PH 281.352.6032 A. DrayNow Evan Noll - Director of MarketingEmail:[emailprotected], CoreFund CapitalNicolette Cohen -Marketing Administrator[emailprotected], Cision Distribution 888-776-0942 Trucking is a community-based industry chances are, you have a friend whod be willing to lease your truck(s) under their authority. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE. Customer Reviews are not used in the calculation of BBB Rating. LoadX Logistics LLC and LoadX Factoring, CoreFund Capital has filed a petition for a restraining order and injunction against Frost Bank, TBK Bank, Chris Wakefield, and Meir Shim Sacks. Required fields are marked *. WebCoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring.
UCCs are regulated by law and all parties involved in a UCC filing must follow these regulations. 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. Thunder Funding is one of the newer companies on this list, but that doesnt mean it isnt one of the top factoring options available. Even when you contact their customer service, it can be difficult to determine exactly what fees you will be paying. Freightwaves has done some reporting on the CoreFund case and LoadX Factoring has a great page of day-to-day updates on their website if youve missed any information. Read More Business Details and See Alerts, International Association of Better Business Bureaus.
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. Every month 400 people find a job with the help of TruckersReport. CoreFund Capital has filed a petition for a restraining order and injunction against Frost Bank, TBK Bank, Chris Wakefield, and Meir Shim Sacks. If you provide me with your company name and contact information, we will be getting terminations of the factoring agreement, UCC3 Lien Terminations, Revocations of the Notice of Assignment to your account debtors/customers, and confirmation of any amount owed to CoreFund or owed to you by CoreFund. However, a debtor or, whose deficiency is eliminated or reduced under Section. Operating Status Active. With each companies' customers being truck drivers, both services go hand-in-hand with one another. In theory, customers are able to get up to 97% of the value of their invoice upfront. The petition states that CoreFunds, have been wrongly shut down. (d) [Recovery when deficiency eliminated or reduced.]. As a matter of policy, BBB does not endorse any product, service or business. If you owe money, we will make sure that you agree on that amount and then we will consider making payment into the court registry or their lawyers trust account. The two attorneys we suggest are Jason Medley and David Jencks. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. This difficulty is exacerbated by the poor communication and poor customer service that a number of users report. Feel free to pass this information along as you see fit. Learn more about it here. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. , an assignee shall seasonably furnish reasonable proof that the assignment has been made. Plus, here are some additional features that make RTS a good choice for owner-operators: When asked why they chose RTS for their freight factoring, customers often point to the companys low rates and fast payments. CoreFund, Inc. | Copyright 2018 - 2021 |. It will take a little time for the receiver to get into the offices, get access to accounts, etc, but the hard part is over. IMPORTANT: WE ARE RECEIVING MORE AND MORE CALLS FROM TRUCKERS STATING THEY ARE RECEIVING CALLS FROM FACTORING COMPANIES THAT CLAIM THEY HAVE A SPECIAL AGREEMENT WITH THE COREFUND RECEIVER TO GET YOU RELEASED FASTER THESE ARE SHADY TACTICS THAT ARE NOT TRUE. The news about this case is coming out fast and furious, so keep a close eye on it. Frost Bank did freeze CoreFunds operating account, and CoreFund believes TBK Bank will do the same. WebFounded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. They also offered a lower rate and they have an app that allows you to process your loads and check the status. With a commitment to clients and a customized approach, CoreFund combines their cash flow solutions with a superior level of care and service. We at LoadX Factoring are working hard to help as many CoreFund clients as possible. Our agreement: https://loadxfactoring.com/terms-and-conditions/, Our application: https://loadxfactoring.com/loadx-factoring-application/. The hard part is over and the judge appointed a receiver in the CoreFund case. However, late Thursday, Parker County, Texas, District Judge Graham Quisenberry appointed a receiver on behalf of CoreFund, which may help truckers gain access to funds more quickly. There has to be a legal way to defend my business without being force to go down with corefund please help. 4) No RipOffReport.com reports filed Melissa Harris joined CoreFund Capital as vice president. Loss caused by a failure to comply may include loss resulting from the debtors inability to obtain, or increased costs of, alternative financing. Our credit checks are instant through our online portal. CoreFund executives have not issued a statement about the factoring companys future. According to the receiver, all CoreFund staff are back in the offices today and working with the receiver to begin to reconcile accounts and payments.
window.googletag = window.googletag || {cmd: []}; First, none of the information below constitutes legal advice, and you should consult an attorney. Well guide you through the process. WebCoreFund Capitals services include: Non-recourse factoring programs Same-day payments Full advance programs Discount fuel cards 24/7 online account access Extended hours, including Saturday funding No minimums No long-term contracts He will need 1) a copy of your CoreFund factoring agreement and 2) your original UCC1 filed by CoreFund against your assets. 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 you are owed money, we will likely simply reserve our right to seek it later. Melissa Harris joined CoreFund Capital as vice president. altLINEs services and advantages include: According to altLINEs customer reviews, the companys customer service is outstanding. 3040 Post Oak Blvd., Suite 1300 | Houston, TX 77056-6560 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). CDL Grad, No Experience CoreFund is a wholly owned subsidiary of GMA Fund LLC, the holding company for the Shim Sacks Family Legacy Trust, which he created in October 2014. WebAbout us CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. 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()); Apply Now! Several customers are happy with eCapital, however, so it might still be a good fit for some owner-operators. Customers have complained to BBB alleging the business does not answer the phone, or respond to emails and have stopped paying their customer's invoices. Contact information for Attorney Jason Medley: Jason M. Medley Heres a great list of the top 50 logistics companies in North America. 4 days ago 10 trucking companies that used their services were having issues. Important Cautions Regarding Forward-Looking Statements. Todd Waller, former business development officer at CoreFund Capital, was among those fired. PERSONS ENTITLED TO FILE A RECORD. Jason is able to send this demand letter for you if you request it. googletag.pubads().enableSingleRequest(); They provide factoring services for these industries: transportation; oil & gas; distribution; manufacturing; staffing; and technology. Apply Now! Attorney Jason Medley will be filing an emergency intervention and involuntary receivership. The law firm representing him and CoreFund, Warren Fonville of Fort Worth, Texas, did not respond to FreightWaves request seeking comment. Some companies also offer flat rates. This partnership aims to provide the best solutions to these questions for truckers everywhere. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. CoreFund Capital, a factoring company based in Weatherford, Texas, went dark the week of July 18, 2022 with no warning or communication to clients or the public. 2) No BBB accreditation Heres the latest, according to Freightwaves: Jason Medley, an attorney with Spencer Fane told some of the affected companies about the appointment of the trustee yesterday: This means that the receiver can act on behalf of CoreFund to post UCC1 and assignment notices and negotiate paymentsAlthough the effect is not immediate the recipient still has to formally enter the process by paying a deposit, etc. Get a reliable factoring company that doesnt require contracts or charge hidden fees. 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()); Sort. As of 7/24/2022, Frost Bank and TBK Bank have been served, but Wakefield and Sacks have not according to court records. 24 were here. 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. Web4. 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. WebCoreFund Capital LLC, an invoice factoring company, provides business and cash flow solutions through full service invoice factoring.
All trademarks are the property of their respective owners. CoreFund is the only factoring company that has truly shaped their services, operations, and technology to fulfill their clients' needs. CoreFund Capital is the premier full-service freight bill factoring company in the USA. Founded Date 2015. Q. The essential point to remember is that factoring should not be confused with lending. googletag.enableServices(); The following freight factoring companies have been selected according to feedback from carriers and owner-operators and then vetted by industry experts. These are all points that help put RTS on the list of top freight factoring companies. Werner, Erin
Founded in 1995, Apex is one of the most established factoring companies in operation. Additionally, we are saddened and sickened by how this is impacting our clients who we consider family and we are legally unable to do anything to help as they struggle to stay in business.. That means you can see exactly what you are getting into in terms of pricing before you make any kind of commitment. In order to make the process a little easier, DAT has reached out to several experts to get their feedback on the best. (g) [Limitation of security interest: noncompliance with Section 9-210.]. The company also has complex contracts and they can make it difficult to leave your contract. 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. This may be good news as it may allow for a faster path for removing UCCs and NOA to allow clients to sign on to a new factoring company without issue. Porter offers flexible factoring services with no long-term contracts or commitments and has overwhelmingly positive reviews. In fact our agreement is online for the world to see. In fact, the company was started by real truckers who were frustrated by delayed payments. googletag.pubads().collapseEmptyDivs(); (e) [Statutory damages: noncompliance with specified provisions.]. Please be careful with those saying they can.
What if I have invoices that need to be sent in? (a) [Other law governs alienability; exceptions.]. If you want to factor with LoadX Factoring the rate is 3.5% non-recourse, month to month, free same day and next day pay, no hidden fees. WebAbout us CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. The company was founded in 2011 to help carriers and owner-operators maintain a positive cash flow while growing their business. CoreFund is a wholly owned subsidiary of GMA Fund LLC, the holding company for the Shim Sacks Family Legacy Trust, which he created in October 2014. It has been sent. WebSuite 900, Dallas, TX 75243. Founders Meir Sacks. Operating Status Active.
As soon as we know the contact information for the receiver, if one is appointed, we will post it here asap. 
Because CoreFund is closed and is not replying to any request, it is reasonable to assume they will also not be sending NOAs upon request either this possibly allowing brokers to send payments elsewhere since they do not have a current NOA as requested. WebCategories: Factoring Services,Financial Services. Many people find this to be less convenient than simply applying online before speaking to a representative. See the below communication from Attorney Jason Medleys office for anyone interested in hiring him for this. According to court documents, Shim Sacks founded CoreFund Capital in 2014. Our best advise is to speak with an attorney. Business And Commercial Financing CoreFund, Inc. offers highly personalized service and help cut through the red tape that is often involved in securing business loans from banks and other lending institutions. 
It not only details their actions, but also provides their home address., CoreFund Capital Facebook post, 7/23/2022 at 10:00pm cst. As part of the original trust, Shim Sacks granted special power of appointment to his brother, Yaakov Jacob Sacks. Yes. Before you become an O/O you should take business classes and have atleast 20k in the bank. At that point they will be able to begin the process of terminations. Save my name, email, and website in this browser for the next time I comment. Normally, this would be an option. Your email address will not be published. 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.
whose deficiency is eliminated under Section, may recover damages for the loss of any surplus. Quasar Capital Partners is a Texas factoring company headquartered in Dallas that serves small businesses throughout the U.S. and Canada. 9-625. But a buyout, or any other type of method through normal means, is impossible right now because there are no staff to process this. 3) No TheTruckersReport.com comments I have spoken to the attorney for CoreFund. WebHere at Core Fund Solutions, our emphasis is to provide you with timely, accurate and cost effective solutions to meet your fund administration needs. (a) [Judicial orders concerning noncompliance.]. Quasar Capital Partners is a Texas factoring company headquartered in Dallas that serves small businesses throughout the U.S. and Canada. Silver Spring, MD 20910. Below youll find an in-depth overview of each company. Contact Email info@corefundcapital.com. Please watch out for the predatory factoring companies. Operating Status Active. Everyone trying to call their account representatives or the general phone number were left getting only voicemails or mailbox full notifications. Company Type For Profit. Section (d) states that if the Purchaser deems itself insecure with respect to the prospect of repayment or performance of its obligations then this will constitute an event of default. Site: corefundcapital.com.
Need to file a complaint? Can any factoring company get me a CoreFund release faster? Whether you do business with us at LoadX Factoring in the future or not, we are here to help as much as we can. Please contact an attorney to help you in the matter if you are affected by this CoreFund shutdown. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. DrayNow carriers can utilize CoreFund Capital as a quality factoring partner while CoreFund clients can sign up for DrayNow's hassle-free freight marketplace. We are also working on getting further guidance from an attorney who specializes in this industry. window.googletag = window.googletag || {cmd: []}; This is normal for factoring companies and acts as a form of protection for the factoring company in case of client or debtor default. the court order brings us much closer to meeting the needs of CoreFunds factoring clients.. 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). Q. DrayNow is the first real-time marketplace for matching intermodal freight with truck drivers. With a commitment to clients and a customized approach, CoreFund combines their cash flow solutions with a superior level of care and service. According to court filings, Jacob Sacks exercised this special power of appointment he holds under the original trust and transferred the trusts assets, including the holding company that owns CoreFund, to a new trust he created, the Sacks Family Grandchildrens Trust, on July 12. This CoreFund issue is exactly why we started LoadX. to their BBB profile. Any future information received from the Send me an email. This provides a frictionless way to get truck capacity from drivers. CoreFund Capital is the premier full-service freight bill factoring company in the USA. A hearing is schedule for tomorrow, Wednesday 7/27/22. When you sign up for the trial on our website and talk to a representative, make sure you mention that youre a former CoreFund client so they make sure you get the extended free trial. If youre looking for a new factoring service and youre coming from CoreFund, give us a call +1 (410) 204 2084. "We believe this to be a gamechanger for our future acquisition strategy. Some companies also offer flat rates. Our Take: You can file an amendment to terminate CoreFunds UCC filing against your company if CoreFund fails to file the termination. Thats our first goal. They provide factoring services and asset-based lending for Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Their customer first focus is very evident, regardless of who you deal with at the company.. 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. I feel for these guys because many are living load to load right now, but we legally cant pay the carriers directly because we have to pay CoreFund first.. I have provided information to them in hopes they can also put pressure on Shim Sacks and Chris Wakefield, the parties responsible for shutting our doors with no plan of how to take care of the carriers. }); I told the judge that when elephants fight, the whole world shakes, Medley told FreightWaves. This software can help with managing your factoring agreement with RTS itself as well as other elements of your operation. On Behalf of Jason M. Medley CoreFund Update Users point to OTR Solutions professional and personable customer service and quick response time as particularly exemplary.
Please try again later. WebCoreFund Capitals services include: Non-recourse factoring programs Same-day payments Full advance programs Discount fuel cards 24/7 online account access Extended hours, including Saturday funding No minimums No long-term contracts Corefund capital is a factoring company that offers same day pay on invoices that companies such as my self get from other business we do a service for. 6-11 Months At this moment there is no way for a factoring company to arrange buyouts or releases until this is resolved. var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); INNO is a global logistics and freight forwarding company serving a large customer base in the United States that includes major well-known retailers and other companies that import goods to the United States, export goods from the United States to other countries, or require other supply chain services, including warehousing. Filter (0 active) Filter by. *Disclaimer: Some of the links on this website are affiliate links, which means that DAT may earn a commission if you click on the link or factor with particular provider. ALIENABILITY OF DEBTORS RIGHTS. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. In addition to any damages recoverable under subsection (b), the.
A recipient of a request under Section 9-210 which never claimed an interest in the collateral or obligations that are the subject of a request under that section has a reasonable excuse for failure to comply with the request within the meaning of this subsection. CoreFund Capital LLC, a receivables finance company, is a premier provider of financial services, providing working capital for all size businesses through invoice factoring. WebHere at Core Fund Solutions, our emphasis is to provide you with timely, accurate and cost effective solutions to meet your fund administration needs. Site: corefundcapital.com. googletag.cmd.push(function() { which never claimed an interest in the collateral or obligations that are the subject of a request under that section has a reasonable excuse for failure to comply with the request within the meaning of this subsection. She is an award-winning journalist known for her investigative and business reporting. Your name will not be used in a follow-up article without your permission. Headquarters Regions Dallas/Fort Worth Metroplex, Southern US. may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance. Customers find the team to be both knowledgeable and helpful, always willing to go the extra mile when offering support. Harris is experienced in a range of factoring operations. 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. 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. Truly a great group of people. More updates coming. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. Also needed is a revocation of a notice of assignment that is sent to the truckers customers instructing them to make a payment to CoreFund, which in turn pays them. (b) [Agreement does not prevent transfer.]. Q. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. WebCoreFund Capitals services include: Non-recourse factoring programs Same-day payments Full advance programs Discount fuel cards 24/7 online account access Extended hours, including Saturday funding No minimums No long-term contracts WebCoreFund, Inc. | Business Finance & Lending! fails to comply with a request regarding a list of collateral or a statement of account under Section. Legal Name CoreFund Capital, LLC. When typing in this field, a list of search results will appear and be automatically updated as you type. Keep in mind however that UCC Section 9-513 Termination Statement limits this ability if the financing statement on the UCC covers accounts and chattel paper. WebHere at Core Fund Solutions, our emphasis is to provide you with timely, accurate and cost effective solutions to meet your fund administration needs. (d) [Person entitled to file certain amendments.]. In order to make the process a little easier, DAT has reached out to several experts to get their feedback on the best factoring companies for truckers. The court will consider appointing a receiver. If this is done, the receiver will be able to process buyouts and terminations. Because of the event of default the agreement can be terminated. Sort. At DAT, we believe that OTR Solutions is the best factoring company out there and the feedback weve received from owner-operators and industry experts supports that. The petition is asking the Parker County, Texas District Court (. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Additionally we are saddened and sickened by how this is impacting our clients who we consider family and we are legally unable to do anything to help as they struggle to stay in business. Sort. BBB Business Profiles are subject to change at any time. Instead, you need to speak directly with a sales representative who will discuss your business and your options with you. Our President, Justin McKibben, has spent much of the weekend on the phone directly with carriers trying to help any way possible. With a commitment to clients and a customized approach, CoreFund combines their cash flow solutions with a superior level of care and service.
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