I own a company that was out to get a line of credit. After finding this person Stan I thought this was the answer to our problems. Little did I know that as this is was a legal scam. They offered a guaranteed of at least $25,000 as a line of credit for the business. When all said and done we paid him $995.
Then Company number two comes in and and says yes we have it for you but this will cost you and we forked over another $3,000 which we paid. After that we found out it is a line of credit and we got a line of $40,000 and it consisted of 12-15 credit cards from all banks and credit unions.
Sure that would have been great but also we need cash to buy machines for the business and well to take the cash advance it was a 24% interest rate or higher. Just using the credit cards was great at 0-3% on the interest rate. We were misled and we could have applied for all these credit cards ourselves.
We did not need to spend $4,000 to do so and we were not informed it was going to be all in credit cards. So people please be careful with the even legal scams out there. I am hoping that my business will take off to help other start up businesses get started.
I will be doing another report on the other company that charges $3,000 to do this. Be aware and ask questions and if they say that its credit cards you can do this yourselves.
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