Did Anyone Actually Receive Funding From 509Pacific (Business Paralegal Corporation / Thomas Montgomery)?
Business Paralegal Corporation, also operating under the name 509Pacific, represented by Thomas Montgomery and members of his family, claims to guarantee business funding of up to $250,000 within 30 days for a so-called “Fundable Shelf Corp” purchased through them — regardless of the client’s credit score or financial situation. They also claim they can provide a co-signer and make the newly purchased shelf corporation “fundable” within 30 days.
The process typically starts with a $5,000 upfront deposit, followed by an additional $20,000 so-called “Branch Office License” fee. They advertise that there are “no out-of-pocket costs” and claim that financing is provided for these fees. However, in reality, the so-called financing simply consists of splitting the payments into installments — 5 weeks for the initial deposit and 16 weeks for the main fee — all paid directly by the client.
Until the full amount is paid, they provide virtually no actual service besides sending weekly invoices every Sunday. They also charge a $50 late fee for each day a payment is delayed.
Another concerning issue is that the only payment methods they accept are money orders or bank-issued checks, which makes chargebacks or payment disputes extremely difficult.
From my understanding, many people have already lost money dealing with this company. The only individuals who appear to profit are the so-called referral partners who continue bringing new “victims” into the network, sometimes perhaps without even realizing it themselves.
If you have had any experience with this company or related entities, please share your story.