MedFlow Capital Scam review: MedFlow Capital & Greg Lemay Scam 8

Worst experience with Greg Lemay ever! Two tumbs down. Totally agree with posting.

I had applied for a loan with Greg Lemay in the past. Needless to say he took $5k from me and gave me the run around with numerious loan brokers and his constant quoting from his rediculous contract. He is a consultant and does not have the authority to approve of any loan or interest rate. Remember only the bank and their true underwriters can approve your loan. Never a broker or consultant. My wife is a lawyer and stated that for an individual to change his company name three different times there must be something seriously wrong with his work ethics not his company. It does not take a genius to figure out why he keep changing his companies name. I would never do business with Greg Lemay of "whatever company he may come up with" or refer him to anyone. It would be unethical for me to do so. I too highly recommend you avoid Greg Lemay for your own biological and financial health.

I am an underwriter for a bank. We had to issue Greg Lemay a lawsuit to stop sending us clients. Clients were being told by Greg Lemay they were approved with great interest rates. When our bank told them otherwise it had a negative impact on out client relationship. I believe Greg Lemay original company was Doctorfunds.com and now changed to MedFlow Capital.com.

To whom it may concern,
Medflow Capital, Inc. stands on its proven track record and the multitude of successes with our Physician clients. Inquiries into our methodology and practices are welcome. Our Physician clients are billed only upon successful funding of their loan. It has been that way from the beginning and that fact will not change. We invite anyone to see what sets Medflow Capital, Inc. apart from the rest. We believe that truth and sound business practices will protect you from cowardly and anonymous attacks that seem so prevalent on the web today. We will continue to strive for excellence in our customer satisfaction. Call us today at [protected] if you are a physician that needs Working Capital, Debt Consolidation, help with your Practice Acquisitions, etc.

I have dealt with Banker Heathcare Group and they too do not endorse or work with Greg Lemay from Doctorfunds.com now known as MedFlow Capital. They too had many bad experiences in the past. Every client he sent to them were told they were approved. If he ever send you to them it is not an approved referral. In fact there are many doctors looking for him in attempt to recover lost money. Please visit them directly at www.bhg-inc.com for any loan needs. Unlike Greg Lemay, they are not a consultant. They are an actual bank located in New York. Almost 100% approval rate with decent interest rates. Greg's rates and loans are too good to be true and you know what they say when it is too good to be true!

There are no words that can describe this individual. I'm a devoted Christian and I will not this individual get the best of me and my career as a healer. I let it be in god's hand to judge him.

We at Medflow Capital have been wondering where all of these “Anonymous” blogs and postings have been coming from? We knew they were not coming from our clients or so called “Former Employees”. There are blogs and postings stating that physicians have lost money with us? We want to set the record straight. We are paid only when a loan is funded so there is no one that has ever lost any money from Medflow Capital. After doing some research we have found out who is behind all of these “Anonymous” postings and it is a company called Bankers Healthcare Group out of Southwest Ranches, Florida. They are one of our competitors. Unfortunately, they are the only ones who seem to have too much time on their hands. They are so blatant to say in one posting, “Please contact (Bankers Healthcare Group) directly at www.bhg-inc.com for any loan needs. Unlike Greg LeMay, they are not a consultant. They are an actual bank located in New York. Almost 100% approval rate with decent interest rates. Greg's rates and loans are too good to be true and you know what they say when it is too good to be true. If you are a physician, you can check out what “actual” physicians are saying about Bankers Healthcare Group at TrustLink Community which is a BBB Program at http://www.trustlink.org/Reviews/Bankers-Healthcare-Group-Inc-206011693. They have 12 complaints there. They have 24 complaints on their BBB report. At Medflow Capital, we like all physicians to really know what they are being quoted and sold. If you have been given a quote or received documents from Bankers Healthcare Group, check for yourself what the actual A.P.R. is at http://www.efunda.com/formulae/finance/loan_calculator.cfm . It’s very simple, just plug in the numbers. At Medflow Capital, our number one concern is for you as a physician and we let you make the decision in with whom you trust your business to. Please call us at [protected] with any of your loan needs. Thank you. – Medflow Capital Management

You recommended Doctorfunds.com which is a scam run by con artist Greg Lemay who is using the illegal advance fee loan scam. Asking Doctors to pay $5000 for loans he says are approved but not, then refusing to refund their money. You as a writer should be more diligent in checking your sources. It is all online at the BBB of Dallas, Texas. Me and several of my colleagues followed your recommendation and now we are the ones suffering.

I concur. Greg Lemay the owner of Doctorfunds.com is nothing but a scam artist. He is known for furbishing documents stating you are approve for an amount with a fix interest rate along with a request for $5, 000 before funding. Once the money is wired to his Bank of America account, victims quickly learn that they were never approved. His contract is very deceptive and fraudulent. He never returns emails or phone calls unless you are a new potential victim. Many doctors have been conned. Texas state attorney informed me and several other colleagues of mine that we were unfortunately victims of an “advance fee scheme" which is illegal and is being investigated. If you have fallen victim, you MUST immediately contact the Dallas Texas BBB, your state attorney, Texas attorney, FBI, and IC3.gov.

The owner is Gregory Scott LeMay. He claims to have a committee, but I have never been able to talk to anyone beside him via unreturn emails and phone calls. He also claims to offer loans for doctors. What he does offer is "deceptive trade practices" and "advance loan fee schemes." He has conned numerous doctors out of $5, 000 each for "processing fees". According to the Dallas Better Business Bureau there were 50 complaints on their website for refund and contract issues. This infers that this liar has made $250, 000 worth of processing fees based on "deceptive trade practices".

Doctorfunds.com IS A SCAM owned & directly operated by Greg LeMay. He WILL take your money and you will regret it for the rest of your life.
I filled out an online application and 1-2 days later their "underwriters approved" me for a sweetheart deal no other bank could offer... working capital loan @8.5% for 10-yrs... JUST wire transfer or send a cashier's check for 5% of the loan as a "processing fee"to their Bank of America (routine# [protected], Acct# [protected]). Once they had my money I found out they were NOT a direct lender but a loan "broker" (scam artist is a better definition) and he has NO authority to negotiate or set loan terms or interest rates. I was referred to another company who was an actual lender. The person to whom I was sent even admitted "he didn't deal with those LeMay deals, he lets his assistant work them out". After waiting a month for true loan approval, my loan was declined. I tried cotacting Greg Lemay directly by phone & e-mail...no response. I filed a complaint with the Dallas BBB. After waiting a month, the BBB indicated they too, received no response from either Greg LeMay nor Doctorsfunds.com. Since I was already "screwed" out of my processing fee, I sent a copy of the bank letter declining my loan back to Doctorsfunds.com requesting another referral hoping to find a bank that would approve the loan. Boy was I nieve! They referred me to a different lender who offered to split the loan request into 3-loans each one small enough to avoid income verification. The first loan was an equipment lease/sell back for 60-months at 27% (twenty-seven) interest ! They wouldn't even present the terms of the other two loans until I agreed to the first. Needless to say, I declined... and at that point Greg LeMay had me... He has my money to process a loan no one would approve and when I declined a ridiculous offer of 27%, his contract states he has earned his processing fee in full and has no further obligation. PS, if you sue... you have to file & fight in Texas small claims court.
AVOID DOCTORFUNDS.COM... you're better off going to Vegas & gamble... if you win, the money is yours free & clear, if you lose it all ...at least you have a vacation memory... the only memory I have is of the money I will NEVER see again.

Greg LeMay of Doctorfunds.com is nothing but a con artist. He has conned numerious hard working doctors out of processing fees ($5, 000 each). This is how he runs his operation. A doctor in need of funds for their business or clinic contacts him to get a loan. He collects all their personal information and pretends to run it through a credit committee (there is no committee). After which he emails or call you to tell that the underwriter has approved the loan and ask for a $5, 000 processing fee paid upfront prior to funding. He ask that the money be wire transfer (for obvious reasons). Once the money is wired the doctor (victim) quickly learns that they were never approve and that the "real" underwriter never approved the loan. He does not incorporate the $5, 000 processing fee into closing because the bank will not allow it (it's illegal). He tries to collect from both the buyer and the bank. When the doctor ask for a refund he quotes from his contract (very deceptive). He will proceed to push you to other loan officers to incur $250/HR charge. He will avoid your calls and emails hoping you give up. One thing he does fear the most is people posting their experiences (scam) online. For all the doctors who have been conned please blog and post your experience online so others can be aware of his lies and scam. Even if you got your refund back please post your experiences. It is your duty. Greg will try to scare you by saying he will sue you for slander. First of all, if you write the truth about your experience you have nothing to worry about. No one can sue you for telling the truth. Second he has to file suit against you in your hometown and state. This con artists does not have the time and funds to do it. Third it is almost impossible to sue and win for slander. Once again, do NOT do business with them and all the doctors (50 according to the BBB of Dallas) please post your experience (tell the truth) online.

If anyone is even thinking of going to doctorfunds.com to obtain a loan for their clinic or business STOP. I lost $5, 000 to a Mr. Greg LeMay. I applied for a loan for my clinic. He confirmed via email and verbaly I was approved and asked for a $5, 000 processing fee. Come to learn I was never approved. I was only approved ** him and his company which is a consultant firm. I was eventually decline ** 3 loan programs through the first loan officer and rejected ** a second loan officer. I had requested a refund more than 30 times. Each time promised, but nevercame, eventually ignored, and now nothing. He continues to push me towards other loan officers each time lowering my loan in hopes of getting anything for me while at the same time incuring time so that he can bill for me. I have asked him to STOP and DEMANDED a refund numerous times. I have reported this company to the BBB. My next step is with the FBI, IC3, my state attorny, and Texas state attorny.

Doctorfunds.com and their V.P. of finance Greg Lemay were supposed to help find financing for my medical practice. Once they found a lender I had to send them $2500 to have the lender get in touch with me. The lender in question was told that the loan that I needed was for debt consolidation and not for the operating capital that I actually asked for. For this reason they were unable to meet my request. Since then I have left numerous voicemails for Mr. Lemay to call me so we could restart the process or I could get a refund per his contract. He has ignored these each time, yet found time to respond to a complaint I left on [redacted]! For any medical provider looking for help with financing your business, tread lightly when dealing with this individual b/c he is always available before he gets your money but is unreachable afterwards. You can also go to BBB website for Dallas. Doctorfunds has a C rating and of the over 40 complaints that they have 34 of them are for contract dispute and/or refunds. I was scammed, dont become a victim like I did!

AVOID DOCTORFUNDS.COM & GREG LEMAY. They offer so call loans to doctors. He claims "doctors are a good loan risk." What he really mean is doctors are "good victims." Greg (he does not even deserve the title Mr.) will ask for a processing fee $2, 500 to $5, 000 and you will never get your loan. All attempts to contact him afterward whether through email or phone calls are screen. The internet is full of blogs and complaints about him and his company. Do a key search on google "Docotorfunds.com scam." AVOID GREG LEMAY AND DOCTORFUNDS.COM AT ALL COST!

Do not use this company or this person to obtain financing your medical practice. He will "find lending options for you" and then require a processing fee before handing you over to a lender. This lender of course is then unable to handle your request. When you try to contact Mr. Lemay to discuss this fact, and to get your refund as stated in his "contract" the only thing you get is a voicemail, which he never returns! You will be out of anywhere from $2500 to $9000. Do not fall into the trap that I did. If something seems to true, then it probably is!

As stated in the original report, multiple attempts to contact Mr. Lemay have not been returned by him or a representative of his company. There was no breach of contract b/c they did not put me in contact with a lender that was able to provide working captial. If they are able to do this at this time or even respond to my phone calls then I would be happy to retract my original statment and post an apology. My concern is getting funding which as of this point has not been done. Doctorfunds.com has a C rating with the Better Business Bureau and apparnetly I am not the only person that this has happened to! Contact me Mr. LeMay and I will withdraw this report ASAP, otherwise to my fellow physicians, "Borrower Beware!" If anyone wants a copy of e-mails and agreement b/w myself and Mr. Lemay please post and I will be happy to send to your e-mail.

Monday, May 31, 2010
The Contract
On March 31 I got the good news "doctorfunds.com... is pleased to announce a Loan proposal that our lender has sent our firm. We sent them your entire loan package and they have made a decision to proceed with your loan. They have given us a rate and term. Details of the Proposal are in the attached Agreement. We just need the Agreement signed and faxed back to us along with a Cashier's Check for the Processing Fee." So bells and whistles should have started going off when I saw that he wanted a cashier's check for a processing fee that was never mentioned before.

I called him on the $2, 500 processing fee and he gave me a 50% discount. Nice guy. Little did I know at the time that there was no underwriter and the whole deal was a scam.

So the contract, in a nutshell, offered the following: $50, 000; 60 month term; Monthly payments of $1013.81 with no prepayment penalty and a fixed rate of 8%. Funds for working capital.

I told him that I was working with my local bank to see if they could do any better than his offer but he told me "I understand you wanting to hear back from your local bank but here's something we have learned in our 15 years of consulting physicians; If you use your local bank for a loan, it will go on your credit report and count against your debt to income ratio. You will also be using up that local line there. If you try to go back for more, you will have to pay off the entire balance of the other loan first." I had told him that I wanted to protect my local credit because I am planning to build a new medical office in the next 18 months.

"If you get a loan from us, it will not go on your personal credit and will not count against your debt to income ratio. You then have your local bank as "back-up" for later...Also, if you become a client of ours, you can come back later for more money and it will be much easier to get. It will just be a matter of telling the bank, "Oh, by the way, Dr. Gullible needs another $50, 000", and the'll say "No problem." You will be getting the money you need at a good rate and you will be saving your cash and your local bank lines as a backup which in these days of uncertainty and bank lending changing weekly, it's the wisest way to do it." I bought it. Literally! I was so naive!

I sent a signed contract and a cashier's check for $1, 250
Posted by OhBeeGuyKnee at 7:02 PM Links to this post
Labels: doctorfunds, greg lemay, medical loan, working capital
Too Good to Be True
The purpose of this blog is to warn other physicians about the sneaky tactics that were used on me by Gregory S. LeMay of doctorfunds.com. Here is my story.

I was looking for a little extra cash for working capital in the spring of 2010. I surfed online and found doctorfunds.com. It is a pretty nice website and I was initially impressed.

I called the 800 number and got a secretary. I left a message and Mr. LeMay called me back almost immediately. (Later I made many calls, all were prescreened but, believe it or not, none were returned...hmmm) I sent in an application and gave permission for the credit check and allowed my accountant to provide copies of my tax forms for the last 2 years along with a few other requested items. Mr. LeMay called me the next day to tell me everything looked perfect and he told me that he wished all of the people who applied with his company had credit scores over 800 like I did. He told me that it would be no problem to get me approved for a loan.

The next step, he said, was to let him submit my information to the underwriters and wait for an offer. "The amount approved will be determined using a proprietary formula based on the ... information you provide us. Once we receive all your information, we will submit your loan to the underwriter we believe will give you the best possible chance for an approval. An Agreement will be sent to you once we have heard back from one of our underwriters with a Proposal on your loan." So on March 30 I said to go ahead and submit.

Wednesday, June 9, 2010
First Offer
So on April 6 I was contacted by Will Sanio of SCF Funding with another application requesting "asset itemization." I was a little put off at first because I was lead to believe that my loan was already approved and I would have the money "within 2 business weeks." I sent a list of my assets to Mr. Sanio and waited.

The next day Mr. Sanio contacted me and told me that he was happy to let me know that my loan had been approved and that the interest rate would be 11% plus tax. "Tax?" I asked. He said that the loan was to be structured like a lease and therefore would require me to pay not only interest but also tax. I told him that I was not interested in paying that much for a loan that I was already approved for at 8% fixed. He said he had "other funding options" he could work with. So he was not even the underwriter but yet another middleman!

I contacted Mr. LeMay but he was very slow to respond and later told me that he had been "sick." I asked him if he was going to be able to get me the loan that he had promised in the contract or if I should look elsewhere. He wrote "were you not happy with anything SCF offered?" I told him exactly how I felt. I was offered one loan with specific terms and was offered another with much worse terms.

Three weeks after the contract was signed (and my check was cashed) I wrote yet another email to Mr. LeMay. I asked for a refund of my money or the loan as promised. He had the nerve to ask again "were you not happy with anything SCF offered?" Then when I told him he had already asked me that question and I had already answered it, he apologized and told me he works "with over 300 doctors a day" and "that can happen sometimes." I was steaming mad!

But...he already had my money so I waited for the next lender to contact me.

These are older posts from old victims of Greg Lemay in the past when he ran his scam under "Doctorfunds.com." His new company is now call Medflow Capital. Same scam different company.