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Concrete Lending, LLC. Very, Very Odd.

I recently received an email from someone that identifies himself as Jeremy Pike, CEO of Concrete Lending, LLC in Naperville, IL. This could be a legitimate business but it sure has all the warning signs and red flags of something to avoid.

This Pony Bites
Photo: Katie Blench

Here is the email he sent.

Thanks for your response to my personal loan ad. I apologize about the delay getting back to you, my wife and I had an urgent family matter we had to leave town immediately and tend to.

Anyway, my name is Jeremy Pike, CEO of Concrete Lending LLC and I would love to help you solve any debt or money problems you might have and assist you with getting on track with whatever needs you might have. Please read the information below in it’s entirety – This email should answer any questions you might have about our lending process. You may also visit our website at www.concrete-lending.com for additional info on lending. If this is something that still interests you please reply back to get started.

First thing you need to know – We are US based and I do not require any money or fees paid upfront for loans, and there are no fees during the loan aside from monthly payments plus interest. Any “company” that asks for money or personal information upfront before even starting the loan is not legit! With our loan program there will be no processing fees, no application fees, no transfer fees, etc, only your monthly payment plus interest. We are also 100% licensed and insured for all loans given in the US. Also, we require NO collateral on loans.

So, how are we able to do what so many others cannot? How do we lend to those with poor credit? We have been in the lending business for 20 years and have been doing personal loans for over 10 years. We are not a bank or a major corporation, rather we are a private lender with private money (personal money). Since we are not a major corporation, we can look at a person’s income, previous borrowing habits, and other details in order to decide if it is an acceptable risk, instead of looking at credit or credit history!

At Concrete Lending we personally strive to be set apart in conduct from other lenders. Unlike most lending institutions, we do not try to keep you in debt. It is our firm belief that the entire credit system is elaborately designed to keep you in debt (Why else would your credit score go down when you completely pay off a debt??) .

As stated in the ad, our personal loans are traditional style loans and are NOT based off your credit score or history. In order to process your application we need a valid picture ID, promissory note, verified proof of income, and a credit report. The picture ID submitted must be a valid government issued ID and not expired. The promissory note we will supply once your application is complete and the loan amount is determined. Proof of income can be in the form of last years taxes/W2, six months of paystubs, or six months of bank statements. As for the credit report, we cannot accept any scanned, printed, or faxed credit reports – we allowed this in the past only to learn that people were forging their report. If still interested, the credit report process will be outlined in the application startup email.

So why do we require a credit report if we don’t base our decision off your credit score? It is simply the easiest way for us to verify a person’s identity and check for a police record. If your credit is poor/low, don’t worry, we can almost always still fund people with very bad credit, we have even funded people with a score of 350 (which is extremely low). The credit report mainly just assures us that borrowers are who they say they are, and that they have no major felonies or anything of the sort on their record.

Once we have all the necessary information from you and are approved, we will send you a FedEx Overnight containing the contract for you to review and sign as well as a promissory note to sign. The overnight package will also contain a return overnight label and an envelope to send everything to us. (cannot accept fax).

What is the time-table? Once we receive all the necessary info from you, usually we will have made an approval decision within 36 hours. Then we will overnight the contract and promissory note to you, which you will sign and overnight back to us. Once we receive the signed contract, we can send the money same day via wire transfer, ACH direct deposit, or overnight check. So all in all, we usually have approved applicants funded within 72-96 hours tops.

Monthly payments? – Our website is currently being configured to allow our borrowers to have the ability to make payments online. Once completed, all borrowers with Concrete Lending will be able to make their monthly payments online via credit/debit card, Paypal, or ACH electronic check. We plan to have it available to all borrowers within the next 2 weeks. Of course, you can always mail your monthly payment as a personal check or money order.

Loan Terms? – Terms vary by individual depending on income and other factors, but our term lengths vary from 12-60 months (we can usually work with your choice of term length) and the maximum we can lend is $10k per individual, or $25k per individual if there is a co-signer, and under special circumstances we have been able to do business loans for up to $75k with a co-applicant. If you would like to apply with a co-applicant/s, it will greatly increase your chances of getting approved, and may raise the amount of money we can lend. Also, there are no early payment or pre-payment penalties for paying off your loan early.

If this is still something that interests you, please email back to get started with the application process.

All the Best,
Jeremy Pike
(630) 492-0214
jpike@concrete-lending.com

Concrete Lending LLC
www.concrete-lending.com
Naperville, IL

Here is what does not make any sense to me, if they keep talking about how lending based on a credit report does not make sense, why do they then require a credit report?

It then struck me that someone desperate enough for a loan, when nobody else would consider you, might actually send the information this company requested.

  1. A valid picture ID
  2. Verified proof of income. Proof of income can be in the form of last years taxes/W2, six months of paystubs, or six months of bank statements.
  3. Credit report

A quick check with the State of Illinois could not find any company registered to do business under the name Concrete Lending, LLC.

The domain name for this company was only just registered on March 18, 2010 and even then, only for a year.

I suspect it’s the number of statements they make on their site that don’t make any sense to me that have my radar up. Statements like:

At Concrete Lending LLC you will not be turned down due to poor credit, negative remarks on your credit, too many credit inquiries, chapter 13, or any other number of confusing reasons a bank may turn you down. Unlike most banks today, we do not want to keep you in debt! – Source

So by making so easy to give anyone that can fog a mirror a loan, how is that keeping them out of debt?

And then there is the fact the site really only has three pages. I find it impossible that they “have been in the lending business for 20 years and have been doing personal loans for over 10 years” and they are “We are also 100% licensed and insured for all loans given in the US.” and yet the site has just three pages and no required discloses or licensing language on it.

Concrete Lending, LLC Web Site

And then there is this. A comment on the web said that previous calls from 630-225-7421 were collection calls and then “I recd requested info regarding a loan from a Jeremy Pike at Concrete Lenders in Naperville ILLinois. This is the number listed for him on the e-mail. Strange.” – Source.

Finally, for a company CEO that claims his company has been in the lending business for 20 years, why is there no record of a Jeremy Pike CEO in the U.S. then? – Source.

I’m not flat out labeling this a scam. I’m just saying that in my opinion this company just does not add up. Use extreme caution before giving this company any personal information or expecting to get a loan.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Daviddelamancha1

    i got a call from that number today but did not answer.  I dont answer to numbers i dont know.  thanks for the info.  I think Lisa Madigan’s office should be alerted to this scam so they can stop this from happening to unsuspecting people. Thanks for taking the time to throw this up on the web, steve.  You’re a gent.
    David

  • Angelo

    oh this is just sad….

  • Steve Rhode

    And that’s exactly what a scammer looks like using a Christian message to rope people in. I’m leaving this up as example of a scam and what to avoid.

  • Fedex

    Hello,

    We are Christian Organization formed to help people in needs of helps,such as financial help.So if you are going through financial difficulty or you are in any financial mess,and you need funds to start up your own business,or you need loan to settle your debt or pay off your bills,start a nice business, or you are finding it hard to obtain capital loan from local banks,contact us today via email trout_moxieloans@gala.net for the bible says””Luke 11:10 Everyone who asks receives; he who seeks finds; and to him who knocks, the door will be opened”.So do not let these opportunity pass you by because Jesus is the same yesterday, today and forever more.Please these is for serious minded and God fearing People.

    You are advise to fill and return the details below..

    Your Name:______________________
    Your Address:____________________
    Your Country:____________________
    Your Occupation:__________________
    Loan Amount Needed:______________
    Loan Duration:____________________
    Monthly Income:__________________
    Cell phone Number:________________
    Have you applied for a loan before: ________________
    If you have applied for a loan before, where you treated honestly? where are the company located?…

    Act fast and get out of financial stress, mess and hardship by contacting Trout Moxie Financial Services Today via Email at: trout_moxieloans@gala.net .You shall be treated with the best of our resources until you get this funds transferred into your account, and your quick and fast respond determines how fast you shall be receiving your loan. Without any delay Apply for your best and easy Loan here with us. Please email to Us on Via

    email: trout_moxieloans@gala.net
    Best Regards
    Mr.Trout Moxie

  • http://pulse.yahoo.com/_6QY6MZ3VUDXOTEWS3OJFRGENMM Fedex

    Hello,

    We are Christian Organization formed to help people in needs of helps,such as financial help.So if you are going through financial difficulty or you are in any financial mess,and you need funds to start up your own business,or you need loan to settle your debt or pay off your bills,start a nice business, or you are finding it hard to obtain capital loan from local banks,contact us today via email trout_moxieloans@gala.net for the bible says””Luke 11:10 Everyone who asks receives; he who seeks finds; and to him who knocks, the door will be opened”.So do not let these opportunity pass you by because Jesus is the same yesterday, today and forever more.Please these is for serious minded and God fearing People.

    You are advise to fill and return the details below..

    Your Name:______________________
    Your Address:____________________
    Your Country:____________________
    Your Occupation:__________________
    Loan Amount Needed:______________
    Loan Duration:____________________
    Monthly Income:__________________
    Cell phone Number:________________
    Have you applied for a loan before: ________________
    If you have applied for a loan before, where you treated honestly? where are the company located?…

    Act fast and get out of financial stress, mess and hardship by contacting Trout Moxie Financial Services Today via Email at: trout_moxieloans@gala.net .You shall be treated with the best of our resources until you get this funds transferred into your account, and your quick and fast respond determines how fast you shall be receiving your loan. Without any delay Apply for your best and easy Loan here with us. Please email to Us on Via

    email: trout_moxieloans@gala.net
    Best Regards
    Mr.Trout Moxie

    • http://GetOutOfDebt.org Steve Rhode

      And that’s exactly what a scammer looks like using a Christian message to rope people in. I’m leaving this up as example of a scam and what to avoid.

    • Angelo

      oh this is just sad….

  • henry

    I need a loan done fast my credit is bad does anyone know of a real lender that does no have upfront fees that has to be paid before they can lend you money I been scam before and nothing upfront I need help finding a loan
    h87410@live.com

  • stacy kelleher

    i found an ad placed on craigs list and i answered it. i got the SAME letter that was posted in this article, and that was 2 months ago. some family emergency huh! i emailed mr pike, to which it took a month to get a response again, which instructed me to go to this site they had to do a credit (id verification only)check. i went to the site and could find nothing to do with this company and was confused. i emailed mr pike 3 more times in reference as to how to proceed to which i never received a response and this was 2 mos ago as well. i recently called the number on the email, about 2 days ago, and the vmail comes on immediately to which it says it is jeremy pike…. and if u are an existing client press 1… otherwise go to the site or email him. well i left a message anyways and have gotten no response. and the site does not exist anymore. so i say its a SCAM…. and beware.

  • mike c

    Well, Mr Pike is now DBA Jeremy Hunt CEO at Granite-lending LLC. A quick Google of that name brings up a company in California. Their web site(granitelending.com) mentions no offices in Naperville,IL. So, if you had doubts this was a scam, maybe this will remove them.

    • http://granitelend.com Amy

      I did not want to be charged $29.99 and more. Jeremy insisted me not to cancel the CC report and insisted that he would refund what ever the credit company charged if denied or approved. The CC report company took $29.99 X 2 (60.00) and on the 15th day Jeremy said I was not approved. Sine then he have not returned any of the 12 emails, and did not refund my money.
      I found out that there is no loan, it appears you were right, clicks to the credit site to earn approx 100, 200 dollars.
      No one I have talked with got loan from Jeremy granite loans, he is quick to return emails prior to credit account opening.

      We went back and forth via emails until the time expired to cancel the CC report and avoid being charged. Day 13, I reminded him to refund ad he promised, but no reply, 18 emails in 3 days, and still no reply from Jeremy Pike, communication stops.
      If he does not refund my promised refunds, I will have no choice but to file complaint reports with ever federal and law enforcement agency, BBB State for deceptive Practices etc.

      • Polar

        Thank you, Amy,
        I just received a reply from Jeremy Hunt, 10 minutes ago.
        In my quick research if found the BBB review of Chicago:
        http://www.bbb.org/chicago/business-reviews/loans/concrete-lending-in-naperville-il-88378658

        it was the next listing down on Google, from where I found this. Now the questions i had could have been answered until i Read of your Troubles.
        I’m Sorry you got taken, but know this, you saved ME from following your path.
        May i suggest you contact the Chicago BBB with all of your info, because he currently has a rating of C-, but they do not have enough information to give a complete report.
        Your information and Documentation will help fill in some of their gaps.

        Again, I’m Sorry for your Loss, but you did Save one person heartache from this outfit.

  • http://www.Credit.com Gerri Detweiler

    Let me guess…you send all this information to the company and then they give you the great news that you have been approved! All you have to do is send them the first three monthly payments upfront, or maybe a “credit insurance fee” or downpayment. (Sure, they said they won’t require money upfront, but they also say they don’t care about your credit but need your credit report.)

    Like you, Steve, I am not saying this company is a scam, but I get more complaints on our forums about advance fee loan scams than any other type of business. And they all seem so convincing. I’ve heard from single moms who have literally lost their rent and grocery money to these scams.

    Private lenders are simply not interested in making high-risk unsecured loans to people off the internet.

    As always, great reporting Steve!
    .-= Gerri Detweiler´s last blog ..GAO Issues Report on Debt Settlement Industry =-.

  • Joe

    Read your artical, and I had the very same thoughts. There was one other question, what is all of Concrete-lending efforts for?, With any product (or scam) there is money to be earned. I did find that they cannot or will not take any “other” credit report, which is a flag, since it is the same report, this opens up a concept. It is very simple to build an web site to promot anything, and as an affiliate direct people to another site and from those clicks, you earn revenue. Some credit sites will pay anywhere from 18 to 32 dollars for anyone who either click or signs up. Now with that example, how many hits from auto responders would Mr. Pike need and then too convert (through required info to the lender) into clicks to the credit site to earn approx 100, 200 dollars or more per day. I personally have reached out to Mr. Pike via phone, email and I would get the same reply asking for my credit info “from the credit reporting company that they have an account with”. They did not respond to any of my questions even when I nicely asked, to speak with a company agent, representative. Steve your artical is very good and please keep up the good job of weeding out – as best as anyone can in this virtual word – the “possible” scams.

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