Is it possible, anywhere in the US for a funding firm to not have a license number showing somewhere?
I want to get some financing for my small business, I can find hundred of websites that offer such... but their webpages have absolutely no addresses, no license numbers, no names, just a fictitious name and a phone number.
Could these businesses offering loans be legitimate? How/why would anyone ever make such offers without real contact information? Why wouldn't there be better consumer protections against such businesses?
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In the United states the US government has the Small Business Administration. They also have Small Business Development Centers SMDC to help. These are also supported by state governments and colleges and universities.
SBDCs provide services through professional business advisors such as:
development of business plans; manufacturing assistance; financial
packaging and lending assistance; exporting and importing support;
disaster recovery assistance; procurement and contracting aid; market
research services; aid to 8(a) firms in all stages; and healthcare
information. SBDCs serve all populations, including: minorities;
women; veterans, including reservists, active duty, disabled
personnel, and those returning from deployment; personnel with
disabilities; youth and encore entrepreneurs; as well as individuals
in low and moderate income urban and rural areas. Based on client
needs, local business trends and individual business requirements,
SBDCs modify their services to meet the evolving needs of the hundreds
of small business community in which they are situated.
SBDC assistance is available virtually anywhere with 63 Host networks
branching out with more than 900 service delivery points throughout
the U.S., the District of Columbia, Guam, Puerto Rico, American Samoa
and the U.S. Virgin Islands,.
Your local SBDC should be able to help you identify local sources of funds, including government backed loans for small businesses.
Well, these can range from loan broker to outright scams. It is pretty typical that loan broker just take some fee in the middle for their service of filling your applications for a bunch of real loan provider companies. Because making a web page costs nothing, a single loan broker could easily have many web pages with a bit different marketing so that they can get as many customers as possible.
But of course some of the web pages can be actual scams. As soon as you provide enough information for taking out a loan, they can go to a real financial institution, take out the loan and run with the money.
In most countries consumer protection laws do not apply to business-to-business transactions, so you have to be even more wary of scams than usual.
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