SCAM: Promised Follow-On Business Funding — Instead, My Business Lost $6000
The company is a scam. I strongly caution small business owners considering financing through Aero Funding Group.
I own a veteran-owned construction company and was approached by Aero Funding Group as a means to provide business capital.
I received a formal financing term sheet promising follow-on funding after completing a business trade line. However, after a $2,500 deposit and a subsequent $8500 ACH debit, my business was left with a net loss and no follow-on funding. The anticipated additional financing never materialized.
The documentation and initial funding activity gave the appearance of a credible financing arrangement, but the follow-on term loan never happened. Additionally, the company refused to return the funds that I paid to secure the loan.
This is apparently a common scam where brokers arrange a "trade line" to boost a small business' Dun & Bradstreet number with a promise of a follow-on term loan with reasonable rates.
I foolishly fell for the scam, but hope my warning reaches other, hardworking small business owners.