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San Diego, Orange and Imperial Counties

BBB Accredited Business since

Bank of Cardiff

Additional Locations

Phone: (888) 234-0166 Fax: (888) 234-0177 23282 Mill Creek Dr, Laguna Hills, CA 92653 View Additional Web Addresses


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This company offers funding services.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Bank of Cardiff meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that raised the rating for Bank of Cardiff include:

  • Complaint volume filed with BBB for business of this size.
  • Response to 5 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.

Customer Complaints Summary Read complaint details

5 complaints closed with BBB in last 3 years | 5 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 1
Billing/Collection Issues 3
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 1
Total Closed Complaints 5

Customer Reviews Summary Read customer reviews

5 Customer Reviews on Bank of Cardiff
Customer Experience Total Customer Reviews
Positive Experience 5
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 5

Additional Information

BBB file opened: May 12, 2010 Business started: 12/17/2007 in CA Business started locally: 12/17/2007 Business incorporated: 12/17/2007 in CA

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Department of Business Oversight (DBO)
7575 Metropolitan Dr #108, San Diego CA 92108
Phone Number: (866) 275-2677
Fax Number: (619) 682-7217
The license number is 603G469.

Type of Entity


Business Management
Mr. William Stern, Managing Director
Contact Information
Customer Contact: Mr. William Stern, Managing Director
Number of Employees


Business Category

Loans - Small Business Consumer Finance & Loan Companies

Alternate Business Names
CFLBC Commercial Finance & Leasing Bank of Cardiff Inc
Industry Tips
Financial Industry

Additional Locations

  • 23282 Mill Creek Dr

    Laguna Hills, CA 92653

  • PO Box 2562

    Del Mar, CA 92014 (858) 866-8525 (888) 234-0166

  • 1

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Complaint Detail(s)

6/2/2014 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: We were referred to Bank of Cardiff by an equipment company for financing the purchase of some equipment for our business. After providing all our financial information *****, our contact at Bank of Cardiff provided us with an equipment finance option. I repeatedly asked what the rate was and he said that it is not really a loan or a lease. I said it is essentially a loan and that they are providing the funds to purchase the equipment for a fee which is a loan and the fee is really interest. He told me the rate is equivalent to 7 1/2%. Considering the industry we are in I considered that to be fair. Prior to actually executing the agreement I had intended to work it out myself. When it came time to execute I believed I had double checked it and executed the agreement. Months later I needed to record the interest and principle payments on our books. They would not provide me with a break down and were very elusive. I decided to work it out myself and discovered the rate we are is around 12.9%. Needless to say I was furious. At no time did they disclose in any documentation the interest charge. For a "Bank" to operate this way seems so underhanded and fraudulent. I thought by working with a "Bank" there was some protection and disclosure laws against this kind of behaivor.

Desired Settlement: Rate/fee adjusted to what ***** said it was.

Business Response:

Dear BBB,

Please consider the following response to the complaint lodged by ****** ****** of ******* ********* ***.

On or about 10/02/13, Bank of Cardiff entered into an Equipment Finance Agreement with ******* ********* ***, for the purpose of financing the acquisition of commercial equipment to be used in the borrower’s business.  This is not a consumer transaction, and the agreement specifically prohibits the use of the financed equipment for family, personal or household purposes. 

Mr. ****** selected the equipment and negotiated the purchase price of the equipment with the supplier.  He was in possession of all of the facts and numbers necessary to calculate the expense his company would incur in borrowing the funds, that is the principal amount financed, the term of repayment, and the monthly payment.  Mr. ****** admits that he did not do such calculations prior to signing the agreement and returning it to Bank of Cardiff, and then the financing being funded by Bank of Cardiff.  The agreement expressly provides that the borrower has read and understood all of the terms of the agreement prior to signing.

With respect to the interest charged, it was expressly explained to Mr. ******, prior to his signing the agreement, that this was not an amortized loan product, but a straight installment contract, with no right of prepayment discount.  Using a simple interest calculation, Rock-It Surfaces will pay approximately 7.5% of the principal amount of the financing each year of repayment.  Mr. ******’s calculation of 12.99% is using an amortization calculator. 

There is no requirement under California law that the annual percentage rate be disclosed in the agreement, as this is a commercial transaction subject to the California Finance Lenders Law, under which Bank of Cardiff is licensed.

The agreement was sent to Mr. ****** to review at his leisure.  At no time was any coercion or duress applied by Bank of Cardiff.  Mr. ****** was free to consult with any advisors of his choosing, read the documents in his own time, and run any calculations he deemed wise.  He freely admits that he did not read the agreement prior to signing and returning the agreement to Bank of Cardiff.

Mr. ****** was also free to seek financing from another entity or simply walk away from the proposed transaction.  Instead, he decided to sign the agreement without first reading and understanding it, and now complains about the terms of contract to which he agreed.

In light of Mr. ******’s failure to take the reasonable precautions of an ordinary business person, the cost of the transaction when using simple interest is as represented, and the non-cancellable agreement has been funded, Bank of Cardiff is unable to adjust the cost of the equipment finance agreement as requested by ******* ********* ***.

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

5/21/2014 Billing/Collection Issues | Read Complaint Details

Additional Notes

Complaint: Bank of Cardiff was authorize to debit business account for $450.00 which they did so on 3/25/2014, however they debited an unauthorized $450.00 on 4/8/2014. Numerous phone calls and emails have been sent. I received one response via phone and was told that they would take care of the problem. Nothing has been done and now they will not return any of my phone calls or emails.

Desired Settlement: I want a cash settlement or ACH payment into the account that the funds were stolen from.

Business Response:


Please send a copy of both withdrawals to ******* and one will be refunded immediately.

*** *****

Consumer Response:


Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.


****** ***********

BBB's Final Determination: Consumer accepted resolution offered by the business.

4/7/2014 Billing/Collection Issues | Read Complaint Details

Additional Notes

Complaint: Last week Cardiff removed 350.00 from account by mistake. I notified them immedaitly and officer **** ****** admitted the mistake and said it would be rectified immediately. I told him of the additional 3 x 35.00 in overdraft fees they created by this inapropriate action. He said it would be rectified. Today it is a week later and I have called and emailed daily with no results. They no longer return calls or emails and incorrect withdrawl and bank fees have grown to 512. I have sent them actual snap shots of the account documdnting their mistake and associated fees. Please help

Desired Settlement: need funds and fees they created replaced ASAP

Business Response:

To whom it may concern:

Commercial Finance & Leasing Bank of Cardiff, Inc. approved a loan for ****** *** *** on March 4th 2014.  As part of the loan package we received a signed authorization form to debit their account for $250.  Before we could fund the loan ******’s account balance fell below the minimum required for us to fund. The file was sent in for funding and part of the funding process included the ACH. Upon final funding (prior to the release of our funds to them), we learned that their account had gone negative and that we could no longer honor the approval.

Commercial Finance & Leasing Bank of Cardiff, Inc. apologizes for having inconvenienced ****** *** *** by incurring their bank’s service charges.  We did not know that the debit for our processing fees would cause their account to become NSF (non-sufficient funds).  Our processing fee is a non-refundable fee that was incurred by the processing of this loan.  Unfortunately ******’s financial position was one that prohibited us from funding the loan.


Commercial Finance & Leasing Bank of Cardiff

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

This response is totally inaccurate. I was told by **** ****** of Cardiff two weeks prior to the removal of my funds that Cardiff was not going to fund the discussed loan. Everything was to be put on hold. Whne I called and told him what had been done by his company he was as surprised as I was.  This is simply another example of a bank covering their butt for inappropriate actions on their part. If tthe loas was not going to processes and we were told  of this 2 weeks prior there was absolutely no reason to process any part of the loan on Cardiffs part.
It is bad enough to make a mistake, but to cover it up and then try to blame the people who you removed the funds from is totally inappropriate. I have the emails from Cardiff stating that the loan would not be processed. NOT processes means not processed.
If this is not corrected I'm going to forward this information to the ethics committees on banking


****** *********

Business Response:


We do not want to post your bank account information on line, but please note that our ACH was for $250, not $350.  You sent us a printout of your bank statement, which we are not attaching for your security.  As a one-time courtesy we will refund the $250 in processing fees.  We will not however, reimburse you for service charges incurred due to the low balance on your account.  The low balance of your account is also the reason we were unable to process your loan. 


We are attaching the form you signed authorizing us to take the $250.  This will be refunded today.  We wish you the best.


Thank you,

Commercial Finance & Leasing Bank of Cardiff

BBB's Final Determination: After reviewing the position of all parties, BBB determined that the business made a reasonable effort to address the complaint. However the consumer remains dissatisfied.

11/12/2013 Advertising/Sales Issues
9/16/2013 Billing/Collection Issues