About
Important information
- Believed to be out of business:According to information in BBB files, it appears that this business is no longer in business.
- Additional Info:On April 24th, 2018, BBB investigated Easy Money Lending/Hard Money Guys business practices. This investigation was prompted by a consumer complaint. The Consumer alleges that they were pre-approved for a $650,000.00 loan for a 1 year term. The Consumer was requested to transfer $3,100 for a "Provision of Service Fee". Easy Money Lending/Hard Money Guys contract claims the fees must be paid in US funds.
The consumer alleges that Easy Money Lending/Hard Money Guys offers advance fee loans. Advance fee loans are illegal in Canada and the US.
On May 17th, 2018, BBB checked Easy Money Lending/Hard Money Guys website http://www.hardmoneyguys.net to determine when it was created and where it was registered. The website was created on March 23rd, 2017 and is registered in Burlington Massachusetts.
Consumers who apply online for a loan should make sure the application form is encrypted. If the form is not secure, any information transmitted on the form may be intercepted, which could result in identity theft.
If you believe that you have been the victim of fraud, BBB suggests that you contact the Canadian Anti-Fraud Centre. http://www.antifraudcentre.ca
Tips:
- Beware of companies offering a guarantee on your loan especially if you have bad credit or no credit.
- Advertising through a recognized media outlet does not ensure that the ad was placed by a legitimate company.
- It is illegal for a company to request an upfront fee prior to obtaining a loan (insurance, administration fee, etc)
- If you are requested to wire funds through Western Union or MoneyGram, or to deposit funds in a bank account, it's most likely a scam.
BBB attempted to send some correspondences to Easy Money Lending/Hard Money Guys, located at 2305 Highway 12 Brechin, ON. The mail was returned today, May 22nd, 2018, as address incomplete and or unknown by Canada Post. BBB urges caution when choosing whether to do business with a company whose physical location is unknown.
Business Details
- Local BBB:
- Better Business Bureau of Greater Ottawa
- BBB File Opened:
- 24/4/2018
- Alternate Names:
- Hard Money Guys
- 1933313 Ontario
- Business Management:
- Mr. Michael Stanfield, Loan Officer
Additional Contact Information
- Principal Contacts
- Mr. Michael Stanfield, Loan Officer
- Customer Contacts
- Mr. Michael Stanfield, Loan Officer
Licensing information
- On April 27th, 2018, BBB confirmed that Easy Money Lending/Hard Money Guys had not obtained a necessary license from Financial Services Commission of Ontario, Ministry of Government and Consumer Services and the Office of the Superintendent of Financial Institutions.
Such a license is required in Ontario for businesses offering loans against "Personal Loans, Payday Loans, Car Loans, and Mortgages" under the Payday Loans Act, 2008.
BBB encourages you to contact the agency or agencies to confirm this information:
http://loanandtrust.fsco.gov.on.ca/loantrust.aspx
https://www.consumerbeware.mgs.gov.on.ca/esearch/start.do
http://www.osfi-bsif.gc.ca/Eng/wt-ow/Pages/wwr-er.aspx?1
More Resources
Featured Content
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.