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Advanced Fee Loan
Scams
There are a handful of companies across the U.S. and in Canada that advertise that they offer a business credit building package, and some that they are 'verified lenders'. All but a few of these are legitimate. In part, the internet has created a breeding ground for scammers to collect money from people looking to start new businesses, and offer no, or very little in exchange. These scams involve collecting an upfront fee in order to get the business owner the funding or credit line service that was advertised. Loan scams require an upfront fee to pay for alleged insurance on the money since they don't ask for collateral. This is a scam tactic. In some cases, once the consumer pays the fee, the 'company' is never heard from again. In other instances, empty promises are made and the 'company' drags the process on and eventually stops corresponding with the client.
Initial Underwriting Group is a privately held company that specializes in helping both start-ups and existing companies establish and build business credit while acquiring alternative business financing. Initial Underwriting Group requires an upfront fee however, this fee is value based, and covers the time and expenses involved with building the client's business credit, packaging and underwriting the business loan file. |
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Reliability and Security
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