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Business Profile

Asset Based Lending

Alternative Funding Solutions Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Asset Based Lending.

Complaints

Customer Complaints Summary

  • 17 total complaints in the last 3 years.
  • 6 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

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.

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Complaint status

Complaint type

  • Initial Complaint

    Date:05/09/2025

    Type:Service or Repair Issues
    Status:
    Answered
    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.
    **** with Alternative Funding Solutions reached out to me about providing a credit line on March 31st, 2025. Had me send in Bank statements and a application for approval. After submitting the information I was then linked with an underwriter by the name of *** who represented **** through **********************, from this point this is were the trouble started. Originally when speaking with **** this was supposed to be a simple process as my company had already be pre-approved according to him for financial services as such I was eager to form a relationship with **** and his partnership for what I thought would be a great partnership for years to come. Once *** entered the picture however things took a crazy turn as *** kept asking for more information to which I reluctantly provided at the confidence that it was necessary from ****. After 2 days of additional information I was approved through ****** Underwriting team at *** for a $87,500.00 Credit line with the understanding that I needed to meet specific conditions April 2nd 2025. **** told as well as *** with Vanguard that it would originally take 14 days to effectively setup the credit line but could take as long as 4 weeks and that in the interim I must take a $35,000 loan through *** and was funded April 3rd, 2025 and successfully make payments on it until my true Line of Credit was ready as this was a way of showing **** and *** with underwriting that I had the financial strength to take on the responsibility of the credit line. In 14 days I was to pay back a little over $7,000 and then receive my line of credit. I accepted at the request of **** and *** but when I called *** they stated that my payback would balloon to $50, ****** as was due in full even at 4 weeks of daily payments. Clearly I had been lied to and mis informed. I waited my 4 weeks and paid back *** their original loan amount at their request which still met the stipulations by **** and *** but as of today they have not delivered

    Business Response

    Date: 05/09/2025

    Subject: Re: Complaint Regarding Credit Line Process


    Please be advised that the loan in question was nullified, and all daily payments collected were returned to the merchant in full.
    See attached email confirming the agreement.

     

     

  • Initial Complaint

    Date:01/17/2025

    Type:Billing Issues
    Status:
    Unanswered
    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.
    They approached me saying they would give me a line of credit of $497,000 and charged me a fee of $19,700 on September 6 2024. They made me take out a reverse loan and left me with payments that I couldn't afford. But like other complaints, the line of credit was not approved and they just told me to wait. They are an unethical group that puts many business owners in trouble with the same fraudulent practices. Where should the people who made all these complaints be compensated for their damages?

  • Initial Complaint

    Date:01/15/2025

    Type:Product Issues
    Status:
    Unanswered
    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.
    I am filing a formal complaint against *********************** located at **********************************, for persistent and unsolicited communications despite multiple requests to cease contact. Over the past three years, I have received numerous calls, text messages, and emails offering ******************** services, including a recent text from an employee named ***** (phone: ************). These communications are unwelcome, as I do not own a business, nor am I seeking ********************.I have explicitly requested that the company remove my personal and business information, including my name, phone number, email, Social Security Number (SSN), and Employer Identification Number (EIN), from their records. Despite these requests, the company continues to contact me, in violation of the Telephone Consumer Protection Act (TCPA). My phone number has been listed on the National Do Not Call Registry since March 20**, making their actions illegal.Additionally, the company references a dissolved entity, **********, raising concerns about how my data was obtained and their compliance with data privacy regulations. This matter has already been reported to law enforcement, including the *************************** (Case #********), Maine State Police (Case #************), and *************** ***************** (Case #**-**********).I am seeking the following *************************Permanent removal of my personal and business information from their systems.Cessation of all unsolicited communications.Written confirmation of compliance.If the company fails to comply, I am prepared to escalate this matter further through legal and regulatory channels to protect my privacy and rights.

  • Initial Complaint

    Date:07/16/2024

    Type:Service or Repair Issues
    Status:
    Unanswered
    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.
    The company offered my business a line of credit and signed the documents and charged me $3,600 in fees and never delivered. Also I was tricked into taking a small unsecured business loan in order to unlock the line of credit option and when I realized that it was all not true I requested the pay off letter for that loan to close it so I wont be charged more interest but their agents stoped responding to me and now I cant pay off the loan and I need help getting the required info to pay off the loan, and I need to receive a refund for the contract fees they charged me for and never committed to. Thank you

  • Initial Complaint

    Date:05/31/2024

    Type:Service or Repair Issues
    Status:
    Unanswered
    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.
    I was contacted by AFS regarding a line of credit. I spoke with ******* who advised that the only way to get the Line of Credit is to apply for funding with Everest Funding. They set me up and told me that we would pay Everest with the line of credit and would be provided a discount. I received the funding from *******. Then became very busy and could not get back to ******* in time to be able to get the early discount. We decided to move forward and apply for the line of credit. I provided them with $3000 for the line of credit and to be set up with the portal. He provided me many excuses and a lot of back and forth. I never received the line of credit. I asked for a refund on numerous occasions, and nothing was ever provided to me. My calls and emails go unanswered. I want them to just provide me with the money I gave to them as they NEVER gave me the line of credit.

  • Initial Complaint

    Date:05/13/2024

    Type:Service or Repair Issues
    Status:
    Unanswered
    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.
    I receive text messages and phone calls on a daily basis from: ***********************************************************************************************************************************, Phone: ************** Site: **********, E-Mail: ********************* *************** They are attempting to contact: *******, ************************** ****************************************************, Phone **************, Site: ************************************, E-Mail: ******************************** They have the wrong phone number. Please tell them to stop contacting me.

    Customer Answer

    Date: 06/06/2024

    Better Business Bureau:

    At this time, I have not been contacted by Alternative Funding Solutions Inc. regarding complaint ID ********.

    Sincerely,

    *********************

  • Initial Complaint

    Date:03/20/2024

    Type:Order Issues
    Status:
    Unanswered
    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.
    In June of 2023, I was working with Alternative Funding Solutions to get funding for my small business. During the process, it was brought to my attention that since my husband was part owner of the business, but not a US citizen, that we would not be eligible for funding through AFS (Alternative Funding Solutions) so no contract had been signed and no agreement was made. However, AFS, using my bank account information given to deposit funds into, withdrew $4,000 from our business bank account on 06/30/2023 as an accounting fee for AFS. The person of whom Id been working with, *****, was contacted immediately to have this matter resolved. He acknowledged the fee had been withdrawn and at one point requested wiring information to return the fund but then soon began avoiding calls, emails, and text messages. I even spoke with the company, GFE, who AFS and ***** had been contracted through to find the deals for funding. A rep from GFE, *****, sent an email in regards to the situation stating their contract with ***** and AFS stated they legally cannot even collect any additional fees from clients per their contract with each other. I just recently saw that AFS has updated their website with contact information and also saw they were A+ rated with the BBB. *** made every attempt outside of pursuing legal and criminal actions against ***** and AFS, but if the matter is not resolved within the next month, I will begin the legal process and see if criminal charges can be brought for wire fraud.

    Customer Answer

    Date: 04/14/2024

    Better Business Bureau:

    At this time, I have not been contacted by Alternative Funding Solutions Inc. regarding complaint ID ********.

    Sincerely,

    *********************************

  • Initial Complaint

    Date:02/06/2024

    Type:Billing Issues
    Status:
    Unanswered
    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.
    They approved me for a line of credit and charged me in advance. They stated the Line of Credit would not begin for 2 weeks triggered by my $6,100 payment. In addition they issued two very expensive loans that I needed to demonstrate daily payments on before the *** could be activated. They would then pay-off the two loans with minimal expense. After two weeks they continued to reassure me there was no issue with the line of credit. After an additional two weeks, they do not return my calls or email. I am stuck with tow expensive loans that I barely ended up with anything out of. They have no explanation for the $6,100 fee (it has no connection to the other loans issued by Arena Funding). I have documentation of the *** loan and the payment.This was clearly fraudulent.

Alternative Funding Solutions Inc. is NOT a BBB Accredited Business.

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