Pay very close attention to your contract renewal date!! ITS A 45 DAY WINDOW!! ITS USUALLY 90 DAYS FROM THE CONTRACT EXPIRATION DATE !! LEAVE OR RE-NEGOTIATE A NEW CONTRACT AT THIS TIME!! These people control your hard earned money!! NO BROKER WILL DEAL WITH YOU WITHOUT A RELEASE FROM YOUR FACTOR ONCE YOU START FACTORING!! This review is probably the most important 1 minute thing you'll do all year!!! DO YOURSELF A BIG FAVOR!! READ IT TWICE!!!! YW!
Good news is if you're aware of these hidden charges they'll negotiate them away pretty easily but ONLY if you're are not already locked in a crappy contract with them. If you are already locked in a crappy contract with them than go against your instincts & DOUBLE DOWN!! Add another year & they'll erase the hidden cost that should have never been in the contract in the first place!!!!
I started my company 3 years ago and CJM helped me build it... there has been ups and downs but they solved every problem i came across with them... i dont know what other people are saying but for me there is no percentages that they charge, they do take there money back at 60 days... i guess it all depends on who they are working with... its simple, i email my paperwork and if broker is ok with copy i get my money the next day!!! I HA NOT EXPERIENCED A BUYBACK YET IN 3 YEARS... so
Well first off this is to JOE HUNT he used to work at Rugged Companies and doubled billed often which means his review is false with CJM it was on him for all the screw ups not CJM. And Brittany you do a very very awesome job we appreciate it very much. I'm sorry for the false review... I been doing business since 2006 with CJM and had no regrets what so ever.
I have been with CJM for 3 years and I have had an amazing experience. They recently went under a lot of new management and it has only gotten better. If you want to be treated friendly and cared for this is the factoring bank for you. I have recommenced CJM to few companies and they love it as well! Low rates, friendly staff, & quick access to your account are only a few of many great things they offer!
If you can, please stay away from this company. there is too many great companies out there.
They offer a descent rate. They will pay when they say. You can trust them to do what the contract says. They do have hidden cost however. Their default contract. Charges you an extra percentage point for every time a broker pays later than 30 days. NEARLY EVERY BROKER PAYS LATER THAN 30 DAYS!!! Most send off the money in 30 days so by the time CJM gets the money its 31 or 32 days and they than feel free to take an extra percentage point out of your reserves!! Every 10 days its another percentage point!! This all comes from your reserves. END OF THE YEAR NEARLY ALL OF YOUR RESERVES ARE GONE!!!
Worse of all They only offer a 45 day time period to get out of the contract than it automatically renews & you are trapped for an unexpected extra year!!! TRANSLATION (YOUR SECOND YEAR CONTRACT IS 45 DAYS LONGER THAN THE FIRST CONTRACT THAT YOU ACTUALLY SIGNED UP FOR )
Cjm Financial is a US Finance company based in Ankeny, Iowa. Cjm Financial is located at 1014 SE Lorenz Dr, Ankeny, IA 50021, USA.
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