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Bankers Healthcare Group / Upfront loan fee scam

1 FL, United States Review updated:
Contact information:

Beware of BHG! We looked into getting a loan from them. Not only do they charge a prepayment penalty, but they calculate their loan using SIMPLE INTEREST!!! WHO DOES THAT??? In other words, if you take out a 10 year loan for $100K, you will be paying interest on $100K for the ENTIRE LOAN!!! Unlike a normal loan, where the interest payment is compounded or recalculated monthly, quarterly or annually and adjusted downward as you pay off your loan, you are paying whatever their interest rate is for the ENTIRE LIFE OF THE LOAN!!! They quote you an 11.4% rate, but using compound interest, you are really paying over 20%! Plus, they add prepayment penalties so you can't even pay it back early!


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  • Nd
      29th of Jul, 2014
    +5 Votes

    I did apply for this loan. And after over a month of haggling over percentages & prepayment penalties, we came to a mutual agreement. I signed the document, faxed it over and then I received a call that I just needed to initial one last thing... I opened the email and it turned out to be a contract with promissory note claiming my personal residence as collateral. WHAT A TOTAL SCAM. Has anybody else had this experience?

  • Pa
      1st of Aug, 2014
    +2 Votes

    I was just solicited by BHG and I am called and emailed daily from the rep. I have ignored this but I am currently considering borrowing for improved cash flow. I am very hesitant in dealing with them based on this and other threads. That said there is a lot of positive press as well. So I am on the fence. When I ask about ball park APR they do not answer me and say its dependent on my worthiness. When I ask what is the lowest APR they have ever offered I get the same response. This make me skittish.

  • Su
      15th of Sep, 2014
    +5 Votes

    This company should be out of business with their predatory lending practices. They are operating a criminal enterprise. Where are the authorities to look into this loan sharking criminal organization? This company is fraudulent and full of all scams. Whatever good reviews that are posted, I can guarantee you that the employees wrote those. I will be making a formal complaint to the State Attorney's office. This company has been deceiving people for too long & it's time they go out of whatever shady business practices that they've always had.

  • Fu
      23rd of Sep, 2017
    0 Votes

    @Surgeongirl they sent me a tax form that looked illegal to sign when I applied for this loan and got approval. It looked so shady that I did not sign and I ignore them but they keep bugging me--it looked illegal to me

  • Ma
      8th of Oct, 2014
    -1 Votes

    They quoted me a loan at a 27% annualized interest rate and the loan doc was one of the longest i have ever seen. This is not a situation you want to get yourself into.

  • Cd
      27th of Oct, 2014
    +3 Votes

    SEND ME MY CHECK ! I met them at a trade show. I merely was Trying to get an interest quote for a 15 and 30 yr conventional mortgage for a new clinic building. I have an excellent credit rating, I owe no one. Went through an extensive loan application process, Tax returns personal and business, Profit and loss statements. They came back with a maximum amount 150, 000 at 17%. These are not bankers they are a predatory credit card company. I have credit cards with 9%. SCAM. I Wasted a lot of time on this. O Yeah, at the beginning they promised to be the lowest interest, Said they hadn't been beaten yet. They even said that If they were not the lowest they would write me a check for a thousand dollars, Right. send me my check.

  • Ma
      13th of Apr, 2015
    +2 Votes

    I have filed a complaint with North Carolina Attorney Generals office regarding this company. They are running a scam on healthcare workers, the principles appear to have been involved with other companies that were investigated by the FBI and closed. Please file complaints with your states attorney general its easy and online to help shut this and other scammers like this down.

  • Kd
      14th of Aug, 2015
    -1 Votes

    Received a card in the mail. I visited the website, gave them my email and let them know I would like to consider consolidating my student debt if they had better terms and asked what the terms would be. After reading through some of these posts, I'm shredding the document and will not be using their service.

    Here's exactly what the card in the mail stated, besides any personal information:

    1971 Western Ave
    PMB 1204
    Albany, NY 12203

    Instant Availability: $150, 000
    Maximum Credit: $175, 000
    Status Expiration: 09/09/15

    24-Hour Approval, 3-Day Funding
    Amounts from $20, 000 to $175, 000
    Extended terms up to 10 years
    No hard collateral required
    Preferred rate

    Congratulations Dr. XXX!

    I want to be the first to inform you of your upgrade to Platinum status, which makes you eligible to receive up to $150, 000 instantly.

    You have been selected because of your clean, active record as a licensed optometrist in Colorado. This is not an offer that I make to every optometrist, but I can only reserve your funds until 9/9/2015

    I have authorized the following benefits for your Platinum account:
    -Funds in 3 days
    -Extended terms up to 10 years
    Won't appear on personal credit
    -No out-of-pocket costs
    -No hard collateral required
    -Use funds as you see fit

    You will not find an offer like this from any other lender. If you have been thinking about consolidating debt or are simply in need of cash, you need to take advantage of this offer today.

    Dr. XXX, I know how busy you are. That is why I'm committed to getting you funded without any hassles, waiting or red tape. Get your terms in just 24 hours with zero cost or obligation. However, you have to act today to take advantage of this one-time offer.

    Your colleagues are taking advantage of this offer in record numbers. You can explore your options with no commitment. Can you afford to let this opportunity pass you by?

    2 easy ways to activate your reserved working capital today:
    1 - Call 866.390.1756 or
    2 - Visit your secure personal site at
    (Preferred PIN: ########)

    Bob Castro
    President & Founder, BHG

    Association Partners:
    NCPA Corporate Member
    Academy of General Dentistry
    National Dental Association

  • Si
      31st of Aug, 2015
    +1 Votes

    Thanks for all the updated info. If it looks to good to be true it probably is to good to be true! This is one of them!!!

  • Fo
      9th of Sep, 2015
    0 Votes

    BHG treats their employees like dogs. After talking to people who have worked at BHG I have to agree with the comments above. The word on the street is BHG is infested with members of organized crime.

  • Ow
      25th of Sep, 2015
    +3 Votes

    I applied for financial assistance with BHG for $25000 for start up costs. BHG used my company Tax ID to secure $40000 through Citizens Bank in Tennessee with my knowledge. I found out about when they sent 2 separate receipts regarding payment. I've called BHG and been rested assured that the documents were sent in error on 4 separate instances. I've call Citizens Bank and have spoke with several members of my team, but can't get any answers to how that amount was secured without my signature. I have to call from numbers outside of my personal cell or they won't answer calls. Once, I get a contact on the line, I'm told someone will call back but never will. The same day the funds were placed in account, that same account was hacked and purchases made in Mexico. No one else had that account number except for BHG. They are a bunch of professional crooks who need to be prosecuted to the fullest extent and put out of business.

  • Am
      10th of Oct, 2015
    0 Votes

    Wow...I justed responded online but i'm not going to deal with them now. This business sounds scary. Worst thing I gave them my ss#. I have fraud protection so I will just be on the lookout for any wierd activity. Thanks for the posts

  • Ev
      5th of Apr, 2016
    Best Best Advice +7 Votes

    I have a loan with them. I borrowed $100, 000 and after 4 years of on-time payments of $2350/month, I still owe $75, 000 in principal and still have another 3 years of payments left to make. There is a lockout so you cannot refinance for three years. I will probably be paying $150, 000 in interest on a $100, 000 loan. I would not recommend this to anyone. Go to a real bank and apply for a loan.

  • Ja
      12th of Jul, 2018
    0 Votes

    @Evansman oh man, you look like get a loan with interest rate @ 23% for $100K. That is a credit card interest rate. Nobody wants to have a loan at this rate.

  • Ah
      28th of Apr, 2016
    +6 Votes

    Over $4000 in upfront fees, 17.99 % interest, stipulations on how money is used: complete bait and switch - they tell you no fees but they just relabeled as something else ...who would use this type of loan service. They are a predatory lender going after healthcare providers finding you through the internet and your NPI/license numbers that are public documents, sending solicitation to your clinic office. I have very good credit history- 792 score- just wanted to consolidate some loans and high interest credit cards.

  • Ja
      15th of Jul, 2016
    +2 Votes

    I'm late in my career, and employed, and got a loan offer from this outfit in the mail this week. I called their 1-866 # and told the rep (got a real human quickly) to remove my name from their mailing list and delete the special little PIN they gave me. They set up your own personal little site at www. That bothered me, and the fact that the loan will not show up on your credit report. So if Joe Blow steals my identity and gets himself a loan, equifax will not alert me because they won't know it's happened as it won't be on my credit report? maybe I'm over-reacting, but this doesn't sound right to me.

  • Ke
      18th of Aug, 2018
    0 Votes

    @jane eyre You are so right. I got the notice and stupidly went to the website and put all my info in. It was late and I was thinking I would just get the interest rate. Now I’m really worried. Has anyone alerted the attorney general or FBI?

  • My
      26th of Mar, 2017
    -1 Votes

    I got involved with these clowns during the recession following a divorce and a short sale on my home. My credit was in ruins and NO ONE would agree to lend money to me, not even other "third tier lenders" similar in business model to BHG. So despite my misgivings, i signed with them. They told me my interest rate would be 'about' 26%. Not having other options, i settled for it. When I tried to figure out the exact rate, i could not make it add up. I turned it over to my accountant who said the contract was an "exercise in obfuscation". As near as he could figure, I was paying 42% interest. I borrowed $45, 000 and payed back roughly $65, 000 over the course of 13-14 months. My checking around into the background of this company and its principals have lead me to believe that it is a mob money laundering scheme. My advice is to stay as far away from these guys as you can get.

  • Dr
      17th of May, 2017
    0 Votes

    Thank you to all of you guys for finding time and expressing your experience. It is so helpful. I called the add they mailed me and then the phone is disconnected. I guess they are done with troubling honestly working healthcare workers for scam loans. Thanks again

  • Do
      15th of Jun, 2017
    0 Votes

    Bankers health garbage. Predatory lenders. Beware of this company. Spread the word.

  • Ma
      8th of Jul, 2017
    +1 Votes

    THANK YOU SO MUCH FOR THIS POST. I started the process of getting this loan but could not get any answers as to what the % rate would be they just keep telling me to submit the papers and then they will tell me however; I want to know what I am getting into before I submit anything. I have a weird feeling about this because they are being so secretive about all the financial properties of this loan. If this was a legit offer they would be up front with everything and as the borrower, you would know exactly what you are signing before you sign it. again thank you for all of the previous comments and post.

  • Jo
      19th of Jul, 2017
    +1 Votes

    Agree that this is a predatory lender. I got their bait letter and merely went to their website to check for authenticity, without filling our any details. Next day I get a guy calling me, texting me, and emailing me to see when I'm going to submit an application. I had never seen anyone more hungry and more aggressive. Well, that raised a huge red flag and eventually got me to find what they really are about thanks for the many good comments on this site.

  • Cr
      25th of Jul, 2017
    0 Votes

    I literally just got off the telephone with the Representative who contacted me via cell phone from a Washington D.C. Telephone Number after, I went to their website listed in the offer letter. While I don't recall giving them my cellphone number; surely did not give out any Personal information. In any event, the Representative sent me text message, which I find annoying and unprofessional as, no LEGITIMATE FINANCIAL institution communicates with potential customers via text. Long story short, I put her off for about two weeks due to time zone issue *She said that, the Company was in Florida the Washington D.C number was just one "That they used" However, I live in the West and the Representative set-up an appointment at my convenience. She told me much of what I've heard in previous post however, the most suspicious component was the. Pitch that it won't be reported on m, y Credit!? That was stinky. At that point I began to ask about the Company and the information gained was a bit too scant to be Lending Money. I vaguely remember being asked if I wanted to complete the application when I opted to sleep on it until I received some additional information which is supposed to be emailed to me. As such, I thought that I should do a web search...Thank You all for Your comments! I wont be calling them back.

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