Advance Fee Loan Scam - Business Capital Reports & Reviews (1)
Advance Fee Loan Scam - Business Capital Contacts
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SCAMPULSE
Scammer's address New York, NY 10005, USA
Scammer's email [email protected]
Country United States
Total money lost $25,000
Type of a scam Advance Fee Loan
It's been quite some time since we submitted this proposal to your brokers for x
Did they ever give this information to you?
The details of the proposal are as follows:
* Proposal Amount: 190.000
* Payback Amount: 226.100
* Installment Amount: 3,768
* Payment Timing: Monthly
* # Of Payments: 60
Do you wish to go ahead with the approval outlined above?
P.S. You can reply with 'not interested' & you will not receive any further emails from our company.
Best Regards,
Noah Cohen
Quick Capital Solutions
Working Capital Advisor
40 Wall Street, NYC 10005
After asking a few more questions and trying to do some research I was told I needed to fill out an application. After a few days I received an email from an approval email from Thomas Flint
Congratulations! Your deal for x has been approved for financing with Better Loans, LLC. Below you find the details regarding the terms of this offer.
All offers are subject to final underwriting review and acceptance.
Note* This is a "rate blended" bridge term loan after 30 successful payments.
Business Name: x
Offer Amount: $15,000
Buy Rate: 1.617
Term Length: 48 Days ($505 Daily)
Business Name: x
Offer Amount: $290,000
Buy Rate: 1.08
Term Length: 72 Months ($4,350 Monthly)
Below is a list of stipulated Items for this deal:
Picture of Driver's License or Passport
Voided Check(s) for Business Accounts provided for Underwriting
Agreement for Direct Deposits (ACH Credits) and Direct Collections (ACH Debits) - Via Online Portal
Addendum to Payment Rights Purchase and Sale Agreement (fee schedule) - Vial Online Portal
The above offer(s) expire in 3 business days.
It didn’t seem that unusual to have to build up a payment history to fully qualify for the second loan, however when they requested $3750 up front as the origination fee for the larger loan they should have been my cue this wasn’t all legit, unfortunately they had already deposited the first installment of the smaller loan in my account. I made the first 30 payments as instructed and received 2 more deposits, however once I made the 30th payment that’s when everything changed. Noah became increasingly hard to reach. Finally with the help of Ari Margolis with We fund Anyone he got Noah to respond who then told me he needed the Zero Balance Letter to proceed and instead of 30 payments made, Ari said he could give me that with 36 payments. I felt stuck and for whatever reason still thought this could be legit that I paid extra to get to 36 months. Ari provided me the letter and since then Noah has been non responsive. Ari has answered his phone and texts up until yesterday acting like he was trying to help me and claiming he knows Noah and that everything will be alright, however clearly I made a mistake here and now I don’t know what I am going to do.