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Am I getting scammed?
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4/20/2010 11:54 AM (PST)

My co is searching for a business loan. We came across this co.
I would just like to know if they are on the up and up. We have already paid our 99 dollar "enrollment" fee and now they want more to repair some of my credit issues. Has anyone out there had dealings with this co?

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4/20/2010 3:41 PM (PST)

According to the BBB report, this company "offers cultivation of business opportunities by matching entrepreneurs with investors and lenders". The backgrounds of the people involved in this business look impressive. What exactly was your enrollment fee for?

Here is the BBB Report on the company:

http://www.bbb.org/utah/business-reviews/financial-advisors/funding-universe-in-south-jordan-ut-22173663

Also, what are they saying they can do in regards to credit repair and how much are they asking for? According to the BBB report, they “provide services that make an entrepreneur Investor or Bank-ready" and it’s logical that credit repair would be one of those services. It's been especially tough the past few years because of the credit crisis and the reluctance of banks to lend. If you don't have personal credit and your credit history is less than optimal, then a regular bank loan is not feasible. There are laws that govern credit repair however, and these are described in some of articles that we’ve provided links for below.

The BBB report shows that 6 of their 19 complaints are about sales practices. Call the Utah BBB for more info on the complaints (their phone # is 801-892-6009 and toll free within Utah 800-456-3907). Keep in mind that a company's size, volume of business and number of transactions may have a bearing on the number of complaints received by the BBB.

Here’s some info on Advance Fee loans:
http://www.la.bbb.org/GIReport.aspx?DocumentID=100 GI Report on Advance Fee Loans

Here are some articles on credit repair and credit reports:

http://www.la.bbb.org/GIReport.aspx?DocumentID=79

http://www.la.bbb.org/GIReport.aspx?DocumentID=165

Good luck, let us know how it works out for you.

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5/10/2010 2:13 PM (PST)

I got a business cash advance loan through EXS Credit Card Processing who i left a good review on earlier this year on this site. They set me up with a free credit card terminal (upgrade from my old one) and got me a cash advance to help my restaurant expand. Their website is eee.EXSCreditCardProcessing.com

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5/13/2010 7:27 PM (PST)

Hear is an update on the company who provided me with the business cash advance loan. It is Cash Advance Exchange and their website is www.CashAdvanceExchange.com. They set my up with a new credit card terminal and merchant account with EXS Credit Card Processing. Hope this helps!

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