Jeremy Lea
Reviewer
0 helpful votes
Sold on Same-as-Cash. Stuck With 25.99% Interest. Feels like Bait & Switch.
We’re changing our original 5-star review to 1 star. The frustrating part? We actually like BLB. The training has value, the community is good, and the people we’ve dealt with have been decent. This review is about one thing: the financing. My business partner and I enrolled together. Same sales calls. Same process. Same decision. We both came away believing we were getting 12-month same-as-cash financing. That was a big reason we felt comfortable moving forward. I recently spoke with the original sales rep again and learned something neither of us understood when we enrolled: Same-as-cash was apparently only available through one lender — SFC. That isn’t the financing we received. We ended up with a $5,500 DR Bank loan through FanBasis, serviced by ClarityPay: 25.99% fixed interest 31.53% APR Interest accruing from the day it funded $1,885.78 in scheduled finance charges $7,385.78 total scheduled payments Think about that. Almost $1,900 in financing costs on a $5,500 purchase. Now the part where we take responsibility: We signed it. We should have caught it. That part is on us. We should have stopped and asked, “Wait — is this still the 12-month same-as-cash financing we talked about?” We didn’t. But neither of us remembers being clearly told that BLB used multiple lenders, that same-as-cash only applied to SFC, or that the financing we were actually signing would start charging 25.99% interest immediately. One sentence would have changed everything: “Same-as-cash is only through SFC. This DR Bank loan starts charging 25.99% interest from day one.” Had we heard that, we would not have taken the loan. That’s the entire issue. Call it whatever you want. From our side, it feels like a bait-and-switch: we believed we were getting one type of financing and walked away with something dramatically more expensive. We tried resolving it privately before changing this review. On July 30, I asked BLB management to review the recorded sales and enrollment calls and show us where the SFC-only limitation was explained. Support said Operations would look into it “right away.” Then nothing. I followed up on August 4 and again on August 7. As of August 10, we still have no substantive answer from management about the financing. And here's the thing: BLB recorded the calls. This doesn’t have to be our memory against theirs. Pull the recordings. Listen to what was explained. Then deal with it fairly. That’s why this is now 1 star. If you’re considering BLB and need financing, learn from our mistake. Do not assume the financing discussed on the sales call is the financing you’re actually signing. Ask: Which lender is this? When does interest start? What’s the APR? What’s the finance charge? What will I repay in total? And if same-as-cash was discussed, ask this before signing anything: “Is THIS the SFC 12-month same-as-cash financing we talked about?” We don't think BLB is a bad program. That's what makes this so disappointing. We didn’t buy a course and simply change our minds. We believed we were getting one type of financing and ended up with a 25.99% loan accruing interest from day one. BLB has the recordings. We've asked them to review them and make this right. Leaving us stuck with this loan isn't a fair resolution. If BLB reviews what happened and resolves it fairly, we’ll absolutely update this review to say so.
