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Warning Notice - Unlicensed Loan Corporation

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SOURCE Financial Services Commission of Ontario

"Norton Capital Lending" is not licensed to operate as a loan corporation in Ontario

TORONTO, May 13, 2014 /CNW/ - ?The Financial Services Commission of Ontario (FSCO) is warning consumers that "Norton Capital Lending" is not licensed to operate as a loan corporation in Ontario.

This company has advertised personal loans on its website, www.nortoncaptiallendingontario.com. 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.

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.

The company claims to accept all types of credit, and appears to target consumers with poor credit.

Along with its website, Norton Capital Lending has also listed a telephone number, 1-800-569-8802, and an address:

16600 Bayview Avenue,
Newmarket, Ontario

Consumers should exercise caution if they are contacted by anyone matching this description.

If consumers arrange loans from agents or companies that are not licensed in the province, they are not protected under the Loan and Trust Corporations Act and the regulations that govern Ontario's licensed loan and trust companies and agents.

FSCO's website contains a list of all loan and trust companies licensed to do business in Ontario.

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