On March 1st I received a sales call from United Working Capital offering me funding. Asking me for bank statements which I furnished. After looking at the statements they guaranteed me funding. (I have emails to back this up.) Then it turned into a collateral loan, a week later I was secured a loan WBL for the amount of 25,000 like a daily cash advance.
I was hesitant and did not want the loan but Michael insisted (by the way Michael never would give me his full name and called from blocked number) saying it would open the door for a 500,000 dollar loan. The next day after they funded me 25,000 dollars, that after fees was 23000. That I had already payed 2,700 to start with. Michael said i got you the loan I just need you to put down 37,000 dollars to secure the loan.
I wired him 25000, because he agreed to lower it to that amount. I am a business man I should have known better, I’m only writing this so no one else will go through the five weeks of empty promises for nothing. Ill probably never get the 25,000 dollars back I have all documentation to back this up feel free to contact me (501)680-6048, so you don’t make the same mistakes I did. This is a 100% scam. I have turn it over to my attorney which is in contact with the attorney general.
NEVER USE THIS COMPANY, I DID A SMALL BUSINESS LOAN AND USED MY HOUSE TO SUCURE THE LOAN, I WAS TOLD THE INTERESTRATE WOULD BY 18% TO 21%, AND THE LOAN WOULD CONVERT TO A LINE OF AFTER A SHORT TIME. WELL THAT WAS A LIE, LATER I FOUND OUT THAT I WAS PAYING 91% INTERESTS, THIS IS HIDDEN IN THE CONTRACT NOW THE COMPANY IS FORECLOSE ON MY HOME AND I HAVE TO FILE CAPTURE 13BK TO PROTECT MY HOME. THE USURY LAW DOES NOT APPLY CAUSE THE PAPER WORK STATE'S Wisconsin which is a state that does not acknowledge usury laws. DON'T LET MY F**K UP HAPPEN TO YOU. PLEASE PLEASE DON'T BORROW FROM THIS COMPANY. IF YOUR LOCAL BANK WON'T LEND THE MONEY THEN YOU CAN'T HAVE IT.
I will Repeat and Say DO NOT USE this Company!! This Company told me a lie from the begining of our loan and told me that I was wrong.
The Company told me that I would take a loan out for 40k and that I could pay it off without any early payoff penalty at all. I used my Property as collateral and I used the next few months finding a bank that wouold refinance it for me in which I did. I will also like to say that the guy told me that my monthly amount due every month would be $850.00 but instead it was $140.00 daily which means every day they took this money out of my account. After 3 months my bank said they would finance the loan for 60K so I went to them and said that I will be paying the loan off and the guy told me that you still owe us 35k for the 3 months which is about 865% interest in which I was never told that I would have to pay that high of an interest!!! I received a loan for 40k and paid them 60k in 3 months so I thought that we were done but NO!! They have been calling me from a Collection agency stating I owe $102,000 now because of Interest and late fees from the 35K I owed!! This place should be shut down ASAP!!!!!!
This place is made to take small businesses and ruin them and close them down after I told them before I did the loan with my Bank that they could take my Property if it was going to make my Business become ruined!! I am complaining because no one told me that I would be charged daily fees and that my interest rate would be 865%!!!!
I have reached out to an lawyer and I will be proceeding with proving myself right and that I DO NOT OWE THEM ANY ADDITIONAL MONEY SO IF YOU ARE READING THIS PLEASE PLEASE STAY AWAY FROM THIS COMPANY!!!
World Business Lenders, LLC, World Business Lenders, WBL, wbl.com, will waste your time with their lies. They have no interest in helping small businesses. It appears they are in the business of putting small businesses out of business. Their sales people lie to get you to submit an application because they probably get a spiff for each one. Or, they are just throwing as much against the wall as possible to see what sticks. If they really cared for small business owners they would know we don’t have time to waste being exercised because we work long, hard hours.
My 12 years 10 months old business took a huge hit while I was recovering from cancer, so I ran a Craigslist ad seeking a local private lender to help me get back on track with a short term loan up to $15,000. On Monday November 28, 2016 a sales rep with World Business Lenders named Jorge Morel responded to my Craigslist posting.
We spoke for about 20 minutes. During that initial call I shared my circumstances, revenue, deposits the last 90 days, bank statements, open invoices, credit score before and after getting sick, and more. He told me World Business Lenders is a direct lender and “WILL BE EXTENDING A LOAN OFFER TO ME” based on our conversation and my unique circumstances.
I stopped Jorge when he said that. I asked “how can you assure me that I will be extended a loan offer by WBL.” He said “based on your circumstances I will without any doubt be extending a loan offer to you”. At the end of our conversation I asked again how he can guarantee a loan offer. I told him I was going to “hold his feet to the fire on that comment.” He said that is no problem because he “will be extending a loan offer to me.” Three times in 20 minutes he made that commitment. There was no miscommunication.
On that same day I sent the sales rep a completed World Business Lenders application, bank statements he requested, Articles of Incorporation to prove time in business, a copy of the insurance claim proving the cancer diagnosis and a graph from my credit report showing what my credit score is now and before I got sick.
On Thursday December 1, 2016 Jorge left me a voice message that said “call me I have some good news.” I returned the call and the sales rep said “the loan has been approved”, but it will be going through a third party lender named David Allen Capital, Inc. He said I need to complete an application for them. I asked why I need to do that if it has been approved. He said “they just need one on file”. I questioned him again about the approval. He said twice “it is a done deal.” And, he went on to say “you will receive funds tomorrow (Friday), Monday at the latest”. I sent him the completed application for David Allen Capital, LLC thirty minutes later.
That is the last I have heard from Jorge and World Business Lenders. They are unresponsive to phone messages I have left and emails I have sent.
I understand not everyone gets approved. I also understand I was guaranteed approval if my credit scores, deposits and bank statements reflected what we discussed on the phone – and they did exactly. So, even doing your due diligence upfront, and qualifying them, is a waste of time because you cannot trust what you are told. Just search reviews on World Business lenders, LLC.
I can only assume they wanted as much personal information as they could get from me so they could sell it.
I had several loans from WBL after a broker referred me and was paid for the referral. Soon after I was told that they could do much better rate on another loan. The income wouldn't pay the payment for long but since I was told that in 3 months of paying it on time they had a lender that could get me around 7 to 8% interest on 80% Cash Out loan. After they worked with me they restructured my payment but added even more money that I would pay if I had waited the whole time to pay off the loan. Since their new lender that they referred me to took my upfront fee then never contacted me again I was stuck and did not know what to do. Even though one loan was supposed to be $205,000 if I pay it back in 12 months and now they are telling me the payoff is $237,000. This is even paying it off in a matter of three and a half months. I have two other loans that they added a ton of interest on to it. Now I have a chance to refinance to a much lower rate and they have not reduced my payoff and it is $100,000 more than what it would have been a little over a month ago even though I have put $30,000 toward it in the last 35 days. I have filed a complaint with the attorney general and have tried to talk to someone there for a week and have had no response. The last response was they were going to take this situation before the board and see what could be done. According to my calculations my payoff should be around $370,000 and they are saying it is almost $500,000. I haven't really even gotten into detail what they did in the beginning as far as giving me the loans and lying to me about the fees.
World Business Lenders, LLC. Reviews
On March 1st I received a sales call from United Working Capital offering me funding. Asking me for bank statements which I furnished. After looking at the statements they guaranteed me funding. (I have emails to back this up.) Then it turned into a collateral loan, a week later I was secured a loan WBL for the amount of 25,000 like a daily cash advance.
I was hesitant and did not want the loan but Michael insisted (by the way Michael never would give me his full name and called from blocked number) saying it would open the door for a 500,000 dollar loan. The next day after they funded me 25,000 dollars, that after fees was 23000. That I had already payed 2,700 to start with. Michael said i got you the loan I just need you to put down 37,000 dollars to secure the loan.
I wired him 25000, because he agreed to lower it to that amount. I am a business man I should have known better, I’m only writing this so no one else will go through the five weeks of empty promises for nothing. Ill probably never get the 25,000 dollars back I have all documentation to back this up feel free to contact me (501)680-6048, so you don’t make the same mistakes I did. This is a 100% scam. I have turn it over to my attorney which is in contact with the attorney general.
NEVER USE THIS COMPANY, I DID A SMALL BUSINESS LOAN AND USED MY HOUSE TO SUCURE THE LOAN, I WAS TOLD THE INTERESTRATE WOULD BY 18% TO 21%, AND THE LOAN WOULD CONVERT TO A LINE OF AFTER A SHORT TIME. WELL THAT WAS A LIE, LATER I FOUND OUT THAT I WAS PAYING 91% INTERESTS, THIS IS HIDDEN IN THE CONTRACT NOW THE COMPANY IS FORECLOSE ON MY HOME AND I HAVE TO FILE CAPTURE 13BK TO PROTECT MY HOME. THE USURY LAW DOES NOT APPLY CAUSE THE PAPER WORK STATE'S Wisconsin which is a state that does not acknowledge usury laws. DON'T LET MY F**K UP HAPPEN TO YOU. PLEASE PLEASE DON'T BORROW FROM THIS COMPANY. IF YOUR LOCAL BANK WON'T LEND THE MONEY THEN YOU CAN'T HAVE IT.
I will Repeat and Say DO NOT USE this Company!! This Company told me a lie from the begining of our loan and told me that I was wrong.
The Company told me that I would take a loan out for 40k and that I could pay it off without any early payoff penalty at all. I used my Property as collateral and I used the next few months finding a bank that wouold refinance it for me in which I did. I will also like to say that the guy told me that my monthly amount due every month would be $850.00 but instead it was $140.00 daily which means every day they took this money out of my account. After 3 months my bank said they would finance the loan for 60K so I went to them and said that I will be paying the loan off and the guy told me that you still owe us 35k for the 3 months which is about 865% interest in which I was never told that I would have to pay that high of an interest!!! I received a loan for 40k and paid them 60k in 3 months so I thought that we were done but NO!! They have been calling me from a Collection agency stating I owe $102,000 now because of Interest and late fees from the 35K I owed!! This place should be shut down ASAP!!!!!!
This place is made to take small businesses and ruin them and close them down after I told them before I did the loan with my Bank that they could take my Property if it was going to make my Business become ruined!! I am complaining because no one told me that I would be charged daily fees and that my interest rate would be 865%!!!!
I have reached out to an lawyer and I will be proceeding with proving myself right and that I DO NOT OWE THEM ANY ADDITIONAL MONEY SO IF YOU ARE READING THIS PLEASE PLEASE STAY AWAY FROM THIS COMPANY!!!
Dontay
World Business Lenders, LLC, World Business Lenders, WBL, wbl.com, will waste your time with their lies. They have no interest in helping small businesses. It appears they are in the business of putting small businesses out of business. Their sales people lie to get you to submit an application because they probably get a spiff for each one. Or, they are just throwing as much against the wall as possible to see what sticks. If they really cared for small business owners they would know we don’t have time to waste being exercised because we work long, hard hours.
My 12 years 10 months old business took a huge hit while I was recovering from cancer, so I ran a Craigslist ad seeking a local private lender to help me get back on track with a short term loan up to $15,000. On Monday November 28, 2016 a sales rep with World Business Lenders named Jorge Morel responded to my Craigslist posting.
We spoke for about 20 minutes. During that initial call I shared my circumstances, revenue, deposits the last 90 days, bank statements, open invoices, credit score before and after getting sick, and more. He told me World Business Lenders is a direct lender and “WILL BE EXTENDING A LOAN OFFER TO ME” based on our conversation and my unique circumstances.
I stopped Jorge when he said that. I asked “how can you assure me that I will be extended a loan offer by WBL.” He said “based on your circumstances I will without any doubt be extending a loan offer to you”. At the end of our conversation I asked again how he can guarantee a loan offer. I told him I was going to “hold his feet to the fire on that comment.” He said that is no problem because he “will be extending a loan offer to me.” Three times in 20 minutes he made that commitment. There was no miscommunication.
On that same day I sent the sales rep a completed World Business Lenders application, bank statements he requested, Articles of Incorporation to prove time in business, a copy of the insurance claim proving the cancer diagnosis and a graph from my credit report showing what my credit score is now and before I got sick.
On Thursday December 1, 2016 Jorge left me a voice message that said “call me I have some good news.” I returned the call and the sales rep said “the loan has been approved”, but it will be going through a third party lender named David Allen Capital, Inc. He said I need to complete an application for them. I asked why I need to do that if it has been approved. He said “they just need one on file”. I questioned him again about the approval. He said twice “it is a done deal.” And, he went on to say “you will receive funds tomorrow (Friday), Monday at the latest”. I sent him the completed application for David Allen Capital, LLC thirty minutes later.
That is the last I have heard from Jorge and World Business Lenders. They are unresponsive to phone messages I have left and emails I have sent.
I understand not everyone gets approved. I also understand I was guaranteed approval if my credit scores, deposits and bank statements reflected what we discussed on the phone – and they did exactly. So, even doing your due diligence upfront, and qualifying them, is a waste of time because you cannot trust what you are told. Just search reviews on World Business lenders, LLC.
I can only assume they wanted as much personal information as they could get from me so they could sell it.
Next stop: David Allen Capital, LLC
I had several loans from WBL after a broker referred me and was paid for the referral. Soon after I was told that they could do much better rate on another loan. The income wouldn't pay the payment for long but since I was told that in 3 months of paying it on time they had a lender that could get me around 7 to 8% interest on 80% Cash Out loan. After they worked with me they restructured my payment but added even more money that I would pay if I had waited the whole time to pay off the loan. Since their new lender that they referred me to took my upfront fee then never contacted me again I was stuck and did not know what to do. Even though one loan was supposed to be $205,000 if I pay it back in 12 months and now they are telling me the payoff is $237,000. This is even paying it off in a matter of three and a half months. I have two other loans that they added a ton of interest on to it. Now I have a chance to refinance to a much lower rate and they have not reduced my payoff and it is $100,000 more than what it would have been a little over a month ago even though I have put $30,000 toward it in the last 35 days. I have filed a complaint with the attorney general and have tried to talk to someone there for a week and have had no response. The last response was they were going to take this situation before the board and see what could be done. According to my calculations my payoff should be around $370,000 and they are saying it is almost $500,000. I haven't really even gotten into detail what they did in the beginning as far as giving me the loans and lying to me about the fees.