Conservative Micro Loans

[melanie56]

Can anybody tell me if they think that http://www.conservativemicroloans.com is a scam.
Thank you

[Dotti]

The domain name is less than 2 months old, and was only registered for a year:

Domain Name: CONSERVATIVEMICROLOANS.COM
Created on: 16-Sep-11
Expires on: 16-Sep-12
Last Updated on: 16-Sep-11

Excerpts from their website:

Conservative MicroLoans Canada is not a lender and does not give loans or make lending decisions. Conservative MicroLoans Canada only provides a matching service for private lenders and does not represent any loan provider or single lending service. Conservative MicroLoans Canada does charge an application fee of forty nine dollars $49 plus HST (and applicable 1% LV Fee*) that will be deducted from your next payday for access to our P2P lending network. Conservative MicroLoans Canada does not guarantee the applicant a loan product and is based on the lenders discretion

So, essentially you would be paying a company that has approximately 6 weeks of history $49 dollars to try to find you a loan from loan companies.

You are not even required to have a high credit score to qualify because we do not do credit checks, but we will verify employment.

Legitimate lenders do look at credit score. The only real exception would be a payday loan lender (and if that is what you are looking for, you probably don't need a broker to find one anyway). A broker who is working with legitimate lenders should look at your credit history, so he/she knows what you are qualified for.

There are some good loan brokers out there, with long histories and lots of contacts and experience in the loan industry. There are also many people taking advantage of the economy to make a quick buck on unrealistic promises.

Based on the quick review I performed, I can't make any judgement as to whether they are scammers. I can say, though, that I certainly wouldn't hand my banking account info and a minimum of $49 to a "company" with 6 weeks history and a website like theirs.

[Mac Ramses]

Domain registration appears to be details stolen from a DJ in the USA. I'm not posting that data but it is available through whois.godaddy.com

@Dotti, follow the registrant phone number and you'll see where I ended up. A Disk Jockey registering a financial loans domain? Not likely IMO. Stinks of a scam to me.

[scamhater23]

I hate a scam just as much as the next guy, but if we look at CommunityLend and Prosper and Kickstarter they all charge fees for their loans matching services. I can say that I have proudly borrowed and repaid my $5000 microloan, if it wasnt for Conservative MicroLoans I would be trapped in the payday cycle still. Money Mart and Cash Money both have licenses and they are allowed under law to lend at 599% APR (Check it out). I used my loan to consolidate all of my payday day debt at a more manageble interest rate.

I Love Conservative MicroLoans and I know they are new but it was worth giving them a try as they do no credit check and they gave me an answer within the first week.

[Mac Ramses]

I can say that I have proudly borrowed and repaid my $5000 microloan, if it wasnt for Conservative MicroLoans I would be trapped in the payday cycle still. ... I Love Conservative MicroLoans and I know they are new but it was worth giving them a try as they do no credit check and they gave me an answer within the first week.

So, you found their BRAND NEW website, applied for a loan and paid 5K back again all between 16-Sep-11 and today 07-Nov-2011 ??



That's got to be the worst attempt at a shill post I have seen in a while.

[Conservative_MLoans]

Conservative Micro Loans is not a scam!!!

Conservative Micro Loans is a proud registered Canadian Corporation
in which we take pride in giving Canadian consumers in need of a short or long term personal/business loan access to our network of hundreds of Lenders.

However we welcome you to visit our website http//:www.conservativemicroloans.com fill out our secure application form and we will be happy to find you a lender.

Conservative Micro Loans Canada

[Dotti]

Interesting.
I checked the website, which refers to a "secure" application form. The only problem is, it is not secure. There is no evidence that any security is being used--but applicants are instructed to provide their personal banking information. It appears that the word "secure" is nothing more than a deceptive title. Entering your banking information on an insecure form is about as safe as posting it on a public bulletin board. You should NEVER enter any sensitive information into an insecure form, period.

I didn't take my evaluation any further, because collecting highly sensitive information on an insecure form is reason enough to stay away from any website. The title use shows an apparent attempt to deceive potential customers.

[Mac Ramses]

Conservative Micro Loans is a proud registered Canadian Corporation
in which we take pride in giving Canadian consumers in need of a short or long term personal/business loan access to our network of hundreds of Lenders.

What a crock of manure.

So tell me then my little nutty fruit cake, why is your 'Registered' company not actually in the list of Canadian Registered Corporations? I could go through each of the Canadian Provincial records too, but I think we know that will come up empty too.

The domain registration details have been Phished from a DJ in the USA, no details about the supposed company anywhere on the scammy website, no hint as to it's whereabouts or even a registration number. Insecure forms asking very private details. New domain etc etc.

conservativemicroloans.com is a cross between a Phishing website and an Advance Fee Fraud.

100% bogus.

[Miss Jackson]

These guys are scammers 100%. They got me, debit $106 from my account just to tell me that they could not find anyone to approve me for a loan. Do not use these guys as i am living proof that when they say they can get you approved no matter what type of credit score you have is a bunch of BS...

[Bubbles]

Welcome to ScamWarners Miss Jackson. I am sorry you got taken by this scheme. Sadly, there are people who will take money from people who can afford it least.

Feel free to ask questions about any items in the future and we will try to help you sort things out.