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Cash Loan AmericaAbout
Important information
- Additional Info:BBB Tip: Advance Fee Loan Scams
By International Association of Better Business Bureaus. March 24, 2017.
https://www.bbb.org/article/news-releases/16919-bbb-tip-advance-fee-loan-scams
In this con, advance fee loan brokers promise a loan no matter how bad your credit history is. But once you pay the fee, the loan never comes. Requiring advance fees for loans is illegal in Canada. In Canada and the United States, it is illegal for companies doing business by phone to promise a loan and require payment before they deliver.
How the Scam Works:
You receive an email or phone call, or see a flyer or online ad, offering you a great deal on a car, mortgage, payday, or other loan. The company may promise a "guaranteed" low interest rate, or tell you that you qualify for a special program.
There are many versions of this con: home mortgage refinancing, low-cost government loans, student loan consolidation, special grants, or just an emergency loan to pay the bills. The catch is some kind of fee up front, such as a "processing fee" or insurance to get the loan or to lock in the low interest rate. Once you hand over the payment, the "lender" vanishes along with the money. BBB conducted an investigation based on recent consumer complaints and/or BBB Scam Tracker Reports to determine if this business/website(s) is operating an advance fee loan scam.
Specifically, BBB Scam Tracker reports alleged the business will send consumers money and request for it to be deposited into their bank account in order to make sure the account is "active", then request consumers to pay the amount back as either a transfer or as a gift card. Consumers later find out that the business funds were insufficient, and no loan would be issued from the business.
The business website was created on October 28th, 2020, displaying an A+ rating with BBB in addition to using the BBB logo. The business also claims that Doug Lebda is CEO, however BBB was not able to verify if Doug Lebda any affiliation or ownership interest in this company.
BBB confirmed that the Tampa address advertised does not belong to the business. Mail was sent to the address, however the actual owners of the mailing address called BBB to advise they are not affiliated with Cash Loan America.
Business Details
- Local BBB:
- BBB of West Florida
- BBB File Opened:
- 11/13/2020
- Alternate Names:
- Cashloan-America, Inc.
Additional Contact Information
- Principal Contacts
- Mr. Mark Williams
- Customer Contacts
- Mr. Mark Williams
- Mr. Ray Thompson
- Additional Phone Numbers
- Other Phone: (813) 425-1064
- Other Phone: (813) 524-8053
- Other Phone: (813) 524-9282
- Other Phone: (813) 701-9717
- Other Phone: (513) 880-5650
- Other Phone: (813) 551-1080
- Other Phone: (513) 685-6778
- Other Phone: (312) 701-3244
Licensing information
- BBB was not able to locate the required license that Cashloan-America, Inc. would need to offer loan services per their advertising.
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