I received a direct mail piece from Copperline on 3-11-16 for a pre-approved business loan/line of credit. The rate was good, the credit fairly high, low interest rate (comparatively speaking, 6.67%) and no personal or additional guarantees (unless its used for capital equipment, then the equipment might be collateralized.
When things look this good, they are usually too good to be true. So, I did some digging. For a company in this business for almost 7 years (short time in the banking world), I expected to see something online about them. Good deals, bad deals, complaints, glowing reviews, something! But there really wasn't, or I didn't dig deep enough.
It's quite easy to flow the www with links, cross links, stories, posts from LinkedIn, FB, etc., and other www "flotsam" that will push bad info so far into the Google search results that all you see is the positive or neutral mentions and web pages.
I saw one "complaint" on some Angie's List type website but it was satisfactorily resolved.
The only thing I can find is on the BBB website. Copperline claims they are a member of the BBB, yet the BBB says they are NOT accredited with the BBB, This could be semantics, "accredited" vs "member", it could be a deliberate little "sliding in between the cracks" of the definitions or it could be a flat out lie on Copperline's marketing materials.
I would love further comments or insights if anyone has them (kmasavage@biobent.com). Maybe I've become jaded and cynical, but the scams out there are so pervasive. Like Reagan, trust, but verified. Any help would be appreciated.
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