Forward Line? Anyone heard of this company?

[ansky0007]

Received a mailing today with a "Congratulations on Your Pre-Approved Platinum Business Account!".... Blah Blah activate your line by calling or going online to www.forwardline.com/activate

 

I think its one of those scams that change your merchant account to their company and they loan you money but take a percentage of your settlements to pay back the loan. Anyone else get one of these in the mail?

[molly73]

i think they are a merchant advance company...they will take a % of future sales.....but did not know they offered a CC...i thought they just offered merchant cash advances....and yes..usually they want you to switch processors

[ForwardLine]

Received a mailing today with a "Congratulations on Your Pre-Approved Platinum Business Account!".... Blah Blah activate your line by calling or going online to www.forwardline.com/activate

 

I think its one of those scams that change your merchant account to their company and they loan you money but take a percentage of your settlements to pay back the loan. Anyone else get one of these in the mail?

 

 

It sounds like you received one of ForwardLine’s Pre-Approved Platinum Account offers. We can assure you that this is not a “scam†but rather a legitimate offer for business financing. ForwardLine does indeed provide merchant loans (or merchant cash advances) to small businesses based on a qualifying merchant’s monthly credit card sales. If this sounds like something your business could use, please contact us and we’d be happy to assist you. Otherwise, we wish you the best of luck and much success.

 

Regards,

 

Thomas Bonneau

Marketing Director

ForwardLine Financial

[JackReykman]

Today I received an envelope in the mail from Forward Line with a plastic card looking very much like a credit card. In fact, it even had the wording of the mailings when you get a real credit card, with directions to activiate the card by calling an 800/888 number or going to a website site ending with the word activate such as www.forwardline.com/activate

 

The card, visually, is designed to look like a credit card. It is decptive. The naive person might call to activiate this without realizing that it is not a credit card and its use will tie you into high percentage rate loans with none of the benefits of a credit card. It is sent out unsolicited and even if ForwardLine is not doing anything illegal, it is cleverly designed to deceive people.

 

I admire Thomas Bonneau for responding to a complaint in 2010. He no longer works for Forward Line. https://www.linkedin.com/in/tombonneau/

While I also admire his marketing skills and the trajectory of his career, ForwardLine, after his departure, is still engaging in shady marketing practices.

(This is in no way a criticism of a man who left the company years ago. It is a criticism of the company he left.)

 

ForwardLine Forward Line engages in deceptive marketing practices, in my opinion, because they do not make it clear that they are offering a high % business loan and not a credit card, and because their mailing makes it look like it is a credit card being received.

 

While I may feel that deceptive marketing techniques are unethical, that doesn't mean they are illegal even if I wish they are illegal.

 

My suggestion is to not call to activiate what you get from ForwardLine, and that if you get material from them, you shred it right a way or call your state AG and complain.

[ForwardLine]

Today I received an envelope in the mail from Forward Line with a plastic card looking very much like a credit card. In fact, it even had the wording of the mailings when you get a real credit card, with directions to activiate the card by calling an 800/888 number or going to a website site ending with the word activate such as www.forwardline.com/activate

 

The card, visually, is designed to look like a credit card. It is decptive. The naive person might call to activiate this without realizing that it is not a credit card and its use will tie you into high percentage rate loans with none of the benefits of a credit card. It is sent out unsolicited and even if ForwardLine is not doing anything illegal, it is cleverly designed to deceive people.

 

I admire Thomas Bonneau for responding to a complaint in 2010. He no longer works for Forward Line. https://www.linkedin.com/in/tombonneau/

While I also admire his marketing skills and the trajectory of his career, ForwardLine, after his departure, is still engaging in shady marketing practices.

(This is in no way a criticism of a man who left the company years ago. It is a criticism of the company he left.)

 

ForwardLine Forward Line engages in deceptive marketing practices, in my opinion, because they do not make it clear that they are offering a high % business loan and not a credit card, and because their mailing makes it look like it is a credit card being received.

 

While I may feel that deceptive marketing techniques are unethical, that doesn't mean they are illegal even if I wish they are illegal.

 

My suggestion is to not call to activiate what you get from ForwardLine, and that if you get material from them, you shred it right a way or call your state AG and complain.

 

Mr. Reykman,

 

We apologize that our mailing has caused you concern.

 

Your business received ForwardLine’s business platinum account mailer based on qualifying information about your business provided to us by one or more of the major business credit bureaus. This was an offer for a business loan, not a credit card. In order to make a final offer of credit, ForwardLine requires completion of an application, as well as submission of additional information regarding an applicant's business. Furthermore, any merchant applying for a ForwardLine loan would receive significant information regarding the terms and conditions of the financing for which it is applying. We are regretful that you were concerned by the receipt of our direct mail marketing piece. However, ForwardLine has been in business for over 13 years and highly values its excellent reputation for reliable, honest, and accessible small business financing. We have loaned millions of dollars to small businesses nationwide for over 13 years. We have not engaged in any of the conduct suggested in your post, and our commitment to customer service and transparency has resulted in an A+ rating with the Better Business Bureau. If you have any additional questions or concerns regarding ForwardLine or its products, do not hesitate to contact us by email at info@forwardline.com or by phone 866-623-4900.

 

Thank you,

 

ForwardLine

[Astro2004]

We went through the process with this company. What they offered us was not a merchant loan. However, it was too high in repayment.

 

Loan amount was 15K

 

Monthly Payment was "$1600 to $1900" for 12 months. At minimum, it's $4,200 in interest. At most, $7,800. Divide that by 12. We could not justify that. They may give you a better deal... but it wasn't for us.

[BRBiz]

We went through the process with this company. What they offered us was not a merchant loan. However, it was too high in repayment.

 

Loan amount was 15K

 

Monthly Payment was "$1600 to $1900" for 12 months. At minimum, it's $4,200 in interest. At most, $7,800. Divide that by 12. We could not justify that. They may give you a better deal... but it wasn't for us.

That is pretty typical for those types of companies.