This is a review on Fundmerica, the Loan Scam.
Here are some reviews from their clients collected from BBB, Google and Yelp:
Google Reviews About Fundmerica:
“Be aware of the interest rate Fundmerica offers, they say and what they offer you! First time when they called they offered 4.5% interest rate. And after doing all the paper works with Funmerica… application, bank statement, drivers license, SSN/SIN, and bunch of emails, phone calls, wasting so much time- they gave me this offer-
Fundmerica is offering 10 thousand dollars interest on 40 thousand dollars loan. And you have to start paying from next week, so basically you are paying about 40% interest on the money you are taking. Which is double compared to any credit card even.
Even over phone yesterday they told me that my interest rate is 2.68% but after I received the offer I see it’s over 40%.
I think most of the reviews here are fake. So be aware!!
(I am scared now that I shared all my company information with them and what if they misuse my information)”- Kazi Mamun
“predatory lending! Just want to bury you in debt! Must be fake reviews! Why not spend your time doing something positive instead of wasting peoples time & scamming people”- Kirk Vandermark
“WARNING TO CANADIAN C0’s – Fundmerica ask for personal details such as SIN before approving confidentiality agreements. DO NOT PROCEED!!!”- LandPro Industries
“This place is a fraud and charges “usury” rates that may be against the law. Their initial advertisement is false to what they do. Appeared to be a simple loan with low interest rates. Fundmerica proposed $23,000 loan with repayment terms of 7.5 months, DAILY repayment of $203 per day and that you repay over $30,000. This would be a more that 30 percent interest rate and most of the money loaned would be used to repay. No one in their right mind would accept these terms and they should be illegal. Their advertising to suck you in us completely false and you will never see those terms. STAY AWAY FROM THIS COMPANY”-gregory holloway
Fundmerica yelp review:
“Company seems super sketchy. They called me unsolicited and left a vm saying that my business qualifies for up to $100K yada yada. I called back to get more info so that I could report them and they were very cagey. Tried to get some basics like company name, website, and background. 2 minutes in, the rep hung up on me lol. SCAM!”- Jimmy S.
Fundmerica BBB review:
“I made a loan through Fundmerica, everything went smoothly in the beginning.The agent closed the deal with the premise “we will refinance after 90 days”, this was far from the truth. Establishing business credit was the goal, that was a lie as well.To put it bluntly, We spent 7000.00 in interest and still have no reported business credit. Waste of time and money. Stay far away, you’ll get a better rate in a dark alley somewhere. Owner, A Cleaning Company”-