their payment system, which delays the payments of employees. THEY DON’T KEEP THEIR WORD!!! They hired a CFO and he left the company in a couple of weeks because the company did not pay him his commissions. They do the same thing will all of the sales staff as well. Some of the sales employees get their commission, some get partial commission and most get none! The only advise I would give to the management is to not break promises. These people don’t value the sheer amount of work that goes into making a sale and not paying commission is not something that can be ignored. Some people work their asses off just to make ends meet and Seek Capital doesn’t pay them their well-deserved commission.
There are many other reviews of Seek Capital on the internet which show their true faces. However, I can’t list all of them here. These guys should rot in hell for the kind of demons they are. I haven’t seen any other company not pay the commissions of their sales team and treat their employees like shit. The worst fact about it is that such companies prosper in today’s world and people don’t speak against them.
Beware of Seek Capital
My personal experience with Seek capital opened my eyes. I had heard about financial scammers but now I have become a victim of one. It’s a sad fact that a huge financial fraudster organization is able to rob people and operate freely without facing any repercussions.
They have already ruined my business. I just hope that this article will help you or someone else. I wanted to raise awareness against this corrupt organization. And seeing the number of negative reviews of their customers and employees, it is clear that they are a total criminal organization.
Do anything as you wish but be wary of Seek Capital. If possible, alert others too.