Corporate Business Lending Scam or Salvation?
Is Corporate Business Lending scam or salvation for business owners? Fraud in the consumer finance industry is rampant, so we understand that you expect a company like ours to be able to prove they will hold up their end of the bargain.
There are a few questions to ask when you’re not sure whether a company can be trusted or not.
Are you being given a written agreement to protect yourself?
The cold, hard truth is that if you don’t have it in writing, it doesn’t mean anything. Corporate Business Lending provides every client with a full written agreement before beginning any work or accepting any kind of commitment from you. The reason why is simple: we have nothing to hide, and we do what we say we’re going to.
Does the business have a legitimate merchant service (in other words, if they charge a fee, are they using debit, credit, and ACH payments or are they asking you to send untraceable money orders or wire money)?
The all too common loan scam, where you send someone money and don’t get a receipt or a call back ever again, you are asked to send payment via mediums that you can’t track or reverse later, and either way, you don’t get your loan. The simple fact of the matter is that when payments are processed with a debit or credit card (as well as, often times, ACH), you are not only able to track each payment step by step, you are protected by both your card merchant and the company’s merchant. A corporate business lending scam will almost always ask you to pay through unconventional methods; we never have, or will.
What does the company’s online reputation look like?
We are big on honesty; just like any other company that works within the financial industry (or any industry for that matter), we have a few complaints against us. We take these very seriously, however our reputation is something we pride ourselves on.
We have been in business for over half a decade now; this means that as it stands, we average about 1 complaint per year. This is unheard of in our industry. Additionally, while we do our best to be as transparent as possible, on rare occasion we have had clients who felt they were being told they were required to retain us for other services, or who thought we were your bank or credit union (as we’ve mentioned, we are consultants). While none of these are true, unfortunately these misunderstandings result in negative feedback from time to time.
We absolutely do, however, have PLENTY of success stories we’d love to share with you. For some of these, head over to Corporate Business Lending Reviews.
What kind of fees is the company charging?
No one works for free, and no one should. That said, it is imperative you know EXACTLY what you will be expected to pay before getting started with any company. Any fees you will be charged should be outlined in a written agreement, and you should know that there are no other investment obligations throughout the process.
We do not require any extra or hidden fees throughout the process in order to work with you. We guarantee our work until you’re fully funded, and we mean it. Should you ever feel the need to retain professional work on business plans, websites, entity formation, and more, we’ll be happy to provide you a quote for those services during your underwriting consultation but you are never required to pay us extra money for us to keep working until you’re funded.
How did they get your information?
Truth be told, if you’re being cold called then you’re probably already in trouble. Your information has likely been sold and resold again and you have no way to know who has it. Corporate Business Lending ONLY responds to applications sent to us or our lending partners.
If there are fees, what are they for?
There are hundreds of different business models that third parties use in their financing process. Some accept percentages, some take commissions from lenders, some charge up front fees (retainers, much like other consultants, attorneys, etc.) One thing that should ALWAYS be a red flag is a company that takes “application” or “processing” fees, or you can bet you’re dealing with a corporate business lending scam.. Submitting some paperwork isn’t something you need to charge excessively for, nor is it an investment a consumer really needs to make. There needs to be a viable, tangible service or product.
For example, at Corporate Business Lending, our work is retained throughout the duration of the funding process and guaranteed until you’re funded, and this includes any paperwork and report development, your initial underwriting consultation, the full development of a funding assessment report, and any general consulting help you need.