Private Collateral Lenders CorporationScam company

C
This review was posted by
a verified customer
Verified customer

I wanted to use Private Collateral Lenders Corporation but thanks god I decided to check this company on the internet before. Well, I found many complaints about them and even BBB wrote that it was a scam.

Responses

  • Co
    Corridor Pacific Corp™ Apr 27, 2015

    Private Collateral Lenders Corporation is NOT a bank nor a lender, nor was there ANY agency agreement that would have provided an approval process by a non-related third party entity, wherein PCLC might (perhaps) secure a loan, after which (in turn) they might then have funds to advance under a JV agreement. (No one would sign an agreement like this.)

    Kathleen Osborne conveys a lack of business sense and corporate accountability that is embarrassing — it cost her legally, professionally, an in all ways their status in the business community.

    Osborne does NOT retain any qualifications as a financial consultant or expert.
    Osborne is NOT a registered nor licensed fund manager.
    Private Collateral Lenders is NOT a registered brokerage agency.
    Private Collateral Lenders is NOT registered as a charity.
    By their own admission Private Collateral Lenders, has NO money, NO assets, NO collateral.

    Their website is down and their BBB reference is attached below.

    Comments

    0 Votes
  • Pr
    Private Collateral Lenders Corp. Jan 18, 2013
    This comment was posted by
    a verified customer
    Verified customer

    THE STATEMENTS MADE ON THIS COMPLAINTS BOARD BY MILTON KIEHLBAUCH (CORRIDOR PACIFIC) are ABSOLUTELY UNTRUE AND, IN THE OPINION OF PRIVATE COLLATERAL LENDERS CORP. CONSTITUTE LIBEL.

    Private Collateral Lenders Corp. is a licensed commercial lending corporation as well as an Accredited Member of Better Business Bureau and has an A Rating with BBB. Our corporation is also represented by an Alberta-licensed mortgage professional of many years standing as well as prominent law firm in the City of Edmonton.

    A former client, Milton Kiehlbauch (Corridor Pacific) of Calgary, Alberta, Canada had been accepted by Private Collateral Lenders Corp. as a Joint Venture partner in transaction in 2011. At all times, Private Collateral Lenders Corp. (through it's registered Class "B" Shareholder Lenders was in a legitimate position to have the project funded. The Shareholder Lenders of Private Collateral Lenders Corp. are licensed and are A+ Rated with Better Business Bureau. The money is real and available BUT the deal also has to be real.

    Unfortunately, Mr. Kiehlbauch was UNTRUTHFUL in the main presentations to the Deerfoot Professional Centre project. The main LIE is that, ultimately, Mr. Kiehlbauch stated that he had placed $3, 200, 000 of his OWN money in the project. This was a TOTAL LIE. Because of his mis-representations, the Joint Venture Project could not proceed. When asked to provide PROOF that he had invested funds into the project, Mr. Kiehlbauch stated that:

    a) his receipts had been destroyed in an apartment fire.
    b) the bank hadn't kept records of the transactions. (which is untrue, since Canadian banks are required to keep records for SEVEN years.

    Under the terms of the Joint Venture Agreement jointly created by Mr. Kiehlbauch's lawyer and Private Collateral Lenders Corp. lawyer, it was clearly stated that:

    a) If there were a dispute between the parties that it would be resolved through arbitration. Better Business Bureau is in a position to mediate between the parties, but Mr. Kiehlbauch has consistently REFUSED to mediate or arbitrate.

    b) If Mr. Kiehlbauch (Corridor Pacific) was shown to misrepresent the basic facts presented by him in the Joint Venture, then there would be NO REFUND of any Underwriting Fees paid by him or his company.

    Rather than let the matter be resolved by mediation or by the courts, Mr. Kiehlbauch has seen fit to use LIES and HALF-TRUTHS in an attempt to discredit Private Collateral Lenders Corp., thus his recent UNTRUE and LIBELLOUS statements made on www.complaintsboard.com

    Private Collateral Lenders Corp. is legitimate and is in a legal position (through it's registered Class "B" Shareholder Lenders) to fund up to $500 Million Dollars per commercial transaction IF the deal is REAL.

    Board of Directors
    Private Collateral Lenders Corp.

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