Be especially wary if a lender insists on payment through hard-to-trace methods like wire transfers, gift cards, or prepaid cards. Jim,We appreciate you taking the time to share your feedback, and we’re genuinely sorry to hear about the frustration you’ve experienced. However, upon reviewing the matter internally, we want to clarify that the mistake was ultimately made by the broker, not by our team. We sincerely hope that you reconsider your review, as it unfairly reflects on our services, which we strive to deliver with the utmost professionalism and accuracy.
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Most importantly, before you enter any information on an online lender’s website, check for a padlock in the URL to make sure the site is secure. You can then click on the padlock to see if the security certificate is up to date. TrendMicro has written about fake loan apps and included a list of some of them. But just because a suspicious loan app doesn’t appear on one of these lists, that doesn’t mean it’s legitimate. Fake loan apps are designed to gather personal information and scam individuals looking for loans.
Grant scams
But startups, very small businesses, business owners with bad credit, and those with cash flow problems often have trouble finding funding. Are you a marketing guru with a passion for protecting consumers? ScamAdviser is on the hunt for a creative B2C Marketing Manager who can turn ideas into impactful actions.
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Fortunately, you can do a little digging before you apply for a loan or accept a loan offer. That way, you’ll know you’re dealing with a legitimate lender and not a fraudster. If you’re trying to get capital to grow your business, you want to make sure you’re dealing with a legitimate lender or financing company. It can save you from losing money and, potentially, your business. Again, be especially careful if your business is in a vulnerable financial position.
- Still, not having an SSL certificate is worse than having one, especially if you have to enter your contact details.
- Mark was fantastic, helping me get the loan approved in no time.
- Calculate whether your business can handle payments, even during slower periods.
- Lastly, share your experience with other business owners.
- + messages day and night but ONE message about this they do not send.
- Lastly, pressure to act quickly is often a sign of a scam.
If you’re receiving multiple business loan offers, there are several reasons this might be happening. Many lenders purchase marketing lists of business owners from credit bureaus and business data companies. When you apply for a business credit card, register your business, or take certain actions that appear in public records, this can trigger an increase in loan offers. Another red flag is unsecured websites requesting personal information. Legitimate loan applications may require sensitive data like your Social Security Number or Employer Identification Number for credit checks.
Avoid online scams effortlessly with ScamAdviser! Install ScamAdviser on multiple devices, including those of your family and friends, to ensure everyone’s online safety. My needs were assessed and approved for renewal at times when our company needed them most. I get calls from private bankers every day, wanting to lend us money. They have made a tremendous difference for us, particularly as the labile economic conditions prevail in our profession. Emily was knowledgeable and guided me through the entire process.
And I am also concerned because I provided with my personal information. In lexa funding reviews to this date every time I email my email comes back returned saying that is a invalid account. That said, a mortgage lender may require you to pay for things like an appraisal or inspection. So paying money before you get your loan isn’t always a red flag. Now, the lender’s BBB page may say it’s not a BBB-accredited lender―and that’s totally fine.