At the end of August 2009. I went to UnsecuredLine.com to help me get funding. I told them my current issue of why I was rejected by other companies. Immediately I was told that their company could help me with it. I went along with it and was told I would have to pay a fee of $99 to start it off. Then once I got funded I would be charged $2500.
Shortly afterwards I was emailed a risk profile report. It had a list of things for me to do to work towards credit issues and to pay off %35 of my debts to get approved. I told them if I had that kind of money I wouldn’t have needed to go to them. I was assigned a coach to work with me and all she did was argue with me. I was assigned another coach afterwards because I complained the first one was difficult to work with. Shortly afterwards they said the first one was no longer there. Well the second one also argued with me and never returned my calls. I had to call others at the company to try to get him to call me. So I was getting nowhere just like the first one.
Once I started looking over my credit card bills I noticed there were more charges being deducted from my account unauthorized by another company name that was also there company. I found that out once I researched it. My first charge came from RBSL for $99 then within a months time there was $500 charges 5 times that I didn’t authorize by Funding Universe. I also kept getting calls by an affiliate of there’s to work with for an additional $4000. At the end I was told if I got funded I would also be charged an additional %3. Even though I wasn’t told that in the beginning. After 6 months of hell and working with them I still was not qualified for a loan and very unsatisfied. I had to cancel my credit card. To make sure they don’t do any more charges on it. They were never upfront about their program and are money hungry.
Anyone interested in obtaining financing should STAY COMPLETELY CLEAR OF FUNDING UNIVERSE. This company prays and misuses people who are trying to get money to finance their business. This company will initially offer you the world, promising and verbally guaranteeing the loan will be approved. But if you look at the fine print, they are charging you for creating a business plan and that's it. You can buy a software in the market and create your own business plan for less than $100.00 Then the company will promise you they will present you to the lenders. Honestly, these lenders they have are big banks, Wells Fargo, Bank Of America, Chase, Citibank. Non of these lenders are interested in lending money to small and up and coming businesses. The company representatives will cox and work around to make it sound that you are just a step away from getting the loan needed to expand your business. The truth to be told, they do not do such things and in-fact most of the time you will not get approved at all. The company wants you to apply at all the banks they have recommended. Here is the catch, every time you apply, your personal credit score drops. Once you have applied several times, non of the other banks want to look at you or do business because it looks like you are a very high risk customer. With the financial crisis, the banks are very reluctant to give out funds. If they see more than 3 inquiries on the credit report in a short period of time, the banks freak out thinking you are a high risk client, and currently the banks do not want high risk clients. My personal credit score went from 740 down to 685 because of the inquiries. The company promises they work with a group of lawyers who can have your personal credit cleaned up and have the inquiries removed. According to the Fair Credit Act, you can only dispute inaccurate information, not the information that is legally submitted which is found to be accurate. This means, no matter how hard you try, the only way to have an inquiry removed from your credit report is through filing a fraud report with the authorities and the credit bureaus as a fraud victim. The only thing you can really dispute is to the accuracy of the report and anyone out there can do it on their own. THIS COMPANY IS A FRAUD AND PRAYS ON PEOPLE WEAKNESS. WITH THE CURRENT FINANCIAL MARKET CONDITION, IT IS VERY EASY TO BELIEVE THAT THERE IS SOMEONE WILLING TO ALLOW YOU TO BORROW. THE TRUTH IS, THERE IS NO MAGIC, YOU ARE BETTER OFF WORKING WITH A LOCAL BANK OR A CREDIT UNION TO OBTAIN FINANCING. IF THEY CANNOT DO IT, THEN THERE AREN'T MANY PEOPLE OUT THERE WHO CAN DO IT. UNLESS YOU WANT TO LOOSE MONEY TO COMPANIES LIKE FUNDING UNIVERSE. PLEASE STAY AWAY FROM FUNDING UNIVERSE AND COMPANIES LIKE THIS AS I HAVE LEARNED IT THE HARD WAY BY LOOSING MONEY.
i am really great to choose this company great cust service n great service...
everything going well so far
this is good company
My experience with this company ended up costing me a lower credit score and high debt on my credit cards due to their charges for services and no follow-through. They just took my money and never returned phone calls, emails, and even cancelled my website that I paid for through them. I have filed a crime report with the S. Jordan P.D. and in response to another gentleman on complaintes board .com i will be filing with the attorney general of Utah. I am actually wondering if some of the peoiple that have complained about this company would like to possibly enter into a class action lawsuit. the process is starting now. Please email me and let me know if you are interested..
There is no getting any done through this company. They charge you high upfront fees and provide sweet talks and claim to help you obtain business loans. But all they do is put a bunch of paperwork in front of you and use up all the time to process these documents, while taking your money. They will then claim that they need to help you clean up your credit, and look for fees to do that for you. And if you already have a good credit, they will claim that your business plan needs work and propose a fee to help you do that. While you are wasting time doing all these with their fraudulent staff, your upfront is been used up. Once your $3000 get depleted, they will then turn around and accuse you of not folowing their guideliness and claim that that is why you did not get the loan. Don't believe their stories that they have a high success rate. The higfh success rate they have is in duping you. Please read the confession of one of their staff that quit because of their fraudulent practices and RUN as fast as you can away from these theives.
With these many people reporting bad experiences with this company, I suggest that each one of you contact the BBB and file your grievances. We should also get together and begin a protset with the Attorney General of Utah. ...and seek an action lawsuit. Just writing stuff up here may protect a few people, but what will really protect the masses is that we start some sort of action protest and totally unearth the fraud that this company is. You can e-mail me at [protected]@aol.com to join the several many poeple that want some better actions taken.
The FundingUniverse.com scam may work like this...
Host a few social events with free food at hotel conference rooms. Hungry startups are invited to pitch their ideas to other startups in four minutes while Funding Universe scam artists pat you on the back and kiss your ###. Good practice, but not the reason they want you there.
Take some pictures and videos for the website, and then hire an army of SEO experts to remove your negative Wikipedia page, buy domains to confuse people like "fundinguniversefraud.com" and "fundinuniversescam.com, " and then boast yourselves as the "world leader ...in matching qualified entrepreneurs with lenders, investors and other funding sources."
They promise the following to businesses looking for business loans: business credit repair (WTF!?) from some tiny law firm in Utah (SBFC Law Group, PLLC), a "financial plan" (what
for?), and then a half-assed "business plan" that you basically fill out yourself. All this to do what you could do for yourself, for free: get a small business loan.
And they want you to RUSH all this in a matter of days so you can get a verbally promised loan or unsecured line of credit of $50K+ within 2 weeks, "promise." Sounds great! But too good to be true. All that for $2, 700.00, of course. But you don't realize that until after they've tried to charge your credit card due to the fact that you're being rushed through this confusing, online process of digitally signing things that are not clear to anyone under pressure.
They don't tell you the cost up-front until you've "electronically signed" a long agreement you should have a lawyer look at first. But first, it's $99 to get the "Underwriters" started with your account. That just gets your credit card on file. And these guys are just high-pressure salespeople who are just a little too responsive, but not too pushy at first.
Yes, I fell for the $99 portion because they seemed professional (at first), and they really were great at leading me on. They almost authorized my credit card $2, 700, and then tried again for $700. Why would a legitimate business try that? All because they got my low-limit business credit card on file with the first $99. Sneaky, but thanks to CapitalOne fraud prevention, I'm OK.
At first, the idea of an organization helping a new business find funding sounds great! But not for thousands of dollars. Perhaps they find investors/funders for a few people, just to maintain some legitimacy. Or not, there's no proof but fake testimonials. But 99.99% of the others are just getting scammed. Simple enough. If not, PROVE IT, Funding Universe. Simple.
The high-pressure salespeople give the whole scam away if you have time to breath a minute. Not only that, but they've been calling my business non-stop, trying to make me feel bad about saying NO. Definite harassment.
Their "COO" (Richard Ferguson) emailed me to beg forgiveness: "Having said this [that 'This is an honest mistake and not an attempt to take advantage of you.'], if you are not interested in moving forward, there is no problem, we can simply cancel the contract and refund the $99. We provide a 72 cancellation policy anyways."
The $99 charge back NEVER CAME, and I had to dispute CapitalOne. That worked fine. And apologies aren't enough to allow an organization like this to continue scamming good businesspeople.
This company is completely a scam, you can get funding without them. They do not provide guidance, return phone calls, or emails and also give wrong info. Do not waste your time or money. They are also now on BBB, we should all share our experiences there so no other business owner has to go through this
This company is a scam. Let me tell you how these people work. I was looking to secure a loan for my small business in March 2010. I found this web site (www.fundinguniverse.com).
No more than 3hrs after filing out the website questions a agent from funding universe calls me and puts me in contact with a gentlemen names (Joe Hughes). Joe pretty much gives me a sugar coated turd of a story about securing a loan in few months and promising funding for my business. I was sold on the 99 dollar credit enhancement package.
So after forking out $99, he puts me in touch with another agent (Jordan Keith) that works with SBFC. A credit enhancement package specialist (Underwriter). Jordan promises the world to you at the cost of $500 for SBFC to start the process of credit repair and $250 a month to continue the pursuit of this scam.
I was instructed by SBFC to set up a account with TrueCredit.com to monitor my credit. SBFC wants you to fax all credit response letters back to them, and give them your user name and password to this site so they can log in and monitor you credit. They also send you all the credit dispute forms through the mail to you so you can mail them yourself. For 250 bucks a month, I figure a law firm could at least handle this themselves. And the big kicker is, my credit score only improved 30 point. I could of sent off these letters and filed the disputes. One major outstanding blemish on my credit they still won’t do anything about. I talked to Legal assistant Amanda, and she still hasn’t done anything about this. All these people want is to waste you money.
I have called Jordan Keith multiple times expressing my discontent over this polished turd of a deal. And all I get is apologies and the saying “We are working on it, it takes time”. I asked Jordan if he ever worked for RBSL (another loan company that is in lawsuit) and replied he didn’t. Although the one loan he did try to get for me listed RBSL at the top as the reference. These people are liars and Scammers. He sent me in another direction to a company that was supposed to supply a loan around 50k. Come to find out they can only supply me 5k with outrages payment. As I stated to him If I had that money for those payments I would never needed the Loan. And The mystical Jordan Keith that never worked for RSBL has sent a letter in the past to a poster in this forum that is signed with Jordans name and RBSL company tag. Liars and scammers. These are the people that cause economy’s to collapse because there greedy ### ways.
In the beginning I figured funding Universe and SBFC were going to fulfilled their promises to have a loan in few months so I acquired the property and set up store front with my own capital (mistake number 1 – trusting these people). Now months later and financial strain. I have no choose but to close my store front and business due to these people. I will be seeking legal action on this matter.
So today’s lesson kiddy’s is, don’t fall for fundinguniverse.com or SBFC promises they might of changed their names from the crooked past but they are still crooks.
I was not that Smart to Google this company before i got Ripped off for $2800 Dollars from these scammers at Funding universe. They Charge me a $99 dollars to pull the credit report and then Jim Rampton The so called Senior Under writer Called me and said you have an excellent Credit and we can Achieve you $500k Funding for your buisness expansion easy all you have to do buy the Lender Prep Report, So it is easy to establish a Line of credit when banks see you are professionally orgnaized. So i made the Mistake and paid $2700 more. Then i was assigned with Daphne ramero to help me achieve my goal.And it was a waste of time because she would not return the Phone calls, emails and then Finally they emailed me to go to local banks and apply for the Loan. Here is the best part IF I GET ANY LOAN FROM ANY BANK WITH MY OWN EFFORT THEN I AM ALSO SUPPOSE TO REPORT TO THEM AND THEN PAY THEM 3% FEE ON TOP OF IT. So i was Stupid enough to pay these idiots A $2800 to get the local banks names, Where i go everyday to make the deposits. Don't make the mistake the one i made.
Funding Universe is a waste of my time. As General Counsel for this new venture, I should have known better...