David R.
Spotlight Business Credit and Funding…
Spotlight Business Credit and Funding falls into the category of another waste of time..a scam. a ripoff....Like most of these companies, at the beginning they promise unique results. This company didn't provide the service as advertised, neither the results. There is a this guy they call "Ray" who supposedly is the expert in getting business funding without using one's social security number. Failed, failed failed. Some of the round one lenders require personal credit; they do not tell you this. When certain round one funders do not allow you to buy products without using your personal credit, Spotlight Funding sent a list of round lenders who do supposedly allow you to buy products without using your personal credit. But to date (as following instruction)..there is no paydex score. After couple months they refuse to answer the phone to address your concerns, and sending emails (they claim they will respond in 24 hours) gets absolutely no response. Several times a phone call to them does not get answered. They pay people to give testimonials. Like all time wasters, when things do not go as they say it will, they began to hide and avoid having a discussion. DnB says the only way to to get 80 paydex score is to use their credit builder program. This is probably true. Only pay this company with your credit card. So when they do no perform you can demand your money back. Another waste of time and ripoff!!!
Response from Spotlight Business Credit and FundingMar 21, 2018
Hello David Ray. http://spotlightfunding.com/how-we-do-it/ http://spotlightfunding.com/ Can you please provide your full name, purchase date and name of your business so we can accurately reply to your review. We have no record of a David Ray. Thank you in advance for the information. -Spotlight Management Additionally, we find your review inaccurate. However we are here to help you and anyone interested in your review understand how business credit works. Please see the final paragraph regarding timely payments. A Paydex Score is issued when 3 payments have reported to Dun and Bradstreet. It can be 3 payments on 1 line of credit or 3 separate payments on 3 separate lines of credit. Also, you may find it helpful to know that a paydex score is only a representation of your payment timeliness. If you have an 80 paydex score - it only means that you pay your bills ontime or earlier. If you have an 80 paydex score and only one tradeline reporting, this will not impress lenders but it is a good start. An 80 paydex with 5-7 tradelines reporting is considered great business credit. Spotlight gets your 80 paydex and 10+ tradelines reporting representing perfect credit worthiness and bank ability. Re: The use of your SSN. Many lenders will request your SSN in order to identify you as an owner or officer of a company. If anyone could apply in a company's name, there would be DISGRUNTLED EMPLOYEES, COMPETITORS, AND ANGRY EX'S applying all day. Remember, a business' EIN number is usually on payroll checks. If a lender requires a PERSONAL GUARANTEE (PG) then the lender is saying that your business credit is not strong enough for the approval alone. No lender wants to turn away business so they will always have options other that just a solid "no". If a lender asks for a PG then its a simple decision of Yes or NO and to move onto other lenders. You can always reapply once your busienss credit has improved with other lenders. It is also helpful to remember that when you start building your business' credit, most companies have no credit. So it is very similar to an 18 year old kid, straight out of high school, without any credit. For an 18 year old to expect to purchase a new 100k BMW with no credit is quite out of the question, however you can build your personal credit just like you can build your business credit and accomplish your goals in time. In reply to "they pay people to give testimonials". The reason we have all good, positive reviews is because we are excellent at building business credit. Your statement "DnB says the only way to to get 80 paydex score is to use their credit builder program". This is also inaccurate. Dun and Bradstreet offers "Credit Builder" for $1999 annually. This will get you a paydex score however their credit builder will only allow you to list Trade References. A Trade Reference is a company that DOES NOT AUTOMATICALLY REPORT. This could be a cell phone company or internet payment that does not automatically report. Spotlight uses only lenders that DO AUTOMATICALLY REPORT. There is no reason to pay $1999 annually if you are building credit with companies that automatically report. Lenders are not impressed with your references. They care more about a real line of credit that is paid back within terms and reported automatically. Business credit is essential to the growth and stability of every company. Spotlight Funding has created a fast & simple solution. We build your business credit from the ground up. Starting with the Business Credit Bureaus and matching up lenders as your business credit grows. We have lenders that will give your business credit even though your business has no credit or scores, yet. All of our lenders report to the business credit bureaus building your credit, so once the first lenders report your credit, we immediately move on to other Spotlight preferred lenders. Therefore establishing perfect credit scores and tradelines reporting in your business name. Disclaimer: Any Spotlight Client that pays their new credit “Late”, “Slow” or “Past” the due date of any invoice or revolving credit line will accept the responsibility or consequences of their payment behavior. Lastly, we have some clients that start building their business' credit through Spotlight and are not responsible with their new credit. This is unfortunate but in many cases understandable. However, we also find that many clients that cannot be responsible with their personal credit will end up doing the same with their business' credit. If you are a real client, we are offering to pull your business' credit for free and give you some sound advice to move forward. We sincerely hope this helps you understand some of your inaccuracies. Again, we have no record of you, your purchase or company name, however we have helped thousands of satisfied customers that go through our building process and are willing to help you even though your review is inaccurate and probably due to another experience. Spotlight Management