Has anyone got a loan from "currencyloan"?

Question

Has anyone actually got a loan from CurrencyLoan, I got approved for $3000, but I have to send $100 first. They said it's for collateral....Please help.

Answer 1

Stay away from that.  Why would you give money?  Isn't that the whole reason why you are getting the loan?  Because you don't have enough money?  What is the website?

Do a search on the company and type in 'fraud' or 'reviews'

Answer 2

This is a scam.  This is not how loans work.  

If you go to your local bank and try to get a loan, they may ask for collateral such as the title to your car, your house or ask that you put money in a bank account with them (and then only loan you the same amount of money).  Banks use works like collateral and secured, but when scammers use them it's to confuse you.

You NEVER send in money when getting a loan.  You don't pay fees, insurance, security, collateral or prepay a few months to meet the conditions of the loan.  If money is needed, the lender takes it out of the loan.

Any request for money on Yahoo attracts a dozen scammers.  "Currencyloan" is  one of them.  Each time Yahoo kicks him off, he signs up again and keeps posting.  He uses free email accounts and if those are closed, he gets another one (after all, they are free).  The scammers often have multiple signons--using one to claim to be a former borrower vetting the scammer.

This scam "industry" is running $100,000,000 a year.  The average victim loses $3000, but clearly your scammer is willing to settle for $100.  DON'T GIVE IT TO HIM.

CEASE ALL COMMUNICATIONS NOW.