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Review 7/22/2009
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I was contacted by The Approval Group the 20th of July, 2009. They told me that I had been approved for the $20,000 loan. They also included all the paperwork and contract. It looked good until I got down to the last part where they requested that I send $500 for insurance. This was to insure the loan in case I didn't make the payments. After a year the $500 would be applied against the loan.
I wrote back and told them I did not feel comfortable sending them money when it could be deducted from the loan proceeds, in the same manner that banks and loan companies deduct their fees. I emailed that on the 20th. It is now 5 pm on the 22nd and I haven't heard a word.
I would suggest that you not do business with this company. People are being scammed by 'companies' that say you are approved for a loan but it needs to be 'secured' or 'insured' and you need to send the money before they can send you the loan proceeds.
Dan Barlow
Assorted Bakers Dozen, Inc.
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