BBB Business Review

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This business is not BBB accredited.

Loan Arranger, The

Phone: (708) 237-1210 Fax: (708) 474-5840 256 S. Brookdale Ln., Palatine, IL 60067


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BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Loan Arranger, The include:

  • Length of time business has been operating
  • No complaints filed with BBB


Customer Complaints Summary

0 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 0

Additional Complaint Information

On May 14, 2001, Attorney General Jim Ryan filed suit against a Justice man for defrauding consumers through a phony pre-approved car loan scheme.

The suit alleges that S. Michael Cizmar, d/b/a The Loan Arranger 8646 Roberts Road, Justice, violated the state's Consumer Fraud and Deceptive Business Practices Act and the Credit Services Organization Act.

The suit alleges that the defendant violated the law by misrepresenting to consumers that they were pre-approved for car loans and then accepting down payments on behalf of an auto dealership. Consumers claimed that Cizmar advertised he could get loans for people with credit problems. He allegedly would tell consumers that their loans were pre-approved and then ask the consumer to meet him at an auto dealership. At the dealership, the defendant would explain the details of the loan and accept the consumers down payment. Consumers complained that when their loans were not approved, Cizmar kept a substantial portion of their down payment-calling it a brokerage fee.

"If these allegations are proven, Cizmar blatantly mislead consumers about their auto loams and then cheated them out of their down payments when what he'd promised did not materialize." Ryan said.+

The suit alleges the defendant committed the following violations:
misrepresented that there was no brokerage fee for his services;
misrepresented that money would be applied to a down payment when he intended to deep it;
misrepresented that a consumer was pre-approved for a loan;
failed to register with the Secretary of State and post a $100,000 surety bond;
and failed to provide consumers with a disclosure statement
before accepting money on a contract.

Ryan is seeking a permanent injunction, restitution, costs of the investigation, a civil penalty if $50,000 and an additional penalty of $50,000 for each violation of the Consumer Fraud Act.

Based on BBB files, this company has an unsatisfactory record with the Bureau due to an unanswered complaint.

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Loan Arranger, The
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: October 18, 2000 Business started: 05/11/2000 Business started locally: 05/11/2000
Business Management
Mr. S. Michael Cizmar
Contact Information
Principal: Mr. S. Michael Cizmar
Business Category

Consumer Finance & Loan Companies Commercial Banking (NAICS: 522110)

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.