Complaints

This profile includes complaints for Funderial's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Funderial

  65 W. 36 ST Suite 901 Manhattan, NY 10018

  
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  Funderial

  65 W 36 St. 12th Floor New York, NY 10018

  
• 

  Funderial

  500 7th Ave New York, NY 10018

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:01/25/2024

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  First, I want to clarify that this company uses several DBAs despite being a single company, which they themselves admitted in text messages they sent me. One of their DBAs is IMS Fund LLC, which granted me a merchandise advance cash loan, something that is very little regulated legally and is not understood as a loan in the eyes of the law, supposedly. Despite asking for the names of the people who contact me, they always refuse, and the representatives never identify themselves, which causes a significant lack of professionalism. On the other hand, in the contract of IMS DBA Funderial, also called Imperial Advance, they display their registered trademark logo, something that is illegal to some extent since their application was denied at the ***************************. IMS does not have a website or a registered location on ******* it is just a shield to threaten customers and share their legal information, as they are doing with me, sharing my social security number, my address, my bank account, and private username and password with former clients of one of my companies. With this behavior and hiding behind various DBAs and concealing information, this company cannot be a member of the BBB.For this reason, I request that this opinion be recorded as a complaint and as a review so that other business owners like myself do not work with this company and, therefore, do not go through the stressful and dangerous situation that I am experiencing.

  

  Business Response

  Date: 01/30/2024

  Pursuant to a certain financing agreement, the customer failed to fulfill its obligations causing an event of default to occur. The customer was sufficiently noticed of the default and was provided an extended opportunity over several months to remedy the default, but unfortunately refused to do so. When our company was finally left with no other option but to enforce its rights under the agreement, including the delivery of UCC lien notices pursuant to Article 9 of the Uniform Commercial Code, again rather than remedying the default, the customer initiated a defamatory smear campaign and has attempted to extort Funderial. Subsequently, the attached Cease and Desist notice was delivered to the customer. The notice states:
  
  Dear *****************************,
  
  We write to you to demand that you immediately cease the unlawful and damaging acts you have taken against IMS Fund LLC, dba Imperial Advance, dba Funderial, (IMS), including but not limited to: (i) defamation; (ii) libel; (iii) tortious interference, and (iv) extortion. Specifically, you have posted defamatory statements on several online platforms which interfere with **** business by falsely representing that IMS failed to provide certain notices of default and unlawfully shared certain information, amongst other false remarks. We are also writing to afford you a last opportunity to immediately remove your false remarks from the online platforms and any other instruments you used. Should you fail to do so, IMS will have no choice but to escalate this matter, including but not limited to initiating a lawsuit seeking injunctive relief.
  
  Under ******** law, a false statement, like those contained in your online statements posted on at least ********************* Yelp, and ******* impugns the basic integrity of IMS, constitutes defamation per se, automatically resulting in a presumption of special damages to IMS, including but not limited to impairment of reputation and standing in the community. ****** ****************, 61 A.D.3d 717, ***** (2009), affd as modified and remanded, 15 ****3d 336 (2010); ****** ******************, 765 ******* 48, 52 (************) (It has long been the law in ******** that a defamatory statement that is a direct attack upon the business, trade or profession of the plaintiff is considered defamation per se, and therefore actionable without any proof of special damages.).
  
  Your Tortious and Defamatory Conduct to Extort IMS
  
  Amongst other writings, between January 10, **** and today, you have used several online platforms to echo false information, including that you have not received any communication regarding defaults. See attached. The truth is that, starting on May 15, 2023, you received several emails containing the subject line IMS FUND DEFAULT NOTICE. Subsequently, on no less than nine occasions, you communicated with IMS representatives by sending and receiving emails containing this subject line through August 7, 2023. Regardless, you posted your false remarks knowing you received notices of default.
  
  Furthermore, your false remarks implied that IMS was charged with a criminal act as a result of breach of privacy. Your written remarks are unequivocally false and far from the truth as no such charges exist and IMS did not breach any privacy regulations. You have also used the online platforms to imply that you have an ongoing case against IMS and have attempted to solicit **** customers to join you.
  
  As you know, your business has defaulted under a certain agreement with IMS resulting in a current balance of $43,428.20, subject to increase. On January 22, ****, after posting your false remarks online, you attempted to extort IMS by sending emails and text messages containing more false remarks to employees of IMS demanding that IMS take certain actions. You also stated, I dont have any debt with you [IMS], now you [IMS] have a debt with me.
  
  The substance of your remarks confirm your only goal was to damage and extort IMS. It is commonly known that customers and businesses often consider online reviews when making decisions and that online reviews often have the ability to even persuade decisions. The only purpose of your false remarks was to imply that IMS did something inappropriate in an effort by you to harm its current, potential, and future business relationships. You knowingly misrepresented the facts when writing your remarks.
  
  Your false remarks constitute defamation because they are harming **** professional reputation, and tortiously interfere with **** economic business relationship who may not work with IMS because of your defamatory smear campaign.
  
  Accordingly, IMS demands that you, (a) hereby immediately cease your unlawful defamation of IMS, and (b) immediately remove all false and defamatory remarks from all online platforms, including but not limited to ********************* Yelp, and ******* If you do not immediately cease and remove the remarks, IMS will have no other option but to file suit for claims including defamation, seeking an injunction over your communications, sanctions, as well as other reputational, special, exemplary and punitive damages, as well as attorneys fees.
  
  Finally, now that you are on notice of potential legal action against you, you are hereby formally requested to retain, until further notice, all documents and communications that relate in any way to IMS  Fund LLC, Imperial Advance, Funderial, its subsidiaries, agents, employees, or officers, and your online accounts for the platforms, ********************* Yelp, and *******
  
  More specifically, you must retain both hard copies of documents, as well as all e-mail and other electronically stored information dating back to at least January 1, 2023. The term documents means all forms of communication, including, but not limited to e-mails, text messages, and WhatsApp messages, and any and all other preserved data. It includes, but is not limited to, hard copies and electronic files, any final and draft correspondence, reports, memoranda, notes, charts, graphs, maps, presentations, photographs, calendars, e-mails, and any hard copy or electronic data compilation from which information can be obtained, such as e-mail, spreadsheets, databases, PDA files, videos, CDs, etc. This applies to documents now in his possession, as well as those created or received subsequent to this letter, if any.
  
  This letter serves as formal notice to suspend all normal document retention and destruction policies, including shredding, recycling, etc., and all procedures relating to deletion of electronic data, which must be suspended, and all accounts must be backed up. The failure to preserve relevant documents or data may result in sanctions against you. With respect to spoliation of evidence and necessary preservation of evidence, you are hereby advised that the destruction of or the failure to preserve evidence by a party may give rise to an inference unfavorable to that party. Further, if it is found at trial that there was an intent to conceal evidence, the destruction or failure to preserve such evidence must be inferred, which indicates that such party believes that his case is weak and that he would not prevail if the evidence had been preserved. Alternatively, a jury may infer that the evidence, if preserved, would have been unfavorable to you.
  
  This letter is without prejudice to or waiver of any and all other rights IMS has, whether at law or in equity, or otherwise, all of which are expressly reserved.
  
  We appreciate the opportunity to respond to the customers remarks. Thank you.

  Customer Answer

  Date: 02/05/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

    

  I am writing to appeal and provide context to the response from Funderial , operating under various DBAs including IMS Fund LLC, Imperial Advance, and National business Helpers. My primary concern, leading to the initial complaint, revolves around their unethical practice of sharing sensitive personal information without consent, directly conflicting with privacy laws and BBB ethical standards.
  The company's reply to my complaint outlines a narrative that I have defaulted on a financial agreement, leading to an alleged smear campaign and accusations of extortion from my end. This portrayal is not only misleading but omits critical details about their handling of my personal data, including my social security number, bank account details, and other sensitive information. Such actions not only breach my privacy rights but potentially contravene federal regulations protecting individual data privacy.
  Contrary to their claims, my efforts to address these concerns directly with the company were met with evasion and a lack of professionalism, as evidenced by their refusal to provide names of their representatives and the use of laughter emojis in response to serious inquiries. This conduct, alongside threats of further sharing my personal information and initiating unwarranted legal action, highlights a significant lapse in ethical conduct and accountability.
  The attached Cease and Desist notice and their allegations of defamation are attempts to silence legitimate concerns over their practices. My actions, including the sharing of my experiences on public platforms, were driven by a need to highlight these practices and seek a resolution. Their response, including the publication of retaliatory reviews by their owner, further underscores the inconsistency in their stance on defamation and professional conduct.
  In light of these facts, I respectfully request the BBB to:
  Review the handling of my personal and sensitive information by( Funderial , Imperial advance , IMS Fund ) for breaches of privacy laws and BBB ethical standards.
  Keep my original complaint and this appeal publicly accessible to inform others of the company's practices.
  Re-evaluate the accreditation status of Funderial  and its related DBAs, considering their actions and the potential impact on consumer trust and safety.
  The essence of my dispute with Funderial is not merely about a financial disagreement but concerns the fundamental rights to privacy and ethical business practices. I believe the BBB plays a crucial role in upholding these standards and appreciate your careful consideration of this appeal.
  Thank you for your attention to this matter 

   

   

   

  Sincerely,
  
  *************************