PLEASE...DO NOT APPLY!

Yes, I applied for a $8, 000 loan from Lenox Banking & Funding. (The min. amount stated on appl. was $8, 000).

Two days later I get an automated call from a woman asking me to get in touch w/my loan 'officer', & so I called & was asked to fax a copy of two paystubs and some form of I.D., which I did. (I sent him, Mr. White, a copy of my license).

I then called back after the weekend to see if he had received my fax, which he did...but this is where the RED FLAGS came up...First, he said he would have to send my paperwork upstairs for approval, but before our conversation ended he made the statement, "Oh, you've been approved". (red flag). Next, he explained that he would either need collateral or insurance to cover the $8, 000 loan. So I told him I would have to apply for the 'insurance' & that's when he told me I would have to pay $635.00 (by Western Union ONLY), up front for the insurance BEFORE 'they' would release the funds into my account (big red flag), stating that they have had problems in the past w/banks & would ONLY accept Western Union Grams. Well, if you are a so-called 'Lending Institution' then you should know the proto-call. (red flag). So then I asked him to send me a copy of the contract (which he did & what a small contract it was, & I told him so). Well the contract looks like this, pretty much just a list of payment dates, how much you are to receive from them (which would be placed in your account 3 hrs. after sending the insurance payment in), a partial address, (Lenox Bank & Lending, 553 Roosevelt Hwy., Suite 155). NO CITY & NO ZIP. (red flag), and last of all, there was NO UNDERWRITER for the insurance co.. There was no insurance company, but the biggest red flag was that he, Mr. White, was calling me from HIS CELL PHONE! I asked about that & he said he was having some problems w/the phones. (You're a banking institution, YOU DON'T HAVE PROBLEMS WITH YOUR PHONES!)

Well of course, he didn't receive MY $635 (& at this very moment he is awating my call to let him know the Western Union is on it's way).

After a little investigating & the report I read above, I decided to write this report (while he's awaiting my phone call :).

Again, PLEASE DO NOT APPLY TO THIS SCAM! You work too hard for your money! Mr. White & Ms. Green are the only one's getting paid!