Can your bank deny you a loan because you run porn?
 

I have been with my bank for 15 years, I have excellent credit and they have an offer for a line of credit for me as they have for every year. This year I am applying for it.

They asked me what type of business, in which I replied sales/marketing. He called me back to ask for some paperwork and then again asked what I do, again I told him sales and marketing, waiting for him to ask what I sell, but he didn't. I am sure a few times I have mentioned to my banker what type of business it is, and I feel like it may be noted on my account.

Can they deny me simply because of my type of business? Is this discrimination? They process my money through their bank and have for 15 years without any issues.

yes they can and many will :2 cents::2 cents::2 cents:

That definitely sucks. Well hopefully my sexy voice will dissuade him from pressing the issue.

He's probably looking up my business name right now finding all my dirty sites. BOOO.

They can terminate you account completely if they want to and you can't do anything about it.

Don't fuck with the bank.
Make all your company names sound mainstream.

My company name does sound mainstream. I think it wouldn't be in their best interest to terminate my account.

But that would definitely suck.

I second that. If you are with Chase, consider setting something else up ASAP. They have closed checking and savings accounts on retired performers just for having that history.

B of A is not super friendly but they haven't given me any shit. They did tell me they don't do lines of credit for adult businesses though.

Wells Fargo is known to not give a rat's ass what you do. So I would go with them if you can and are worried about nasty surprises. I would but they don't do online international wire transfers, which is pretty critical for my business model, I can't be running down to the branch and waiting in line and filling out paper forms every couple of days.

Wells Fargo is who I am with!!! WOOT WOOT!

Prolly Yes? its their own decision to approve or deny your requests.

our banks always knew what we did and even leased us equipment and a van.

plus business and personal loans

but over here people also see this biz more relaxed

PNC doesn't seem to care about it either, but everyone in this biz should have a mainstream sounding name for their holding company to avoid issues.

yeah, well, when someone calls his/her company "Loose Vagina LTD" he/she deserves what's coming :1orglaugh

I guess we'll see by Monday. I tried to flatter him a little bit and tell him how impressed I was at how quickly he was getting things moving. Told him because of this service is exactly why I called the branch and didn't apply online. *crosses fingers* let's hope it works!

But everything else is solid, so there is no other reason I would be denied.

Download any HTML5 marketing online related template from google. Get a boring domain mainstream biz related, them just put your name there. If they ask, show them that. Just write 'online marketing & SEO and outsourcing service, etc' , nobody will ask you more than this.

Can they? No, "They will." As in it is certain.

I was kicked out from Bank Boston back in 2004 when they realized I do Porn

Great advice. Just find a mainstream site that does marketing and look at them to get an idea of the buzzwords they use. Use that to make a simple website that is ubiquitous and covers everything.
"We specialize in Web and Mobile Marketing Services such as Search Engine Optimization, Mobile Marketing, Local Maps Marketing, E-Newsletter & Email Marketing, Full Service Marketing, and Online Reputation Management & Marketing.

Our diverse team includes accomplished and experienced entrepreneurs, lead generation specialists, Google Certified consultants, agents, executives and creative professionals, each with a record of success and achievement."

No need to post a phone or address. People wont question it

You should not only make all your biz sound mainstream, you should even run a fake website.

And then the bank employee sees the weekly +/- $200 CCBill wire payments... :error:helpme

and whats more fucked up with this, is when I was dealing with LFP and VIVID, they bank with BOA, and WELLS, and they would deny accounts based on Adult Content , but then you get the regional director on the phone, and say, does 80% of your deposits come from these companies in your region...

They still will deny you..

I don't use a third party processor so in my case it just comes directly from merchant account.

Doing business in less religious country could be answer as well. I wouldn't try my luck for example in the ISIS region, no matter what would be the name for my holding company.

no kidding, you can bullshit them all you want, but it takes whole 2 mins to find copies of the checks/wires you deposited in the past month and perform quick google search to see what's up...

he's getting a loan not applying for an account

their risk assessment deems porn to be high risk.

Nevermind... people don't get what i meant... nevermind...

I got what you meant that's why I said it doesn't apply to me. I get nothing from anyone other than credit card companies.

Actually it's not a loan, it's a business line of credit (my bad), so I assume they can decide not to fund my type of business if I was more in depth with them. I have never not told the truth about my business in setting up accounts or tax ID etc.

I think if it were a personal loan, then I don't see how it's their business how I pay them back as long as I do. Like they shouldn't be able to deny me a personal loan because I'm a stripper as long as I can prove steady income via taxes or paystub.

Be careful, pretending to be a women on gfy is probably a lot easier online than it is in person :1orglaugh

I would imagine it is there smarty pants. Good thing there isn't any pretend about me.

YES!!! and have denied me personally because of it.
I don't tell them shit anymore.

That's not what i meant... but... Like i said... nevermind...
:)

Years ago, they completely shut my accounts down.

yea they like to do that.. then they hold all your funds for 30 days, and say they will send out a check to you.

aww. that sucks :firehair

:1orglaugh:1orglaugh:1orglaugh

Nobody being smart enough to get it kind of proves your point.

FOR THE SLOW:

You can build a site making you appear like a Fortune 500, but your bank will quickly find out when your broke ass company is only running $200/wk through a single account.

I've never had a problem, but I have never told a bank I ran porn. I always bullshitted what I did and it worked.

i tell them , i work with google and google pays me.
(adsense does).

so no more question.

Errr try your luck? You'd lose your account straight away, then probably your head.

I actually am sick of banking anywhere these days. The amount of DD they throw at you just because you have an unconventional profile is absolutely pathetic. In many cases, these institutions need more clients and they're turning them away flat.

I had an argument with a bank manager just the other day who thought I was a risk because I'm well informed about banking regulations (which made me different to other customers)..... needless to say they found a stupid arbitrary reason to turn my application down.

a bank just canceled my account for being in adult... no bounced checks, no over drawn accounts... no issues at all just running 1/2 mil plus though the accounts every year....been with the bank way over 20 years :2 cents:

We have a correct answer
:1orglaugh :thumbsup

Then I didn't get it exactly and perhaps I'm a little slow, but again it doesn't apply to me. If I were running only $200.00 a week through an account I might as well just go work at the closest fast food restaurant.

I have 6 people to support! lol

how about 'adult talent management los angeles'? pretty sure sending money to that account is what got me dumped :2 cents:

Wow! That's crazy. Did they give you a reason? Since about 2008 I had been running 5-800k this past year was over a a mil. and I expect to reach 1.2 - 1.4 this year. I thought running a high amount would make them think twice but apparently that's not true in your case.

I would shit if that happened. Seriously. :Oh crap:Oh crap

Yes I have a very plain name. Most places think I do graphic design work. which I DO!

My main job IS sales/marketing but my product/service (which they didn't ask) is xxx.

When you opened your account, didn't you have the same name? It took them 20 years to cancel it?

for sure not helpful either

our company name is also very plain but since we need to publish it for 2257, it would take only 30 secs to find out for every bank employee - including our personal names

but like i said - our bank knows anyways - and so does the tax office

Crazy thread, I had no idea bankers in the US had any morals.

I guess I'll find out Monday. :upsidedow

it was paying the models and the agencies that got me busted ... the bank just followed the trial back to me :2 cents:

banks have an insane power