Beware of LoanConnect Impersonators and Fraudulent Lenders this Holiday Season

It has been brought to our attention that there is at least one additional company operating under the name “Loan Connect”. They have been posing as a lender to offer customers ‘government guaranteed’ loans. In some cases they ask the customers to send them gift cards before they can receive their loan. 

In other situations, they make it appear that they have placed a large amount of money in your bank account and then ask you to return it to them, and in return they will then release the full amount of the “guaranteed” funds.  

Neither of these practices are those of a legitimate lender. 

If you receive a communication from LoanConnect please ensure the following are true: 

  1. The email address is from extension @loanconnect.ca
  2. The company name is all one word “LoanConnect” 
  3. There is no direct offer of funding 
  4. The only phone number used is 1-855-936-5626 and our only office is located in London, Ontario. 

The Following are NOT Associated with LoanConnect

At the moment we are aware of the names Daniel Martin and Kevin Carter being related to this LoanConnect impersonation company. We have reason to believe their phone numbers may be changing, or already have, but to date they have been connected to the following numbers 343-700-9798 and 613-917-7372. And their reported address is 2211 Riverside Drive, Suite 308, Ottawa Ontario, K1H 7X5. 

LoanConnect is NOT a Lender

It is important to understand that LoanConnect is not a lender. We will never be the organization to offer you funding. Our role is connecting customers to the best lenders across Canada. We will never ask you to pay any fees, pay a “loan insurance” or ask for any of your banking information. Our services are completely free to connect you with the appropriate, vetted lenders. Asking for fees to secure a loan is an illegal practice. If you are ever asked to provide a loan company with money to guarantee your loan, or as any type of deposit, do not give them a dime. 

If you fear you have been involved in a fraudulent loan experience and have provided any banking information, we recommend you get in touch with your bank immediately to stop any future withdrawals. And then report your experience to the Canadian Anti-Fraud Centre

Look for Red Flags

Unfortunately, there are so many scams out there it can be hard to set the real lenders apart from the frauds. You can read more about detecting lending scams in our article, Three Warning Signs of Lending Scams. As a high level summary, always be cautious about lenders asking for or offering the following: 

  • Guaranteed loan approval 
  • Government guaranteed loans 
  • Loan insurance or loan deposits 
  • 0% interest rates
  • Gift cards to secure your loan 
  • Bitcoin

We can’t stop all scammers from operating, but we can do our best to stay vigilant and report them to the Canadian Anti-Fraud Centre. 

And always remember, LoanConnect is NOT a lender, we will never offer to send you money and that Daniel Martin and Kevin Carter are not employed with us.

×

Related Posts