Home > > Home

ForumsHome

This thread is locked

This Question is Possibly Answered

1 "correct" answer available (5 pts) 1 "helpful" answer available (4 pts)
1 2 3 Previous Next
Post a new topic
Click to view wilfin's profile Mogul wilfin 106 posts since
Feb 22, 2009
30. Re: Has anyone heard of The National Angel Investor Forum? Apr 2, 2009 1:24 AM
in response to: kbnkinnkeeper
$250 is a very nominal fee. There is never,NEVER a guarantee. My company will charge a nominal
"upfront" fee which is an application fee. There is much paperwork that needs to be done,etc. However
our compensation comes from the backend, which only means IF we get you funded. Again our company
makes absolutely no guarantees other than we do our best. If I charge you $379.00 for commercial funding
upfront, I do not make a dime of that and frankly nor does my company. I do look primarily for large commercial
deals $2M up and make 2-2.5 points on certain deals. But that's on the back end only. It states so in our
documents.

Now, if a company is looking for merchant cash advances or factoring, we can help with that as well.

Call (910)547-3449 or email me at chris.harper@wfginc.net
Click to view Countess's profile Professional Countess 7 posts since
Mar 22, 2009
31. Re: Has anyone heard of The National Angel Investor Forum? Apr 1, 2009 11:38 PM
in response to: kbnkinnkeeper
That is smart thinking!
Click to view Countess's profile Professional Countess 7 posts since
Mar 22, 2009
32. Re: Has anyone heard of The National Angel Investor Forum? Apr 1, 2009 11:56 PM
in response to: kbnkinnkeeper
smart thinking as in DON'T waste the money.
Click to view wilfin's profile Mogul wilfin 106 posts since
Feb 22, 2009
33. Re: Has anyone heard of The National Angel Investor Forum? Apr 2, 2009 1:24 AM
in response to: kbnkinnkeeper
One thing to consider. Never expect any lending or brokerage to extend a guarantee. If they ask for
an up front fee and actually "guarantee" a loan to you, be skeptical and then run,don't walk. There is never
a guarantee in anything.

Our company does charge a nominal upfront application fee. This is for processing, as it does take time,etc.
to prepare the loan application. You will see "upfront" in our docs there are absolutely no other fees other than
the compensation on the back end. All spelled out in writing, and no guarantee. Our nominal fees range from $200
to $379.00. Only guarantee we make is we work our behinds of for you as again we our compensation comes from
the back end if we are able to arrange and close a loan for you. In my opinion, that's how it should be.
Click to view ggoodard's profile Mogul ggoodard 79 posts since
Nov 29, 2008
34. Re: Has anyone heard of The National Angel Investor Forum? Apr 2, 2009 1:01 PM
I know of two people (businesses) that have ha the misfortune of knowing National Angel Investor Forum. One of them was looking for a small Bridge Loan. This Bridge Loan of $25,000 was guaranteed by an independent Corporation that has been in business for over 15 years and has a great DnB rating. NAIL would not consider the DnB report. My client has wasted almost four months on them. Don't waste your time, just ignore them!
Click to view wilfin's profile Mogul wilfin 106 posts since
Feb 22, 2009
35. Re: Has anyone heard of The National Angel Investor Forum? Apr 2, 2009 1:44 PM
in response to: LISTENUP
Excellent post Listenup. Thanks for the updated info.
Click to view madmatz's profile Professional madmatz 4 posts since
Mar 13, 2009
36. Re: Has anyone heard of The National Angel Investor Forum? Apr 2, 2009 2:59 PM
in response to: LISTENUP
You have confirmed my original theory of this company after having communicated with them. Thanks for the information.
Click to view madmatz's profile Professional madmatz 4 posts since
Mar 13, 2009
37. Re: Has anyone heard of The National Angel Investor Forum? Apr 2, 2009 3:30 PM
in response to: wilfin
Yes some companies do charge underwriting/application fees. That is their choice. Our company does not as we make our money from results and keeping our clients happy; they in return send us more business.

There is nothing wrong with charging an up-front fee however, the entity must have the ability to follow through. There is something very wrong with charging a fee just to speak with someone so they may consider if your deal is even fundable. A credible institution will know if a particular deal is within range of their funding ability and if it within their funding niche.
1 2 3 Previous Next