The complaint has been investigated and
resolved to the customer's satisfaction
Business CreditFalse Sales Practices

I was looking for a business loan on the internet to purchase an franchise. I already owned two, and was looking to expand my territory, buy out a neighboring owner of the same franchise system I am involved with.
I initially signed up with IUG 1/28/08. They advertise to help small business owners get a unsecured lines of business credit up to $35, 000. Mr. Bodner convinced me of paying the $695 startup fee. I was told for another $90/mo concierge service fee would speed up the process. I was looking to close the deal as soon as I could come up with the financing.
The IUG business model is to help their clients build business credit from Dunn and Bradstreet, and then they underwrite loans to lenders willing to lend to the business.
I was told later by IUG that I was approved for $32, 500 and that I would have no problems getting that funding within about 3 months
I was given a phone number that always sent me to an answering service and my calls were never returned. When I did get lucky enough to get through I talked with Jamie Cardinal or Anita Riggins and for the most part they were helpful.
Then without warning, packages started showing up at business. I was getting bills like $80 for a box of envelops. It seems they were randomly purchasing things on my accounts without asking me, over and over again. I asked them to let me know before anything was done, but they continued doing this. After about 6 or 7 months of their service I started to realize that what I was promised wasn’t going to happen.
After all the time and money I only had several credit card accounts with maybe $1000 in credit. total. Then I both called and emailed asking to cancel my services. I was billed another $90 monthly fee weeks after I asked to cancel my services. On top of that no concierge services were provided that month although I was charged for it.
I then called and talked with Leo to complain about the service. He basically called me stupid and hung up on me. Emails and phone calls were not returned.
In my rage, I through out all my IUG paperwork. This was back in August.
On December 12/03/08 I got the following email:
IUG Customers
Wednesday, December 03, 2008 11:30:53 AM
[View Source]
My name is Mr. Bodner and I am the owner of Initial Underwriting
Group. The purpose of my email today is to apologize to each and
every customer that I have ever done business with.

You may be asking yourself why I would be apologizing and the simple
fact is I have at one point been disrespectful or just downright nasty
as that is my nature. With the new year upon us I have decided to
turn over a new leaf. Considering I have been dishonest with each and
every customer I have ever done business with, I feel that I should
give you the choice to either contact your bank and get your money
back or continue to do business with a dishonest business man who is
trying to change. I am just disgusted with myself that I have been
such a deplorable human being and I only hope I can change.

I think it is only fair to also tell you that in closing the whole
process of building business credit is built on a lie. You will never
get any funding beyond the credit cards you have probably already
started to receive. I have no access to lending that is based solely
upon business credit. If I am ever able to get you a loan it will be
with a personal guarantee. Again I'm sorry for being dishonest but I
felt it was time to stop lying to everyone and be honest for a change.

If you decide to contact your bank you may use this email as my
approval for the transactions to be reversed.


Mr. Bodner
Small Business Owner
Initial Underwriting Group

*Breaking Down The Barriers To Small Business Financing*

877.752.4300 FAX

For Real Business Owners, Real Success Stories =

This was sent to maybe 500 former IUG customers (I don’t actually know how many because my e-mail has limit on the number addresses it can process, or something like that).
What this did was to allow these former customers to get in contact each other. Emails went back and forth amongst the “former” clients.
As we shard our stories, they were all very similar in the results that we received. There was 50 of us that eventually decided to from a group to bring action against IUG.
Then we received another e-mail:
Leo - Initial Underwriting Group <[protected]>
[Add to Address Book]
[protected], ahamilton.[protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], 54print.[protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], Clarence.[protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], b.[protected], [protected], [protected], [protected], [protected], [protected], [protected], woods.[protected], [protected], [protected], alexander.[protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], veshay.[protected], [protected], [protected], [protected], [protected], mrs.[protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], brian.[protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], jason.[protected], [protected]@barksan
SCAM FW: Fwd: [SPAM] IUG Customers
Wednesday, December 03, 2008 11:50:39 AM
[View Source]
Someone broke into our emailing software and sent out a fake email. Please ignore this if you happen to see the message. We are fixing the glitch, you should not be involved in these emails.
Your email and documentation is secure.

We are still in business, and plan on expanding the operation in 2009.

Head Underwriter

And another email:

Please ignore the previous email you got claiming that someone is our owner, closing down IUG. We are in business and everything perfectly fine here at Initial Underwriting Group.
Our tech were able to stop the hacker from getting to the sensitive information in our database. Your information is secure.
Initial Underwriting Group is in fully operation, and our plans are to expand into 3 office in 2009 have continued. Please visit for all the latest news and comments about our progress.

Feel free to email me back about each individual status on your account.



Here’s some more:
To Everyone that is getting this email.

This is my email address and somehow fake emails about Initial Underwriting Group started going around. I have contacted the system administrator and they have blocked the user. Please contact Initial Underwriting Group directly at [protected].

As one human being to another, please let's respect each others privacy and stop hitting the Reply ALL button. The financial circumstances varies for everyone, and right before the holidays I believe the right thing to do is to stop this non-sense.

IUG will be crediting back anyone that needs the accounts closed.


I sent out an email to whole group and ask those who interested in pursuing action IUG to email me back.

The following is the list of our group.

Cheryl Andrews [protected]

Cornell Brown [protected]

Edward Burns [protected]

Lori Christensen [protected]

Lady Melody Clancy [protected]

Chris Coles [protected]
Gary & Angellia Conrad [protected]
Andrew Fornal [protected]

Philip Fracassi [protected]
Donnie Harvey [protected]

Haymaker [protected]
Prentiss Hedrington [protected]

Alix Hogu [protected]
Virgil M. Hollins [protected]
Melanie Howard [protected]
Niki Jackson, [protected]
Allen Jones [protected]

Dixie Kauffman [protected]
David Knowtt [protected]

Chad Knox [protected]
Ronald Letourneau [protected]

Sharon Liddle [protected]
Mani Maran [protected]
Terri McNamara [protected]
Seth Melendez Seth.[protected]
Javier Mendoza [protected]
Nick [protected]
Eric Norman
John Petrovsky [protected]

Alex Petrut [protected]
Jon Pippert [protected]

Kathy Platt [protected]
Amanda Robinson [protected]
Brian Robinson [protected]

Rose [protected]

Kevin Rubin [protected]
Erich Sbraccia [protected]

Greg Sharp sharp.[protected]
Tammy & Jason Shovelton [protected]
Jenni Southwell mail.[protected]
Gregery Stuck [protected]

Chuck Trautman, CEO [protected]
Karen Vail [protected]
Charles Walker [protected]
Doug Ward douglas.[protected]
Christopher Warden [protected]
Christopher windeler [protected]
Charles Winzer [protected]
Diane Woodland [protected]
James Zachman [protected]

Here’s another email that “Leo” at IUG sent. “Leo” is resorting to threats and intimidation to try and get me to go away. I’m sure if he is doing it to me; he’s also trying it on others, who may not be as strong as me to fight him. He mentions that I was that I was approved by IUG (which is not the case, I never received a loan, just a few credit cards they opened and used in my behalf).

If IUG had found discrepancies on my application and info, they should have brought that up before, and I shouldn’t have been “approved”. It’s all a bunch of lies away.

Leo - Initial Underwriting Group <[protected]>
[Add to Address Book]
RE: RE: Re: Re: Let me know...
Friday, December 19, 2008 5:10:00 AM
[View Source]
Your BOX access is still open. All documents are there for your review. (Word of advice - be careful about opening up the wrong can of worms. Your application is completely different than the tax returns. That is a serious matter because the approval at IUG was based on honest answers on the app. If handed to the wrong authorities, could be incriminating. I will keep my mouth shut and have no reason to cause anyone any harm.).


I don't know if these guys are scammers or are just poor businessmen. Some from the outside needs to look at them. At worst they’re scammers, at best they’re poor businessmen that use intimidation, deceptive advertising, hiding behind the internet to take money on services not preformed.

I want them investigated for fraud, misrepresentation, misleading advertising, and not performing services promised.

I want a full refund of charges to my account.

PS: Here’s what they charged me
1/28/2008 ($695.00) INITIAL UNDERWRITING G COLUMBUS [protected] [protected]


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