I happened to catch this “infomercial” this morning - apparently they’re in the DC area giving seminars on this thing. Not sure that I got how this Cash Flow thing works, but apparently you (heh) are acting as a “middle man,” linking up businesses with cash providers. According to one web site I found when I googled American Cash Flow Corporation, it’s something called a “note broker.”
Here’s the explanation of “how it works” that they offered in the Infomercial:
Company A provides umbrellas to company B, at a cost of $40,000.00, then submits an invoice to Company B for payment. Company B, however, can take 30, or 60 or 90 days to pay the invoice. Meanwhile, Company A has bills and needs the payment to pay them. Somehow, a notebroker for ACFC has access to this information; the notebroker also has access to “cash providers” (sounds like money launderers to me!) and finds one who will take the note and pay Company A $35,000.00. Then the cash provider eventually gets the entire $40,000.00 from Company B, and you, the middleman, take the $5,000.00 as your profit. That is, if I understood that correctly.
The continual use of the words “cash providers” set up huge red flags for me; I scampered out to my computer and logged on, doing a google search on the company. Sure enough, several sites identify it as a scam/scheme and several states have filed suits against ACFC (which goes/has gone by several different names, btw) for various bad consumer practices. The seminars are free, but apparently afterwards, in order to really get set up in the cash flow business, you must cough up some change … and we’re not talking small change here - it varied from $2,400.00 to as much as $5K :eek:
So, has anyone here had any experience with this company? Could it possibly be legitimate, or does this thing stink to high heaven, so to speak? lol Inquiring minds (mine at least) want to know!