Business Loans

5 Infallible Tips For Not Falling Into Business Loan Scam

Faced with different needs , applying for a line of credit for your company may be the best and most indicated choice. However, in case you do not make the right option, you may suffer a business loan scam. an elucidation on

This type of trick happens when you apply for a claim to a supposed company or representative that requires, in return, that an amount be deposited in advance. After that, the scammer disappears with your money (and you do not receive the amount equivalent to the loan).

To stay on top of this scam, keep following our post and check out 5 tips to quickly recognize malicious proposals. Check out!

How not to fall into the blow of business lending?

Make sure the company exists

To avoid being cheated, you need to be very cautious when choosing an entity to get the loan. Here, all care is little. Therefore, before considering a company to apply for credit, verify that the financial institution is authorized by the Central Bank.

Doing this query is simple. Just go to the Central Bank website and look for the ” Find an Institution ” option. You can also reach us by phone at the number 145. You will need to have in hand some information and data about the company in a short time, to discover its origin and regulation.

In the case of some digital credit companies, it is only possible to find the name of the financial institution responsible for making the credit and investment operations carried out. To verify BizCapital, for example, one should look for the name of Socinal SA – Crédito, Financiamento e Investimento , a partner institution that has been operating in the market for more than a decade.

Know the rates and terms

Loan Rates

If you want to get away from a blow and at the same time not be surprised by abusive agreements and clauses, it is your duty – and right! – read and understand each line written in the contract.

Therefore, be aware of the fees charged, the existence of additional charges and terms that are not well explained or that are not in accordance with the law. Also evaluate the CET (Total Cost Effective), since this is the parameter that must be considered to know if your firm is able to pay off the debt.

Serious financial entities do not commit a very high percentage of your company’s income to repay the loan. Institutions that act in bad faith do not respect the limits of the CET. Therefore, read and reread the contract as often as necessary.

The basic parts that should be included in a business loan agreement are:

  • qualification: your personal information;
  • creditor: name of the company that is making available the credit or data of the correspondent bank;
  • promise of payment: commitment to comply with loan payments;
  • characteristics of the credit operation: total credit, IOF, interest, tariffs, CET, net credit amount, annual rate and coefficient for calculating the definition of the value of the benefits;
  • form of payment: value, quantity, form of payment and maturity date of the parcels;
  • data of the correspondent: address, CNPJ, corporate name and other information of the financial institution releasing the credit;
  • charges: full description of the percentage of interest incident on the occurrence of delays in the payment of installments;
  • Release form: Your company’s bank account number to deposit the credit amount.

In addition to thoroughly reviewing the contract, keep any advertising or advertising you find, either on the institution’s website or in information leaflets. This is a great way to prove the conditions that have been offered. In addition, request an e-mail copy of the entire contract.

Search for company history

When considering an institution to apply for your business credit , check to see if it has cases of serious complaints or even indications from clients who have already been injured or have suffered loan scams.

At this stage, the indicated thing is to do searches on the internet. Searchers such as Google, social networks and consumer protection sites Reclame Here and Procon are great tools to find the institution’s homepage, complaints, reviews and customer comments.

When doing a search on the company’s website, look for a green lock. This is the security certificate token that indicates that the platform user has an encryption system so that third parties do not have access to your information.

Never make deposits in advance


When the company asks for early deposit, beware! This is a big sign that you are about to take a hit. Always be wary of the insistence and pressure to make this transfer and never give in. It is unusual for reputable financial institutions to work with advance deposits to clear their credit.

In addition to not making value-for-money transactions, you should not provide your documentation before deciding to complete the business loan.

The most common way of scams and injuries in malicious people is to ask for a lump sum before you contract and after that, disappear with your money without leaving information. Always protect yourself and distrust!

Do not make deposits on accounts of individuals

Another sign of corporate loan scam is when the company representative requests that the agreed amount be deposited in a personal bank account. This may mean that the person or company is not in compliance with the law or has something to hide.

Thus, any and all type of financial transaction or process involving a business loan on behalf of a financial institution should be done in the account of the entity. Always check your bank account and make sure that the person who is taking care of your contract actually represents the institution in which you claim to work.

Although there are misleads that apply the corporate loan scam, online credit, when done in conjunction with reputable, reputable and law-abiding companies, is a great alternative for your company, whether to bet on improvements or to get out of financial crises .