BBB Business Reviews may not be reproduced for sales or promotional purposes.
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
Step One Financial Services
BBB concerns with the industry in which this business operates
BBB does not have sufficient information to determine how long this business has been operating
1 serious complaint filed against business
BBB does not have sufficient background information on this business
closed with BBB in last 3 years |
closed in last 12 months
Total Closed Complaints
Problems with Product/Service
Total Closed Complaints
Additional Complaint Information
This company first came to the attention of the Cleveland BBB in July of 2011.
At that time, consumers in Texas and Arizona reported being approached by phone from this company with offers to provide loans in exchange for an advance payment of insurance fees. The fees ranged from $750 to $1345 for loans ranging from $5,000 to $18,000.
Although the company website, www.steponefinancial.com, is registered to a Canadian address, it references an office address of 4421 Renaissance Parkway, Cleveland, Ohio, 44128. BBB files indicate a company with the name, Step One Financial Services, Inc., had been located at that address. However, that company was known to provide home improvement loans in the Northern Ohio area – not advance fee loans. In addition, both local phones to that company have been disconnected and mail has been returned "Attempted - Not Known / Unable To Forward", suggesting that company may be out of business.
The Cleveland BBB has found no additional corporate registrations with the Ohio Secretary of State other than that of the suspected out of business company. In addition, the Cleveland BBB has been unable to verify any licensing with the Ohio Division of Financial Institutions for this provider of advance fee loans.
This report will be updated when more information is available.
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.
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.
Complaint Process |
File a Complaint against Step One Financial Services
See Trends in Complaints on Step One Financial Services
| View Complaints Summary by Type Pie Chart on Step One Financial Services
Complaint Type Pie Chart: Overview
BBB file opened:
July 22, 2011
Advance Fee Brokers
The following Government Agency(s) or Association(s) may be able to provide you
Ohio Attorney General - Main Office - Columbus
State Office Tower, 30 E. Broad Street, 17th Floor, Columbus OH 43215-3428
Phone Number: 800-282-0515
Federal Trade Commission (FTC) / Consumer Response Center
600 Pennsylvania Avenue, NW, Washington DC 20580
Phone Number: (877) 382-4357
Advance Fee Loans