Loans
Lending Mate LoansInformation and Alerts
Accreditation Status
This business is not BBB accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
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Alert Details
This business has 1 alert.
Alert
In August 2023, BBB investigated the business practices of Lending Mate Loans. This investigation was prompted by complaint and scam tracker reports. The information received from consumers suggests that this company is offering loans for an advance fee. Consumers have advised they applied for loans and after paying a fee or "insurance", they did not receive the funds as promised. There were also reports that the company requested gift cards be sent as a way to increase a customers credit score or prove their ability to pay. In Canada, it is illegal for a company to request any upfront payment prior to obtaining a loan.
On August 29, 2023, BBB confirmed that Lending Mate Loans does not occupy the address where they claim to be located (1508-180 Dundas St W, Toronto, ON, M5G 1Z8). This address was previously occupied by LendingMate Financial Services Inc (LendingMate.ca) who have no relationship to Lending Mate Loans. BBB urges caution when choosing whether to do business with a company whose physical location is unknown.
On August 29, 2023, BBB checked the website https://lendingmateloans.com to determine when it was created and where it was registered. The website was created on January 17, 2023, and the registrant information was not disclosed. The website is currently inactive.
Based on the information above, BBB cannot confirm the legitimacy of Lending Mate Loans.
If you believe you are a victim of an advanced fee loan scam, BBB suggests that you to contact local law enforcement and the Canadian Anti-Fraud Centre at 1-888-495-8501.
For additional information on Advanced Fee Loans click here
BBB Tip: What to consider when researching personal loans
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