I am into healthcare business and after learning that northlane capital partners has good grip on healthcare industry, I contacted them for investment strategies and growth surge. However, this was a huge mistake. Apart from the losses my firm and I had to bear, I was put through a lot of stress. This all started right after 15 days of our partnership. These people won’t reply on time and put me on hold for longer intervals as if I had nothing else to do.
When I got hold of them after long hours of holds, they won’t even apologize for the same. On the other hand, they would blame me for calling so often which was not at all the case. They told me that I was short on the minimum Earnings before interest, tax, depreciation and amortization measure. However, they would still consider me looking at the prospects of my business. The only thing they asked for was an increase in the initial investment amount. This was agreed from both the ends.
They told me the risks that were involved with this kind of partnership but at the same time, they assured me that they are masters in keeping those risks at bay for more than 99% of time. I was sceptical in the beginning as I did not have much back up if the partnership failed. I shared the same doubts with the manager who was the incharge of my account. He said that there won’t be any problem as he was experienced in managing companies like mine.
Everything went as said when we signed the agreements. They would call and inform me about the updates. As the payment was made, these guys suddenly stopped calling me at all. I was the one getting on their back to ask for updates and changes in the strategies. This went on for six months. I was tired as I was not able to see any growth or even any prospects that could have satisfied my doubts.
On the other hand, my clients started taking off from my business. I started experiencing shortening of company’s funds on a continuous level. This went on for all the months northlane capital partners was incharge of my investments. I had to finally asked them to stop.
I terminated the contract with this company way more earlier than was committed. The termination wasn’t any easy. I was put through a lot of stress and multiple calls. Apart from that, I was not able to concentrate on my business for very long. These all problems sent my business back to years before in terms of growth and accomplishments.
I was held responsible for all the problems my company went through and northlane capital partners took no responsibility. They said that they warned me of the EBITDA. However, they encouraged me to partner with them instead of low EBITDA. This is a fraud company and you should stay as far as possible from these scammers.