CoreFund Capital Hires Harris as Vice President. Paying wages due is more important than obeying a dispute. Save my name, email, and website in this browser for the next time I comment. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. 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. CONSHOHOCKEN, Pa., Jan. 27, 2021 /PRNewswire/ -- DrayNow, the first real-time intermodal marketplace, and CoreFund Capital, a premier full-service. Midway through the week of July 18th, clients reported being unable to reach CoreFund Capital, a freight factoring company based in Weatherford, Texas. The court documents state the rationale for wrongfully shutting down CoreFunds business resulted from a spat between Wakefield and Sacks. CoreFund Capital LLC, a freight factoring company, is a provider of financial services, specializing in business financing through invoice factoring. CoreFund is described as simple, transparent, and reliable, customers say they always deliver funds quickly and give services at a class-leading pace. The law firm representing him and CoreFund, Warren Fonville of Fort Worth, Texas, did not respond to FreightWaves request seeking comment. We want to be transparent. Can any factoring company get me a CoreFund release faster? 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. Menu icon A vertical stack of three evenly . Lesson learned! When you sign up for the trial on our website and talk to a representative, make sure you mention that youre a former CoreFund client so they make sure you get the extended free trial. googletag.enableServices(); googletag.pubads().enableSingleRequest(); While the effect is not immediate the receiver still needs to officially step into the process by paying a bond, etc. Its unclear why Jacob Sacks created the new trust. Somebody needs to go to jail for the hardships that youve caused in the past 2 mths! 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 petition states that CoreFunds bank accounts (and thus entire business) have been wrongly shut down. window.googletag = window.googletag || {cmd: []}; 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. NOT SO FRIENDLY FACTOR TRIUMPH BUSINESS CAPITAL. 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. 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. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. We are truckers too who decided we were tired of the bad factoring companies so we started LoadX. Our staff is hurting and struggling with this as we were completely blindsided. Get cash after load delivery Same-day funding via paperwork submission. 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()); Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. Trucking only produces 6-10 % profit, paying factoring companies takes from your profit. googletag.pubads().collapseEmptyDivs(); According to court documents, Meir "Shim" Sacks founded CoreFund Capital in 2014. 9-509. CV22-0851. Q. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. 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. fails to comply with a request regarding a list of collateral or a statement of account under Section. Apex Capital Corp - Established and help navigate . Alternatively, you may file a termination demand letter with CoreFund. However, a debtor or, whose deficiency is eliminated or reduced under Section. }); I told the judge that when elephants fight, the whole world shakes, Medley told FreightWaves. If you want to factor with LoadX Factoring the rate is 3.5% non-recourse, month to month, free same day and next day pay, no hidden fees. If CoreFund does not reply to the demand within 20 days, you may try to proceed with this method. May 7. CoreFund was founded by industry veterans with the sole mission of making factoring easier and more. He will need 1) a copy of your CoreFund factoring agreement and 2) your original UCC1 filed by CoreFund against your assets. Harris will be responsible for day-to-day operations at CoreFund Capitals corporate office in Weatherford, TX. Our credit checks are instant through our online portal. GMA Funding LLC, a global leader in factoring and alternative commercial finance, announced that the board of directors have selected James Rothman as Chief Executive Officer of GMA Factor and its operating units GMA USA and CoreFund Capital. Werner, Erin