Anyone know of Allison Capital

Most Popular Reply

Edwin Epperson
Lender · Tampa, FL · Member since 2020 · 202 posts · 116 votes
4y

@John S Lewis, it's good you're asking questions.  If they are holding themselves out to be a "lender" and they are in the business of making loans, then you need to check with NJ laws to determine if a license is required in the state of NJ.  There are several states that require a license to originate (make or create a loan) and there are many others which do not.  If NJ does require a license but they are stating they can make loans in the following states; Arizona, California, Nevada, North Dakota, South Dakota, Vermont then you should still request their NMLS #.  Why? Because if they are advertising to be able to make loans in those states and don't have a lic. then they are willing to break the law and you should not be OK with working with a lender who is OK with this.

Second thing you can do is search the state where they are incorporated to see if they actually have a business registered in the state.  Also get someone on the phone.  Speaking with someone will help you sort through the yellow and red flags.  Best wishes and if anything you could always use a lender from here on BP.

2Reply
See this reply in the discussion

12 Replies

Jump to latestLatest
  • Account Closed
    Denver, CO · Member since 2018 · 133 posts · 97 votes
    4y

    I have not heard of them. Can you share a link to their website or BiggerPockets account?

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y
    Quote from @John S Lewis:

    Has anyone heard of these people or done business with them?  Looking for reviews.  Thank you.


     Also never heard of them - what do they do?

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • John S LewisPro Member
    OP
    Jackson, NJ · Member since 2017 · 167 posts · 48 votes
    4y

    https://www.acbizfunding.com/

    They appear to be a lender in the RE space.

    1Reply
  • Edwin Epperson
    Lender · Tampa, FL · Member since 2020 · 202 posts · 116 votes
    4y

    @John S Lewis, it's good you're asking questions.  If they are holding themselves out to be a "lender" and they are in the business of making loans, then you need to check with NJ laws to determine if a license is required in the state of NJ.  There are several states that require a license to originate (make or create a loan) and there are many others which do not.  If NJ does require a license but they are stating they can make loans in the following states; Arizona, California, Nevada, North Dakota, South Dakota, Vermont then you should still request their NMLS #.  Why? Because if they are advertising to be able to make loans in those states and don't have a lic. then they are willing to break the law and you should not be OK with working with a lender who is OK with this.

    Second thing you can do is search the state where they are incorporated to see if they actually have a business registered in the state.  Also get someone on the phone.  Speaking with someone will help you sort through the yellow and red flags.  Best wishes and if anything you could always use a lender from here on BP.

    2Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1y
      Quote from @Edwin Epperson:

      @John S Lewis, it's good you're asking questions.  If they are holding themselves out to be a "lender" and they are in the business of making loans, then you need to check with NJ laws to determine if a license is required in the state of NJ.  There are several states that require a license to originate (make or create a loan) and there are many others which do not.  If NJ does require a license but they are stating they can make loans in the following states; Arizona, California, Nevada, North Dakota, South Dakota, Vermont then you should still request their NMLS #.  Why? Because if they are advertising to be able to make loans in those states and don't have a lic. then they are willing to break the law and you should not be OK with working with a lender who is OK with this.

      Second thing you can do is search the state where they are incorporated to see if they actually have a business registered in the state.  Also get someone on the phone.  Speaking with someone will help you sort through the yellow and red flags.  Best wishes and if anything you could always use a lender from here on BP.


      U can add Oregon to the list of licenses required. :)
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      0Reply
  • Steve Williams
    Member since 2022 · 2 posts · 0 votes
    3y

    @John S Lewis did you end up doing business with them guys, or finding out anything more about them? 

    0Reply
  • John S LewisPro Member
    OP
    Jackson, NJ · Member since 2017 · 167 posts · 48 votes
    3y

    No. 

    1Reply
  • Amy M kirkland
    Member since 2021 · 1 post · 0 votes
    3y

    Did anyone ever find out anything about Allison Capital? John Lewis, why did you decide not to use them?

    0Reply
  • Cooper Ledford
    Member since 2022 · 2 posts · 2 votes
    3y

    I'm not sure how they are with lending, but overall seems a bit sketchy. I sat in on a call to see about working for the company, and in order to "work" for them you had to pay a monthly fee. 

    1Reply
  • Julie Kiler
    Member since 2024 · 3 posts · 0 votes
    1y

    Red flag. They don't have a website, a NMLS license number, but a DRE #, and are offering $200,000 with 18 months at 0%.

    0Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1y
      Quote from @Julie Kiler:

      Red flag. They don't have a website, a NMLS license number, but a DRE #, and are offering $200,000 with 18 months at 0%.


      LOL  the only way they are doing that is finding some zero interest credit cards.. but usually those dont go 18 months.. sounds like a scheme to me.
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      1Reply
  • Julie Kiler
    Member since 2024 · 3 posts · 0 votes
    1y

    Or their website is not working:

    https://www.acbizfunding.com/

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free