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4 Replies Last post: Jan 27, 2009 5:59 AM by gegrus

pay or not to pay up front fee, what to do if you asked to

Jan 26, 2009 11:48 AM

Click to view gegrus's profile Mogul gegrus 95 posts since
Jan 9, 2009
Hello everyone
My name is Dmitry
My company is looking for a loan,
Very often, we get responds, from different companies, or investors.
Where they say, that in order to get funds we need to pay up front fee, because of bank regulations, or because of some kind of UN regulations, or because of tax clearnce and money laundering clearnce.

PLEASE, WHAT DO YOU THINK ABOUT UPFRONT FEES?

REGARDS
Dmitry
Tags: up_front_fees, scarm, fraud Report as inappropriate
Click to view DomainDiva's profile Mogul DomainDiva 1,731 posts since
Oct 10, 2007
1. Re: pay or not to pay up front fee, what to do if you asked to Jan 26, 2009 12:07 PM
A Reputable investor will not ask for up front fees. Reputable investors understand that start ups don't have any money.
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Click to view barterbroker's profile Mogul barterbroker 47 posts since
Oct 2, 2008
2. Re: pay or not to pay up front fee, what to do if you asked to Jan 26, 2009 1:56 PM
Dmitry,
It is customary to provide "fees" of some sort to a broker to go to work on a loan. The challenge is (and it is a challenge) finding an HONEST broker who
takes your "fees" and then does nothing. Another option is to do an escrow account with established incremental releasing of funds, based up
certain parameters that you have established with the broker.... i.e. letter of intent, commitment, Term sheet, Lenders name, phone etc.

db

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Click to view OilandGas's profile Authority OilandGas 9 posts since
Jan 26, 2009
3. Re: pay or not to pay up front fee, what to do if you asked to Jan 26, 2009 5:39 PM
I had an experience with a broker to sign an agreement and paid a down payment. After we agreed and paid, this broker chaged agreement and terms dramatically. I has been 4 months since I ask the broker to refund the money. Now, they are refusing to refund the down payment and I am stuck with no funding and less money.... So please be careful if you decide to pay anything up front.
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Click to view gegrus's profile Mogul gegrus 95 posts since
Jan 9, 2009
4. Re: pay or not to pay up front fee, what to do if you asked to Jan 27, 2009 5:59 AM
Thank you
Thank you so much
I was thinking of pay or not to pay
But now i am convinced, and will not pay anything
Thank you all very much
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