[snajieb]

Just recently partnered with them and sent them a file. Then I find out they charge $200 upfront non refundable application fee to the borrower. That made the hair stand up on my head. Charging up front nonrefundable fees has traditionally been one of the quickest ways to unveil a fraudulent lender and also the quickest way to be shut down by bank commissioners. I checked Lendistry's BBB rating and found out its only been listed as A+ since Feb 10, 2018. That's right, its only been there for a month.

Has anyone had an experience with Lenistry? If so please opine.

If you have questions, contact Janet Perez. She will explain lending guidelines and fee structure. Also, RG identified what the potential fees could be surrounding this request. They are a lender and Janet can assist with clarifying their product.

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Janet Perez / VP, Business Development
Janet.perez@lendistry.com / 714.615.3971

Lendistry
Office: 562.242.2993 / Fax: 562.475.4981
lendistry.com

[RichardGerard]

If you have questions, contact Janet Perez. She will explain lending guidelines and fee structure. Also, RG identified what the potential fees could be surrounding this request. They are a lender and Janet can assist with clarifying their product.

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Janet Perez / VP, Business Development
Janet.perez@lendistry.com / 714.615.3971

Lendistry
Office: 562.242.2993 / Fax: 562.475.4981
lendistry.com

Sean, you're a great guy- and we get along. However as relates to this: the folks at Lendistry have demonstrated on a recent deal that they're not sure if they want to lend- or if they would prefer to act as an intermediary. They took 4 weeks to NOT do a deal for 250k over three years- that we are closing for 350k over 10. Their Underwriter was falling all over assets- while not paying attention to 500k in AR, and a client with a NOI of 300k from 2017!!! Not a clue. As for Ms. Perez- she tried to step in and assist- but was far from pleasant. If the SBA is faster than them- I can't fathom a situation where they would be useful- especially if they have a 3 year amortization as opposed to 10!

We have had considerably more success dealing regular banks, ABL's, and the Government -on term loans- than any of the folks mentioned. If however you are looking for subordinating debt, the folks mentioned previously might be able to help..

RG

www.businesscapitalconsultants.com