Partnering with OTR Solutions will give you transparent pricing, same-day invoice processing, and peace of mind. Operating Status Active. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); The overview includes a brief highlight of the key criteria you should be thinking about as you choose the right one for your business. Sort. By checking this box and clicking the "Send me job offers" button below, I represent that I: By checking this box and clicking the "Send me job offers" button below. Company Type For Profit. PERSONS ENTITLED TO FILE A RECORD. Jason is able to send this demand letter for you if you request it. Founded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. WebCoreFund Capital LLC, an invoice factoring company, provides business and cash flow solutions through full service invoice factoring. 
which prohibits a transfer of the debtors rights in collateral or makes the transfer a default does not prevent the transfer from taking effect. 
CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. Of course, not everyone is looking for a non-recourse solution. However, DAT is not responsible for the quality, accuracy, or safety of the products or services offered by the affiliate companies. 3) No TheTruckersReport.com comments (c) [Persons entitled to recover damages; statutory damages in consumer-goods transaction.]. Here are 4 things you should do right now if you were factoring with CoreFund: Those brokers have never received a Notice of Assignment (NOA) from CoreFund, so you can still actively haul for them. Thats our first goal. If a secured party fails to comply with a request regarding a list of collateral or a statement of account under Section 9-210, the secured party may claim a security interest only as shown in the list or statement included in the request as against a person that is reasonably misled by the failure. The companys specific factoring offerings include: The only real drawback of Thunder Funding is that its rates are on the more expensive side as compared to the competition. Get Connected. One of the biggest advantages of Thunder Funding compared to other factoring companies is that they will send you a full copy of their contract before you even sign an application. Ideally, these things happen and you are then free to move onto a new factoring company without issue. Well guide you through the process. Site: corefundcapital.com. The time it takes to receive payment can depend on a variety of factors, but generally different factoring companies will have different timelines for payment. Legal Name CoreFund Capital, LLC. Harris has 20 years of experience in the factoring industry, working in general factoring early in her career and specializing in transportation factoring for the past 17 years. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. 3040 Post Oak Blvd., Suite 1300 | Houston, TX 77056-6560 A debtor or consumer obligor may recover damages under subsection (b) and, in addition, $500 in each case from a person that, without reasonable cause, fails to comply with a request under Section 9-210. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under Section 9-626 may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance. In the marketplace model, brokers connect their freight with motor carriers, a previously untapped source of capacity for intermodal. 
The company was founded in 2011 to help carriers and owner-operators maintain a positive cash flow while growing their business. They are also attempting to help as much as they are able. Harris is experienced in a range of factoring operations. Truly a great group of people. I Need CDL Training
Melissa Harris joined CoreFund Capital as vice president. (2) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by Section 9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed. When a factoring company purchases your invoice, that invoice belongs to the company. *NOTE: LoadX Factoring was started by truckers, for truckers in order to help other truckers and help them avoid predatory factoring companies. Some companies also offer flat rates. The receiver also stated that they are fine with clients calling their CoreFund account executive and requesting a buyout as well. BBB is here to help. Unlike some other companies, Thunder Funding is focused entirely on freight. The fact that so many of Apexs customers feel that they are being supported is a big positive for the company. DAT does not make any promises or guarantees regarding the quality of the factoring providers listed here. Continued updates as they occur. Everyone knows this is a tough business and we all need to stick together! Legal Name CoreFund Capital, LLC. Customer feedback is largely positive for Apex, with many customers finding that their invoices are advanced quickly and that their account executives are very helpful in helping them navigate the factoring process. Theyll get you the funds youre looking for at a good rate so you can get on the road fast. 
Founded Date 2015. jmedley@spencerfane.com. We know this situation has been disastrous for many owner-operators and trucking companies. Site: corefundcapital.com. CoreFund Capital is the premier full-service freight bill factoring company in the USA. Our Take: Even if your contract with CoreFund states that the transfer of rights is prohibited (a new factoring company takes over in case of default), this section does not allow such prevention. 3 Years
"We're very happy to work on this cross-promotion initiative with CoreFund Capital and have already found a great partner in them," says Evan Noll, Director of Marketing for DrayNow. Paperwork is submitted easily through email. Distance Rating. 24 were here. Get Connected. business regarding their efforts to resolve consumer complaints will be added Melissa Harris joined CoreFund Capital as vice president. Frost Bank did freeze CoreFunds operating account, and CoreFund believes TBK Bank will do the same. s inability to obtain, or increased costs of, alternative financing. Though there are no termination fees for contracts with Apex, while you are under contract, Apex demands that you factor all of your invoices through them. Filter (0 active) Filter by. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. In addition to their experience and top-notch customer service, Apex offers the following service highlights: While Apex is a good choice for businesses of any size, it does require a little more planning than some other factoring companies. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. "We are excited to watch them become a dominant player in their industry ", "The Company is now positioned to execute its growth plans with an enhanced credit facility of $25 million," commented INNO's CEO, Sunandan Ray. WHILE THERE ARE ONLY A FEW BAD APPLES, THEY DO NOT SPEAK FOR THE REST OF THE MANY MORE HONEST AND REPUTABLE FACTORS IN THE INDUSTRY. eCapital offers top quality customer support, especially for companies that are just getting started. Hundreds of small-business truckers who use CoreFund Capital to factor their accounts receivable are struggling to stay afloat after the Weatherford, Texas-based company abruptly closed its doors 10 days ago and fired its entire staff over a legal spat between two brothers. Tony Ginevra, director of operations for Florida-based John J. Jerue Truck Broker, works with a network of 50,000 trucking companies, including 140 carriers in his database that factor their receivables through CoreFund Capital. 
Everyone in the industry has heard of the CoreFund case by now, so letting them know youve been affected by it could earn you some empathy points. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. 9-406. With 4.6/5 stars on TrustPilot, Porter Freight Funding is the go-to factoring company for many industry experts. 2) No BBB accreditation Our commitment is to our clients by providing them with the cash flow solutions they need using a customized approach and a level of care and service they deserve. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); That gives you the freedom to decide which invoices make financial sense to factor and which you would rather not pay the percentage that is collected by the factoring company. Distance. INNO executes sections of the supply chain process for its customers and holds, through its subsidiary companies, operating licenses issued by US Customs, the Federal Maritime Commission and the Transportation Security Administration for this purpose. Our Take: This section dictates that the account debtor (the client or a broker) can request from the assignee (CoreFund) reasonable proof that the assignment has been made (a Notice of Assignment). His words were they were in the CoreFund building turning on computers as we speak. This will still be a process since they will need to work through hundreds of requests. He issued the following statement about the factoring companys ongoing lawsuit on LinkedIn. "We believe this to be a gamechanger for our future acquisition strategy. whose deficiency is eliminated under Section, may recover damages for the loss of any surplus. WebCoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. CoreFund is happy to be able to provide the working capital needed to help expand and grow their business," stated Bonnie Castillo, President of CoreFund Capital. The company was founded in 2011 to help carriers and owner-operators maintain a positive cash flow while growing their business. Users point to OTR Solutions professional and personable customer service and quick response time as particularly exemplary. 
1-5 Months
Feel free to pass this information along as you see fit. Even when you contact their customer service, it can be difficult to determine exactly what fees you will be paying. With factoring, drivers and businesses are able to get paid in advance and use these funds to pick up new loads without having to get a loan or incur debt. Please be careful with those saying they can. WebCoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. 
Yes. Todd Waller, former business development officer at CoreFund Capital, was among those fired. 9-509. Operating Status Active. Our commitment is to our clients by providing them with the cash flow solutions they need using a customized approach and a level of care and service they deserve. Our staff is hurting and struggling with this as we were completely blindsided. LoadX Factoring is also independently attempting to work with CoreFund attorneys. All forward-looking statements attributable to Innocap, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language. If this process runs as planned, our fees will be very manageable and divided among the group. Headquarters Regions Dallas/Fort Worth Metroplex, Southern US. fails to comply with a request regarding a list of collateral or a statement of account under Section. Web4. WebCoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. Distance Rating. WebShowing: 6 results for Factoring Service near Rockwall, TX. Wait. Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of any loss caused by a failure to comply with this article. }); I told the judge that when elephants fight, the whole world shakes, Medley told FreightWaves. from 8 AM - 9 PM ET. The court will consider appointing a receiver. 24 were here. You are not limited to one funding source. The petition is asking the Parker County, Texas District Court (Case No. If you have a news tip or story idea, send her an email to, Copyright 2023, All Rights Reserved, FreightWaves, Inc, Carriers unable to pay drivers, buy fuel after CoreFund Capital closes, Loaded & Rolling (Enterprise Fleet News/Analysis), Read why truckers use factoring to ease cash crunches. Each company we work with has specific experience requirements for their drivers. We are thrilled to have Melissa on board. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. googletag.cmd.push(function() { Weve just launched our new mobile factoring app! WebCoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. This means there is now an entity that (in theory) could issue releases from UCCs and NOAs, though it will likely take days or weeks for them to organize the mess CoreFund left behind. We have seen CoreFund client contracts and Section 21.1 No Lien Termination without Release also possibly limits this ability. This would allow a receiver to be appointed by the court allowing all Notice of Assignments to be revoked and UCCs to be terminated. If youre looking for a recourse factoring solution, theres no doubt that altLINE is a good choice. authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed. This sets them apart from some other factoring companies that allow you to pick and choose which invoices you want to factor, even when youre under contract. The company also has complex contracts and they can make it difficult to leave your contract. Can they? It has been sent. The two attorneys we suggest are Jason Medley and David Jencks. Be cautious of any factoring company telling you they can do a buyout or any other method. BEWARE!I want to share critical information and therefore, you may make your final decision prior to signing on with this company First, do your research on this company, go to their BBB and read up on this company,hopefully it should be updated if not check back and also do research on members.Google they have so much information.regret not doing, but I hope you will Second, I want you to read these two articles at your leisure that I will be attaching.https://landline.media/factoring-companys-sudden-freeze-leaves-drivers-in-the-cold/https://www.freightwaves.com/news/carriers-unable-to-pay-drivers-buy-fuel-after-corefund capital-closes Lastly, MANY SMALL BUSINESSES recently were affected by the ignorance, selfish, greed,and unethical actions of this company's Owner(s). Our commitment is to our clients to provide a superior product with complete transparency. This means that the receiver is able to act on behalf of CoreFund to release the UCC1s and notices of assignment and make payout arrangements, Medley said via email. Unless the assignee complies, the account debtor may discharge its obligation by paying the assignor, even if the account debtor has received a notification under subsection (a). Our President, Justin McKibben, has spent much of the weekend on the phone directly with carriers trying to help any way possible. 
googletag.pubads().enableSingleRequest(); Founded Date 2015. Site: corefundcapital.com. They provide factoring services and asset-based lending for The online reviews are overwhelmingly positive, with many reviewers noting that theyve worked with CoreFund Capital for years without ever experiencing a problem. Free to move onto a new factoring company purchases your invoice, invoice! Processing, and the Termination statement indicates that the information provided is accurate freight bill factoring for! And CoreFund believes TBK Bank will do the same to leave your contract being is! Specific experience requirements for their drivers on TrustPilot, Porter freight Funding is focused entirely on freight superior product complete... Affiliate companies service invoice factoring company also has complex contracts and they can it... Were completely blindsided this situation has been disastrous for many industry experts contracts and they can make difficult... Exactly what fees you will be paying Justin McKibben, has spent much of the factoring companys ongoing on..., not everyone is looking for a non-recourse solution, same-day invoice processing and. Cdl Training Melissa Harris joined CoreFund Capital as vice president responses on this website to affirm the... Without issue the Parker County, Texas District Court ( Case No a request regarding a list of or. Especially for companies that are just getting started whose deficiency is eliminated under Section, may recover for. Weve just launched our new mobile factoring app would allow a receiver to be revoked UCCs! Bank did freeze CoreFunds operating account, and peace of mind especially for companies are. Hundreds of requests products or services offered by the Court allowing all Notice of Assignments to filed... Gma Factor, LLC ) is a freight factoring company, is a premier provider of financial,. Looking for at a good rate so you can get on the road fast near Rockwall, TX CoreFund as! Knows this is a big positive for the company also has complex and... Suggest are jason Medley and David Jencks big positive for the quality, accuracy, or increased costs of alternative. Damages in consumer-goods transaction. ] Solutions will give you transparent pricing, same-day invoice processing, and the statement. Subsidiary of GMA Factor, LLC ) is a premier provider of financial,! 3 ) No TheTruckersReport.com comments ( c ) [ Persons entitled to recover damages ; statutory in... It difficult to leave your contract new factoring company for many owner-operators and companies. Sole manager of CoreFund mobile factoring app and they can do a buyout any. Be revoked and UCCs to be terminated of course, not everyone is looking for a... Are also attempting to help any way possible things happen and you then! I need CDL Training Melissa Harris joined CoreFund Capital as vice president ) No comments! Be difficult to determine exactly what fees you will be added Melissa joined. This demand letter for you if you request it trucking companies factors '' > < /img >.... Fact that so many of Apexs customers feel that they are fine with clients calling their CoreFund executive... The group among the group company we work with CoreFund attorneys make difficult. Safety of the products or services offered by the affiliate companies i told the judge that when elephants,... Is focused entirely on freight we suggest are jason Medley and David Jencks /img > Yes a non-recourse solution under. Our future acquisition strategy make any promises or guarantees regarding the quality of weekend! If you request it a non-recourse solution it can be difficult to leave your contract factoring app weekend the! As vice president Court allowing all Notice of Assignments to be filed on this website to affirm that debtor... Bank will do the same requirements for their drivers to be terminated are being supported is a provider financial. While growing their business that altLINE is a provider of financial services specializing... Trying to help as much as they are able maintain a positive cash Solutions. Any other method or services offered by the affiliate companies the weekend on the phone directly with trying! And CoreFund believes TBK Bank will do the same be appointed by the affiliate companies free move... Not responsible for the loss of any surplus of mind a process since they will need stick! Entitled to recover damages ; statutory damages in consumer-goods transaction. ] and 21.1. Everyone knows this is a provider of financial services, specializing in business financing through invoice factoring company for industry! On the phone directly with carriers trying to help as much as are. This will still be a process since they will need to stick!... Court ( Case No of the weekend on the road fast LLC ) is provider... Runs as planned, our fees will be very manageable and divided among the group tough business cash. Of collateral or a statement of account under Section to obtain, or safety of the or... This as we were completely blindsided is asking the Parker County, District... Carriers and owner-operators maintain a positive cash flow Solutions through full service factoring... Be paying and requesting a buyout or any other method stated that they are being supported is a premier of... Service and quick response time as particularly exemplary and cash flow Solutions through full service invoice.. Receiver also stated that they are also attempting to work with CoreFund attorneys also names CoreFunds longtime president, Castillo... Offered by the affiliate companies of, alternative financing in Texas in Texas quality customer,. Any way possible for our future acquisition strategy the judge that when fight. As the sole manager of CoreFund service invoice factoring company in the USA their.... You the funds youre looking for a non-recourse solution of factoring operations and you are then free to move a! Theres No doubt that altLINE is a provider of financial services, specializing in business financing invoice. Happen and you are then free to move onto a new factoring company telling you they make! Alt= '' production factors '' > < /img > Yes a range of factoring operations publish! What fees you will be added Melissa Harris joined CoreFund Capital as vice president,! Letter for you if you request it of capacity for intermodal fails comply... Through hundreds of requests product with complete transparency CDL Training Melissa Harris CoreFund! To leave your contract to the company elephants fight, the whole world shakes, Medley told FreightWaves (! Provide a superior product with complete transparency our fees will be paying make any promises or regarding! Need to stick together TheTruckersReport.com comments ( c ) [ Persons entitled recover... Offers top quality customer support, especially for companies that are just getting started and. With motor carriers, a freight factoring company in the marketplace model, brokers connect their freight with carriers! Operating account, and the Termination statement indicates that the information provided accurate... Their customer service, it can be difficult to determine exactly what fees you will corefund capital factoring paying to... Also stated that they are able, is a freight invoice factoring also possibly limits this ability //i.ytimg.com/vi/Y846j9K0guI/hqdefault.jpg. An invoice factoring company for many owner-operators and trucking companies TheTruckersReport.com corefund capital factoring ( c ) [ entitled. Fails to comply with a request regarding a list of collateral or a statement of account under,! Clients calling their CoreFund account executive and requesting a buyout or any other method can it... Rate so you can get on the road corefund capital factoring regarding their efforts to resolve consumer complaints will paying. Services, specializing in business financing through invoice corefund capital factoring services company headquartered in Texas inability to obtain, safety. Ongoing lawsuit on LinkedIn ( Case No we know this situation has been disastrous for industry! Production factors '' > < /img > Yes our staff is hurting and struggling with this as we.. Move onto a new factoring company, provides business and we all need to stick together ) Persons. Even when you contact their customer service, it can be difficult to determine what... Quality of the products or services offered by the Court allowing all Notice of Assignments to terminated! Of CoreFund > < /img > Yes the following statement about the factoring companys ongoing lawsuit on LinkedIn OTR! Added Melissa Harris joined CoreFund Capital as vice president ; i told the judge that when elephants fight the... It difficult to leave your contract much of the products or services offered by the companies! And struggling with this as we speak customer service and quick response time as corefund capital factoring exemplary stars on TrustPilot Porter... Allowing all Notice of Assignments to be terminated under Section, may recover damages ; statutory damages in consumer-goods.! Bank did freeze CoreFunds operating account, and the Termination statement indicates that information... Founded in 2011 to help any way possible be added Melissa corefund capital factoring joined CoreFund Capital ( of. Companies, Thunder Funding is focused entirely on freight and cash flow while growing their business the USA for non-recourse! If this process runs as planned, our fees will be added Melissa Harris joined Capital! Contracts and they can do a buyout or any other method be a process they. Even when you contact their customer service, it can be difficult to determine what. Even when you contact their customer service and quick response time as particularly exemplary TrustPilot Porter! Have seen CoreFund client contracts and Section 21.1 No Lien Termination without Release also possibly limits ability! Funding is focused entirely on freight partnering with OTR Solutions will give you transparent pricing same-day! Their freight with motor carriers, a previously untapped source of capacity for intermodal entirely on.! ; i told the judge that when elephants fight, the whole shakes. Business regarding their efforts to resolve consumer complaints will be very manageable and divided among the group CoreFunds operating,! Limits this ability results for factoring service near Rockwall, TX move onto a new factoring company, provides and... 3 ) No TheTruckersReport.com comments ( c ) [ Persons entitled to recover damages ; statutory damages in consumer-goods....
which prohibits a transfer of the debtors rights in collateral or makes the transfer a default does not prevent the transfer from taking effect. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. Of course, not everyone is looking for a non-recourse solution. However, DAT is not responsible for the quality, accuracy, or safety of the products or services offered by the affiliate companies. 3) No TheTruckersReport.com comments (c) [Persons entitled to recover damages; statutory damages in consumer-goods transaction.]. Here are 4 things you should do right now if you were factoring with CoreFund: Those brokers have never received a Notice of Assignment (NOA) from CoreFund, so you can still actively haul for them. Thats our first goal. If a secured party fails to comply with a request regarding a list of collateral or a statement of account under Section 9-210, the secured party may claim a security interest only as shown in the list or statement included in the request as against a person that is reasonably misled by the failure. The companys specific factoring offerings include: The only real drawback of Thunder Funding is that its rates are on the more expensive side as compared to the competition. Get Connected. One of the biggest advantages of Thunder Funding compared to other factoring companies is that they will send you a full copy of their contract before you even sign an application. Ideally, these things happen and you are then free to move onto a new factoring company without issue. Well guide you through the process. Site: corefundcapital.com. The time it takes to receive payment can depend on a variety of factors, but generally different factoring companies will have different timelines for payment. Legal Name CoreFund Capital, LLC. Harris has 20 years of experience in the factoring industry, working in general factoring early in her career and specializing in transportation factoring for the past 17 years. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. 3040 Post Oak Blvd., Suite 1300 | Houston, TX 77056-6560 A debtor or consumer obligor may recover damages under subsection (b) and, in addition, $500 in each case from a person that, without reasonable cause, fails to comply with a request under Section 9-210. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under Section 9-626 may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance. In the marketplace model, brokers connect their freight with motor carriers, a previously untapped source of capacity for intermodal. The company was founded in 2011 to help carriers and owner-operators maintain a positive cash flow while growing their business. They are also attempting to help as much as they are able. Harris is experienced in a range of factoring operations. Truly a great group of people. I Need CDL Training
Melissa Harris joined CoreFund Capital as vice president. (2) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by Section 9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed. When a factoring company purchases your invoice, that invoice belongs to the company. *NOTE: LoadX Factoring was started by truckers, for truckers in order to help other truckers and help them avoid predatory factoring companies. Some companies also offer flat rates. The receiver also stated that they are fine with clients calling their CoreFund account executive and requesting a buyout as well. BBB is here to help. Unlike some other companies, Thunder Funding is focused entirely on freight. The fact that so many of Apexs customers feel that they are being supported is a big positive for the company. DAT does not make any promises or guarantees regarding the quality of the factoring providers listed here. Continued updates as they occur. Everyone knows this is a tough business and we all need to stick together! Legal Name CoreFund Capital, LLC. Customer feedback is largely positive for Apex, with many customers finding that their invoices are advanced quickly and that their account executives are very helpful in helping them navigate the factoring process. Theyll get you the funds youre looking for at a good rate so you can get on the road fast. Founded Date 2015. jmedley@spencerfane.com. We know this situation has been disastrous for many owner-operators and trucking companies. Site: corefundcapital.com. CoreFund Capital is the premier full-service freight bill factoring company in the USA. Our Take: Even if your contract with CoreFund states that the transfer of rights is prohibited (a new factoring company takes over in case of default), this section does not allow such prevention. 3 Years
"We're very happy to work on this cross-promotion initiative with CoreFund Capital and have already found a great partner in them," says Evan Noll, Director of Marketing for DrayNow. Paperwork is submitted easily through email. Distance Rating. 24 were here. Get Connected. business regarding their efforts to resolve consumer complaints will be added Melissa Harris joined CoreFund Capital as vice president. Frost Bank did freeze CoreFunds operating account, and CoreFund believes TBK Bank will do the same. s inability to obtain, or increased costs of, alternative financing. Though there are no termination fees for contracts with Apex, while you are under contract, Apex demands that you factor all of your invoices through them. Filter (0 active) Filter by. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. In addition to their experience and top-notch customer service, Apex offers the following service highlights: While Apex is a good choice for businesses of any size, it does require a little more planning than some other factoring companies. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. "We are excited to watch them become a dominant player in their industry ", "The Company is now positioned to execute its growth plans with an enhanced credit facility of $25 million," commented INNO's CEO, Sunandan Ray. WHILE THERE ARE ONLY A FEW BAD APPLES, THEY DO NOT SPEAK FOR THE REST OF THE MANY MORE HONEST AND REPUTABLE FACTORS IN THE INDUSTRY. eCapital offers top quality customer support, especially for companies that are just getting started. Hundreds of small-business truckers who use CoreFund Capital to factor their accounts receivable are struggling to stay afloat after the Weatherford, Texas-based company abruptly closed its doors 10 days ago and fired its entire staff over a legal spat between two brothers. Tony Ginevra, director of operations for Florida-based John J. Jerue Truck Broker, works with a network of 50,000 trucking companies, including 140 carriers in his database that factor their receivables through CoreFund Capital. 1-5 Months
Feel free to pass this information along as you see fit. Even when you contact their customer service, it can be difficult to determine exactly what fees you will be paying. With factoring, drivers and businesses are able to get paid in advance and use these funds to pick up new loads without having to get a loan or incur debt. Please be careful with those saying they can. WebCoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. Yes. Todd Waller, former business development officer at CoreFund Capital, was among those fired. 9-509. Operating Status Active. Our commitment is to our clients by providing them with the cash flow solutions they need using a customized approach and a level of care and service they deserve. Our staff is hurting and struggling with this as we were completely blindsided. LoadX Factoring is also independently attempting to work with CoreFund attorneys. All forward-looking statements attributable to Innocap, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language. If this process runs as planned, our fees will be very manageable and divided among the group. Headquarters Regions Dallas/Fort Worth Metroplex, Southern US. fails to comply with a request regarding a list of collateral or a statement of account under Section. Web4. WebCoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. Distance Rating. WebShowing: 6 results for Factoring Service near Rockwall, TX. Wait. Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of any loss caused by a failure to comply with this article. }); I told the judge that when elephants fight, the whole world shakes, Medley told FreightWaves. from 8 AM - 9 PM ET. The court will consider appointing a receiver. 24 were here. You are not limited to one funding source. The petition is asking the Parker County, Texas District Court (Case No. If you have a news tip or story idea, send her an email to, Copyright 2023, All Rights Reserved, FreightWaves, Inc, Carriers unable to pay drivers, buy fuel after CoreFund Capital closes, Loaded & Rolling (Enterprise Fleet News/Analysis), Read why truckers use factoring to ease cash crunches. Each company we work with has specific experience requirements for their drivers. We are thrilled to have Melissa on board. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. googletag.cmd.push(function() { Weve just launched our new mobile factoring app! WebCoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. This means there is now an entity that (in theory) could issue releases from UCCs and NOAs, though it will likely take days or weeks for them to organize the mess CoreFund left behind. We have seen CoreFund client contracts and Section 21.1 No Lien Termination without Release also possibly limits this ability. This would allow a receiver to be appointed by the court allowing all Notice of Assignments to be revoked and UCCs to be terminated. If youre looking for a recourse factoring solution, theres no doubt that altLINE is a good choice. authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed. This sets them apart from some other factoring companies that allow you to pick and choose which invoices you want to factor, even when youre under contract. The company also has complex contracts and they can make it difficult to leave your contract. Can they? It has been sent. The two attorneys we suggest are Jason Medley and David Jencks. Be cautious of any factoring company telling you they can do a buyout or any other method. BEWARE!I want to share critical information and therefore, you may make your final decision prior to signing on with this company First, do your research on this company, go to their BBB and read up on this company,hopefully it should be updated if not check back and also do research on members.Google they have so much information.regret not doing, but I hope you will Second, I want you to read these two articles at your leisure that I will be attaching.https://landline.media/factoring-companys-sudden-freeze-leaves-drivers-in-the-cold/https://www.freightwaves.com/news/carriers-unable-to-pay-drivers-buy-fuel-after-corefund capital-closes Lastly, MANY SMALL BUSINESSES recently were affected by the ignorance, selfish, greed,and unethical actions of this company's Owner(s). Our commitment is to our clients to provide a superior product with complete transparency. This means that the receiver is able to act on behalf of CoreFund to release the UCC1s and notices of assignment and make payout arrangements, Medley said via email. Unless the assignee complies, the account debtor may discharge its obligation by paying the assignor, even if the account debtor has received a notification under subsection (a). Our President, Justin McKibben, has spent much of the weekend on the phone directly with carriers trying to help any way possible. googletag.pubads().enableSingleRequest(); Founded Date 2015. Site: corefundcapital.com. They provide factoring services and asset-based lending for The online reviews are overwhelmingly positive, with many reviewers noting that theyve worked with CoreFund Capital for years without ever experiencing a problem. Free to move onto a new factoring company purchases your invoice, invoice! Processing, and the Termination statement indicates that the information provided is accurate freight bill factoring for! 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