Complaint / review text:
My company was solicited by IMCA Capital with a mailing containing a "credit card" offering a $150,000 line of credit. When we pursued it, the customer representative assigned to us, Felicia, confirmed that we were eligible for such financing. When we attempted to use the 'line of credit', we provided all of the requested paperwork, both business and personal documentation. At the end of the data collection process they determined that we did not meet the profile to receive the original terms, however could offer a shorter term financing that was actually in the form of a lease. The rates associated with this were over 20%. We declined to entertain this 'counter offer', however discovered they had ACH debited our bank account.
We contacted IMCA Capital demanding a return of our funds. They submitted our request but have not done so yet. After reading the other negative experiences it is clear this is a common practice by this company. IMCA Capital is existing under technicalities designed to intentionally defraud consumers. All of the representations are designed to lure you into providing your banking details only to switch the offer at the 11th hour to something you would have never considered, while helping themselves to your bank account. We will continue to pursue this matter and encourage anyone else who has had this experience to do so as well.