Is this company legal or a scam ?

I need to find out if this Canadaian company is legal or a they scamming? I tried to locate them on the map but shows 5 other business at same address. Company tells me they are a privatized company for that reason I won't find them on the map, but they share the same building with other business. Here is their Business license#05-088-009-621 and their Federal ID#01-864290-07. Can you please tell me if this is a real,legal and in good standing company or just another company who scams people. They faxed me a Loan application to fill out. With a 10%collateral they will loan me $10K at 6% for 4 yrs. Calling this a secured loan, because I have bad credit and I am trying to pay off bills and start new and rebuild my credit. Nothing shows up from the US or Canada BBB. I called the IRS and Franchise Tax Board both mentioned that a Fed. ID# should only be 9 numbers and not 10 but neither could say if the company is valid or not.

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Submitted 333 days ago...

Ruchele

Brain (3,166)

This sounds very similar to this question.

http://www.webanswers.com/business/internet-scams-babdb8

Loan Scam- In this scam a bogus company guarantees that an individual will be approved for a personal loan. However, before the funds are released the customer is required to send in a fee. Once the fee has been sent the customer never receives the loan. Be aware that it is illegal for a lender to ask for money before the funds are dispersed, if a loan has been guaranteed. Never do business with a company who presents such an offer.

It is important that individuals use caution when attempting to obtain a persona loan. It can be very tempting to jump at a juicy offer, especially if you’ve had credit problems in the past. However, this often leads to very bad results. It is in every individual’s best interest to investigate a lender to determine if they are legitimate before beginning a transaction. Also, it pays to be familiar with scams that are taking place around the country so you will not become the next victim of personal loan fraud.

Also, it is illegale to solicite over a fax number, this is a federal law and the company is subject to a $10,000 fine for doing so.

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