Loans
TDB Loans CanadaAbout
Important information
- Additional Info:The BBB has had no complaints on this company to date, but we developed this review based on inquiries. Consumers allege that TDB Loans charges an advance fee for loans.
In the province of Ontario, it is illegal for a company to request an advance fee for a loan. All costs, including insurance, legal and administrative fees, are to be built into the loan repayment agreement.
The Government of Ontario requires every company operating in Ontario to be registered - this company is not registered with the Government of Ontario.
Loan companies conducting business operations in the Province of Ontario are licensed by the Financial Securities Commission of Ontario (FSCO). TDB Loans is not a licensed lender.
TDB Loans is also not registered with the Ont. Ministry of Consumer Services as a loan broker, or as a payday loan lender.
The address TDB Loans shows on their website (1463 Fairburn Street in Sudbury) is a used car lot. The car dealership at this location has confirmed that they have never heard of TDB Loans.
The phone numbers for this company has been disconnected.
TDB Loans' website states that they operate in all Canadian provinces, however, no other Canadian BBB has a review for this company.
The website domain name for TDB Loans is registered to an individual in Sarnia, Ont. There is a phone number on the domain name registration, but the individual who answers it claims not to have knowledge of the website or TDB Loans Canada.
Consumers who do apply online for a loan should make sure the application form is encrypted. If the form is not secure, consumers could be subject to identity theft, and have their bank accounts compromised. It does not appear that the application form on the TDB Loans' website is encrypted or secure.
If a local financial institution is reluctant to provide a loan, consumers should wonder why a company in another locale would be willing to do so?
About This Business
Products and Services
Years in Business: 24
Business Details
- Local BBB:
- Better Business Bureau of Greater Ottawa
- BBB File Opened:
- 15/8/2016
- Business Started:
- 22/11/2000
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