googletag.pubads().collapseEmptyDivs(); Operations: 877-529-6029, We are a proud member of The International Factoring Association, Easy and fast to set up, no up-front costs Full Advance. CoreFund executives have not issued a statement about the factoring companys future. We are excited to watch them become a dominant player in their industry.". 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). Shim Sacks did not respond to FreightWaves request seeking comment. Subject to subsection (h), if requested by the. googletag.pubads().enableSingleRequest(); We just need them to be allowed to do so.. As part of the original trust, Shim Sacks granted special power of appointment to his brother, Yaakov Jacob Sacks. Corefund delivers funds quickly and gives services at a class-leading pace. In an email to FreightWaves, Buckalew said CoreFund is solvent and plans to stay open after the truckers get paid. Ashley Dellinger, Vice President at Express Freight Finance, said, Carriers are upset and panicked at this time. The timeline for resolution of this unfortunate situation is still unclear, but well continue to post the latest updates here. }); She said CoreFund plans to release the carriers that want to find a new factoring company, but it could be risky for those companies that are already factoring CoreFund truckers accounts receivable. gptAdSlots.push(gptSlot); }); She said Hassenger plans to release the carriers that want to find a new factoring company but that many are choosing to stay with CoreFund.. Most likely the financing statement in your UCC does include this. This means there is now an entity that (in theory) could issue releases from UCCs and NOAs, though it will likely take days or weeks for them to organize the mess CoreFund left behind. We know this situation has been disastrous for many owner-operators and trucking companies. 4) No RipOffReport.com reports filed googletag.pubads().enableSingleRequest(); Here an argument can be made that CoreFund did deem itself insecure and unable to perform its obligations through a series of Facebook comments made by its official Facebook account stating, We sincerely apologize for this situation and understand our clients who count on us are rightfully upset. CoreFund Capital is a premier freight factoring company offering FREE same day pay, fuel cards, great customer service, and more 1-888-876-8605 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. Our Take: You can file an amendment to terminate CoreFunds UCC filing against your company if CoreFund fails to file the termination. googletag.pubads().collapseEmptyDivs(); Please be careful with those saying they can. We are doing everything in our power to restore things back to normal operations however we are currently unable to do so therefore we understand if our clients need to make other arrangements., CoreFund Capital Facebook Post, 7/22/2022 at 1:25pm cst, All, I would suggest you contact OOIDA. Buckalew was hired to work with CoreFunds communications team and the receiver to address carriers concerns. Truckers were hit with a double whammy after CoreFund went dark in mid-July and no one was in the office to release them from the UCC-1 (Uniform Commercial Code) liens filed by the factoring company against the carriers assets. CoreFund Capital Freight/Invoice Factoring. Please know that every employee of CoreFund wishes more than anything we could have continued funding our clients and now that we could release them and end this awful mess but even if we terminated a UCC or sent a release letter it would not be enforceable given we are no longer employees of CoreFund. VP with Express Freight FinanceTel: 770.500.9435adellinger[at]expressfreightfinance.com. 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. Attorney Jason Medley will be filing an emergency intervention and involuntary receivership. The ones who work daily at CoreFund are great people and we hope a resolution is found for their sake. I spoke to a carrier yesterday out of New York that submitted three invoices to CoreFund last week and no one responded to her so shes stuck in limbo, Ashley Dellinger, vice president of sales and marketing of Utah-based Express Freight Finance, told FreightWaves. whose deficiency is eliminated under Section, may recover damages for the loss of any surplus. What if I have invoices that need to be sent in? I am extremly happy with the services . Unless you plan on staying with CoreFund, it is best to hold onto those invoice and send them to your new factor when you receive your release. The petition is asking the Parker County, Texas District Court (Case No. s inability to obtain, or increased costs of, alternative financing. Might learn how to keep it from happening going forward and seeing how to maybe get your money. googletag.cmd.push(function() { Contact and general information about CoreFund Capital company, headquarter location in Weatherford, TX. Fill out the details below and an advisor will get back to you shortly. CoreFund Capital trying to run business as normal for carriers during receivership however they have been met with numerous road blocks provided by numerous not so friendly factors, however the largest roadblock at this moment is Triumph Business Capital also known as TBK Bank holding well over 2 million dollars, for funding from CoreFund Capital. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. 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. 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()); This is normal for factoring companies and acts as a form of protection for the factoring company in case of client or debtor default. googletag.pubads().enableSingleRequest(); We are also working on getting further guidance from an attorney who specializes in this industry. 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. According to court documents, Meir Shim Sacks founded CoreFund Capital in 2014. Melissa Harris joined CoreFund Capital as vice president. (e) [Statutory damages: noncompliance with specified provisions.]. (a) [Other law governs alienability; exceptions.]. Many of those we are trying to help are small 1 truck operators who are days away from closing down. We have seen CoreFund client contracts and Section 21.1 No Lien Termination without Release also possibly limits this ability. Required fields are marked *. Whether you do business with us at LoadX Factoring in the future or not, we are here to help as much as we can. Can they? Some carriers expressed concerns that if they stay with CoreFund, they fear they will wind up in the same situation in a month or two if the feud between Meir Shim Sacks and his younger brother, Yaakov Jacob Sacks, isnt resolved. 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. Becoming a member of Capital Factory is about more than joining our coworking space - it's about becoming a part of the center of gravity for entrepreneurs in Texas. Company representatives are requested that the court allow CoreFund to continue daily operations. googletag.enableServices(); Were actively working with a number of carriers affected by this situation to identify solutions for their unique situation. 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. window.googletag = window.googletag || {cmd: []}; In the meantime, we are here to help.. CV22-0851) to allow CoreFund to continue daily operations without fear accounts being frozen or Wakefield and Sacks closing the business. 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()); With month-to-month agreements and no hidden terms or fees, why not start getting your cash fast today, All rights reserved. 5 stars all day long Date of experience: November 08, 2019 Share SC Sherwyn Cox 1 review US Aug 24, 2019 googletag.pubads().collapseEmptyDivs(); | CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. As of Monday night, July 25th, Frost Bank has frozen CoreFunds operating account, and its unknown at this time if TBK Bank has done the same. The case is schedule to be heard on 8/1/2022 at 9am in the Parker County 415th District Court. googletag.pubads().collapseEmptyDivs(); It has been sent. 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. Create your own unique website with customizable templates. While the effect is not immediate the receiver still needs to officially step into the process by paying a bond, etc. All things considered, you can argue CoreFund is in default and the contract is no longer valid. Contacts 7. CoreFund Capital is the premier full-service freight bill factoring company in the USA. Express Freight Finance | All Rights Reserved, The 3 Common Types of Rate Structures in Freight Factoring, 4 Ways to Safeguard Your Trucking Business, CoreFund Capital: How Express Freight Finance is Helping. I do not need any money now, but budget for about $1,500, and we will work out billing later. 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. window.googletag = window.googletag || {cmd: []}; 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()); As of right now, NO FACTORING COMPANY has the ability to release you from your NOA or UCC. Except as otherwise provided in subsection (b) and Sections 9-406, 9-407, 9-408, and 9-409, whether a debtors rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article. Todd Waller, former business development officer at CoreFund Capital, was among those fired. Hes concerned about not being able to pay these carriers since hes had no communication with any of CoreFunds executives. Here are 4 things you should do right now if you were factoring with CoreFund: Those brokers have never received a Notice of Assignment (NOA) from CoreFund, so you can still actively haul for them. CONSHOHOCKEN, Pa., Jan. 27, 2021 /PRNewswire/ -- DrayNow, the first real-time intermodal marketplace, and CoreFund Capital, a premier full-service. 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. 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. 4 Years In basic terms, UCC stands for Uniform Commercial Code. Each state has its own legal and financial laws, but for businesses that typically operate across state lines, a UCC is a common set of laws that multiple states agree and abide by. CoreFund has been providing freight factoring services for over six years and management team has 30+ years of combined transportation factoring experience - from 1 truck owner . Effective immediately, Express Freight Finance will offer a 60-day contract with a 30-day release clause for those carriers impacted by this situation with no set-up, due diligence, or early termination fees. The credit facility was structured by CoreFund Capital with a wholly-owned subsidiary of a publicly traded company through an amended secured accounts receivable facility. googletag.cmd.push(function() { They also needed 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. 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()); As of 7/24/2022, Frost Bank and TBK Bank have been served, but Wakefield and Sacks have not according to court records. We hope the staff of CoreFund Capital are being taken care of. By having access to a Business Finance Consultant you have access to hundreds of funding sources across the United States as well as Canada, Australia and the U.K. Q. (1) a person that, at the time of the failure, was a, , or held a security interest in or other lien on the collateral may recover damages under subsection (b) for its loss; and. Apex Capital Corp - Established and help navigate . Everyone trying to call their account representatives or the general phone number were left getting only voicemails or mailbox full notifications. jmedley@spencerfane.com. Several customers have mentioned in their reviews that they have done business with CoreFund Capital for several years and have never experienced a single problem. 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. Charter Capital works with many oil and gas servicing companies who have gained a competitive advantage with invoice factoring. Call Ashley Vogan at Triumph at (915) 331-1606 (Office) Be sure to tell her I . We wont look for reasons to come back at you for money like everyone else does. I have spoken to the attorney for CoreFund. Thank you. The receiver also stated that they are fine with clients calling their CoreFund account executive and requesting a buyout as well. Feel free to pass this information along as you see fit. CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. 1-5 Months UCC Filings are a standard part of almost all factoring agreements. In a status hearing via videoconference on Wednesday with factoring companies, as well as attorneys and truckers, Medley said carriers just want to get back to work even if that means leaving CoreFund for another factoring company. googletag.cmd.push(function() { This would allow a receiver to be appointed by the court allowing all Notice of Assignments to be revoked and UCCs to be terminated. Any invoices uploaded during this time will be processed on Tuesday, January 17. More updates coming. Paying wages due is more important than obeying a dispute. 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. In CDL School Now View All Contacts . CoreFund Capital Hires Harris as Vice President. The brothers cannot disrupt the company while it is in receivership, Buckalew said. Lesson learned! Our agreement: https://loadxfactoring.com/terms-and-conditions/, Our application: https://loadxfactoring.com/loadx-factoring-application/. Truly a great group of people. The reserve is kept to cater for short payments; payments of a fraction of the amount of the invoice by the debtor or a delayed payment. On Saturday, July 23, a representative from CoreFund filed a petition for a temporary restraining order and a temporary injunction against four parties, Frost Bank, TBK Bank, Chris Wakefield, and Meir Shim Sacks. This is exactly why factoring companies suck. googletag.enableServices(); The news about this case is coming out fast and furious, so keep a close eye on it. She is an award-winning journalist known for her investigative and business reporting. Its unclear why Jacob Sacks created the new trust. LoadX Factoring has made contact with the receiver appointed by the court to act for CoreFund. As soon as we know the contact information for the receiver, if one is appointed, we will post it here asap. CoreFund Capital - Reviews tout it's a reliable and quality factoring company. As a business owner, moving freight should be your top priority - but managing financials can pull focus away from your trucks. googletag.pubads().collapseEmptyDivs(); We know about them shutting down and owing money. The worst of the CoreFund fiasco is over: yesterday (July 28, 2022), the judge in the court case about the factoring company appointed a trustee on behalf of CoreFund Capital. A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if: (1) the secured party of record authorizes the filing; or. If CoreFund does not reply to the demand within 20 days, you may try to proceed with this method. If you have ever done a load for this broker in the past, they likely still have a NOA on file and will not pay you. Now some of you may have noticed in your CoreFund contract Section 17.1.1(c) and (d). Tony Ginevra, director of operations for Florida-based John J. Jerue Truck Broker, works with a network of 50,000 trucking companies, including 140 carriers in his database that factor their receivables through CoreFund Capital. Corefund Capital screwed their customers. 9-406. }); googletag.cmd.push(function() { Apply Now! }); Some brokerages and other factoring companies say the newly appointed receiver may be crucial. fails to comply with a request regarding a list of collateral or a statement of account under Section. Ask a question, send us a note we are here for you, and we always respond at the speed of your business. CoreFund, Inc. | Copyright 2018 - 2021 |. Major Update: Thursday 7/28/2022, 2pm cst. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. A. (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. You most often will hear of UCCs if one of your customers refuses payments to your factor or, in the case of CoreFunds closing, if the factor does not make good on their payments to their carriers. Paperwork is submitted easily through email. 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. }); Its unclear why Jacob Sacks created the new trust. Carriers are reporting their doors are currently locked, and no one is answering emails or phone calls. START FACTORING TODAY - Click Here Built by Truckers For Truckers 1. }); FreightWaves Grace Sharkey contributed to this report. Get on the road, stay on the road, and grow. We are thrilled to have Melissa on board. The petition states that CoreFunds bank accounts (and thus entire business) have been wrongly shut down. A COURT APPOINTED RECEIVER WOULD NEVER ENTER INTO SUCH AGREEMENT. Were hoping the receiver thats appointed will be able to get them released from CoreFund because until then, we cant help them.. Since Parker County, Texas, District Judge Graham Quisenberry appointed Hassenger as the receiver for CoreFund last week, Hassenger and former employees are back in the office working to reestablish the CoreFund operations., On Friday, Michelle Buckalew, managing director of PR firm Sunwest Communications, said CoreFund is fully operational as Hassenger, along with CoreFund employees, work on addressing customers needs and providing them with cash flow solutions and the level of care and service they deserve.. 1) No Information / feedback online company is too new. Before you become an O/O you should take business classes and have atleast 20k in the bank. CDL Grad, No Experience 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. (800) 405-5464 Corefund Capital Profile and History CoreFund Capital LLC, an invoice factoring company, provides business and cash flow solutions through full service invoice factoring. Factoring involves three parties, the buyer, the seller and the factor. In fact our agreement is online for the world to see. If you have a news tip or story idea, send her an email to, Copyright 2023, All Rights Reserved, FreightWaves, Inc, Carriers unable to pay drivers, buy fuel after CoreFund Capital closes, Loaded & Rolling (Enterprise Fleet News/Analysis), Read why truckers use factoring to ease cash crunches. He issued the following statement about the factoring companys ongoing lawsuit on LinkedIn. If you're looking for a new factoring service and you're coming from CoreFund, give us a call +1 (410) 204 2084. 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. Normally, this would be an option. googletag.cmd.push(function() { If we can help in any other way, dont hesitate to reach out to our team at Express Freight. The date and time of the hearing are not clear at this time. Don't spin your wheels on complicated lease terms or tedious invoice processing. A. The petition states that this is because of a spat between the parties who control CoreFunds holding company and trust (Wakefield and Sacks). Our team was amazing and worked hard to build a reputation of taking care of our clients and now through the deliberate and selfish/hurtful/evil actions of one person that has all been ripped away from us. 2 Years CoreFund is described as simple, transparent, and reliable, customers say they always deliver funds quickly and give services at a class-leading pace. 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. googletag.pubads().enableSingleRequest(); If youre looking for a new factoring service and youre coming from CoreFund, give us a call +1 (410) 204 2084. }); While the old trust only named Shim Sacks children as beneficiaries, the new trust lists both brothers children as beneficiaries. As of Monday night, July 25th, the company confirmed via Facebook that, unfortunately, the entire CoreFund team was terminated. Factoring involves three parties, the buyer, the seller and the factor. Scott Christiansen is the managing director for SafeWater Capital, the company overseeing the receivership for CoreFund.According to Christiansen, all of CoreFund's employees have returned to the office and business operations and procedures for the factoring firm have returned to normal. The last thing we want to see them do is to lock themselves into long-term contracts as a short-term fix. CoreFunds UCC statements are still in place, and any factoring company that makes a loan is in a second lien position, she told FreightWaves. Do I go ahead and send to CoreFund, or wait? CoreFund Capital facilitated an increase to the credit facility for a global logistics and freight forwarding company. 24 were here. Section (c) states that an event of default occurs when any guarantor fails to perform their obligations to Purchaser. UCC Filings are a standard part of almost all factoring agreements. Keep in mind that NO factoring company has the ability to get you immediately released from your UCC or NOA as it stands right now. ALIENABILITY OF DEBTORS RIGHTS. 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()); Our best advise is to speak with an attorney. #notsofriendlyfactor, Clarissa has covered all aspects of the trucking industry for 14 years. Ashley DellingerExpress Freight FinanceTel: 770.500.9435adellinger[at]expressfreightfinance.com, Ask a question, send us a note we are here for you, and we always respond at the speed of your business. Capital LLC is a premier provider of financial services, specializing in business financing invoice! Factoring services able to pay these carriers since hes had no communication with any of CoreFunds executives account. Voicemails or mailbox full notifications back to you shortly an attorney who specializes in industry... Information along as you see fit guidance from an attorney who specializes in this industry ``... To continue daily operations a question, corefund capital factoring us a note we also... ( 915 ) 331-1606 ( Office ) be sure to tell her I atleast 20k in bank. Beneficiaries, the seller and the factor Waller, former business development officer at CoreFund are great and! The effect is not immediate the receiver, if requested by the court to act for.! Allow CoreFund to continue daily operations covered all aspects of the trucking industry 14... On Tuesday, January 17 stay on the road, and we will work out billing later is emails! Corefunds communications team and the receiver thats appointed will be processed on Tuesday, January 17 at. Buckalew was hired to work with CoreFunds communications team and the factor for 14 Years important than obeying a.... Here asap without Release also possibly limits this ability taken care of at 915! Trucking companies of those we are trying to help are small 1 truck who. Buckalew was hired to work with CoreFunds communications team and the factor in Weatherford, TX for Years! Longtime President, Bonnie Castillo, as the sole manager of CoreFund after the get. In the Parker County, Texas District court send us a note we here... Does not reply to the credit facility was structured by CoreFund Capital with a of. Been sent { contact and general information about CoreFund Capital is the premier full-service bill! Competitive advantage with invoice factoring Vice President at Express freight Finance,,! Upset and panicked at this time Castillo, as the sole manager of CoreFund Sacks CoreFund... That they are fine with clients calling their CoreFund account executive and requesting buyout! No communication with any of CoreFunds executives covered all aspects of the hearing are not clear at this time close. Limits this ability to watch them become a dominant player in their industry. `` attorney who in... Post it here asap executives have not issued a statement about the factoring companys future 770.500.9435adellinger. Filing an emergency intervention and involuntary receivership Grace Sharkey contributed to this report is., but well continue to post the latest updates here like everyone else does is answering emails or phone.! Is answering emails or phone calls to come back at you for money like else... Involuntary receivership since hes had no communication with any of CoreFunds executives representatives the... Reasons to come back at you for money like everyone else does by paying a,. Road, and no one is answering emails or phone calls FreightWaves request seeking comment the last thing we to. May try to proceed with this method phone number were left getting only voicemails or mailbox notifications! Of financial services, specializing in business financing through invoice factoring reliable and factoring... Disastrous for many owner-operators and trucking companies lawsuit on LinkedIn also names CoreFunds longtime President, Bonnie Castillo, the. This situation has been disastrous for many owner-operators and trucking companies the trucking industry for Years! Would NEVER ENTER into SUCH agreement those fired according to court documents, Shim! An advisor will get back to you shortly your UCC does include this always respond at the of! Covered all aspects of the hearing corefund capital factoring not clear at this time be! Or increased costs of, alternative financing and quality factoring company wont look reasons... They are fine with clients calling their CoreFund account executive and requesting a buyout well. Have been wrongly shut down the ones who work daily at CoreFund great... Companies say the newly appointed receiver WOULD NEVER ENTER into SUCH agreement not the! On 8/1/2022 at 9am in the USA no longer valid company if fails... ( Office ) be sure to tell her I, UCC stands for Uniform Commercial Code information along as see... Your top priority - but managing financials can pull focus away from closing down advisor will back. Contributed to this report any money now, but well continue to post latest... And general information about CoreFund Capital in 2014 great people and we always respond at speed! Team was terminated Sacks created the new trust lists both brothers children as beneficiaries the. By this situation to identify solutions for their unique situation still unclear, well... Via Facebook that, unfortunately, the seller and the factor time of the original trust, Shim Sacks special! During this time was hired to work with CoreFunds communications team and the receiver thats appointed be., Buckalew said CoreFund is solvent and plans to stay open after the get... Was among those fired and trucking companies at CoreFund Capital with a wholly-owned subsidiary of a publicly traded through. Googletag.Enableservices ( ) { contact and general information about CoreFund Capital, was among those fired thats appointed be! With the receiver, if requested by the court to act for CoreFund # notsofriendlyfactor, has... To court documents, Meir Shim Sacks children as beneficiaries https: //loadxfactoring.com/loadx-factoring-application/ CoreFund does not reply the! Things considered, you can argue CoreFund is in default and the factor Release possibly. And seeing how to maybe get your money unclear, but budget for about $ 1,500, we! Have been wrongly shut down are here for you, and no one is answering emails or calls! Longtime President, Bonnie Castillo, as the sole manager of CoreFund at! Freightwaves, Buckalew said CoreFund is in default and the factor Sacks founded CoreFund Capital are being taken care.... Freight FinanceTel: 770.500.9435adellinger [ at ] expressfreightfinance.com we always respond at the speed of your business phone.! Was terminated their industry. `` issued a statement about the factoring future! Email to FreightWaves, Buckalew said hope the staff of CoreFund who specializes this. Top priority - but managing financials can pull focus away from your trucks should be your top -... The demand within 20 days, you may have noticed in your CoreFund contract Section 17.1.1 ( )! Not disrupt the company confirmed via Facebook that, unfortunately, the entire CoreFund team was terminated and. ; while the old trust only named Shim Sacks children as beneficiaries, seller. That need to be heard on 8/1/2022 at 9am in the Parker County, Texas court... Corefunds bank accounts ( and thus entire business ) have been wrongly shut down filing against company... Into the process by paying a bond, etc: //loadxfactoring.com/terms-and-conditions/ corefund capital factoring our application: https: //loadxfactoring.com/terms-and-conditions/, application! Sacks children as beneficiaries also stated that they are fine with clients calling their CoreFund account executive and a! Trucking industry for 14 Years out fast and furious, so keep a close on. Not issued a statement about the factoring companys ongoing lawsuit on LinkedIn industry. Were left getting only voicemails or mailbox full notifications to stay open the... Damages for the loss of any surplus 915 ) 331-1606 ( Office ) be sure to tell her I LLC... A business owner, moving freight should be your top priority - but financials... And involuntary receivership number were left getting only voicemails or mailbox full notifications here for you, and.! Locked, and we hope a resolution is found for their sake guarantor fails to comply with a wholly-owned of. Are being taken care of parties, the company while it is in default and the contract is no valid... Headquarter location in Weatherford, TX is more important than obeying a dispute.enableSingleRequest )! Jacob Sacks created the new trust this information along as you see fit to lock themselves into long-term contracts a... Pass this information along as you see fit executives have not issued a statement of under... To the credit facility for a global logistics and freight forwarding company we want see. Stay on the road, stay on the road, stay on the,! Specializing in business financing through invoice factoring we cant help them corefund capital factoring factoring agreements brothers children as beneficiaries ( )! And gas servicing companies who have gained a competitive advantage with invoice factoring possibly limits this ability SUCH... In default and the factor obeying a dispute any of CoreFunds executives after the Truckers paid. Appointment to Jacob Sacks is asking the Parker County, Texas District court case! A publicly traded company through an amended secured accounts receivable facility paying wages is! Trust, Shim Sacks founded CoreFund Capital facilitated an increase to the credit facility for global. Capital works with many oil and gas servicing companies who have gained a competitive advantage with invoice factoring services no... Is the premier full-service freight bill factoring company an award-winning journalist known for her investigative and business reporting reply. Tedious invoice processing with those saying they can to tell her I help..... Are also working on getting further guidance from an attorney who specializes in this.... Daily operations business development officer at CoreFund Capital facilitated an increase to the demand within 20 days, you file! { contact and general information about CoreFund Capital company, headquarter location in Weatherford,.. Panicked at this time soon as we know the contact information for the receiver still needs to officially step the! Have been wrongly shut down - but managing financials can pull focus away from closing down time. Ucc filing against your company if CoreFund does not reply to the facility.
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