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02-13-2024, 07:59 AM #1
- Join Date
- Feb 2017
- Posts
- 3,432
Prime Commercial Lending
Sean posted about it on LinkedIn, but I guess I'll post it here:
https://www.timesunion.com/business/...s-18662632.php
I worked with a client in Octobre 2022 who was supposedly refinancing a $1mm MCA by escrowing prepaid interest on a long-term loan from these guys. He said "my accountant did due diligence" before he paid the DD fee. Honestly, I warned him that it was a scam because of everything around the deal. This is why you need brokers, and you need trustworthy brokers as well. You should put your CFO in touch with brokers (even several), not just the ones who want to sell you on the product that they think will line their pockets the most.
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