Contact Email info@corefundcapital.com. fails to comply with a request regarding a list of collateral or a statement of account under Section. Required fields are marked *. We know this situation has been disastrous for many owner-operators and trucking companies. 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. WebCoreFund, Inc. | Business Finance & Lending! WebHere at Core Fund Solutions, our emphasis is to provide you with timely, accurate and cost effective solutions to meet your fund administration needs. Even when you contact their customer service, it can be difficult to determine exactly what fees you will be paying. See the below communication from Attorney Jason Medleys office for anyone interested in hiring him for this. googletag.enableServices(); Freight factoring, also called transportation factoring, trucking factoring, or freight bill factoring, is a process in which the person or business that delivers a load sells their invoice to a factoring company. A person may file an amendment other than an amendment that adds collateral covered by a, for a financing statement as to which the secured party of record has failed to file or, a termination statement as required by Section. (d) [Recovery when deficiency eliminated or reduced.]. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. window.googletag = window.googletag || {cmd: []}; googletag.enableServices(); Good Afternoon Everyone, We hope the staff of CoreFund Capital are being taken care of. Hes concerned about not being able to pay these carriers since hes had no communication with any of CoreFunds executives. On Behalf of Jason M. Medley CoreFund Update Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. Non-recourse solutions sometimes come with higher fees in exchange for the factoring companys added risk, and this may not be an issue for every business. BBB reports on known marketplace practices. 
Get Connected. There was a court hearing today where the attorneys for CoreFund did attend. Again, there are some limits when it comes to chattel paper here but we believe there is still recourse by the courts to provide relief. 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. It has offices throughout the United States and employs over 90 staff. (g) [Limitation of security interest: noncompliance with Section 9-210.]. If youre looking for a new factoring service and youre coming from CoreFund, give us a call +1 (410) 204 2084. 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()); Theyll get you the funds youre looking for at a good rate so you can get on the road fast. The company also has complex contracts and they can make it difficult to leave your contract. I can go on and on but I think you get the message. "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. This partnership aims to provide the best solutions to these questions for truckers everywhere. Prior to the judge appointing a receiver, Medley had a chance to speak at Wednesdays hearing regarding a civil lawsuit filed by CoreFund Capital, which seeks a restraining order and temporary injunction, as well as application for appointment of an attorney for trust beneficiaries against Frost Bank, TBK Bank, Chris Wakefield and Meir Shim Sacks. CoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. googletag.enableServices(); We know this situation has been disastrous for many owner-operators and trucking companies. CoreFund was founded by industry veterans with the sole mission of making factoring easier and more transparent to truckers and the transportation industry. ALIENABILITY OF DEBTORS RIGHTS. Distance. This is normal for factoring companies and acts as a form of protection for the factoring company in case of client or debtor default. WebSuite 900, Dallas, TX 75243. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. A. As of publication, FreightWaves calls to Jacob Sacks, Shim Sacks and Chris Wakefield, listed as the chief of staff of CoreFund, also had not been returned. OTR Solutions is always striving to simplify the process for the drivers and treats their customers like family! Quasar Capital Partners is a Texas factoring company headquartered in Dallas that serves small businesses throughout the U.S. and Canada. The following is from Todd Waller, former Business Development Officer at CoreFund Capital. According to one representative from Lydel Logistics Corp, No issue is unimportant [to OTR Solutions] and all issues are fixed in a timely and efficient manner. Another customer, R. Muller, adds, We have been factoring with OTR Solutions for 3 years and could not be any happier with our Factoring Company. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Possibly. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot5', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767778941-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); in a filed record, as applicable, may recover $500 in each case from a person that: (3) files a record that the person is not entitled to file under Section, (1) and whose failure is part of a pattern, or consistent with a practice, of noncompliance; or, 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. You Are Not Limited To One Funding Source (CFI) Has Hundreds Of Programs! WebCoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. As soon as we know the contact information for the receiver, if one is appointed, we will post it here asap. 1-5 Months
company to work with is a big decision for any carrier. 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. A bank has one program, a Business Finance Consultant has hundreds of programs, available for their clients. CoreFund Capital has filed a petition for a restraining order and injunction against Frost Bank, TBK Bank, Chris Wakefield, and Meir Shim Sacks. Can they factor new brokers? Instead, you need to speak directly with a sales representative who will discuss your business and your options with you. Not likely. The two attorneys we suggest are Jason Medley and David Jencks. Contact Email info@corefundcapital.com. Q. Through this agreement, DrayNow and CoreFund Capital will promote the core competencies of each company to their respective customer bases. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767737710-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().collapseEmptyDivs(); The initial credit line provided to Unique Logistics International on May,31, 2020 was increased from $12,000,000 to $25,000,000 on November 2nd, to provide the necessary availability to support the ongoing growth for the Company. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. Paperwork is submitted easily through email. Filter (0 active) Filter by. NO! You can view the order here: https://hubs.ly/Q01hQDNy0. How BBB Processes Complaints and Reviews. Web4. 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. PMB 2108, UCCs are regulated by law and all parties involved in a UCC filing must follow these regulations. WebAbout us CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. The petition states that CoreFunds bank accounts (and thus entire business) have been wrongly shut down. CDL Grad, No Experience
Copyright 2023 DAT Solutions, LLC. Save my name, email, and website in this browser for the next time I comment. Brokerages and factoring companies say they are powerless to help the truckers until CoreFund releases the UCC-1 (Uniform Commercial Code) liens filed by the factoring company against carriers assets. Quasar Capital Partners is a Texas factoring company headquartered in Dallas that serves small businesses throughout the U.S. and Canada. When typing in this field, a list of search results will appear and be automatically updated as you type. The online reviews are overwhelmingly positive, with many reviewers noting that theyve worked with CoreFund Capital for years without ever experiencing a problem. The case is schedule to be heard on 8/1/2022 at 9am in the Parker County 415th District Court. He currently represents about 50 trucking companies stonewalled by CoreFund and said the number is climbing every minute.. Every month 400 people find a job with the help of TruckersReport. REMEDIES FOR SECURED PARTYS FAILURE TO COMPLY WITH ARTICLE. googletag.pubads().collapseEmptyDivs(); (c) [Persons entitled to recover damages; statutory damages in consumer-goods transaction.]. Headquarters Regions Dallas/Fort Worth Metroplex, Southern US. 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. (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. Customers find the team to be both knowledgeable and helpful, always willing to go the extra mile when offering support. window.googletag = window.googletag || {cmd: []}; You can also reach out to new brokers you havent worked for in the past. 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. Heres a great list of the top 50 logistics companies in North America. 9-625. -Todd Waller. If youre looking for a recourse factoring solution, theres no doubt that altLINE is a good choice. The petition states that this is because of a spat between the parties who control CoreFunds holding company and trust (Wakefield and Sacks). WebFounded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. 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. In fact, the company was started by real truckers who were frustrated by delayed payments. DAT does not make any promises or guarantees regarding the quality of the factoring providers listed here. Stay up to date on the latest in trucking, Extended hours, including Saturday funding, A stronger sense of security and financial stability that comes with working with a bank, Competitive rates, because the bank acting as a direct source of funds (and removes the middleman), Flat rate of 2 percent on already billed invoices, No fees related to monthly minimum volumes, 24/7 access to their free online Account Management Portal (AMP), Mobile app with image capture technology so you can factor from anywhere, Account executive dedicated to your account, Pre-approved list of brokers and shippers, Free fuel card with advances and discounts, Factoring services like full invoice generation, funding, collections, and postings for clients, Rates of 2-4 percent more expensive than some of the other factoring companies, The freedom to choose which customers to factor, Up to 97 percent of invoice value paid upfront, Fuel card program with a large credit line, Quality customer support through email, phone, and online chat. the courts order moves us much closer to addressing the needs of CoreFunds factoring customers., Medley is a listed attorney for members of the trade group, the International Factoring Association, to use. If CoreFund does not reply to the demand within 20 days, you may try to proceed with this method. Q. Harris is experienced in a range of factoring operations. Company Type For Profit. Sort. Two things are constantly on the mind of a truck driver: where can I find freight, and how do I get paid? Your email address will not be published. 24 were here. As with the previous question, if a factoring company does factor a load for you without a CoreFund release and new NOA then that factor may never get paid. There was an error trying to send your message. OTR Solutions has experience working with small, medium, and large companies, and is focused on building. 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. Our customized approach provides clients with the cash flow solutions they need and the level of care and service they deserve. 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. If this is done, the receiver will be able to process buyouts and terminations. CoreFund Capital is the premier full-service freight bill factoring company in the USA. The hard part is over and the judge appointed a receiver in the CoreFund case. Attorneys, rival factoring companies and brokerages have received numerous calls from some of CoreFunds approximately 350 trucking clients, including many owner-operators, who are desperate for answers and may be forced to close their doors if they cant pay their drivers or purchase fuel. Please select the number of verifiable months youve been driving professionally using your Class A CDL within the last 3 years. (2) if the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event an amount not less than the credit service charge plus 10 percent of the principal amount of the obligation or the time-price differential plus 10 percent of the cash price. Choosing which load factoring company to work with is a big decision for any carrier. As a bank factoring company, altLINE offers the same benefits as a regular independent factoring company while providing the advantages that come from working with a community bank. If this process runs as planned, our fees will be very manageable and divided among the group. 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. Q. Melissa Harris joined CoreFund Capital as vice president. They also offered a lower rate and they have an app that allows you to process your loads and check the status. He will need 1) a copy of your CoreFund factoring agreement and 2) your original UCC1 filed by CoreFund against your assets. Medleys office for anyone interested in hiring him for this be able to process loads.: noncompliance with Section 9-210. ] customized approach provides clients with the cash flow Solutions they and. If one is appointed, we will post it here asap been professionally! The extra mile when offering support the best Solutions to these questions truckers! If youre looking for a recourse factoring solution, theres no doubt that altLINE is a provider of financial,... Services, specializing in business financing through invoice factoring your CoreFund factoring agreement 2. They also offered a lower rate and they can make it difficult to leave your contract these for. 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Get Connected. There was a court hearing today where the attorneys for CoreFund did attend. Again, there are some limits when it comes to chattel paper here but we believe there is still recourse by the courts to provide relief. 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. It has offices throughout the United States and employs over 90 staff. (g) [Limitation of security interest: noncompliance with Section 9-210.]. If youre looking for a new factoring service and youre coming from CoreFund, give us a call +1 (410) 204 2084. 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()); Theyll get you the funds youre looking for at a good rate so you can get on the road fast. The company also has complex contracts and they can make it difficult to leave your contract. I can go on and on but I think you get the message. "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. This partnership aims to provide the best solutions to these questions for truckers everywhere. Prior to the judge appointing a receiver, Medley had a chance to speak at Wednesdays hearing regarding a civil lawsuit filed by CoreFund Capital, which seeks a restraining order and temporary injunction, as well as application for appointment of an attorney for trust beneficiaries against Frost Bank, TBK Bank, Chris Wakefield and Meir Shim Sacks. CoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. googletag.enableServices(); We know this situation has been disastrous for many owner-operators and trucking companies. CoreFund was founded by industry veterans with the sole mission of making factoring easier and more transparent to truckers and the transportation industry. ALIENABILITY OF DEBTORS RIGHTS. Distance. This is normal for factoring companies and acts as a form of protection for the factoring company in case of client or debtor default. WebSuite 900, Dallas, TX 75243. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. A. As of publication, FreightWaves calls to Jacob Sacks, Shim Sacks and Chris Wakefield, listed as the chief of staff of CoreFund, also had not been returned. OTR Solutions is always striving to simplify the process for the drivers and treats their customers like family! Quasar Capital Partners is a Texas factoring company headquartered in Dallas that serves small businesses throughout the U.S. and Canada. The following is from Todd Waller, former Business Development Officer at CoreFund Capital. According to one representative from Lydel Logistics Corp, No issue is unimportant [to OTR Solutions] and all issues are fixed in a timely and efficient manner. Another customer, R. Muller, adds, We have been factoring with OTR Solutions for 3 years and could not be any happier with our Factoring Company. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Possibly. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot5', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767778941-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); in a filed record, as applicable, may recover $500 in each case from a person that: (3) files a record that the person is not entitled to file under Section, (1) and whose failure is part of a pattern, or consistent with a practice, of noncompliance; or, 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. You Are Not Limited To One Funding Source (CFI) Has Hundreds Of Programs! WebCoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. As soon as we know the contact information for the receiver, if one is appointed, we will post it here asap. 1-5 Months
company to work with is a big decision for any carrier. 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. A bank has one program, a Business Finance Consultant has hundreds of programs, available for their clients. CoreFund Capital has filed a petition for a restraining order and injunction against Frost Bank, TBK Bank, Chris Wakefield, and Meir Shim Sacks. Can they factor new brokers? Instead, you need to speak directly with a sales representative who will discuss your business and your options with you. Not likely. The two attorneys we suggest are Jason Medley and David Jencks. Contact Email info@corefundcapital.com. Q. Through this agreement, DrayNow and CoreFund Capital will promote the core competencies of each company to their respective customer bases. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767737710-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().collapseEmptyDivs(); The initial credit line provided to Unique Logistics International on May,31, 2020 was increased from $12,000,000 to $25,000,000 on November 2nd, to provide the necessary availability to support the ongoing growth for the Company. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. Paperwork is submitted easily through email. Filter (0 active) Filter by. NO! You can view the order here: https://hubs.ly/Q01hQDNy0. How BBB Processes Complaints and Reviews. Web4. 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. PMB 2108, UCCs are regulated by law and all parties involved in a UCC filing must follow these regulations. WebAbout us CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. The petition states that CoreFunds bank accounts (and thus entire business) have been wrongly shut down. CDL Grad, No Experience
Copyright 2023 DAT Solutions, LLC. Save my name, email, and website in this browser for the next time I comment. Brokerages and factoring companies say they are powerless to help the truckers until CoreFund releases the UCC-1 (Uniform Commercial Code) liens filed by the factoring company against carriers assets. Quasar Capital Partners is a Texas factoring company headquartered in Dallas that serves small businesses throughout the U.S. and Canada. When typing in this field, a list of search results will appear and be automatically updated as you type. The online reviews are overwhelmingly positive, with many reviewers noting that theyve worked with CoreFund Capital for years without ever experiencing a problem. The case is schedule to be heard on 8/1/2022 at 9am in the Parker County 415th District Court. He currently represents about 50 trucking companies stonewalled by CoreFund and said the number is climbing every minute.. Every month 400 people find a job with the help of TruckersReport. REMEDIES FOR SECURED PARTYS FAILURE TO COMPLY WITH ARTICLE. googletag.pubads().collapseEmptyDivs(); (c) [Persons entitled to recover damages; statutory damages in consumer-goods transaction.]. Headquarters Regions Dallas/Fort Worth Metroplex, Southern US. 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. (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. Customers find the team to be both knowledgeable and helpful, always willing to go the extra mile when offering support. window.googletag = window.googletag || {cmd: []}; You can also reach out to new brokers you havent worked for in the past. 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. Heres a great list of the top 50 logistics companies in North America. 9-625. -Todd Waller. If youre looking for a recourse factoring solution, theres no doubt that altLINE is a good choice. The petition states that this is because of a spat between the parties who control CoreFunds holding company and trust (Wakefield and Sacks). WebFounded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. 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. In fact, the company was started by real truckers who were frustrated by delayed payments. DAT does not make any promises or guarantees regarding the quality of the factoring providers listed here. Stay up to date on the latest in trucking, Extended hours, including Saturday funding, A stronger sense of security and financial stability that comes with working with a bank, Competitive rates, because the bank acting as a direct source of funds (and removes the middleman), Flat rate of 2 percent on already billed invoices, No fees related to monthly minimum volumes, 24/7 access to their free online Account Management Portal (AMP), Mobile app with image capture technology so you can factor from anywhere, Account executive dedicated to your account, Pre-approved list of brokers and shippers, Free fuel card with advances and discounts, Factoring services like full invoice generation, funding, collections, and postings for clients, Rates of 2-4 percent more expensive than some of the other factoring companies, The freedom to choose which customers to factor, Up to 97 percent of invoice value paid upfront, Fuel card program with a large credit line, Quality customer support through email, phone, and online chat. the courts order moves us much closer to addressing the needs of CoreFunds factoring customers., Medley is a listed attorney for members of the trade group, the International Factoring Association, to use. If CoreFund does not reply to the demand within 20 days, you may try to proceed with this method. Q. Harris is experienced in a range of factoring operations. Company Type For Profit. Sort. Two things are constantly on the mind of a truck driver: where can I find freight, and how do I get paid? Your email address will not be published. 24 were here. As with the previous question, if a factoring company does factor a load for you without a CoreFund release and new NOA then that factor may never get paid. There was an error trying to send your message. OTR Solutions has experience working with small, medium, and large companies, and is focused on building. 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. Our customized approach provides clients with the cash flow solutions they need and the level of care and service they deserve. 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. If this is done, the receiver will be able to process buyouts and terminations. CoreFund Capital is the premier full-service freight bill factoring company in the USA. The hard part is over and the judge appointed a receiver in the CoreFund case. Attorneys, rival factoring companies and brokerages have received numerous calls from some of CoreFunds approximately 350 trucking clients, including many owner-operators, who are desperate for answers and may be forced to close their doors if they cant pay their drivers or purchase fuel. Please select the number of verifiable months youve been driving professionally using your Class A CDL within the last 3 years. (2) if the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event an amount not less than the credit service charge plus 10 percent of the principal amount of the obligation or the time-price differential plus 10 percent of the cash price. Choosing which load factoring company to work with is a big decision for any carrier. As a bank factoring company, altLINE offers the same benefits as a regular independent factoring company while providing the advantages that come from working with a community bank. If this process runs as planned, our fees will be very manageable and divided among the group. 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. Q. 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