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Aug 22nd 2017, 11:47 AM   #1
 
  Jan 2016
  Beaverton

  2015 Kawasaki Ninja ZX6R, 2014 Kawasaki Ninja EX300 CRF250x, CRF150RB. XR100
S2G Racing? and 2Fast track days

Anyone know anything about these guys?

Anyone know why 2Fast is canceling track days with no notification?
Aug 22nd 2017, 12:47 PM   #2
 CodeBlue's Avatar
 
  Jan 2016
  Seattle, WA

  KTM 990 Adventure
Mark DeGross, the owner of 2Fast, put out a long Facebook message the other day, saying essentially that PayPal froze his account and that without operating capital they can't put on events.

Here's the post:

"September 9, 10, & 11th Event Notice

I am extremely upset that I must inform you that 2Fast is unable to make this 3 day event, or any of the dates on the 9th, 10th, or 11th happen. We have been hit with a terribly frustrating issue that is unfortunately giving the Ridge no option, but to cancel our event and give the date to others. Squid 2 Grid Racing has picked up Saturday September 9 at the Ridge and OPRT has picked up Sunday September 10. So if you'd still like to ride on the 9th & 10th, visit their websites and get signed up with them. I know this may inconvenience many of you. I truly apologize and if you care to read on, I will explain to you all what happened. If you could care less, then I hope you don't turn a cold shoulder to 2Fast and know I tried so hard to get things resolved to make this event. I am so frustrated with this situation.

First off. I want to ask you all not to be mad at the Ridge or their management. They did not want to do this either, but they are in business to make money too. As such, their policy and mindset was they couldn't extend dates until 2Fast is caught up invoices. As you read on, you'll understand more. Many of you are aware that 2Fast has a merchant account with PayPal. Not only did they handle our direct PayPal payments, they also did our credit card processing. 2Fast has had them do our credit card processing from it's inception in 2003. So 2Fast has been working with PayPal for nearly 14 years, with very few chargebacks or issues. Truly a very good record that even their customer service noted when I called them about the problem I am now in with them. Mid July I received an email from PayPal stating that they felt my business was too risky (credit card charging wise), there were some fraudulent charges I was doing, and that my credit score was too low. My credit score has sucked from 2011 because of an ugly divorce, so this was nothing new. There are no fraudulent charges, ever. And I have a fantastic record with them. I figured it had to be a mistake. As such, they were terminating my Credit Card processing. Which in itself, isn't a huge deal. There are plenty of online credit card processors. Here's the kicker though. In addition to shutting down my CC processing, they informed me they are also holding $25k in two different accounts for 180 days. Yes you read that right. 6 months holding my funds in my PayPal account because they can. That's January and I needed those funds to pay invoices in an already bad year. Many people say they can't do that. I agree, they can't. But they did and have yet to release them, despite many phone calls. I'm livid, yet essentially screwed. As I researched the issue, come to find out PayPal does this quite regularly, using the confiscated funds for whatever they want. Don't believe me, do a Google search on PayPal holding funds for 180 days for no real apparent reason and you'll see all kinds of people in my situation. Since they aren't a bank, they don't have as much fiduciary laws to follow, giving them a lot of gray area to operate in. Damn have I ever learned my lesson with them and I urge you all to close your PayPal accounts.

Those funds I couldn't transfer to my bank account resulted in 2Fast getting behind on invoices with the Ridge. I wish I could say it was only for $25k, but its more than that because of such a bad year with attendance too. The Ridge was willing to work with and still is, if I can get about half of my back balance paid. With my poor credit, after a 1/2 dozen attempts at a small business loan, I've been turned down each time, only adding to my frustration. As I type this I'm waiting to hear back from a few other lenders that say they can get me funding. Although a little too late, yet I'm trying.

I write this all to give you guys, my customers the truth. I've been in business for 13 years and I've never had a year like this, nor even an issue like this. You fellow business owners I'm sure can relate to the struggles of trying to run a small business. This is my year for character building I guess. I wanted you all to know the real scoop behind this. I didn't want to have this event cancelled and begged track management as long as I could to give me time. Yet, I respect them, their decision, and their willingness to give me some leniency to get this resolved, but as I stated early, they too have a bottom line to meet, and had to say no to me. Which I frustratingly understand.

Please know that our other events at Pacific Raceways and Portland International Raceway are not affected by this and those events are still going on. Our event on Monday August 28th at the Ridge is in jeopardy and I'm trying to see what I can do to make that still happen. I'll keep those of you registered for it, updated.

Again I'm truly sorry for the change of venue and hope you know that we are working hard to be in a better position for next year. We are not going out of business. Just dealing with a good kick in the gut in a bad year for us, getting tougher and wiser for future years. Should you have any questions regarding this email and such, feel free to reply to this email. I will get back to you regarding your question or comment.

Truly,
Mark DeGross
Owner - 2Fast, LLC"
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Aug 22nd 2017, 01:02 PM   #3
 
  Jan 2016
  Beaverton

  2015 Kawasaki Ninja ZX6R, 2014 Kawasaki Ninja EX300 CRF250x, CRF150RB. XR100
Thanks

Thanks CodeBlue!
Aug 22nd 2017, 01:39 PM   #4
 jared p's Avatar
 
  Jan 2016
  here

  there
S2G took the 9th, OPRT took the 10th, dunno about the 11th.
Aug 22nd 2017, 03:08 PM   #5
 DocB's Avatar
 
  Feb 2016
  Poulsbo, WA

  Aprilia RSV Mille, CB77, CB750K, CB750F
I would respectfully submit to anyone reading the story that it is important to remember that Paypal is not a bank, they are a payment processing service - a money changer. They do not have the federal legal obligations a bank may have regarding access to one's funds. Thus there is no particular benefit to leaving a large sum in a Paypal account, as it is only about as well protected as a money order. Moving funds to a bank account as soon as they have cleared may offer better protection, depending of course upon one's business activities. In some cases a storage locker might be best.

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Aug 22nd 2017, 08:16 PM   #6
 SalemCBR's Avatar
 
  Jan 2016
  Salem, Oregon

  Cbr600rr and cbr1000rr
Sorry to hear this. Mark is a good guy and has put together a great program so far. Thats a big bummer.
Aug 24th 2017, 07:51 AM   #7
 
  Mar 2016
  Seattle East Side

S2G Racing is headed up by Cody Cochran and his teammates. Well known in WMRRA/NW Track days/OMRRA etc. They're good guys.

If you are comfortable riding with 2Fast, you'll be comfortable with anyone.
2wheel-Will likes this.
Aug 24th 2017, 07:52 AM   #8
 SalemCBR's Avatar
 
  Jan 2016
  Salem, Oregon

  Cbr600rr and cbr1000rr
Quote:
Originally Posted by Astair1299
S2G Racing is headed up by Cody Cochran and his teammates. Well known in WMRRA/NW Track days/OMRRA etc. They're good guys.

If you are comfortable riding with 2Fast, you'll be comfortable with anyone.
Right on. I know Cody is a good guy.
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Aug 25th 2017, 08:42 AM   #9
 beansbaxter's Avatar
 
  Jan 2016
  Seattle, WA

  Ducati + KTM
That really sucks. I feel bad for what Mark is going through...

I'm not a fan of PayPal for the sole reason that Mark laid out. I've seen it happen time and time again to others. There are much better services out there for handling credit card processing... and if you have to use PayPal, you should be transferring your funds out of there on a weekly basis. Because PayPal is well known for holding funds when an account gets flagged, and there's nothing you can do about it.
Aug 25th 2017, 11:09 AM   #10
 DocB's Avatar
 
  Feb 2016
  Poulsbo, WA

  Aprilia RSV Mille, CB77, CB750K, CB750F
Quote:
Originally Posted by beansbaxter
and if you have to use PayPal, you should be transferring your funds out of there on a weekly basis.
Daily basis is even better. Transferring the money every day is kinda like putting a lock on your disc brake. It won't stop someone who is truly determined to take your bike. But if the bike next to it is easier to steal than yours, they'll take the one that requires less effort.

I hope Mark can get things straightened out with them.
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