Anyone done business with Black Onyx Lending?

26 Replies

Hello everyone,

I am a new investor in the Kansas City area.  I am currently working to find the money to fund future deals.  I found a company called Seed Capital and they referred me to Black Onyx Lending to get a line of credit for the business.  Has anyone heard of or more importantly done business with Black Onyx Lending based in Michigan?  Any information you may have would be appreciated.

Thank you.

Ijeoma

as long as you don't pay up front for anything other than an appraisal..

there seems to be some threads lately on vetting lenders... Having been a lender I never really thought of it that way.. As I looked at it the other way I have the money and some one wants to borrow it.  But having talked to a few BP folks about people that contact them from BP promising to do deals for them and then they flake out.. I think this is a ligit question.

First I would check if they have an NMLS license if they do that puts them up a notch to a big notch. Not all states require this mind you but many do.. and I see many non licensed companies advertising they will do fix and flip in Oregon and I know they are not licensed to do so but they still advertise they will lend here.

So licencing... is one.. web site is another if the info current etc.. but if I was looking for money in a certain market I would concentrate on locals... and start there .. you can atleast meet with them.

In the day I was lending I was the largest HML in Mississippi of all places but my offices were in Oregon.. so I can see how someone would wonder what the heck I was doing there.. I got all my business from closing attorney referrals... so you may want to talk to some title companies and closing attornies and ask them who actually closes deals. they don't have to give specfics but they can say if they are doing any volume

I checked out their website, they appear to be a commercial loan broker.  I would agree, with Jay, just make sure there is no money requested up front. 

Thank you both. I appreciate the information you have provided. 

I'm not sure if this post went through already, so it might go twice.  This is a late reply to your question, but I have only yesterday researched this company a little.  Google John Albert Sims (Cascade Township) and you will find all you need to know.  Felonies, scams, jail time, etc.  He is the self-described owner of Black Onyx Lending.

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Yes i would have to agree, Black Onyx is nothing more than a broker and a bad one at that. One major red flag as jay mentioned - if someone asks for upfront fees, " RUN"

Hilarious. The above post saying "Google John Sims" => crook with the following post from Jon Sims acting like its not his company. 

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I have worked with Black Onyx on numerous commercial real estate deals. They are professional, never charge me up front, and are always easy and professional to work with.

BIGGEST SCUM BAGS IN THE ENTIRE WORLD. They are no better than the scam artists in Nigeria. 

I was referred to them and sent them a commercial deal. After a few weeks of back and forth they sent me a term sheet that both my attorney and their so called attorney reviewed and agreed to. Part of the term sheet was a $5,000 due diligence fee to be paid upfront before the loan was funded. I pushed back and we agreed to set a closing date first and get all the documents together and ready for the fund and I would pay the 5k 2 weeks prior to be funding. I did all that and it turns out it was all a lie. A few weeks after the 2nd date given to me about funding, the so called owner John Sims told me it was all a big misunderstanding and the employee was fired for misrepresenting the deal. John later told me lie after lie after lie so that he didn't have to refund the 5k fee. He told me he was getting a $225 million loan that he was going to fund all these deals with. Then sent my deal to hundreds of other brokers trying to find the money to fund my deal. Then he told me he couldn't done and that he was wiring the money back to me. Then he went silent for weeks until I contacted the Attorney Generals office. He was quick to respond to me now and lied for 2 more weeks about sending a refund wire. Long story short, John Sims is a lying, scamming, scumbag. He belongs back in prison where he went a few years ago for more fraud.  

Updated 9 months ago

I am retracting my previous statement. I spoke to Mr. Sims and he assured me he is handling this in the proper manner.

I called all of the references for Black Onyx.  Every reference was solid.  No problems.  This is a legitimate, reputable lending business.

Updated 17 days ago

Please disregard my previous post. As their references are solid, they have not closed any loans that we brought to them. Do not give them money upfront.

I found these references on Yelp:

  • Barbara A.
  • Chicago, IL
  • 0 friends
  • 1 review
5.0 star rating12/6/2016

I have worked with Black Onyx on several lucrative commercial real estate deals. They are professional, timely and had an answer for all of my questions. Very knowledgeable staff and I recommend them to all my colleagues in the business!

  • Miriam M.
  • Bakersfield, CA
  • 0 friends
  • 2 reviews
4.0 star rating12/5/2016

Black Onyx Lending Firm helped me with my start up business financing. In less than 60 days I was open for business!
The professional, knowledgeable staff helped me every step of the way. Thank you!

Please view this page before doing business with Black Onyx whose sole proprietor is John Albert Sims. 

http://mugshots.com/US-Counties/Michigan/Kent-County-MI/John-Albert-Sims.83731019.html

I recently signed a service contract with Black Onyx to fund my project, The project cost was $780K and I paid $5K to black Onyx upfront for the work and all the process costs they said was going to incur to get me the funding. I am now a happy man, these guys deliver and i did not experience what you are talking about being scummed. John sims is such a nice man and he understood exactly what i was looking for. As i speak now my restaurant project is healthy and my business is thriving. Thanks to the Black Onyx Team for making my dreams a reality. These guys will work for you. I encourage you to stop your negativity and work with them,

There is alot required during a loan process and i was very patient and gave them everything they needed from me to get me the money. Guys it was not all rosy, it was hard work on both of us, me the client and then Black Onyx.

I hope this helps you.

Thank you. 

Xavier J.

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