Better Business Bureau warns of loan scam

BBB: Greenpoint Financial Resources Inc. soliciting large loans

Author: Jennifer Dodd , Reporter, jdodd@ksat.com
Published On: Dec 20 2012 04:34:06 PM CST
Generic money - Millionaires
SAN ANTONIO -

With Christmas just days away, a company is promising San Antonio residents quick cash for gift buying. But the loan comes with a catch and it could leave you nearly $1,000 in the hole.

"We're getting multiple reports from all over the country, that Greenpoint Financial is soliciting people for these large loans," said Kristi Pena of the Better Business Bureau.

Pena said Greenpoint Financial Resources Inc. is sending emails offering loans of up to $5,000, but before the victim receives the loan, they must send a $750 "insurance fee". When the applicant sends the money, they never receive the loan money or get a refund on the "insurance fee."

There was no phone number listed on Greenpoint Financial's website, only a place to send an email. KSAT 12 News sent the company an email, but it was not returned.

Pena said at least one person in San Antonio has fallen for the scam and the victim wants to warn other people before they lose a lot of money.

"We're asking if there are any victims, to file a report with us and they can also file a report with the FTC," Pena said.

Pena recommends getting fast loans from a local company. Doing so allows you to inside a building and speak with a person.

To see a list of other stories Jennifer Dodd has done, click here.