Initial Underwriting Group
reviews and complaints

About 3 years ago I had been looking in to small business loans. This company got my information and has not stopped calling me since. I have recieved more then 22 phone calls since. I have asked them 22 times to remove my name from thier list, yet I still keep getting calls. I have escilated to writing letters each time. One more and I will be filing a lawsuit on harassment. I think 23 calls is harassment. Don't contact these people or you will never get rid of them.

After having large lines of credit with banks, and now running a much smaller business, I was looking to build business credit. After some research and time invested exploring options, I discovered IUG and that they were the perfect source to help me obtain a few lines of credit.

I did fear, however, that some of these complaints were true about them that are listed on this site before I signed up-- poor service, revenue focused-- and indeed they are true. While this company attempts to look customer oriented by having calls quickly returned, they simply don't do anything they say. They are quick to charge your card and then nothing happens as they promise. Their attention to detail is excellent in your initial calls with "underwriters" and their service gets an "F" immediately after that when you wind up waiting for weeks for their monthly maintenance people to call you. How they think they can charge a monthly fee and then let 3 weeks go by without customer contact when they promise it in 24 hours from payment is beyond me...

The concept for this business is ideal but their ability to execute completely lacking. I give them an F for terrible service and their focus on collecting their fees being their highest concern right out of the gate. Fortunately none of their documentation I received says that my money is not refundable. It was only when I cancelled my service after three weeks of hearing nothing from them that I received a NOT REFUNDABLE notice in the mail. Thank goodness the original slip said nothing of the sort.

I do not think it is possible to build business credit with anyone on the web. I am convinced- as these guys looked the most reputable of everyone I have found to date-- that this all is mostly a scam. BUYER BEWARE. While using personal credit might not be as good, at least you are in control. Eventually banks will start lending again too... Bide your time and wait. I had no need for credit just simply wanted to not use personal credit-- so at least for me this is just a nuisance and not a necessity for the survival and growth of my business...

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:
Subject:
IUG Customers
Date:
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.

--
Sincerely,

Mr. Bodner
Small Business Owner
Initial Underwriting Group

*Breaking Down The Barriers To Small Business Financing*

www.initialunderwriting.org
www.strongbusinesscredit.com

614.231.3519
877.752.4300 FAX

For Real Business Owners, Real Success Stories =
www.initialunderwriting.org/testimonialrec.html

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:
From:
Leo - Initial Underwriting Group
[Add to Address Book]
To:
[protected]@aol.com, ahamilton.[protected]@hotmail.com, [protected]@cox.net, [protected]@yahoo.com, [protected]@yahoo.com, [protected]@gmail.com, [protected]@floordot.com, [protected]@clearwire.net, [protected]@aol.com, [protected]@roadrunner.com, [protected]@c18-ss-1-lb.cnet.com, [protected]@aol.com, [protected]@northerncapital.com, [protected]@aol.com, [protected]@gmail.com, 54print.[protected]@cox.net, [protected]@hotmail.com, [protected]@frontiernet.net, [protected]@optonline.net, [protected]@aol.com, [protected]@yahoo.com, [protected]@comcast.net, [protected]@slnaples.com, Clarence.[protected]@executiveconcierge.org, [protected]@bwgenterprises.com, [protected]@gmail.com, [protected]@yahoo.com, [protected]@yahoo.com, [protected]@yahoo.com, [protected]@gmail.com, [protected]@aol.com, b.[protected]@yahoo.com, [protected]@optonline.net, [protected]@msn.com, [protected]@lfcu.com, [protected]@fchomehealth.com, [protected]@gmail.com, [protected]@comcast.net, woods.[protected]@gmail.com, [protected]@yahoo.com, [protected]@hotmail.com, alexander.[protected]@gmail.com, [protected]@wowway.com, [protected]@embarqmail.com, [protected]@jandzmortgage.com, [protected]@aol.com, [protected]@jctenterprisesgrp.com, [protected]@myrealestatebuyers.com, [protected]@masoncrown.com, [protected]@hotmail.com, veshay.[protected]@gmail.com, [protected]@paulbunyan.net, [protected]@yahoo.com, [protected]@qroidaho.net, [protected]@yahoo.com, mrs.[protected]@yahoo.com, [protected]@ca.rr.com, [protected]@c18-ss-1-lb.cnet.com, [protected]@wb.midrivers.com, [protected]@cox.net, [protected]@yahoo.com, [protected]@cruzio.com, [protected]@comcast.net, [protected]@comcast.net, [protected]@localnet.com, [protected]@aol.com, [protected]@yahoo.com, [protected]@comcast.net, [protected]@bellsouth.net, [protected]@johnnyspond.com, [protected]@sbcglobal.net, [protected]@yahoo.com, [protected]@yahoo.com, brian.[protected]@comcast.net, [protected]@gmail.com, [protected]@liberty.edu, [protected]@sbcglobal.net, [protected]@acelogistics.net, [protected]@clearviewcatv.net, [protected]@aplussunrooms.net, [protected]@aol.com, [protected]@hotmail.com, [protected]@comcast.net, jason.[protected]@comcast.net, [protected]@barksan
Subject:
SCAM FW: Fwd: [SPAM] IUG Customers
Date:
Wednesday, December 03, 2008 11:50:39 AM
[View Source]
Hello:
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.

Leo
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 www.initialunderwriting.org for all the latest news and comments about our progress.

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

Sincerely,

Leo

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.

Leo

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]@clearviewcatv.net

Cornell Brown [protected]@aol.com

Edward Burns [protected]@videosuspects.com

Lori Christensen [protected]@thecosmicnudge.com

Lady Melody Clancy [protected]@cox.net

Chris Coles [protected]@cox.net
Gary & Angellia Conrad [protected]@gmail.com
Andrew Fornal [protected]@jamestowncomputer.com

Philip Fracassi [protected]@equatorbooks.com
Donnie Harvey [protected]@aol.com

Haymaker [protected]@frontiernet.net
Prentiss Hedrington [protected]@gmail.com

Alix Hogu [protected]@edisonchemical.com
Virgil M. Hollins [protected]@aol.com
Melanie Howard [protected]@hotmail.com
Niki Jackson, [protected]@comcast.net
Allen Jones [protected]@aol.com

Dixie Kauffman [protected]@gmail.com
David Knowtt [protected]@daklogisticservices.com

Chad Knox [protected]@aol.com
Ronald Letourneau [protected]@embarqmail.com

Sharon Liddle [protected]@aol.com
Mani Maran [protected]@gmail.com
Terri McNamara [protected]@barksandpaws.com
Seth Melendez Seth.[protected]@dyntek.com
Javier Mendoza [protected]@pc8plus.com
Nick [protected]@gmail.com
Eric Norman
John Petrovsky [protected]@johnspond.com

Alex Petrut [protected]@yahoo.com
Jon Pippert [protected]@comcast.net

Kathy Platt [protected]@medicalmassageplano.com
Amanda Robinson [protected]@mavopavo.com
Brian Robinson [protected]@gmail.com

Rose [protected]@habc-1.com

Kevin Rubin [protected]@atlasremodelingsolutions.com
Erich Sbraccia [protected]@comcast.net

Greg Sharp sharp.[protected]@cox.net
Tammy & Jason Shovelton [protected]@gmail.com
Jenni Southwell mail.[protected]@gmail.com
Gregery Stuck [protected]@aol.com

Chuck Trautman, CEO [protected]@glgttw.com
Karen Vail [protected]@tampabay.rr.com
Charles Walker [protected]@gmail.com
Doug Ward douglas.[protected]@gmail.com
Christopher Warden [protected]@gmail.com
Christopher windeler [protected]@gmail.com
Charles Winzer [protected]@cox.net
Diane Woodland [protected]@yahoo.com
James Zachman [protected]@myrealdata.net

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.

From:
Leo - Initial Underwriting Group
[Add to Address Book]
To:
[protected]@comcast.net
Subject:
RE: RE: Re: Re: Let me know...
Date:
Friday, December 19, 2008 5:10:00 AM
[View Source]
Jon,
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.).

Leo
614.207.3983

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]
2/20/2008 ($130.00) INITIAL UNDERWRITING G COLUMBUS
3/19/2008 ($130.00) INITIAL UNDERWRITING G COLUMBUS
4/20/2008 ($130.00) INITIAL UNDERWRITING G COLUMBUS
5/21/2008 ($130.00) INITIAL UNDERWRITING G COLUMBUS
6/25/2008 ($40.00) INITIAL UNDERWRITING G COLUMBUS OH
6/25/2008 ($90.00) INITIAL UNDERWRITING G COLUMBUS OH
7/20/2008 ($130.00) INITIAL UNDERWRITING G COLUMBUS OH
8/20/2008 ($115.00) INITIAL UNDERWRITING G COLUMBUS OH

I continue to get unwanted, recorded telephone calls, asking me to visit their website. When I called the number I was shocked that a real person answered. However, he began arguing with me, insisting that I MUST have requested some information. I asked again (this was my second call) to be removed from their automatic call list. I have also reported them twice to the Do Not Call Registry. Given what I just read in the other complaint, this sounds like an undesireable company to do business with.

Never in my life have I been so confused, mistreated and financially raped by a company. Even AOL's routine double and triple billing wasn't as bad as dealing with IUG. At first glance, this company was EXACTLY what I was looking for and like all things that appear too good to be true, it was.

I'm a native American small business owner located in Maine. I have small town family values and place the safety & happiness of my clients and employees at the top of my daily "To-Do-List". (Second is making a great product and delivering on the promise of great service, third is making money.)

Now, like I said, I thought IUG had exactly what I was looking for, they had a rep call me and wanted me to fill out a form on their website, while still on the phone. I thought I was just getting a pleasant change from the normal humdrum of daily business, now being on the phone and typing & reading all at the same time is hectic at best. They wanted some cash up front to get started after they called again to tell me I had qualified for a $32, 500 small business loan. I was so happy but couldn't come up with the $950 they wanted. So they said they've give me a break, send $400 and they would get the ball rolling. I have a really tight budget but I was able to free up the $400 and send it. Now they send me an email saying that my money was non-refundable and that I had to be incorporated to get the loan. "But you knew I was a sole proprietorship?" To which he replied we'll get you incorporated. Ok I thought, so how much is that? He told me it was about a hundred dollars or so. But I thought this was all included. He told me it is. So why do I pay more? He said I don't, I pay the State. So back to being incorporated, which I'm not and told them so on their OWN application. I spent the day trying to contact them via phone to clear up this situation.

They'd only had my money 10 minutes, what could be the problem? I was asked repeatedly "Are you joking?" by customer support. I tried elevated my complaints to their managers and sent emails to their sales and support email addresses. These were all dismissed by their management staff because I had hit a little checkbox that said I agreed to this BS while I was on the phone and online with their website AT their request.) Not one message for a call-back from a manager was returned. This is getting ridiculous at this point. I check out the SBA website and find some contact info for the company's owner. I tried explaining the situation but to no avail. Again with the checkbox. Then I was told that I had agreed and they had the phone conversation recorded. Ok, how can I get a copy of these recordings? So I mention that my lawyer could obtain copies through the court system. I was then told not to threaten them and they hung up on me. The owner never once would pick up my calls.

I've lost $400 but learned a valuable lesson about Initial Underwriting Group, STAY AWAY.