SIF Group Funding Status

CoalCzarCoalCzar Posts: 1subscriber
edited June 2009 in Startup Funding
I was wondering if anyone had any information on SIF Group and if they had funded or not.  I was watching the last post on this group and all of a sudden the topic was closed.  I would appreciate any information before I get involved.
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Comments

  • stackstack Posts: 0subscriber
    i have been following this forum  for a while and i am supposed to get funded this week can anyone tell me if they have gotten funding.my email is [email protected]
  • dric3000dric3000 Posts: 0subscriber
    I don`t have any updates on funding. I too was supposed to be funding this week. My original fund date was set for June 2. On Monday, June 1, I was rescheduled to June 4 because funding docs had not been received. Today, I was just informed funding docs are now being sent by the end of business day Friday. I don`t have a scheduled funding date as of yet. Is anyone else experiencing this type of delay?
  • alterego970alterego970 Posts: 0subscriber
    I myself received an email directly from SIF sometime in early May stating that their entire program was being revamped due to numerous outside problems.  I was told that all exisiting apps including mine were being reprocessed and that all of us would be guaranteed funding sometime between June 1-5 which is this Friday.  As of yet I haven`t heard anything else as to when I would be funded so I am giving it until close of biz on Friday as orig indicated.  dric300, have you been receiving updates from SIF driectly or thru your broker/reseller?
  • dric3000dric3000 Posts: 0subscriber
    I have been receiving updates from my broker/reseller. I have never had any direct communication with SIF. I am not aware of any program changes at this time, but will keep everyone informed of what transpires.
  • dric3000dric3000 Posts: 0subscriber
    alterego970- were you given the specific changes that are being made to the program? I would like to know if any of these changes have to do with the insurance, investment platform or the fees.
  • alterego970alterego970 Posts: 0subscriber
    According to the email I received from SIF the program changes weren`t going to affect those who already had pending apps.  It only applied to new apps, there would be no more reservation fees at all, no more "resellers", max 25 biz day funding, and all would be streamlined to prevent the problems that plagued this go round.  Sounds like they did their homework to improve it but I`m still waiting on my original funding to go thru first before I worry about any changes.
  • tunajaztunajaz Posts: 0subscriber
    I am also waiting for funding I sent my money and got approved on April 15, May 15th would have been the date that I should have funded but nothing. I did get a letter saying that the company was going through a restructuring of sorts because there was over charging going on with the fees charging more than 695. This letter also said that between the 1st and the 5th of June we were getting answers and or funding. This is from 2 resellers that work for the company stay positive if nothing happens by the end of this month I have more info and will give it up by the end of the month. Because if nothing happens I want all hell to break loose on these guys and this roller coaster ride that I`m feeling rite now. 
     
    Only one thing worries me the phone number I have is not disconnected but they dont answer or it goes to mail box full. 
  • CoalCzarCoalCzar Posts: 1subscriber
    I too have been informed that there will be no fee for new applicants but the reason I started this post was to find out what was going on because I have had my application ready since the end of April and I was told they would start accepting new apps on May 8th and then it was moved to May 26th and still they have not begun accepting them.
     
    I just want to get thorough information before I start getting my hopes up as I am sure everyone who has applied for the program are depending on funding to help them realize a goal.
  • DonnyDonny Posts: 0subscriber
    I just got an email from my broker that said the whole thing was a scam. They can`t get ahold of the CEO and her contact in California is quite upset. She thought they were legit and had been told how to set up everything to sell the SIF. We paid $2,000 up front fee`s and the girl is now trying to figure out how to pay us back... SCAM.. I`m more worried about my personal and banking information than anything else...
     

    This is the one of the surprise emails I got last night:

     
    I spoke to Cheryl a few hours ago and apparently she has not heard from the CEO`s or anyone at SIF and it appears they have vanished.  This is definitely worrying her because my corp plus a few hundred of her clients were supposed to fund this week.  Without closing docs sent to us, unfortunately we are all in the dark and we fear they were a big group of scammers!!  Sick I know but I really felt comfortable with the program and talked to a few people that allegidely got funded.  Cheryl mentioned to me that she will refund everyone on Monday so I would be giving you back 1k and I would have to refund you another 1k out of my pocket but I am not sure what date I can do that right now as I am trying to figure out how I am going to do this for all of the clients I submitted for funding with SIF.
    I am terribly sorry, I did not forsee this happening and I am still in shock that there are people out there making up scams like this!!   Its really scary!
    Give me a call tomorrow so we can discuss this matter further.  Again I am sorry for the inconvenience this has caused you.
  • dric3000dric3000 Posts: 0subscriber
    tunajaz- your start date and mine are the same. i too was looking to fund in may only to be delayed to june 2, then june 4 and now no set date. so, your broker was informing you of the changes/delays? i`m pretty much left in the dark about what is going on and why funding continues to be delayed. i ask my broker/reseller and get some vague answer. as of now, my funding docs are to arrive by the end of the business day friday. if you don`t mind sharing the information you received, my email addres is [email protected].
  • tunajaztunajaz Posts: 0subscriber
    dric3000 lets stay possitive till next week or so and see if any new info pops up. I will gladly give up what I have which is not much. Just names and company info same that I`ve seen in past posting and some emails that I`ve gotting. I just want to make sure that we give people a chance to make this right. Thats if they`ve really had proplems with there agents and brokers like I`ve been told. It does not make sense to me to scam people for little money in volumes and risk going to jail for a small amount.  
     
    I`ll keep you & everyone posted
  • stackstack Posts: 0subscriber
    I was also told that they were ironing out a few details and also working on the website to explain the changes in the program. I havent got a new date yet but i was told.my funding day i  was the week of the june 6 th.tomm. is friday so i cant see how this will happen.
  • WTF411WTF411 Posts: 0subscriber
    Hello to anyone who can help me! I have been watching the previous forum and saw that they shut it down early last month. I too am waiting to fund and have many friends as well as family members that have chosen to follow my lead and send in all information that the reseller wanted as well as the application fee. I have been told the same thing that I was suppose to fund last week and now they said it would be this week but it is Friday at 1pm and have heard nothing from anyone and am beginning to worry that this is a scam. I am confused as to why they would want to scam for such little money and to go through this in such great lengths seems a waste of time for them. Please notify me if you fund and I will do the same.
  • WTF411WTF411 Posts: 0subscriber
    Also can anyone tell me what the website is?
  • WTF411WTF411 Posts: 0subscriber
    I am sick to my stomach that someone would have the nerve to do this to good hard working people who don`t just have this kind of money and are trusting a company that they can deliver on a product that they ask for xxxx amount of dollars upfront.
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