[Jstarr]

So I wouldn't normally do this, but its hysterical - WBL emails me and said " You must have had a bad experience with WBL and be Mis- Informed about our products " so i called him back instead of emailing and told him - First off i dont need WBL because we are direct - so he tries to explain why they are good....

ME : are you an asset based lender,
WBL he replies yes

ME: So do you ask for Business Bank Stmts
WBL: We look at them

ME: So Will you lend on the pure Equity of the Property and not the Business cash FLow
WBL: Yes ( I call BS On This)

ME: do you offer Interest Only Monthly Payments
WBL: No


For Those of you who dont know or have been mis guided, Asset based lending is purely based on the Equity of the property and not that of the business bank accts, In fact most of us ASSET BASED LENDERS dont require income verification since we lend on the asset, we only ask for a statement to see that you have 3 months reserves to service the debt - THATS it and we will provide you MONTHLY payments at a fixed Rate Between 8-11% with No pre Payment Penalty. So i have to ask - and i hope everyone will chime in, WBL sends me this price matrix and said " here are our rates", now do these look like anything ive described ? or does it look like Factor Rates ? WBL, Stick to MCA business - your out of your league when it comes to real estate.

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