Wednesday, January 6, 2016

Shots in the dark, there ought to be disclaimers saying not all who apply will be approved

One of the few things I have learned and there are many , and that is online there are more scams, and schemes than there are truths. I in both media and in towing have learned if it smells good, you should not always eat it, more over if it looks like a good deal best check under the hood. A few weeks back I saw a small ad on FB from some outfit called My Company Funding, so I blindly followed and said if they could fund my business they could fund any body, so send me the details. So just this past Monday, my complex manager gave me the faxed application. I'm still looking at it, but I smell some rotten sausage here too. There really ought to be a disclaimer that says, NOT EVERYBODY WHO APPLIES WILL BE APPROVED. Especially if your not running credit cards and such. At both Highway Hooker Toewing and SpeedWrench Toewing due to many abuses and credit extensions we don't do credit cards. We only accept cash, or money order from approved trucking and commercial accounts, mostly cash. 
Due to a mishandling of funds that started in July and embezzlement, Some bills and expenses were not paid, including shop rent. So I figured, hey maybe I could hit this loan company up for at least $10k, to pull us out of a jamb. So I got to chatting with this cat named Dom, and what I see is we don't qualify, both from our firms number of tow calls, and all. We are lucky if we pull out $2k a month and that's before bills. When you see things that say You can have up to a million in your bank account in one business day, or something to the effect, especially if your dealing with someone out of state or across the states to the east, its a red flag. But at least Dom, tried. Thing is, his company ought to shoot out a check to the company to me for say $1,000.00 for the trouble of waiting a month for a fax or snail mailed application. If I did that , both tow companies would have been out of business years ago. Its something called integrity, and its pretty much a given that , that is a good thing when most of the time all you have is your word. 
Now for some big news.
Highway Hooker Toewing is going offline. We are working to bring up both RodeWolf Toewing in both Nevada and western Utah, and SpeedWrench Toewing in Utah, Idaho and yes Wyoming. Highway Hooker Toewing was great in the day of CB radio, and all that but in todays PC world and all it does not work well. The conservative nature and attitude of where we are located does not understand nor care much for that name. So by the advice of my partner at the shop and all some reworking is under way. Even if I do move to Idaho in a few months which is more probable than it may seem, what we were as SpeedWrench Toewing can be us again. Including John Deere Green/yellow/black trucks.
So if you get some offer from an out of state business cash advancement company, run don't walk, run away from it. If your normal bank can't finance you neither can these loan companies.