NO! Or call us, Sales: 877-807-3006 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. Contacts 7. I have several carriers and other factors I am assisting with this, and Im sure other attorneys are too. Hes concerned about not being able to pay these carriers since hes had no communication with any of CoreFunds executives. 1) No Information / feedback online company is too new. 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. 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. 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. The receiver also stated that they are fine with clients calling their CoreFund account executive and requesting a buyout as well. 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 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. An agreement between the debtor and secured party which prohibits a transfer of the debtors rights in collateral or makes the transfer a default does not prevent the transfer from taking effect. The case is schedule to be heard on 8/1/2022 at 9am in the Parker County 415th District Court. CoreFund is a wholly owned subsidiary of GMA Fund LLC, the holding company for the Shim Sacks Family Legacy Trust, which he created in October 2014. Details. gptAdSlots.push(gptSlot); While the effect is not immediate the receiver still needs to officially step into the process by paying a bond, etc. View All Contacts . 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 . I have spoken to the attorney for CoreFund. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. 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()); An argument could be made that Frost Bank is a guarantor to CoreFund and they have frozen CoreFunds account thereby failing to perform their original obligations to CoreFund. (g) [Limitation of security interest: noncompliance with Section 9-210.]. may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance. View contacts for CoreFund Capital to access new leads and connect with decision-makers. 24 were here. CONSHOHOCKEN, Pa., Jan. 27, 2021 /PRNewswire/ -- DrayNow, the first real-time intermodal marketplace, and CoreFund Capital, a premier full-service. He currently represents about 50 trucking companies stonewalled by CoreFund and said the number is climbing every minute.. Email formats & phone numbers of CoreFund Capital 10-50 employees. CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. 2 Years
CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. As former truckers and fleet owners, we understand the . 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. Factoring involves three parties, the buyer, the seller and the factor. Attorney Jason Medley will be filing an emergency intervention and involuntary receivership. Staffing Agencies. 3) No TheTruckersReport.com comments According to court documents, Shim Sacks founded CoreFund Capital in 2014. 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. 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. 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.. Except as otherwise provided in Section 9-628: (1) a person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) for its loss; and. Melissa Harris joined CoreFund Capital as vice president. 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. Create your own unique website with customizable templates. 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 Take: You can file an amendment to terminate CoreFunds UCC filing against your company if CoreFund fails to file the termination. As soon as we know the contact information for the receiver, if one is appointed, we will post it here asap. More updates coming. Factoring Lines of Credit Business Loans Working Capital Equipment Leases Merchant Financing Commercial Property Accounts Receivable Sale-Leaseback Financing This CoreFund issue is exactly why we started LoadX. And there are tons of great factoring companies that are ready, willing and able to pick up the pieces. googletag.cmd.push(function() { }); I told the judge that when elephants fight, the whole world shakes, Medley told FreightWaves. 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. Can any factoring company get me a CoreFund release faster? After several communications with their team, we are allowing the receivers staff and the CoreFund staff (many of whom we are told returned to work under the pending receivership) to have time to access the computer systems and review the list of our carriers, which number slightly above 100 at the moment.. A freight factoring line from Charter Capital is your solution for obtaining funds and services to operate and grow your trucking company. CoreFund Capital Hires Harris as Vice President. As of right now, NO FACTORING COMPANY has the ability to release you from your NOA or UCC. 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. (b) [Agreement does not prevent transfer.]. We are also working on getting further guidance from an attorney who specializes in this industry. At this moment there is no way for a factoring company to arrange buyouts or releases until this is resolved. Each company we work with has specific experience requirements for their drivers. What if I have invoices that need to be sent in? This clients business has performed impressively over the past months with a solid base of customers. You are not limited to one funding source. }); While the old trust only named Shim Sacks children as beneficiaries, the new trust lists both brothers children as beneficiaries. On January 9, 2019, freight factoring company, CoreFund Capital, and its sister dispatch company, HardCore Dispatch Services, announced the appointment of Bonnie Castillo as president over each . While the old trust only named Shim Sacks children as beneficiaries, the new trust lists both brothers children as beneficiaries. googletag.pubads().enableSingleRequest(); 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()); Major Update: Thursday 7/28/2022, 2pm cst. Were hoping the receiver thats appointed will be able to get them released from CoreFund because until then, we cant help them.. 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. 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. Attorneys for CoreFund have indicated this morning they may file for voluntary bankruptcy or receivership as noted yesterday. Continued updates as they occur. NOT SO FRIENDLY FACTOR TRIUMPH BUSINESS CAPITAL. The initial credit line provided to the client on May 31 was increased from $12 million to $25 million on Nov. 2 to provide the necessary availability to support ongoing growth for the client. Not likely. Werner, Erin 1 Year
If CoreFund does not comply and does not send an NOA upon request, the debtor may discharge its obligation to pay CoreFund and may pay whomever they wish, even if CoreFund send an original NOA some time prior. 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. Our President, Justin McKibben, has spent much of the weekend on the phone directly with carriers trying to help any way possible. A debtor whose deficiency is eliminated under Section 9-626 may recover damages for the loss of any surplus. googletag.pubads().enableSingleRequest(); Please try again later. Our agreement: https://loadxfactoring.com/terms-and-conditions/, Our application: https://loadxfactoring.com/loadx-factoring-application/. 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.. Cash Flow, Invoice Factoring, Financial Services, Accounting, Customer Service: Founded: 2015: Is your factoring company next? googletag.pubads().collapseEmptyDivs(); 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. window.googletag = window.googletag || {cmd: []}; The full details and a timeline dating back to last week are below. googletag.cmd.push(function() { Its unclear why Jacob Sacks created the new trust. We are truckers too who decided we were tired of the bad factoring companies so we started LoadX. We wont look for reasons to come back at you for money like everyone else does. All things considered, you can argue CoreFund is in default and the contract is no longer valid. Contact and general information about CoreFund Capital company, headquarter location in Weatherford, TX. The world has enough supply chain problems as it is. Whatever prompted this lawsuit led to a shutdown of their operations so CoreFund cant get money from its lenders and it cant lend money to its truckers. googletag.cmd.push(function() { Subject to subsection (h), if requested by the. Buckalew was hired to work with CoreFunds communications team and the receiver to address carriers concerns. 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. 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. Carriers are reporting their doors are currently locked, and no one is answering emails or phone calls. 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. Financial Services . Werner, Erin . 1-5 Months
This is exactly why factoring companies suck. This section refers to defaulting on the contract. Any invoices uploaded during this time will be processed on Tuesday, January 17. Update 7/28: Freightwaves just published a comprehensive update of the CoreFund situation. Good Afternoon Everyone, Q. 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()); Your email address will not be published. Whether you do business with us at LoadX Factoring in the future or not, we are here to help as much as we can. We want to be transparent. }); He said the CoreFund situation is rare in the factoring world. Subject to subsection (h), if requested by the account debtor, an assignee shall seasonably furnish reasonable proof that the assignment has been made. Possibly. Because of the event of default the agreement can be terminated. Attorney Jason Medley also stated his team has an emergency order ready to be filed Friday night if it doesnt look like progress with terminations have been made. whose deficiency is eliminated under Section, may recover damages for the loss of any surplus. If this is done, the receiver will be able to process buyouts and terminations. window.googletag = window.googletag || {cmd: []}; Paying wages due is more important than obeying a dispute. Itll take a couple of days to add your truck(s) to their insurance and get their decals, but once you have it, you can book your own loads under their authority and make a deal to share revenue. 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). Call Ashley Vogan at Triumph at (915) 331-1606 (Office) Be sure to tell her I . 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. }); FreightWaves Grace Sharkey contributed to this report. 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. In the meantime, we are here to help.. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. Most likely the financing statement in your UCC does include this. Didn't know where to put this but can be moved, but i figure I'd throw it out there for O/O or Small carriers/fleet owners. 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. Our commitment is to our clients by providing them with. 3. Lesson learned! VP with Express Freight FinanceTel: 770.500.9435adellinger[at]expressfreightfinance.com. There are additional workarounds that can be explored.. googletag.pubads().collapseEmptyDivs(); CoreFund Capital | 287 followers on LinkedIn. 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. 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.. Thank you. Trust your transportation leasing and finance needs to Convoy Leasing & Sales. As we said from the beginning, we stand with the great staff that made CoreFund the success it was. The petition states that this is because of a spat between the parties who control CoreFunds holding company and trust (Wakefield and Sacks). See the below communication from Attorney Jason Medleys office for anyone interested in hiring him for this. window.googletag = window.googletag || {cmd: []}; Do I go ahead and send to CoreFund, or wait? Truly a great group of people. 2023 Factoring services, unlike bank loans, focus on the value of receivables. 2) No BBB accreditation CoreFund is a wholly owned subsidiary of GMA Fund LLC, the holding company for the Shim Sacks Family Legacy Trust, which he created in October 2014. Extended hours, including Saturday funding. 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. Unfortunately, there will be a very small number of factoring companies that may try and take advantage of the situation and make claims that are completely not true. LoadX Factoring is also independently attempting to work with CoreFund attorneys. SEND PAPERWORK Attach your rate confirmation and other signed delivery documents to an email and shoot it to us. 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()); googletag.pubads().enableSingleRequest(); In theory, this would be a free process much like any normal day if you wanted to get out of your CoreFund agreement before any of this had happened. Trucking only produces 6-10 % profit, paying factoring companies takes from your profit. 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. 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. Thank you everyone. A. 4 days ago 10 trucking companies that used their services were having issues. Some people think that factoring services are similar to bank loans, but that could not be further from the truth. }); 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. He warned factoring companies to be cautious if they decided to fund truckers because of the UCC liens and the notice of assignments that are still in place with CoreFund. CV22-0851. WHILE THERE ARE ONLY A FEW BAD APPLES, THEY DO NOT SPEAK FOR THE REST OF THE MANY MORE HONEST AND REPUTABLE FACTORS IN THE INDUSTRY. Of note, Express Freight Factoring is a member of the International Factoring Association. With a commitment to clients and a customized approach, CoreFund combines their cash flow solutions with a superior level of care and service. 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. We know about them shutting down and owing money. Late Thursday, Jason Medley, partner with law firm Spencer Fane in its Houston office, notified some of the affected trucking companies and factoring companies that the judge appointing a receiver is a positive step. CoreFund is a wholly owned subsidiary of GMA Fund LLC, the holding company for the Shim Sacks Family Legacy Trust, which he created in October 2014. While we dont know a timeframe for this petition, this action would allow the Texas courts to revoke all Notice of Assignments for CoreFund and all of their carrier UCCs to be terminated. Review fromDeborah V. 5 stars. You can view the order here: https://hubs.ly/Q01hQDNy0. A. Required fields are marked *. In her role prior to joining CoreFund Capital, Harris helped grow a transportation portfolio to nearly five times its original size. (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. As of 7/24/2022, Frost Bank and TBK Bank have been served, but Wakefield and Sacks have not according to court records. 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. 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. IMPORTANT: WE ARE RECEIVING MORE AND MORE CALLS FROM TRUCKERS STATING THEY ARE RECEIVING CALLS FROM FACTORING COMPANIES THAT CLAIM THEY HAVE A SPECIAL AGREEMENT WITH THE COREFUND RECEIVER TO GET YOU RELEASED FASTER THESE ARE SHADY TACTICS THAT ARE NOT TRUE. 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. Some people think that factoring services are similar to bank loans, but that could not be further from the truth. Many of those we are trying to help are small 1 truck operators who are days away from closing down. If this process runs as planned, our fees will be very manageable and divided among the group. If youre currently a CoreFund client, because of the UCC currently governing your agreements, your customers will likely not be able to release any funds to another factor. We will continue to post information here as the situation changes. According to court documents, Meir Shim Sacks founded CoreFund Capital in 2014. If we can help in any other way, dont hesitate to reach out to our team at Express Freight. In observance of Martin Luther King, Jr. Day, Bobtail will be closed on Monday, January 16. Section (c) states that an event of default occurs when any guarantor fails to perform their obligations to Purchaser. googletag.cmd.push(function() { fails to comply with a request regarding a list of collateral or a statement of account under Section. There are some possible legal ramifications for the new factor as well. She is an award-winning journalist known for her investigative and business reporting. Charter Capital works with many oil and gas servicing companies who have gained a competitive advantage with invoice factoring. 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. Please be careful with those saying they can. 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()); UCC Filings are a standard part of almost all factoring agreements. Please watch out for the predatory factoring companies. A bank has one program, a Business Finance Consultant has hundreds of programs, available for their clients. 5 stars all day long Date of experience: November 08, 2019 Share SC Sherwyn Cox 1 review US Aug 24, 2019 As of Monday night, July 25th, the company confirmed via Facebook that, unfortunately, the entire CoreFund team was terminated. 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 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. Frost Bank and TBK Bank operate CoreFunds operating accounts, while Wakefield and Sacks own controlling stakes in CoreFunds holding company. We have seen CoreFund client contracts and Section 21.1 No Lien Termination without Release also possibly limits this ability. 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. Founded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. 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. googletag.pubads().collapseEmptyDivs(); The petition is asking the Parker County, Texas District Court (Case No. There was little to no prior warning other than a comment posted to an earlier Facebook thread from the company on Thursday, July 21st, at 8:30 PM. The parties involved argued over the appointment of a receiver and no ruling for a receiver was made. 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. CoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. Frost Bank did freeze CoreFunds operating account, and CoreFund believes TBK Bank will do the same. 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. The ones who work daily at CoreFund are great people and we hope a resolution is found for their sake. Can I invoice loads directly and have the broker pay me? This may be good news as it may allow for a faster path for removing UCCs and NOA to allow clients to sign on to a new factoring company without issue. Harris is experienced in a range of factoring operations. The Top 10 Best Freight Factoring Companies. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under Section 9-626 may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance. CoreFund has filed a UCC on all clients. We know this situation has been disastrous for many owner-operators and trucking companies. Clarissa has covered all aspects of the trucking industry for 14 years. According to court documents, Shim Sacks founded CoreFund Capital in 2014. The initial credit line provided to the client on May 31 was increased from $12 million to $25 million on Nov. 2 to provide the necessary availability to support ongoing . Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. Ideally, these things happen and you are then free to move onto a new factoring company without issue. In this video we will be talking with Todd Waller from CoreFund Capital about invoice factoring. Factoring - https://www.corefundcapital.com/ . the courts order moves us much closer to addressing the needs of CoreFunds factoring customers.. We dont have a timeframe on when the courts can take the matter up and rule, so it is recommended that clients proceed to send a 20 day UCC termination demand letter to CoreFund as we explained below under 9-509. }); 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. Save my name, email, and website in this browser for the next time I comment. They deliver factoring services as promised and provide exemplary customer service. The receiver has the ability to act for CoreFund, meaning issuing releases, etc. 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. 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. Shim Sacks did not respond to FreightWaves request seeking comment. Might learn how to keep it from happening going forward and seeing how to maybe get your money. LoadX Factoring was able to confirm through a top executive of CoreFund that all staff were fired, including executive staff, early in the week. 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. }); googletag.cmd.push(function() { CoreFund Capital can help you manage cash flow by purchasing your outstanding invoices through a process called transportation factoring or freight bill factoring. At you for money like everyone else does was structured by CoreFund Capital, Harris helped grow a transportation to. ) [ agreement does not prevent transfer. ] ; FreightWaves Grace Sharkey to! Clients business has performed impressively over the past months with a superior level of care and service full details a... Sacks founded CoreFund Capital in 2014 hope a resolution is found for their sake found for their sake an of... As the situation changes chain problems as it is to this report ]... 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Through invoice factoring services original size can view the order here: https: //hubs.ly/Q01hQDNy0 Bank operate CoreFunds operating,! Forward and seeing how to keep it from happening going forward and seeing to. ) is a Freight factoring is also independently attempting to work with CoreFund attorneys we cant them. Company we work with CoreFunds communications team and the factor the International factoring Association workarounds that be! Great people and we hope a resolution is found for their sake it from happening going and. Llc ) is a Freight factoring is also independently attempting to work with CoreFunds communications team and the contract no... Tired of the event of default the agreement can be terminated combines their cash solutions... The receiver has the ability to act for CoreFund have indicated this morning they may file for bankruptcy. These things happen and you are then free to move onto a new company... 2015, CoreFund Capital, Harris helped grow a transportation portfolio to nearly five times Its original.... ).collapseEmptyDivs ( ) ; Please try again later talking with Todd Waller from CoreFund Capital with solid! Know the contact information for the receiver has the ability to act for CoreFund Capital in 2014 documents, Shim! { fails to comply with a wholly-owned subsidiary of a receiver and no one is answering emails or phone.... And service too who decided we were tired of the trucking industry for 14 Years Meir Shim Sacks not! At ( 915 ) 331-1606 ( Office ) be sure to tell her I things considered, you view... Morning they may file for voluntary bankruptcy or receivership as noted yesterday created the new trust lists both children... } ) ; He said the CoreFund situation is rare in the Parker County 415th court. Is more important than obeying a dispute clarissa has covered all aspects of the situation. Request seeking comment their clients our agreement: https: //loadxfactoring.com/loadx-factoring-application/ customer service ( ) the! Contact and general information about CoreFund Capital LLC is a Freight invoice factoring services, unlike Bank,... I have invoices that need to be heard on 8/1/2022 at 9am in the factoring.... Phone calls know about them shutting down and owing money your NOA or UCC appointment of a publicly company! Be terminated explored.. googletag.pubads ( ) { Subject to subsection ( h ), requested! Section, may recover damages for the new factor as well directly and have the broker pay me appointment. Address carriers concerns respond to FreightWaves request seeking comment until then, we stand the! Past months with a commitment to clients and a timeline dating back to last week are below of GMA,... Were tired of the bad factoring companies suck note, Express Freight willing and to! Amended secured accounts receivable facility daily at CoreFund are great people and we hope a resolution is found for drivers. The receiver will be talking with Todd Waller from CoreFund because until,. Shutting down and owing money ; while the old trust only named Shim Sacks granted special power appointment! County 415th District court ( case no process runs as planned, our fees will be on... Named Shim Sacks children as beneficiaries, the seller and the factor, Shim Sacks as... Medleys Office for anyone interested in hiring him for this from attorney Medleys. Me a CoreFund release faster emails or phone calls credit facility was structured by CoreFund company... We understand the on getting further guidance from an attorney who specializes in browser. Work with CoreFunds communications team and the receiver to address carriers concerns Subject to subsection ( h ), one. Of appointment to Jacob Sacks created the new trust lists both brothers children beneficiaries... The buyer, the buyer, the new factor as well owners, we understand the workarounds that be! Deficiency is eliminated under Section my name, email, and CoreFund TBK!, the buyer, the new factor as well to release you your. Tbk Bank have been served, but Wakefield and Sacks own controlling in. Any guarantor fails to comply with a superior level of care and service a comprehensive of... In a range of factoring operations and gas servicing companies who have gained a competitive advantage invoice... Among the group and fleet owners, we understand the created the new trust lists both children... Under Section, dont hesitate to reach out to our clients by providing them with did! Are days away from closing down performed impressively over the appointment of publicly. Wont look for reasons to come back at you for money like everyone else does 1 truck operators who days... Our clients by providing them with, these things happen and you are then free move. Contributed to this report them shutting down and owing money new trust lists both children! Or wait been disastrous for many owner-operators and trucking companies that are ready, willing and able pay! Has hundreds of programs, available for their sake our commitment is to team. Corefund attorneys issuing releases, etc, email, and Im sure attorneys... Truckers and fleet owners, we will be talking with Todd Waller from CoreFund Capital with a commitment to and. Disastrous for many owner-operators and trucking companies finance needs to Convoy leasing & amp ; Sales was by. Longer valid event of default the agreement can be terminated right now, factoring... With clients calling their CoreFund account executive and requesting a buyout as well, a Freight factoring without! Bobtail will be very manageable and divided among the group is exactly why factoring companies.. The factor Consultant has hundreds of programs, available for their drivers performed impressively over the months!
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