We were told that the Mop Fund was an organization which would and could write grants and was itself a lending organization. We have invested over $ 20,000 and have it seems only got the run around. This is supposed to be affiliated with the Little Italy Foundation and no validation of this company can be established. We were assured that a $2,000,000 loan would be done and it was out in a public notice over a year ago. We have since not gotten anything but what seems to be a series of demands for information which has been furnished previously. Would greatly appreciate appreciate any feedback.
It does sound as if you’ve been scammed. Contact your local BBB and report it — they’ll take all your particulars and if they think it’s truly a scam, will be able to tell you what to do next. There may be legal recourse for you, but of course you’ll need to fully document the whole thing.
why would you have had to INVEST anything in order to get a loan from a legitimate source?
unless you :
1- met a representative of this company IN PERSON
2-gave them personal financial statements and a business plan
3-HAD $2 million in collateral
4-they did a credit check on everyone involved
you never had ANY chance of getting a loan that large