Small Business Funding Offer

Artifex
Artifex Posts: 1 Newbie
edited 2 August 2017 at 8:47PM in Small biz MoneySaving
I run my own small Carpentry/Joinery business. Ive recently decided to set myself a workshop in order to start producing fitted furniture. Maybe employ another person to help with production and diversify into a different area.

Over the next 18 months I plan on investing around 9/10K of my own money on various different machines. Im not one for loans so Im fully prepared to save and buy them as and when.

Last week, out of the blue I was contacted by a company called Business Grants & Funding acting on behalf of Tenterden Funding PLC. With the aim of giving small businesses like myself funding in order to expand my business and thus stimulating the economy.

They claim they are government funded and wont be asking for any fee from me, and that the total received is 100% non-repayable. To cut a long story short, they have offered to give me 70% of my 9K if I put up the other 30%. That 70% will be added to a credit card where I will then have to deposit my 30% in order to get access to the total sum.

Am I being taken for a ride here? Something doesnt feel right :think:

p.s. sorry for the ramble ::D
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Comments

  • phill99
    phill99 Posts: 9,094
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    There are similar schemes going on in my local council area. There is a lot of money around for small business grants as they are seen as the back bone of the economy especially after the cuts in public sector jobs. So that in itself is fairly legit.


    Putting the money on to a CC seems unusual.


    Call your local council and ask to speak to some one in Economic Development and ask about small business grants / funding. The money they offer is very legitimate!!
    Eat vegetables and fear no creditors, rather than eat duck and hide.
  • SummerFun
    SummerFun Posts: 103 Forumite
    Artifex wrote: »
    I run my own small Carpentry/Joinery business. Ive recently decided to set myself a workshop in order to start producing fitted furniture. Maybe employ another person to help with production and diversify into a different area.

    Over the next 18 months I plan on investing around 9/10K of my own money on various different machines. Im not one for loans so Im fully prepared to save and buy them as and when.

    Last week, out of the blue I was contacted by a company called Business Grants & Funding acting on behalf of Tenterden Funding PLC. With the aim of giving small businesses like myself funding in order to expand my business and thus stimulating the economy.

    They claim they are government funded and wont be asking for any fee from me, and that the total received is 100% non-repayable. To cut a long story short, they have offered to give me 70% of my 9K if I put up the other 30%. That 70% will be added to a credit card where I will then have to deposit my 30% in order to get access to the total sum.

    Am I being taken for a ride here? Something doesnt feel right :think:

    p.s. sorry for the ramble ::D

    Who's name is the credit card in, remembering you state you are "not one for loans"? :cool:

    If the credit card is not in your name, how will you access the funds??? :huh:
    What guarantee is there they will not run off with the 30% you deposit onto their credit card??? :eek:
  • paddyrg
    paddyrg Posts: 13,543 Forumite
    There is a class of scam that looks exactly like this - the 'safe' account/escrow your money goes into is owned/controlled by the scammer who suddenly vanishes. I've even seen whole offshore banks created just for this crime (NZ has a quirk in its banking code allowing private banks that refuse Kiwi business).

    Not saying your lot are crooks, but the duck test may tell you whether you trust some random, out of the blue person offering you money in return for blind trust. At least they're not pretending to be princes.
  • I'm been made the same offer and apparently accepted for the grant.

    The process has taken a few weeks and now they are at the stage of sending me documents to sign before setting me up a MasterCard business card to which they will deposit the grant money and I add my 30%.

    Did you go ahead with the grant or is this a scam?

    Tenterdenfundingplc.co.uk is the web address and offices in London. Telephone numbers are contactable. All seems to check out as being ok but I'm not sure.

    Anyone else any thoughts?
  • ciderboy2009
    ciderboy2009 Posts: 1,147
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    edited 9 August 2017 at 1:27PM
    Tenterdenfundingplc.co.uk - website registered on 21 May 2017 & registered to a uk individual called Susan Abrahams.
    I've reported it to Nominet as incorrectly using the UK Individual status for the registration (it allows them to hide their actual address).

    No phone numbers listed under contacts.

    In my humble opinion - it smells like a scam.
  • MikeL44
    MikeL44 Posts: 1 Newbie
    edited 9 August 2017 at 4:35PM
    Hello, I work for a business organisation and I can assure you that the process for applying for any form of government funding is rarely as simple as filling out an online form and sending your share of the match funding to a preloaded MasterCard. This is a scam, please don't fall for it.

    As a new user I'm not allowed to post links, but if you don't believe me, I have done a little research and the tenterdenfundingplc.co.uk site is a complete rip off of a US genuine recruitment agency called hirelevel.com. Have a look at the Contacts page on both sites and spot the difference!
  • Thanks, will politely tell them where to stick it.
  • motorguy
    motorguy Posts: 22,452
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    I'm been made the same offer and apparently accepted for the grant.

    The process has taken a few weeks and now they are at the stage of sending me documents to sign before setting me up a MasterCard business card to which they will deposit the grant money and I add my 30%.

    Did you go ahead with the grant or is this a scam?

    Tenterdenfundingplc.co.uk is the web address and offices in London. Telephone numbers are contactable. All seems to check out as being ok but I'm not sure.

    Anyone else any thoughts?

    I suspect the reality will be at the last minute you have to deposit your 30% before they are due to deposit their 70%

    Does seem like a scam though....

    https://pioneers.virginmedia.com/t5/Get-connected/Beware-of-quot-Government-Funding-quot-Grant-Scams-They-Nearly/td-p/8132/page/3
  • kgb26
    kgb26 Posts: 13 Forumite
    Nearly fell for this, luckily I am an FSB member and went to check with them first before depositing any cash. Believable, Scary and incredibly slick , genuine looking Mastercard Site too. Horrible, Horrible crime for people trying to run their own businesses.
  • DCFC79
    DCFC79 Posts: 40,598
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    kgb26 wrote: »
    Nearly fell for this, luckily I am an FSB member and went to check with them first before depositing any cash. Believable, Scary and incredibly slick , genuine looking Mastercard Site too. Horrible, Horrible crime for people trying to run their own businesses.

    FSB the Security Service of the Russian Federation.

    Lol yes I know what the FSB is, federation of small businesses.
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