USA Web Loan AKA 36monthloans.com AKA 9global.com is a total scam. They call you up saying you…read morehave been "approved" for a $4,000 loan, with 36 payments of $130. If you do the math that means your paying back $4,680 which is roughly 17% interest, expensive yes, but well within reason of credit cards and other unsecured loans like pay day or title loans, so I have no problem with what they are asking for. Here is where the problems began, when I google searched for USA Web Loan, I got nothing good or bad. So called them back and asked for their website and they told me that it was 36monthloans.com - so I do a little digging and according to THEIR website http://www.36monthloans.com/about_us it says and I quote:
"THE OPERATOR OF THIS WEB SITE IS NOT A LENDER, does not broker loans to lenders and does not make personal loans or credit decisions. This Web Site does not constitute an offer or solicitation to lend. This site will submit the information you provide to a lender. Providing your information on this Web Site does not guarantee that you will be approved for a personal loan. The operator of this Web Site is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product."
RED FLAG #1
So how on earth can THEY tell me I'm approved, when they are not the direct lender and they DO NOT make the final lending decision? They can't.
RED FLAG #2
Again, looking through their website I also found out under http://www.36monthloans.com/privacy again on THEIR website and I quote:
"36MonthLoans.com is a gateway website owned and operated by 9Global, Inc.Through our website we collect and compile information on behalf of our third party lenders."
Then you go to http://www.9global.com/ you learn that the are strictly a lead generation company - which confirms they are not a direct lender and cannot and does not make lending decisions. SO for them to tell potential customers that they are "approved" is a LIE. They are simply a lead generating front end for the lenders they work with on a regular basis. THEY cannot make ANY loan decisions, so for them to tell you that you ARE approved is fraudulent.
RED FLAG#3
The Address. When I called USA Web Loan back they gave me this
1001 Bayhill Drive, Suite 209 San Bruno,
CA 94066, United States of America
And when I go to http://www.9global.com/contact.html I am given the exact same address. So what's the problem? Here is the problem...
The Address belongs to Regus.
https://www.regus.com/office-space/united-states/california/san-bruno/california-bay-area-san-bruno-san-francisco-airport
Who is Regus? They are very well known executive suite company that provides MONTH to MONTH office space to companies and start ups. What does that mean? That they can change addresses at a moments notice, and with a new DBA and a new address, be back in business with NO HISTORY or NO COMPLAINTS!!!
RED FLAG#4
They asked me for $150 up front as a "registration fee", again if they are not a direct lender - why am I paying anything up front? Because as LEAD GENERATION company, that is how their revenue is derived! If they are making $150 on every single loan application they submit to lenders, then if the lender turns you down, they already have their money and could care less if you get approved or not. Its in their business interest to submit as many loan applications as possible, it makes sense for them to lie and tell you "you have been approved" so that you send in the necessary documents, therefore they have their fee ($150) and a complete loan application to submit to lenders. Without the documents, they don't have a complete loan application to submit to their lenders; and without the approval lie, they don't have a complete loan package to submit. So again, its in their business interest for them to LIE about an approval, because if you believe your approved - then of course your going to send in the documents they ask for.
RED FLAG #5
Complaints.
- On ripoff report they have a complaint under a different name https://goo.gl/Py8N9N
Not good.
SUMMARY
- You have someone working for a fly by night company saying your approved when you are not approved.
- You have that fly by night company owned by a LEAD GENERATION company
- You have a complaint of said fly by night company under a DIFFERENT name.
- You have a fly by night company with NO FIXED ADDRESS, renting out a month to month executive suite, where they can easily change their name (again) tomorrow and avoid any responsibly for screwing you over.
- You have a fly by night company asking for $150 up front.
This is a scam. Period. Run and Run Fast.