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03-13-2018, 09:52 AM #24
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Lendistry does NOT charge an 'upfront fee'. After receiving a file and determining they wish to move forward with a term sheet, they request a small fee to do further due diligence. This is very common in the ABL world, except the fees are usually $5000 plus. If the deal closes they credit the $200 from their origination/closing fees.
As other colleagues mentioned: if the client pays that small amount they know they have something real- not a client shopping their numbers. Actually protects advocates as well..
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