I recently started the process with Limitless Funding and after doing some due diligence after the initial call decided to not follow through with their service offering. I am going to state my reasons why just in case anyone is looking into them for financing they can at least consider this information as well. If you've had a good experience feel free to post about it. I am not saying that I had a bad experience, just that their company has sufficient red flags for me to not entertain them as a source of funds at this time. Below is all the information I considered. These two companies are the same company.
I attempted to edit my information to be in compliance with the no contact information rule, I hope that it's sufficient while still being helpful.
The Limitless Funding website's official information states, "Limitless Funding Source xxx-xxx-xxxx, xxxxxxxx, Jacksonville, FL 32202
- From website
- No collateral is needed to qualify for a loan. The product is based on credit and income. 700+ FICO required to qualify
- For term loans, clients must have a W2 or 1099 showing $50k per year or more
- For business credit, clients must have a business entity open for at least 24 hours.
- the application is free,
- no obligation to take more than you need even if qualified for more.
- No prepayment penalties
The company is licensed in Florida under L23000404059 to Dwayne Carpenter and Louis Solomon. The same people operate a company of the same name in Georgia but I did not make note of that license apparently.
From the initial call with a VA who deferred specific questions for the second appointment with an account manager:
* We leverage your personal credit, cash term loans, business cards, and business lines of credit
* No hard pulls for preapproval
* Funds are made available within 7-14 days
* 5 Phase funding process:
1. Assessment 24-48 hours, no hard pull, no social;
2. Funding pulled, DocuSign and documentation, if not pre-approved then credit specialists will help you (separate service offering, seems to be a core part of business, also seemed to be no charge but cannot confirm as that would've been a part of the second call). I was asked to be able to provide 2 years of tax returns
3. The account manager will go over the terms and information
4. Funds processed and received. Accept or refuse the offer, funds are forwarded to a bank of your choice.
5. Receive free products and resources
Google Reviews:
- Google Reviews
- 4.2 average out of 10 total reviews
- Wedney St Victor - For 5-6 months mailed credits and nothing was removed. Waste of time
- Carlos Herrera - 5 stars 7 months ago
- Talacia Cain was 1 star 4 months ago. Deceptive IOT practices to get funds and astronomical fees associated with it. Huge detriment to my credit profile
- James Heffernan 5 stars 8 months ago.
- William 4 stars (only review) 8 months ago. Able to get funding in 2 weeks to close my real estate deal.
- TT Bryant 5 stars (3 reviews) 9 months ago. Credit repair.
- Keith Evans (1 review) 5 stars.
- Ja'net Hines 5 stars (4 reviews) 6 months ago.
- Rivers and Smith (1 review) 5 stars 8 months ago.
- Elaine Damo 1 review (5 stars) 8 months ago
Reviews on BBB were all 5 stars from 1/2023 - 3/2023. Then 5/2023 and 7/2023 two 1-star reviews about deceptive practices and astronomical fees. Spam a lot and had negative credit impacts
- BBB
- Customer rating 4/5 of one customer review
- Not BBB accredited - years in business 5
- BBB
- 3.86/5 on 7 Reviews
- Accredited
- 2 Complaints closed in the last 12 months
- The owner is listed as Louis Solomon
- This one is limitlesslyfestyles
- ecorp.sos.ga.gov business ID 2646736 and Control number 18145949
- Filing Document Limitless Lyfestyles is Louis Solomon owns 30% and Dwayne Carpenter owns 70%
Notes from BP posts in the past:
9 Months ago Jonathan Perez did not go with them because he found that the LLC they're claiming is not registered on sun biz, Their Facebook page reviews are all robots and when I went over to the office stated on their website, he was told there's no such company doing business at that location. [I was able to locate the business registry on sunbiz, license # above]
6 months ago Seth Thompson felt they were not a safe route. He advised not to give out personal information. He asked who backed their funds and if they were held within the U.S. they could not fully respond. They stated USA funding but couldn't supply how they were able to offer the funding with no collateral. The representative did not know what it meant to be FDIC insured and did not offer a name of who insures their funding.
Patrizia Sanino explained that to limitless funding and stated a high fee is something like 15% within 48 hours of funding—no refunds on on fee amounts.
Dilruk Hettiarachchi states it's a scam, never give money before funding. Don't pay first to get the loan. Stated they push the score IQ accounts.
Carla Fears closed with them and they helped clear some things up on her credit report and they gave her an affiliate link. She was able to get a loan from DCU and Rocket Loans, she purchased a mobile home rental. [For me this felt like because she is now an affiliate she is helping clear the image, and since her loans were from other companies they didn't really address service requirements people on the forums were asking about, nothing against Carla at all.]
After notifying them I would not be moving forward with their services, calls from them came in from a number shown as Morgan & Westfield Jacksonville Business Brokers.
My other notes and thoughts:
After the initial call, I received an email from the VA regarding setting up the MyScoreIQ account before my second call appointment. In that email, they provide a link to create an account using a HubSpot Sidekick 51 tracker and also advise you what to set your password as, and then have you respond to the VA with your username and password and with the last four of your SSN. That's a nonstarter for me in it's own.
MyScoreIQ appears to be a program from Idiq
Looking into MyScoreIQ online "bestcompany" has a 1.4-star rating based on 25 reviews. Reviews are primarily stating that there is a brief free trial then you have to call to cancel, and those who did try to call to cancel seem to have tried for months without being able to get ahold of anyone. Largely negative rating on "pissedconsumers"
Looking on Reddit, MyScoreIQ comes up in /r/scams every so often, usually funding companies trying to have you do the trial and hand your info, sign up for credit, and ask for a cut out of the credit to pay them for securing the credit. `
Looking at the history of their company and the timing of their reviews, I'm just highly suspect. The positive reviews appear to be a bulk action/bot action early in the year in an attempt to establish legitimacy. Unbiased positive and valid experiences were not observed. It does not seem like they do anything you could not do yourself. If the reports of the fees are true to how they have been described, they create the available credit and before supplying it you pay them a fee to obtain it.
All of this was enough for me to walk away, I'm not saying you absolutely should, but I'm hoping this helps compile what I was able to find for those looking into them.
[edited to remove two addresses I missed from my notes]
