The Department of Business Oversight (DBO) has received information that the website www.financeservicecorp.com is marketing itself as a consumer and commercial lender without authorization from the Department. Moreover, the website appears to be using the name and contact information of a legitimate California company to perpetrate an advance fee loan scam.

The website appears to be impersonating Finance Service Corporation (FSC) by using its name, address, and the name of its CEO. Representatives of FSC say the company operates no website and does not offer any financial services to the public. The website also falsely claims it is “Licensed by the State of California.” The DBO has not issued any licenses to the website or its operators.

Complainants allege they were contacted on social media websites like LinkedIn and Alignable with offers of large loans at low rates from FSC. They were then presented with professional-looking loan documents that used FSC letterhead. These loan documents require the borrower to pay various fees before receiving a loan. After paying the fees, complainants said they did not receive promised loan funds.

The DBO urges consumers to exercise extreme caution before responding to any solicitation offering financial services. To check whether a financial service provider is licensed in California, or to file a complaint, consumers should go to the DBO website at www.dbo.ca.gov or call 1-866-275-2677.