Wilshire Financial Group raises several red flags. BEWARE.

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:

  1. What you are getting
  2. When you are getting it
  3. 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.

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Author: Terrence Brannon

1 thought on “Wilshire Financial Group raises several red flags. BEWARE.

  1. Wilshire Financial Group is an imposter firm that claims to offer rapid enhancement of corporate credit profiles so that small businesses can attract funds in a matter of weeks as opposed to years. However, a closer inspection of their services reveals that they actually simply take payment (always in an irreversible fashion) based on vaguely worded contracts that have no specific action items. In other words, instead of providing a detailed analysis of your current corporate credit profile and providing a Statement of Work of what they intend to fix (and by what date it will be done), there contract is vaguely worded to avoid having to achieve any specific improvements in your credit profile to fulfill the terms of their tendered contract.

    They also lied about why they do not take credit cards. When speaking to John Garry, he said: “oh, we can’t take credit cards because our lenders dont want to see you using credit to get credit”. The obvious flaw in this logic is that it takes time for credit card usage to reflect on credit and presumably their rapid fix-and-fund process would complete before any such reporting. Furthermore, use of corporate credit does not affect one’s personal credit.

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