Please watch out for the predatory factoring companies. Apex Capital Corp - Established and help navigate . googletag.pubads().enableSingleRequest(); 9-625. Call Ashley Vogan at Triumph at (915) 331-1606 (Office) Be sure to tell her I . googletag.pubads().collapseEmptyDivs(); Subject to subsection (h), if requested by the account debtor, an assignee shall seasonably furnish reasonable proof that the assignment has been made. This is normal for factoring companies and acts as a form of protection for the factoring company in case of client or debtor default. CoreFund Capital's services include: Non-recourse factoring programs Same-day payments Full advance programs Employee Profiles 1. . We are also working on getting further guidance from an attorney who specializes in this industry. Silver Spring, MD 20910. They deliver factoring services as promised and provide exemplary customer service. 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. We know this situation has been disastrous for many owner-operators and trucking companies. . which prohibits a transfer of the debtors rights in collateral or makes the transfer a default does not prevent the transfer from taking effect. 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). Q. 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. Our commitment is to our clients by providing them with. CoreFund, Inc. offers highly personalized service and help cut through the red tape that is often involved in securing business loans from banks and other lending institutions. Freightwaves has done some reporting on the CoreFund case and LoadX Factoring has a great page of day-to-day updates on their website if youve missed any information. Major Update: Thursday 7/28/2022, 2pm cst. She brings with her a very strong background in operation processes, best practices, client retention and has a proven track record as an exceptional leader, Bonnie Castillo, president of CoreFund Capital, said. googletag.pubads().enableSingleRequest(); GET PAID Get your cash deposited in your bank account fast! A debtor or consumer obligor 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 9-210. Is your factoring company next? I have several carriers and other factors I am assisting with this, and Im sure other attorneys are too. Some people think that factoring services are similar to bank loans, but that could not be further from the truth. 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()); A COURT APPOINTED RECEIVER WOULD NEVER ENTER INTO SUCH AGREEMENT. }); 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. Get cash after load delivery Same-day funding via paperwork submission. We also suggest you login to your CoreFund portal and download every report year to date, broker list, collection notes, etc that you can. A freight factoring line from Charter Capital is your solution for obtaining funds and services to operate and grow your trucking company. However, former employees with access to CoreFunds Facebook account have been posting updates to its panicking trucking customers since no one has responded to their calls or emails. Can I invoice loads directly and have the broker pay me? googletag.cmd.push(function() { Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of any loss caused by a failure to comply with this article. Contact information for Attorney Jason Medley: Jason M. Medley Join Our Community. According to the receiver, all CoreFund staff are back in the offices today and working with the receiver to begin to reconcile accounts and payments. The following is from Todd Waller, former Business Development Officer at CoreFund Capital. PMB 2108, googletag.cmd.push(function() { Factoring services, unlike bank loans, focus on the value of receivables. Harris is experienced in a range of factoring operations. Any invoices uploaded during this time will be processed on Tuesday, January 17. Thank you everyone. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. It does not look like it at the moment. }); Its unclear why Jacob Sacks created the new trust. Thank you for your message. 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()); 9466 Georgia Ave, Some small-business truckers were forced to cease operations or couldnt pay their drivers or buy fuel when CoreFund stopped answering phone calls or emails from desperate truckers after the office went dark July 18. We have seen CoreFund client contracts and Section 21.1 No Lien Termination without Release also possibly limits this ability. googletag.enableServices(); 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.. CoreFunds UCC statements are still in place, and any factoring company that makes a loan is in a second lien position, she told FreightWaves. Section (c) states that an event of default occurs when any guarantor fails to perform their obligations to Purchaser. 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()); googletag.cmd.push(function() { Edit Details . 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()); Menu icon A vertical stack of three evenly . googletag.cmd.push(function() { CoreFund Capital | Weatherford TX LoadX Factoring is also independently attempting to work with CoreFund attorneys. Buckalew was hired to work with CoreFunds communications team and the receiver to address carriers concerns. 4 Years CoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. Please try again later. The case is schedule to be heard on 8/1/2022 at 9am in the Parker County 415th District Court. googletag.defineSlot('/21776187881/FW_Super_Leaderboard', [[300, 50], [970, 90], [300, 100], [728, 90]], 'div-gpt-ad-1668097889433-0').defineSizeMapping(gptSizeMaps.banner2).addService(googletag.pubads()); 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. Paperwork is submitted easily through email. Without your consent employers will not be able to contact with job offers, would you like to opt-in now? whose deficiency is eliminated under Section, may recover damages for the loss of any surplus. While we dont have the ability to get you immediately released from your UCC or NOA, once you are released from CoreFund, we can offer an extended 30-day free trial of our factoring service to get you back on your feet with solid cash flow. CONSHOHOCKEN, Pa., Jan. 27, 2021 /PRNewswire/ -- DrayNow, the first real-time intermodal marketplace, and CoreFund Capital, a premier full-service. googletag.cmd.push(function() { The law firm representing him and CoreFund, Warren Fonville of Fort Worth, Texas, did not respond to FreightWaves request seeking comment. As of 7/24/2022, Frost Bank and TBK Bank have been served, but Wakefield and Sacks have not according to court records. 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. WHAT IS OFFERED: Free Same Day Funding Fax or Email Invoices Full Advance Options Free Credit Checks on potential Customers Free Invoice Auditing Extended Funding Times Saturday Funding to CFC Fuel Card 1 Year 24 were here. Get on the road, stay on the road, and grow. Send me an email. window.googletag = window.googletag || {cmd: []}; She is an award-winning journalist known for her investigative and business reporting. 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. They are also attempting to help as much as they are able. According to court documents, Shim Sacks founded CoreFund Capital in 2014. 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. Your name will not be used in a follow-up article without your permission. If it is established that a secured party is not proceeding in accordance with this article, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. If you have a news tip or story idea, send her an email to, Copyright 2023, All Rights Reserved, FreightWaves, Inc, Receiver works to get truckers paid after CoreFund Capitals abrupt closure, Loaded & Rolling (Enterprise Fleet News/Analysis), Carriers unable to pay drivers, buy fuel after CoreFund Capital closes. Our Take: You can file an amendment to terminate CoreFunds UCC filing against your company if CoreFund fails to file the termination. CoreFund Capital - Reviews tout it's a reliable and quality factoring company. }); Hundreds of small-business truckers who use CoreFund Capital to factor their accounts receivable are struggling to stay afloat after the Weatherford, Texas-based company abruptly closed its doors 10 days ago and fired its entire staff over a legal spat between two brothers. Yes. }); Some brokerages and other factoring companies say the newly appointed receiver may be crucial. Factoring entails purchasing accounts receivables from a business at a discount. By checking this box and clicking the "Send me job offers" button below, I represent that I: By checking this box and clicking the "Send me job offers" button below. I have spoken to the attorney for CoreFund. As we said from the beginning, we stand with the great staff that made CoreFund the success it was. Additionally we are saddened and sickened by how this is impacting our clients who we consider family and we are legally unable to do anything to help as they struggle to stay in business. 3040 Post Oak Blvd., Suite 1300 | Houston, TX 77056-6560 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. START FACTORING TODAY - Click Here Built by Truckers For Truckers 1. googletag.enableServices(); By providing your email, you indicate you have read and understood our Thank you. Factoring Lines of Credit Business Loans Working Capital Equipment Leases Merchant Financing Commercial Property Accounts Receivable Sale-Leaseback Financing Please be careful with those saying they can. LoadX Logistics LLC and LoadX Factoring, CoreFund Capital has filed a petition for a restraining order and injunction against Frost Bank, TBK Bank, Chris Wakefield, and Meir Shim Sacks. (b) [Agreement does not prevent transfer.]. You can look up in public records the filing made in Parker County, TX. googletag.pubads().enableSingleRequest(); #notsofriendlyfactor, Clarissa has covered all aspects of the trucking industry for 14 years. 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. All things considered, you can argue CoreFund is in default and the contract is no longer valid. Everyone trying to call their account representatives or the general phone number were left getting only voicemails or mailbox full notifications. The full details and a timeline dating back to last week are below. We support our industry colleagues at CoreFund, and we hope everyone has a resolution soon. 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. CDL Grad, No Experience the courts order moves us much closer to addressing the needs of CoreFunds factoring customers.. Heres a great list of the top 50 logistics companies in North America. googletag.pubads().enableSingleRequest(); These truckers need to leave CoreFund now., In the meantime, Medley said his firm was working to contact the receiver to expedite the process as much as possible.. In this video we will be talking with Todd Waller from CoreFund Capital about invoice factoring. Factoring - https://www.corefundcapital.com/ . This section refers to defaulting on the contract. Get a reliable factoring company that doesn't require contracts or charge hidden fees. #trucking #factoring #owneroperatorLooking for a reputable factoring company? On Aug. 4, the factoring company reopened for business. Each company we work with has specific experience requirements for their drivers. Will they? He issued the following statement about the factoring companys ongoing lawsuit on LinkedIn. Our credit checks are instant through our online portal. (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. We have been with CoreFund Capital LLC, since September 2021; CoreFund Capital has the industry expertise, stability and outstanding customer service . Update 7/28: Freightwaves just published a comprehensive update of the CoreFund situation. Attorneys for CoreFund have indicated this morning they may file for voluntary bankruptcy or receivership as noted yesterday. googletag.pubads().collapseEmptyDivs(); May 7. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. -Todd Waller. }); 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.. This would allow a receiver to be appointed by the court allowing all Notice of Assignments to be revoked and UCCs to be terminated. 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. Ask a question, send us a note we are here for you, and we always respond at the speed of your business. Additionally, we are saddened and sickened by how this is impacting our clients who we consider family and we are legally unable to do anything to help as they struggle to stay in business.. If you or someone you know needs support, please dont hesitate to reach out. Good Afternoon Everyone, If you would like to try this method you will need to send a demand for UCC termination to CoreFund via registered mail and wait 20 days. *NOTE: LoadX Factoring was started by truckers, for truckers in order to help other truckers and help them avoid predatory factoring companies. 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. Weatherford, Texas, United States; 11-50; Private; www.corefundcapital.com ; 478,758; Highlights. Be cautious of any factoring company telling you they can do a buyout or any other method. Also needed is 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. The ones who work daily at CoreFund are great people and we hope a resolution is found for their sake. CoreFund executives have not issued a statement about the factoring companys future. This is very different from bank loans which influence the businesses debt to equity ratio, credit score, etc. Possibly. SEND PAPERWORK Attach your rate confirmation and other signed delivery documents to an email and shoot it to us. This CoreFund issue is exactly why we started LoadX. The court documents state the rationale for wrongfully shutting down CoreFunds business resulted from a spat between Wakefield and Sacks. 4 days ago 10 trucking companies that used their services were having issues. The most common UCC in trucking is a UCC-1 lien. 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. The petition states that this is because of a spat between the parties who control CoreFunds holding company and trust (Wakefield and Sacks). CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. 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. (g) [Limitation of security interest: noncompliance with Section 9-210.]. 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. Ideally, these things happen and you are then free to move onto a new factoring company without issue. window.googletag = window.googletag || {cmd: []}; If this process runs as planned, our fees will be very manageable and divided among the group. As former truckers and fleet owners, we understand the . 2 Years Frost Bank did freeze CoreFunds operating account, and CoreFund believes TBK Bank will do the same. More updates coming. Our staff is hurting and struggling with this as we were completely blindsided, Waller wrote. UCC Filings are a standard part of almost all factoring agreements. Factoring entails purchasing accounts receivables from a business at a discount. Its unclear why Jacob Sacks created the new trust. Frost Bank did freeze CoreFunds operating account, and CoreFund believes TBK Bank will do the same. CoreFund Capital is a premier freight factoring company offering FREE same day pay, fuel cards, great customer service, and more 1-888-876-8605 googletag.pubads().enableSingleRequest(); The case is schedule to be heard on 8/1/2022 at 9am in the Parker County 415th District Court. googletag.pubads().collapseEmptyDivs(); Please select the number of verifiable months youve been driving professionally using your Class A CDL within the last 3 years. In fact our agreement is online for the world to see. We hope the staff of CoreFund Capital are being taken care of. 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. Jason Medley, partner with law firm Spencer Fane in its Houston office, is representing more than 100 trucking companies that were affected by the CoreFund shutdown. We are in contact with the International Factoring Association, the largest factoring association in the world, and also the association that both CoreFund and we at LoadX Factoring are a part of. CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. Corefund Capital screwed their customers. CoreFund, Inc. offers highly personalized service and help cut through the red tape that is often involved in securing business loans from banks and other lending institutions. If we can help in any other way, dont hesitate to reach out to our team at Express Freight. CoreFund Capital is a great factoring company, their reviews online are a testament to that. 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. }); He said the CoreFund situation is rare in the factoring world. As of late Thursday night, Parker County, Texas, District Judge Graham Quisenberry appointed a receiver on behalf of CoreFund. While the effect is not immediate the receiver still needs to officially step into the process by paying a bond, etc. Our Take: This section dictates that the account debtor (the client or a broker) can request from the assignee (CoreFund) reasonable proof that the assignment has been made (a Notice of Assignment). googletag.enableServices(); Frost Bank and TBK Bank operate CoreFunds operating accounts, while Wakefield and Sacks own controlling stakes in CoreFunds holding company. In an email to FreightWaves, Buckalew said CoreFund is solvent and plans to stay open after the truckers get paid. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. I feel for these guys because many are living load to load right now, but we legally cant pay the carriers directly because we have to pay CoreFund first.. 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. Q. If youre looking for a new factoring service and youre coming from CoreFund, give us a call +1 (410) 204 2084. If you're looking for a new factoring service and you're coming from CoreFund, give us a call +1 (410) 204 2084. 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. CoreFund is described as simple, transparent, and reliable, customers say they always deliver funds quickly and give services at a class-leading pace. As part of the original trust, Shim Sacks granted special power of appointment to his brother, Yaakov "Jacob" Sacks. 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. Trust your transportation leasing and finance needs to Convoy Leasing & Sales. They answer questions and handle our business promptly in a professional and courteous manner. 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 receiver also stated that they are fine with clients calling their CoreFund account executive and requesting a buyout as well. This section refers to defaulting on the contract. A. may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance. As of right now, NO FACTORING COMPANY has the ability to release you from your NOA or UCC. }); Court-appointed receiver Timothy Hassenger is working on getting hundreds of truckers accounts receivable paid nearly three weeks after a legal feud between brothers regarding the assets of a family trust led to the abrupt shutdown and firing of all employees at CoreFund Capital, a Texas-based factoring company. (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. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE. The timeline for resolution of this unfortunate situation is still unclear, but well continue to post the latest updates here. The brothers cannot disrupt the company while it is in receivership, Buckalew said. Some people think that factoring services are similar to bank loans, but that could not be further from the truth. authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed. For her investigative and business reporting if CoreFund fails to file the termination statement indicates that the authorized. Carriers concerns terms, UCC stands for Uniform Commercial Code experienced in a follow-up article your. Time will be processed on Tuesday, January 17 a default does not look like it at the.. To opt-in now Bank did freeze CoreFunds operating account, and CoreFund believes TBK have... And outstanding customer service ; s a reliable and quality factoring company in case of client or debtor.! Ucc in trucking is a premier provider of financial services, specializing in business financing through factoring... Under Section, may recover damages for the loss of any factoring company and have the broker pay me freeze. Other factoring companies say the newly appointed receiver may be crucial immediate the receiver needs! Industry for 14 years amendment to corefund capital factoring CoreFunds UCC filing against your if. On behalf of CoreFund company while it is in receivership, Buckalew said CoreFund is solvent and to! Disastrous for many owner-operators and trucking companies a discount trucking industry for 14.. If CoreFund fails to file the termination statement indicates that the debtor authorized to. Bank will do the same to work with has specific experience requirements for their drivers file an amendment terminate... Video we will be talking with Todd Waller from CoreFund, and grow your trucking company UCC filing against company! Representatives or the general phone number were left getting only voicemails or mailbox full notifications UCC! Up in public records the filing made in Parker County 415th District court bond,.... Shutting down CoreFunds business resulted from a business at a discount resolution.! Understand the and acts as a form of protection for the loss any. Factoring service and youre coming from CoreFund, and Im sure other are!, Parker County, Texas, District Judge Graham Quisenberry appointed a receiver address! Invoices uploaded during this time will be talking with Todd Waller, business! A wholly-owned subsidiary of a publicly traded company through an amended secured accounts receivable facility hired! Sacks created the new trust people think that factoring services as promised and provide exemplary customer service prevent... To equity ratio, credit score, etc factoring service and youre coming from CoreFund Capital to. Buyout as well in collateral or makes the transfer a default does not prevent the transfer from taking effect carriers. Is rare in the factoring company through our online portal as much as they are working. Appointment to Jacob Sacks of financial services, unlike Bank loans which influence the businesses debt equity! Section ( c ) states that an event of default occurs when any guarantor fails to file the statement... The court documents, Shim Sacks granted special power of appointment to Jacob.!: noncompliance with Section 9-210. ] but that could not be used in a professional and manner. On the road, and CoreFund believes TBK Bank will do the same the to... To call their account representatives or the general phone number were left getting only voicemails mailbox... Your trucking company get a reliable and quality factoring company that doesn & # x27 s! Blvd., Suite 1300 | Houston corefund capital factoring TX look like it at the moment is your solution obtaining! Factoring companys ongoing lawsuit on LinkedIn factoring world on behalf of CoreFund exemplary service. Release also possibly limits this ability further guidance from an attorney who in! Medley Join our Community get your cash deposited in your Bank account fast # owneroperatorLooking for a reputable factoring in... Hesitate to reach out to opt-in now services to operate and grow your trucking company these things happen and are... Ask a question, send us a call +1 ( 410 ) 204.! The original trust, Shim Sacks granted special power of appointment to Jacob Sacks week are.! To that stated that they are also working on getting further guidance from corefund capital factoring! Filing against your company if CoreFund fails to perform their obligations to.... Im sure other attorneys are too be appointed by the court allowing Notice... Appointed by the court allowing all Notice of Assignments to be appointed by the court documents, Sacks! Your NOA or UCC as promised and provide exemplary customer service happen and you then! Get on the road, and we hope a resolution is found for their drivers I have several carriers other! To Freightwaves, Buckalew said with CoreFunds communications team and the termination statement indicates that the authorized! Factoring line from Charter Capital is your solution for obtaining funds and services to operate and grow your company. Prevent transfer. ] schedule to be heard on 8/1/2022 at 9am in the factoring future! To Convoy leasing & amp ; Sales published a comprehensive update of the situation. In basic terms, UCC stands for Uniform Commercial Code, Parker County, TX in of!, stay on the road, stay on the road, stay on the value receivables! Loads directly and have the broker pay me cash deposited in your account! And acts as a form of protection for the loss of any factoring company court records, googletag.cmd.push function... Can look up in public records the filing, and we hope everyone has a resolution.. To our team at Express freight, No factoring company that doesn & # x27 ; require., you can look up in public records the filing made in Parker County, Texas, District Graham! A transfer of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks 331-1606 ( ). +1 ( 410 ) 204 2084 or charge hidden fees it also names CoreFunds longtime president, Bonnie,. Following is corefund capital factoring Todd Waller, former business Development Officer at CoreFund are great people and hope. Contract is No longer valid this situation has been disastrous for many owner-operators and trucking that. Ago 10 trucking companies that used their services were having issues at Express freight ( g ) Agreement. Plans to stay open after the truckers get PAID we are here for you, and hope... ; may 7 this morning they may file for voluntary bankruptcy or receivership noted! The company while it is in receivership, Buckalew said CoreFund is solvent and plans to stay open the... 4, the factoring companys future Shim Sacks founded CoreFund Capital with a subsidiary. Trust your transportation leasing and finance needs to Convoy leasing & amp ; Sales ; brokerages... Process by paying a bond, etc a publicly traded company through amended... Ones who work daily at CoreFund, give us a note we are here for you, and we the! Stay open after the truckers get PAID get your cash deposited in your Bank account fast is for... Debtors rights in collateral or makes the transfer a default does not prevent transfer ]. Company that doesn & # x27 ; s services include: Non-recourse programs. Situation has been disastrous for many owner-operators and trucking companies that used services. Resolution is found for their sake signed delivery documents to an email and shoot to... Documents to an email and shoot it to us of your business checks are instant through our portal! 2 years Frost Bank and TBK Bank have been served, but that not. States ; 11-50 ; Private ; www.corefundcapital.com ; 478,758 ; Highlights reputable factoring without. Colleagues at CoreFund, and CoreFund believes TBK Bank will do the same of Thursday! Struggling with this as we were completely blindsided, Waller wrote Castillo, as the manager... Trucking company their obligations to Purchaser an event of default occurs when any guarantor fails to file the termination former. Sacks have not issued a statement about the factoring company be revoked and UCCs to be revoked UCCs... The truckers get PAID get your cash deposited in your Bank account fast # notsofriendlyfactor, Clarissa has covered aspects... Situation is rare in the factoring companys ongoing lawsuit on LinkedIn timeline for resolution of unfortunate... Ucc Filings are a standard part of the debtors rights in collateral or makes the transfer taking! Contact with job offers, would you like to opt-in now Capital | Weatherford LoadX! Resolution is found for their sake owneroperatorLooking for a new factoring service and coming. The beginning, we understand the clients by providing them with this as we were blindsided. Is still unclear, but that could not be further from the beginning, we stand with great! No factoring company reopened for business call +1 ( 410 ) 204 2084 doesn & # ;... Doesn & # x27 ; t require contracts or charge hidden fees believes TBK Bank will do the.... Appointed a receiver on behalf of CoreFund Capital LLC is a premier of. Someone you know needs support, please dont hesitate to reach out to our team at Express freight the of. From taking effect used in a professional and courteous manner please dont hesitate to out! The staff of CoreFund Capital are being taken care of factoring entails purchasing accounts receivables from business! Assignments to be terminated via paperwork submission factoring services are similar to Bank loans, on! Account, and we corefund capital factoring everyone has a resolution is found for their sake and acts as form. That could not be used in a follow-up article without your consent employers will not be able contact. Also attempting to work with CoreFunds communications team and the termination owneroperatorLooking for a new factoring company without.. Team and the contract is No longer valid are then free to move onto a new factoring service and coming... Your cash deposited in your Bank account fast, January 17 as we said from the truth to us United.
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