Eastern Pacific Holdings (easternpacificholdings.com) is a financial services company that provides small business loans and lines of credit. The company aims to empower small businesses by offering tailored financing options with flexible terms designed to meet each client’s unique needs. According to its website, Eastern Pacific Holdings has a dedicated team with years of experience and a vast network of lenders ready to assist businesses in securing the necessary funding to grow and thrive.
Despite its promising offerings, there have been concerning reports about Eastern Pacific Holdings, including a detailed complaint on the BBB Scam Tracker. One individual reported a significant loss after being asked to pay an upfront cost for a surety bond, only to find that no funds were transferred, and all attempts to reach the company’s representative were unsuccessful. This incident has raised red flags and warrants a closer examination of the company’s practices and credibility.
This comprehensive review will delve into various aspects of Eastern Pacific Holdings, from its service offerings and customer experiences to its online presence and regulatory status. We aim to provide an unbiased and thorough analysis to help potential clients make informed decisions. By evaluating both positive and negative feedback, we strive to shed light on whether Eastern Pacific Holdings truly delivers on its promises or if there are underlying issues that prospective clients should be aware of.
Stay tuned as we explore Eastern Pacific Holdings’ details, including its loan products, customer service quality, and legitimacy of its business operations. We will also provide practical tips on identifying and avoiding potential scams in the financial services sector.
Critical Review of Eastern Pacific Holdings: Red Flags Indicative of Fraud
Eastern Pacific Holdings presents itself as a financial services company offering a range of business financing options, including lines of credit, merchant cash advances, and small business loans.
While the website markets these services with promises of fast funding, flexible terms, and a streamlined application process, several red flags raise concerns about the company’s legitimacy.
Inconsistent Information and Poor Web Presence
The first red flag is the discrepancy in the company’s stated history. The website’s footer claims copyright from 2003, yet the domain was only registered in March 2024. This inconsistency suggests the possibility of fabricated information appearing more established and credible than it is.
Additionally, the lack of detailed information about the company’s history, leadership team, and physical location further diminishes trust. A legitimate financial services firm typically provides transparent and verifiable information about its operations and key personnel.
Advance Fee Loan Scam
A significant red flag is a detailed complaint on the BBB Scam Tracker, where a victim reported losing $15,500 in an advance fee loan scam. The victim was required to pay a surety bond upfront, but no funds were ever disbursed, and attempts to contact the company were unsuccessful.
This is a classic sign of an advance fee scam, where victims are tricked into paying upfront fees for loans that are never provided.
Limited Online Presence and Reviews
Eastern Pacific Holdings has a minimal online presence with very few reviews or mentions outside its website.
This absence is unusual for a company claiming to have years of experience and a vast network of lenders.
Reputable companies typically have multiple customer reviews and verifiable testimonials across various platforms.
Unprofessional Communication Channels
The website’s contact information, including a generic email (admin@easternpacificholdings.com) and a contact form hosted on JotForm, lacks the professionalism expected from a legitimate financial institution.
Using JotForm for applications and contact forms raises questions about the security and professionalism of their operations.
Lack of Regulatory Information
The website provides no information about regulatory compliance or affiliations with financial regulatory bodies.
Legitimate financial services companies are typically registered and regulated by national monetary authorities, ensuring they adhere to specific standards and practices.
Eastern Pacific Holdings Reviews
Eastern Pacific Holdings Scam Report from the BBB (Better Business Bureau)
The scam report from the BBB on Eastern Pacific Holdings provides detailed insights into a fraudulent scheme involving an advance fee loan.
Here are the critical aspects of the report, along with an analysis of the key details:
The victim was offered a line of credit (LOC) ranging from $200,000 to $620,000. However, to access these funds, the victim was required to pay an upfront cost of a surety bond initially set at $20,500.
After negotiations, this amount was reduced to $15,500. Despite paying this fee and being given access to an online portal supposedly for fund disbursement, no funds were ever transferred.
Since the start of Passover, attempts to contact the representative, Charles, via phone and email have been unsuccessful.
The victim reported a total loss of $155,000, a substantial amount highlighting the severity of this scam.
This significant financial loss underscores the importance of due diligence and caution when dealing with financial services requiring upfront payments.
Scammer Information
- Location: Brooklyn, NY
- Email: charles@easternpacificholdings.com
- Phone Number: (424) 603-2458
- Website: https://easternpacificholdings.com
This scam falls under the “Advance Fee Lo”n” category, a co”mon fraudulent practice in which scammers demand upfront fees for never-delivered loans.
Red Flags
- Upfront Fees: Reputable financial institutions typically do not require large upfront payments for loans or lines of credit.
- Lack of Communication: The inability to reach the representative after the payment is a classic red flag indicating a scam.
- Online Portal Access: Providing access to an online portal without transferring actual funds is a deceptive tactic to create a false sense of legitimacy.
- Unverifiable Contact Information: The provided contact information, including an email and phone number, appears to be a front for the scam, with no response to inquiries post-payment.
The scam report on Eastern Pacific Holdings illustrates a sophisticated advance fee loan scheme designed to defraud businesses seeking financial assistance.
The substantial upfront fee, lack of follow-up communication, and absence of fund transfer all point to a well-orchestrated scam.
Prospective clients should be wary of financial services requiring advance payments and thoroughly verify the legitimacy of any financial institution before proceeding with transactions.
This case is a critical reminder of the importance of vigilance and due diligence in protecting oneself from financial fraud.
Conclusion
Based on the comprehensive review and analysis of Eastern Pacific Holdings, significant concerns arise regarding the legitimacy of this financial services company. While the website presents an appealing array of financing options with promises of fast funding, flexible terms, and a streamlined application process, several red flags suggest otherwise.
The first primary concern is the inconsistency in the company’s state company’s. The website claims a long-standing presence since 2003, yet the domain was only registered in March 2024. This discrepancy points to potentially fabricated information designed to enhance credibility.
A detailed complaint on the BBB Scam Tracker highlights a sophisticated advance fee loan scam. A victim reported losing $15,500 after being asked to pay an upfront surety bond fee. No funds were ever disbursed, and subsequent attempts to contact the company proved futile. This situation is a classic hallmark of an advance fee scam, where upfront payments are demanded without any intention of providing the promised loan.
Moreover, Eastern Pacific Holdings has a minimal online presence, with few reviews or mentions outside its website. This is unusual for a company claiming extensive experience and a vast network of lenders. Using generic and unprofessional communication channels, such as a generic email and JotForm for applications, raises questions about the company’s authenticity. Additionally, the absence of information regarding regulatory compliance or affiliations with financial regulatory bodies is concerning. Legitimate financial institutions are typically registered and regulated, adhering to strict standards and practices.
In conclusion, the substantial upfront fees, lack of communication, and absence of fund transfers suggest that Eastern Pacific Holdings operates as a well-orchestrated scam. Potential clients should exercise extreme caution, conduct thorough research, and verify the legitimacy of any financial institution before engaging in transactions to protect themselves from financial fraud.
Benjamin and Lisa tried to pull the pay upfront scam on my business today. They offered a LOC of $645K but the origination fee was $18,000 to be paid up front
I discovered this too late. I was dealing with Lisa and John. Was promised $300,000 LOC and never got access to the online portal. After digging ESF Group Corp is the bond company but they don’t have a phone number they answer. The phone number is registered to ESF Marketing. It is registered in New York as a business. My local Sheriff’s office has ran the phone numbers to get a physical address and find these folks.