The Financial Services Commission of Ontario (FSCO) has issued a warning to consumers and industry professionals that “Norton Capital Lending” is not licensed to issue loans in Ontario.
“This company has advertised personal loans on its website, www.nortoncapitallendingontario.com,” FSCO’s warning states. “Consumers who contact the company are asked to fill out an initial set of documents and to wire funds to the company to secure the loan. Consumers have reported wiring funds to the company, at which point the company stops communicating with the consumer and the loan is never deposited.”
At press time, the website is no longer operational.
According to FSCO, “The company claims to offer ‘quick and easy’ online applications and a fast approval process. The company advertises mostly personal loans, pay day loans, renovation loans on homes, car loans and family vacation loans.”
It also claims to accept all types of credit cards and “appears to target consumers with poor credit,” according to the commission.
“Norton Capital Lending” operates out of 16600 Bayview Avenue in Newmarket, Ontario.
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