Bull Market Solutions
Are you looking for your Business FINANCERS in USA?
Here are the types of Loans that we are FUNDING:
Commercial Real Estate Residential (non-owner) Fix & Flip, Rehab, Rental, Purchase, Cashout, HELOC New/Rehab Construction, Raw Land, Mobile Home Parks …
We offer financing for all your real estate investments. No minimum FICO score. Never any upfront fees. From 100k to 20 million. For instant approval within 24hrs please PM me you mobile number so we can text you the details.
FYI
Six (6) Common Business Loan Scams to Avoid When Applying for Financing:
1. Advance Fee Scams
2. Peer Lending Scams
3. Funding Kit Scams
4. Credit Repair Scams
5. Ghost Investors
6. Swindling Loan Brokers
(Credit:Fundera Inc.)
1. Advance Fee Scams
What It Sounds Like: “Business loans starting at 0% interest! No credit, low credit, and bankruptcy okay. Low application fee to get started!”
An advance fee scam is when an individual or company promises easy access to low-cost debt in exchange for an upfront payment. The scammer might call the payment an “application fee,” a “processing fee,” or a “one-time fee.” Whatever the label, the motive is the same: The scammer is asking you to put money down before they can approve you for a loan.
Advance fee scams are among the top five types of marketplace scams. These scammers entice you to pay the fee by promising that anyone can qualify for their low-interest loan products. These “lenders” often claim that a poor credit history or bankruptcy won’t prevent you from getting a low-rate loan. This is definitely a red flag. Most lenders, with the exception of extremely expensive merchant cash advance companies, have credit score minimums and restrictions on former bankruptcies. At the end of the day, the lower your credit score, the more you’ll have to pay in interest.
Tim, the founder of a leading energy company (name changed to protect anonymity), lost money through an advance fee scam.
Although you should be wary of advance fee scams, you should know that legitimate lenders might also charge upfront fees. For instance, banks often charge upfront application fees, credit check fees, underwriting fees, and origination fees before closing on your business loan. The key is who you’re working with. Lending platforms like Fundera pre-vet the lenders on their network, so you know that only legitimate lenders are receiving your information and money. If you come across a lender online who you’ve never heard of, and they ask for your money right away, steer clear.
2. Peer Lending Scams
Peer-to-peer lending scams on platforms like Reddit have become more common.
What It Sounds Like: Message on Craigslist, Facebook Messenger, Reddit, or other platform that says something like, “Low-interest rate loans up to $100K. Low credit and bankruptcy not a problem. All borrowers eligible. Apply NOW!”
Verified peer-to-peer lending platforms such as Lending Club, Prosper, and Funding Circle have become an increasingly popular avenue for business loan funding. These platforms draw on the power of numbers. Each site has thousands of investors, who can decide to buy a loan or a portion of a loan that meets their desired credit standards. So instead of having a bank or company as your lender, dozens of investors collectively act as your lender.
Trustworthy peer lending platforms can be a great way for business owners to obtain financing. Unfortunately, unscrupulous “peer lenders” use social platforms—think Craigslist, Facebook Messenger, even Reddit—to take advantage of unsuspecting business owners.
The typical peer lending scam often looks very similar to the advance fee scam we described above. The difference is that the solicitation comes from an individual offering a peer loan instead of from a phony business. These peer lenders will usually ask you for some kind of upfront payment to secure your loan—or to conduct a background check. That means, along with taking your money, these supposed peer lenders could also be requesting sensitive personal data—such as your full name, date of birth, and Social Security number—to complete their phony background checks.
If you fall prey to a peer lending scam, the supposed lender can steal both your money and your identity. And once they have the money or information they want from you, you’ll never hear from them again.
To avoid this scam, rely only on reputable peer lending platforms when considering any peer-to-peer borrowing opportunity. Never use a money wiring service like Western Union for a business loan (these services offer much thinner fraud protections than banks), and never offer payment up front for any reason.
3. Funding Kit Scams
What It Sounds Like: “If you have received this email, you’ve been selected to receive a Government Funded Grant. This Grant Kit could put thousands of dollars in your pocket, INTEREST-FREE. Many grants go unclaimed every year, simply because most people don’t know about the programs they may qualify for. Don’t let this happen to you!”
Some online loan providers want you to believe that obtaining a business loan is so complicated, you need to pay them to walk you through the process. Don’t buy this! This is one of many business loan scams. In this case, scammers might offer you insider tips or tricks to complete your business loan application, obtain special government grants, or qualify for some special low-interest business loan product.
The truth is that any and all information you need to obtain a business loan is readily available online—and for free—from verified online lenders, loan brokers, or marketplaces like Fundera. And you should be wary if you see “free” and “government grants” in the same sentence. With the exception of a few targeted grants for research and development companies and agriculture businesses, federal government agencies don’t offer free business grants. Plus, the US government will never call anyone to offer a grant. Information about government grants is available on the official website Grants.gov.
Have a specific question that you can’t find an answer to online? Any ethical lender or loan broker should be more than happy to answer your questions free of charge, providing you whatever information you need in order to make the right borrowing decision for your business. Anyone asking you to pay for information on obtaining a business loan or grant is simply taking advantage of your earnest search for information as a means to line their pocketbook.
4. Credit Repair Scams
What It Sounds Like: “Increase your credit score by 100+ points in less than 7 days! Lowest fees in the industry. 3-Way Disputes with Creditors, Credit Bureaus, and the FTC. Fast-Track Your Credit, and Sign Up Now!
Your credit history is the most important part of your financial record when you apply for a business loan, so scammers abound who claim to help you wipe out a poor credit history or raise your credit by hundreds of points overnight. These scams exist in the area of personal credit and business credit repair. New businesses are especially at risk for these scams because they haven’t built an extensive commercial credit history yet.
Although there are some legitimate credit repair companies, their services typically don’t add much value. You can do everything they are promising on your own for free. For instance, there’s a clear and simple government-mandated dispute process for removing errors from your credit report—you don’t need anyone’s help and can do this for free. And there are plenty of actionable steps you can take on your own to improve your credit score. If you really feel underwater and need some assistance, seek out the Justice Department’s list of approved credit counselors.
Don’t believe anyone who says that they are going to increase your credit score by hundreds of points overnight. Also beware of anyone pressuring you for upfront fees to improve your credit or who promises to remove negative but true information from your credit report (that’s not possible). Improving credit can take weeks, even months of financial discipline. The good news is that you don’t necessarily have to wait for the perfect credit score to apply for a business loan. There are plenty of legitimate lenders willing to work with you even if you have low credit or a short credit history.
5. Ghost Investors
What It Sounds Like: “We have a potential investor lined up for your business based on your business plan. Over $1 million of funding, in your bank account within 24 hours! No need to give up ownership! Just send in your $1,000 transaction fee!”
While not technically a business loan scam, this is another con job waiting to hit anyone on the market for business funding. In this scenario, the scammer will pose as an “agent” for a large foundation or financial fund, or even as a wealthy angel investor who is interested in funding your business. ��But instead of inviting you to make a pitch, they will try to collect sensitive financial information from you online. They might ask for your social security number (to conduct a “background check”), your business’s tax ID number, legal papers, or financial statements. Again, as with advance fee scams, the supposed “investor” might ask for an upfront fee.
Not only is this scam taking your hard earned money for an investment opportunity that will never come to pass—but these scammers are also gathering personal information about you and your business that can later be used for identity theft and other forms of fraud!
Many of these scammers prowl websites that connect entrepreneurs with angel investors and venture capitalists. If you’re interested in finding legitimate investors for your business, expect to put in a lot of time and effort building connections, creating a pitch deck, and meeting with investors. Equity financing is not a get rich quick scheme and can actually take one year or more to pan out.
6. Swindling Loan Brokers
What It Sounds Like: “Starting a small business? Need a Consultant or Agent to work for YOU? We can help! Best fees in the industry!”
This all-too-common business loan scam looks very similar to the advance fee scam, with the exception that the phony business in question is not a lender, but a broker promising to connect you with a reputable lender.
A loan broker’s role is to help you find the right loan product for your business, prepare the necessary paperwork for your application, and connect you with lenders who will be a good fit for your business’s needs.
While this is a lawful service available from verified loan brokers, the service becomes a scam anytime a loan broker asks you to pay upfront for their services. Ethical loan brokering services work on a commission-based model in which the broker obtains a percentage of the total loan after closing. And the best services take their cut directly from the lender and at no cost to you.
Any loan broker who asks you to pay up front is at best charging you for a service that you should be able to get for free—and at worst planning to take your money and run.
We offer financing for all your Real Estate Investments. No minimum FICO score. Never any upfront fees. From 100K to 20 Million. We approve you in 24 hours. Reply back for details...
Are you looking for your Business FINANCERS in USA?
Here are the types of Loans that we are FUNDING:
Commercial Real Estate Residential (non-owner) Fix & Flip, Rehab, Rental, Purchase, Cashout, HELOC New/Rehab Construction, Raw Land, Mobile Home Parks, Mixed-Use Buildings, Marinas, Equipment for Office and Large Projects / Loans for Mining Gold & Diamonds / Precious Metals Oil Drilling / Oil and Gas Projects, Buying, Selling, Drilling / Wind / Solar Alternate Energy Projects Large International Projects Business …
Contact us anytime if you need fundings …
For USA clients only …