Complaint Review: World Business Lenders LLC - Jersey City New Jersey

World Business Lenders, LLC, World Business Lenders, WBL, wbl.com, will waste your time with their lies. They have no interest in helping small businesses. It appears they are in the business of putting small businesses out of business. Their sales people lie to get you to submit an application because they probably get a spiff for each one. Or, they are just throwing as much against the wall as possible to see what sticks.  If they really cared for small business owners they would know we don’t have time to waste being exercised because we work long, hard hours.

My 12 years 10 months old business took a huge hit while I was recovering from cancer, so I ran a Craigslist ad seeking a local private lender to help me get back on track with a short term loan up to $15,000. On Monday November 28, 2016 a sales rep with World Business Lenders named Jorge Morel responded to my Craigslist posting.

We spoke for about 20 minutes. During that initial call I shared my circumstances, revenue, deposits the last 90 days, bank statements, open invoices, credit score before and after getting sick, and more. He told me World Business Lenders is a direct lender and “WILL BE EXTENDING A LOAN OFFER TO ME” based on our conversation and my unique circumstances. 

I stopped Jorge when he said that. I asked “how can you assure me that I will be extended a loan offer by WBL.” He said “based on your circumstances I will without any doubt be extending a loan offer to you”. At the end of our conversation I asked again how he can guarantee a loan offer. I told him I was going to “hold his feet to the fire on that comment.” He said that is no problem because he “will be extending a loan offer to me.” Three times in 20 minutes he made that commitment. There was no miscommunication.

On that same day I sent the sales rep a completed World Business Lenders application, bank statements he requested, Articles of Incorporation to prove time in business, a copy of the insurance claim proving the cancer diagnosis and a graph from my credit report showing what my credit score is now and before I got sick.

On Thursday December 1, 2016 Jorge left me a voice message that said “call me I have some good news.” I returned the call and the sales rep said “the loan has been approved”, but it will be going through a third party lender named David Allen Capital, Inc. He said I need to complete an application for them. I asked why I need to do that if it has been approved. He said “they just need one on file”. I questioned him again about the approval. He said twice “it is a done deal.” And, he went on to say “you will receive funds tomorrow (Friday), Monday at the latest”. I sent him the completed application for David Allen Capital, LLC thirty minutes later.

That is the last I have heard from Jorge and World Business Lenders. They are unresponsive to phone messages I have left and emails I have sent.

I understand not everyone gets approved. I also understand I was guaranteed approval if my credit scores, deposits and bank statements reflected what we discussed on the phone – and they did exactly. So, even doing your due diligence upfront, and qualifying them, is a waste of time because you cannot trust what you are told. Just search reviews on World Business lenders, LLC.

I can only assume they wanted as much personal information as they could get from me so they could sell it.

Next stop: David Allen Capital, LLC