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Stay away from BAD financial institutions!!!

Discussion in 'Starting a Lawn Care Business' started by ltlbull, Feb 8, 2005.

  1. ltlbull

    ltlbull LawnSite Member
    Posts: 8


    My only advice is to pick your lender carefully if you are getting a loan for equipment or start-up expenses.

    I had a real bad situation with Sheffield Financial. They will rob you blind! I had financing that was arranged through the equipment company using Sheffield Financial and it turned real ugly when I returned the equipment for full refund. They were both pointing fingers at each other and I ended up getting screwed in the end.

    Needless to say I ended up with money out of pocket and nothing to show for it.

    Good luck,

  2. bowhunter1432

    bowhunter1432 LawnSite Member
    Posts: 43

  3. ProMo

    ProMo LawnSite Bronze Member
    Posts: 1,468

    I never had any problems with them. why were you expecting a full refund?
  4. CamLand

    CamLand LawnSite Bronze Member
    Posts: 1,300

    Please explain what they did to cause this hatred.I for one never had a problem with them but maybe your complaint is unique and will help in the explanation...
  5. ltlbull

    ltlbull LawnSite Member
    Posts: 8

    I was purchasing a piece of equipment with a 30 day money back, no risk trial time. Approx. 14 days after receiving the equipment and trying it out I decided to purchase a competitor's model. I informed the Manf. (it was a direct sale). Needless to say they were not to happy but did honor their agreement. This is were it get's nasty. I also called Sheffield to inform them I was returning the equipment before my first payment was due. They said no problem and stated they would expect there money from the Manf. Now the Manf. and Sheffield had a disagreement on how much was owed. They both agreed I had returned the equipment but Sheffield wanted me to pay the difference in their disagreement. I sided with the Manf because we both came up with the same figures, and they were at least trying to resolve the issue. Sheffield was not as professional.

    The bottom line is Sheffield was rude. They could have handled the situation better.

    Just my .2 cents.............

  6. jarroo's lawncare

    jarroo's lawncare LawnSite Member
    Posts: 116

    I was going to purchase a mower from one dealer and I was given a sheffield finance app. then went to another dealer that I found the mower at a better price and handed him the app. and he basicly said that they are thiefs and their interest rate is unbelievable and to stay away from them.
  7. PROCUT1

    PROCUT1 LawnSite Platinum Member
    from TN
    Posts: 4,909

    Ive used sheffield for years.....Usually get a six month no interest deal and pay for it in that time.....Some I have paid over a year or so.....Never had a problem and approval is real fast once you have a history with them
  8. NEPSJay

    NEPSJay LawnSite Senior Member
    Posts: 492

    Ive notived Exmark doesnt have Sheffield on their website anymore. Now they are using GE.

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