Illinois Department of Financial & Professional Regulation Illinois Department of Financial & Professional Regulation
Mario Treto, Jr., Acting Secretary  
JB Pritzker, Governor
www.idfpr.comAgency Quick Links
IDFPR Home Page
Information About
Non-banking Financial Institutions
Professional Regulation
Real Estate
Contact Information
General FAQs
Borrowers Beware:
Protect Yourself from Internet Loan Abuse

More and more, consumers are turning to the internet to obtain loans.  Borrowing money via the internet, while convenient, can also be extremely hazardous.  Below are some tips to help protect yourself from becoming a victim of a predatory internet lender.

  1. Check to see whether the lender is licensed in the State of Illinois.  Click here to access the state’s database of licensed lenders.  Below is a current list of unlicensed lenders that have made or are making loans to Illinois consumers.  Unlicensed internet lenders, which are often located out of state or out of the country, are particularly difficult for us to track down and stop.  You, the consumer, are best equipped to protect yourself from falling prey to an unlicensed internet lender.  Click here to read about our efforts to shut down an unlicensed internet lender doing business as
  2. Make sure you understand and agree to all the loan terms, especially the interest rate and fees, before faxing any signed documents to the lender or before typing in your “electronic signature.”
  3. Print out and retain your loan contract and any other documents that you have “signed.”  Also, print out the name and mailing address of the lender.  Without this documentation, it will be extremely difficult, if not impossible, to go after the lender in the event of fraud or if you are overcharged.

Finally, never pay the lender money before you get your loan.  This is a scam.  You will not receive any money

If you have any questions or want to report an unlicensed internet lender, please contact the Division of Financial Institutions at 888-298-8089.

Unlicensed Internet Lenders

The following companies and websites have offered or are offering loans to Illinois residents.  We strongly advise you not to obtain a loan from any of these companies.  Unlicensed internet lenders frequently charge interest and fees above what is allowed under Illinois law.  Also, if you are defrauded by an internet lender, it may be extremely difficult and time consuming, and perhaps impossible, for you to recover your losses.  This is particularly true if the company is based outside the United States.

Companies Outside the U.S. (Malta) Northway Financial Corporation Limited (Malta)
Sonic (Ireland) Northway Broker Limited (Malta) (Canada) DMS Marketing, Inc. (Canada)

Companies Outside Illinois
Zipcash-SFT National Opportunities Unlimited, Inc.
Starlight Financial, LLC
Westbury Ventures Loyalty Financial Solutions

Companies with False Mailing Addresses in Illinois (actual whereabouts unknown)
Pro-Team Financial

New Web Site:

External Links
State Features
Office of the Governor
Illinois Business Portal
Illinois Veterans Care
Get Covered Illinois