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 July 23, 2019, BBB investigated the business practices of The Canada Builds Company. The investigation was prompted by a consumer complaint. The consumer alleges that Centrum Credit requested a security deposit in the amount of $1000.00, to secure an $10,000 loan. In North America, it is illegal for a company to request an upfront fee prior to obtaining a loan.
  
  BBB confirmed, on July 23, 2019, that Centrum Credit is not located at 161 Greenbank Road, Ottawa, Ontario. BBB urges caution when choosing whether to do business with a company whose physical location is unknown.
  
  On July 23, 2019, BBB checked the company's website (URL) to determine when it was created and where it was registered. The website was created March, 2019 and is registered in Toronto.
  
  Based on the information detailed above, BBB cannot confirm the legitimacy of Swanson Credit Services.
  
  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/
  
  BBB Tips:
  
  Vague or unclear fees charged before you get the money. There are often fees charged for loans: application fees, appraisals, credit report fees. A real lender will post those fees prominently and collect them from the money they are lending you, but a scam lender may try to collect them as a condition for you getting money. Any up-front fee you need to pay before getting the loan is a cue to walk away.
  
  Avoid guarantees and unusual payment methods. Real lenders never guarantee a loan in advance. They will check your credit score and other documents before providing an interest rate and/or loan amount and will not ask you to pay an upfront fee. Fees are never paid via Green Dot MoneyPaks, iTunes cards, or wiring money. Unusual payment methods and payments to an individual are a big tip off.
  
  Do your research. Scammers try to trick you by pretending to be from official or trustworthy institutions (including Better Business Bureau or your current lender) or sounding like a known organization. Contact the agency directly to check the program is real. Lenders and loan brokers must register where they do business. To check registration, in the U.S., call your state Attorney General's office or your state's Department of Banking or Financial Regulation. In Canada, contact the Office of the Superintendent of Financial Institutions.
  
  To report a scam, go to BBB Scam Tracker.