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Anyone hear of Miguel Private Funding? They loan up to $10M

He claims that he is a middleman, this is the process.

Fill out an app, has drivers license number etc. of course, i dont know how they verify everything is legit etc.

1. Miguel wires X amount of money to a credit card
2. I wire that amount to some person "Silent investor"
3. Later on, this "silent investor" wires money to my bank account.

If i use a card that is maxed out and open an account with nothing in it, how
would i get scammed?

I am not giving my ssan to them, they dont ask for it. obviously we all want money to fund our biz but this doesnt make a whole lot of sense yet i am trying to figure out the angle. I dont see how they would scam me if there is no available balance on my credit card and my bank account is empty.

Anyone have anything to offer? Here is the link. This cant be legit but i am
curious.

http://www.rehabahouse.com/StLouis/forums_posts.cfm/discussions/We-can-close-quickly-/forum_id/1/sub_id/11/post_id/784/

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Answers (6)
Tom Harrier
Business Brokers of Central Florida, Inc
FL

With your driver's license info, they will have your name, your date of birth, your home address, your driver's license # and in some states, even your Social Security #. I'll bet the application asks for your Social Security #. Ever hear of Identiy Theft? With the information you're providing, they'll open up accounts in your name, using your information and the next thing you know, you'll be hammered by bill collectors, wanting to get paid for purchases you never knew about. Please report this to your local authorities. It is an Identity Theft scam. Here is a web site with more info.

Aug 22, 2010
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I've been communicating with him also for a few days. It just seems too good to be true. And you know what they say... I've received the same instructions. I told him he could sed me a photo copy of HIS credit card, then give me HIS credit info or withdraw the money and send it to me by western union. I believe if he uses an unauthorized credit card or credit line to deposit money, once the real cardholder finds out (after seeing a statement) and disputes the charges, the charges will be reversed, but you'll still owe for the cash (plus interest) that you took out.

Aug 20, 2010
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Biz2Credit LLC
New York County, NY

Joe,
Better to go to more well established players. Biz2Credit (www.biz2credit.com) works with over 100 banks offering 150 plus lending products. Register for free and chose a case manager support to help you walk through the process. These kind of proposals look scam.

Aug 10, 2010
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Corporate Financiers
President

what are you looking to accomplish? As a prior banker at merrill lynch with an accounting background from the U. of MI and Northwestern I may be able to help to raise capital. Give me a call 312-488-3505

Aug 9, 2010
Jeff Rauth
Commercial Finance Advisors
Oakland County, MI

I really don't get the process. How much money are you trying to borrow?

Aug 9, 2010
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R A

Hi Joe,

I myself have come across these kind of scams a few times when I was looking for investors. I see your point about there seeming to be no risk for you but if they have your credit card information, they can probably get other information about you just from that. I don't know personally since I always felt that this had to be a scam but I would ask him if he is registered with the BBB or check if they have any complaints on file for him. Because new scammers pop up all the time, there may not be any scam reports on the web about him yet but that doesn't mean that there won't be at some point. Hard to know until then. What kind of business are you trying to buy? I am looking at one to purchase right now, but I am considering investing in one in the near future. I also know some people who might be able to help you find funding now. If you're interested, e-mail me at rebecca_acosta23@yahoo.com

Jul 28, 2010

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