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Article: Fort Smith Man claims he was misled by lender: Arkansas Capital says it made no funding promises. (Banking Finance).(F. Max Cloninger III of Lenders Credit Corp.)
- Article from:
- Arkansas Business
- Article date:
- April 29, 2002
- Author:
CopyrightCOPYRIGHT 2002 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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F. MAX CLONINGER III AND Arkansas Capital Corporation Group in Little Rock don't see eye to eye on much these days.
But they both agree that Cloninger, the 38-year-old owner of a Fort Smith credit reporting agency, came to Arkansas Capital Corp., a member of ACCG, in February in search of $100,000 in business funding. He wanted to launch a service that could help marginal mortgage candidates clear up errors on their credit reports and then match them with willing lenders.
Beyond that, both sides disagree on just about everything. Cloninger claims his faith in ACC -- specifically, in former partner Jay Baggett -- has likely cost him his business. But ACCG ...