BBB Business Review
This Business is not BBB accredited
Community FinancialAdditional Locations
Phone: (888) 405-4068 1437 Warren Road, Lakewood, OH 44107
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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 16 factors. Get the details about the factors considered.
Factors that lowered the rating for Community Financial include:
- BBB concerns with the industry in which this business operates
- BBB does not have sufficient background information on this business
Customer Complaints Summary
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Additional Complaint Information
This company first came to the attention of the Cleveland BBB in January of 2006. At that time the company contacted a New York consumer with offers to provide a loan on the condition the consumer provide half of the funds - presumably as a "security deposit".
In March of 2006 a Michigan consumer was seeking a personal loan for people with less than perfect credit. He found the company website after conducting an Internet search. Via phone, company representatives advised their minimum loan is $5000 and that a 25% "security deposit" was required for processing. The consumer sent the monies via Western Union to a Toronto, Canada address. The consumer also provided a paycheck stub, a voided personal check, banking account information and their social security number. The company later acknowledged receipt of the monies ($1250). When they failed to provide the requested loan monies, the consumer was also instructed to wire an additional $989 to cover "insurance". Although the consumer refused to send more money and requested a full refund, the company has failed to comply with his request.
Based on research by the Cleveland BBB, the Lakewood, Ohio address referenced on the company website - www.thecommunityfinancial.com - does not appear to be a valid address.
The BBB has attempted to call Community Financial at its phone of 888-405-4068. However, as of May 10, 2006, a voice message indicates "…the account has been placed on hold".
NOTE: Consumers with less than perfect credit should use the following guidelines when seeking loans:
1. Know who you are doing business with. Obtain the name of the loan representative and the name, address, and telephone number of the company.
2. Don't accept the promoter's claims of guaranteed loan services at face value.
3. Insist on being told the name of the lending institution which supposedly will fund your loan.
4. Verify with the supposed lender all oral and written representations made by the promoter regarding support from that lender.
5. Ask for names, addresses, and phone numbers of other customers of the promoter, and contact them to see if they got their loans. Consider consulting an attorney or accountant for advice.
6. Ask yourself why the promoter can obtain a loan for you from a legitimate lender when you yourself have been turned down for a loan, perhaps many times. Take care of your precious assets by exercising caution when asked to pay a loan fee in advance.
WHO TO CONTACT?
If you have been victimized in an advance fee scheme in which the U.S. Mail was used, report your experience to your local postmaster or the nearest Postal Inspector.
If the company makes any reference to a Canadian location, consumers should also contact Project Phonebusters online at www.phonebusters.com or by calling 888-495-8501.
(For more information about this industry, see the Educational / General Comments portion of this report.)
Customer Reviews Summary Read customer reviews
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Business ManagementOffice Manager Mr. Shawn Mathers
Advance Fee Brokers