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08-15-2023, 08:57 PM #1
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- Jun 2018
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Clover adv
Does anyone who funds and pulls under ”CLOVER ADV”
had 2 clients that i have renewed multiple times
that were tricked by this company
in each situation the client was promised a big line of credit
if they took a smaller advance and payed off in 2 days they would have the line of credit.
iam not a funder but unfortanetly this caused me 2 refis
because they missed payments because clover adv drained their accounts
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08-15-2023, 11:36 PM #2
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- May 2014
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- California
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- 344
I have a merch that clover over pulled by 12k and refuses to return it and refuses to issue a zbl. Will not answer the emails from the merch.
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08-16-2023, 08:15 AM #3
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- Jun 2018
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re
Last edited by BROKER TIME; 08-16-2023 at 08:21 AM.
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08-16-2023, 11:33 AM #4
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08-16-2023, 11:51 AM #5
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08-16-2023, 12:03 PM #6
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08-16-2023, 12:32 PM #7
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- Jun 2018
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clover.JPG
attached is how they debit and deposit
it doesn't show a bank name
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08-16-2023, 01:48 PM #8
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- Feb 2017
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- 3,429
Have the merchant contact the bank to run a trace on the ACH to find out the "hidden" information. It's all a paper trail. In the meantime, they can also tell the bank that the ACH outbound was fraud. Mention r08.
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08-16-2023, 05:17 PM #9
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- Jun 2018
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havent found a name yet
but found out what bank they are using
they are using the address of
clover advance group llc
111 john street new york ny 10005
still trying to find out who runs the shop
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08-17-2023, 12:59 PM #10
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- Jun 2018
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08-21-2023, 08:17 AM #11
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- Apr 2023
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- 42
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08-21-2023, 10:18 AM #12
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08-21-2023, 07:22 PM #13
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- Jan 2017
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- 27
That's funny. Clover did something similar to a client of mine as well before we got them funded. They also just sent me a threatening email thinking I* started this thread.
If the merchants I've spoken to are telling the truth - then Clover has done things like you are describing to them as well. In fact the name Clover keeps making me think of the POS system that also does loans, which is perhaps why they picked this name to begin with.
I am not an attorney, I can not state that what they do is fraud, but in my book, in my opinion 1.499%, 10% to 30% fees, and 30 day terms are abusive. If that term is too strong I just all around think "funders" that do that are heartless and mean.
Clover does not seem like a company I would ever want to refer any of my clients to. Would love to hear their stance on this.
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08-28-2023, 08:03 AM #14
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- Apr 2023
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- 42
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08-28-2023, 02:54 PM #15
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- Apr 2017
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- 1301 NJ-36, Bldg#2, Ste#5, Hazlet, Nj, 07730
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- 143
They are not tHE Same entity.
Last edited by GoldStandard; 08-28-2023 at 03:07 PM.
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08-28-2023, 03:11 PM #16
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08-28-2023, 03:31 PM #17
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10-04-2023, 10:02 AM #18
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So now Clover Advance Group is filing in the NY courts. Someone by the name of Matthew Robertson is signing off on the affidavit, can't find anything about him. There's "Robert Loch" from Summit who's involved as well as a "David Collins" and "Douglas Wood" who emailed a term sheet from "Concord Venture Capital Group" with a LOC of 24 months at 4% and the remainder at 8%. The "David Collins" phone number is linked to "Anne Starks" or "Anne Starkley" with a 214 area code.
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10-04-2023, 01:51 PM #19
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- Jan 2014
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- 1,375
If they use Clover system to accept credit cards it can be them, they give advances to clients based on credit card processing sales. But It can also just be another mca company using the Clover name purposely since its well knows for credit card processing equipment. You can also white label an ACH so it can be anyone
Last edited by Sachip24; 10-04-2023 at 01:53 PM.
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10-05-2023, 07:02 AM #20
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- Aug 2018
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- 812
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10-06-2023, 03:10 PM #21
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- Jan 2014
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