Forums: Discussions for entrepreneurs and small business.

They don`t want your house as collateral, (I don`t have one!) Only 9.9 % interest.

Does any one have had experiences with them?

Don`t it sounds interesting? Or do I miss something?

All banks are requiring some kind of collateral including SBA.

Have you done a Google search on them. Sometimes when I come across these deals I run a search to see if anyone has anything negative to say. I usually find out that they are scams.

 I don`t like their site, it forces the browser to behave in an odd manner. Had to close the tab to regain control of the browser, haven`t had any other site do that yet.

Needless to say I didn`t stick around long, but I did see they display the BBB logo on the bottom of the page, without the link linking their logo to the BBB page were they should appear. Did a search on the BBB and they are not listed, search for them yourself. I would avoid them, chances are they will get financial info from you and who knows what will they do with that. 

elids........ you must have windows vista. i pulled it up just fine on wifes computer, but on mine it did the same as yours did.!

ok i have some more news on the "unsecured loan source" . the correct web sit would be http://www.unsecuredsolutions.com/ . this company is well listed with bbb. they have a b+ rating. the other web site must be a scam using this companies idea to get by with. the only way i found it was by the address i found on "unsecured loan source" web site. that address belongs to unsecured source. i hope this helps!

The company still has to make money somehow - I haven`t found anything approaching a no-collateral loan used for a business without an outrageous interest rate attached to it.  They may also require a business checking account and take out the draft monthly from that - that`s how some SOHO loans I`ve dealt with work. They may just be a broker helping to find companies that will loan money to you.

There`s no such thing as a free lunch.


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No Eternal Reward Will Forgive Us Now for Wasting the Dawn.

You are all right! I call them back. Here is the deal: No finder`s fee.... but
9.9% initiation fee and you really have to work hard to get them to say it.
Interest rate is depending on the color of your eyes....
Thank you all, just another lesson!

But I m still looking for an unsecured loan!
I don`t have any real estate to offer as security, but they would accept a CD.
Any one with experience in that field?
Gilbert

Let me see if I understand correctly - they want 9.9% of the loan amount as an initiation fee. Is that prior to funding or paid from the loan?

I assume that is on top of what ever the interest rate is - correct?

So they aren`t the one`s making the loan - they are essentially a broker?

Which company did you talk with? There seems to be 2 with similar names and web sites.

 

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Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

Yep! Prior to funding. I believe the two addresses get you to the same site.
This is the highest fee I have ever seen, and yes they are broker

Next…

Gilbert

Yes - that`s what I think - next.

Good luck with your search for a "real" lending company.

 

-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com