Businesses Should Proceed with Caution Regarding American Funding Institute

May 20, 2010

BBB Serving Memphis, TN is warning other businesses that several of their regional businesses have contacted the Better Business Bureau about an unsolicited robo-call regarding an event being held at an area hotel.

The call invites business owners to a “free community meeting” that will show them how to get their part of the American Recovery and Reinvestment Act stimulus money. Business owners receiving the call are questioning the legitimacy of the event.

The email confirmation received by businesses has no company identification on it, only a toll-free phone number. BBB Memphis contacted the company and spoke to two representatives who identified the company as American Funding Institute out of Las Vegas, NV. BBB files contain no information on this company.

American Funding Institute’s representatives were vague about: requirements for obtaining this stimulus money, what the money is to be used for, how much money is available, and the organizations and companies that are promoting and will be present at the event.

According to the email, to attend the event business owners need to bring a business check, a copy of their business license and a photo ID. The Better Business Bureau is unable to determine if this is a legitimate offer.


Businesses are encouraged to proceed with caution and be wary of giving company financial information to unknown parties.