If you are a small business owner looking for funding, more than likely you have seen the “Aged Super Corporations” ads of Wilshire Financial Group. I see them on my phone, on YouTube, when I play chess, everywhere. I was desparate to get a bit more funding than I got from a legitimate source and so their website and it’s unstantiated promises had me licking my chops. However, having survived a dangerous encounter with another high-level scam artist, I saw several issues with their game:
Irreversible payment methods
After receiving their Funding Agreement, I noticed the email said “we will contact you with info on how to wire funds to us”. Wire funds? Why on earth can I not use credit cards? Simple – because they dont want me to reverse the charges when they don’t pay. According to John Garry at Wilshire Financial Group the reason they dont accept credit cards is because “it looks bad to their lenders for me to make payments to them on credit cards.”
That’s a big fat lie because if done properly it would not even report by the time funding was done.
No clear statement of work to be done
They sent me a nice professional-looking PDF contract (with someone else’s EIN on it) and they did not specify what work would be done. That is, they simply said: “credit repair for funding”… remember: when you pay for something, be sure you know:
- What you are getting
- When you are getting it
- What recourse you have if they don’t do what they are paid for.
Now, looking at the Funding Agreement they sent. They arent clear on what changes they will be making to your credit profile…. in other words, because they do not provide an itemized list of what they promise to fix on your credit profile, they dont have any clear obligation to do anything to earn their payment.
They do not say when they will perform.
And they make sure that you pay by “check, cash, gold or wire” – every single way that makes sure you cannot get your bread back.
No 3rd party testimonials
A good professional funding source has excellent 3rd party reviews and many active social media channels. Here are some examples:
11 Years of Robbing Optimistic Small Business Owners Blind
Wilshire Financial Group was formerly known as “Beverly Hills Corporations” but after they got reported on ripoff report numerous times, it appears they decided to change their name and continue their filthy game. Actually their new company shows up on Ripoff Report as well, but for some reason, the search engines did not index the complaints.