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:Consumers allege that Cambridge Lending Service charges an advance fee for loans.
In the province of Ontario, it is illegal for a company to request an advance fee for a loan. All costs, including insurance, legal and administrative fees, are to be build into the loan repayment agreement.
The Government of Ontario requires every company operating in Ontario to be registered - this company is not registered with the Government of Ontario.
Loan companies conducting business operations in the Province of Ontario are licensed by the Financial Securities Commission of Ontario (FSCO). Cambridge Lending Service is not a licensed lender.
The BBB has confirmed with the landlord at 744 Baker Crescent that there has never been a tenant located in the building with this company's name.
Cambridge Lending Service's website states that they operate in all Canadian provinces, however, no other Canadian BBB has a review for this company.
The website domain name for Cambridge Lending Service is registered to a privacy protection organization located the country of Panama.
Consumers who do apply online for a loan should make sure the application form is encrypted. If the form is not secure, consumers could be subject to identity theft, and have their bank accounts compromised. It does not appear that the application form on this website is encrypted or secure.
If a local financial institution is reluctant to provide a loan, consumers should wonder why a company in another locale would be willing to do so?
Business Details
- Local BBB:
- Better Business Bureau of Greater Ottawa
- BBB File Opened:
- 31/8/2016
Additional Contact Information
- Additional Phone Numbers
- Other Phone: (888) 527-7199
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