ForumsFinancing Tips

Thanks that is good to know can you elaborate on your transaction

Looking at ggoddard's post doesn't sit well with me because he claims to have done a deal with L Freeman, but has only been a member on the site since November 29th, 2008. I was contacted by L Freeman also and received a Letter of Interest and bank routing #s to a BB&T branch in Florida. In all, I am not sure if he is fraudulent; however, he wanted $2500 upfront and stated if an agreement cannot be reached the money would be returned less his attorneys' fees. In my opinion an investor who deals in large amounts of money would have an attorney on a retainer, the refund still could be up to his discretion because he could state his attorney fees were any given amount (say $1900 for example), or he could purposely not go through with the deal and keep my full $2500.

I would rather be charged the fee, have it taken off the top of the loan amount, and still finance the full amount.

Ex. $100,000 - $2500 = $97,500 dispersed to my business // Full amt. of loan + agreed upon interest rate = $100,000 + interest due on the loan to L Freeman

I didn't pose this senario to him. I just didn't contact him back.

Hope this helps.

ggoodard, What type of business do you own?

Yes that would be good to know. maybe just fill out more info???

I have read your posts and must say I am amazed. All of you are seeking funding to various degrees. The problem is that you want 100% funding and no fees until funding occurs.

The real problem is you are to frightened to take the necessary steps and that raises the question; are you qualified to be in business. Yes, risk is a factor but be in the lenders/investors shoes. Most inventors are not asking for your home as collateral, only business assets and/or equity in your company.

As far as attorney retainers, I am sure all business men have them....but to draft investment/loan agreements are not usually part of the retainer agreement.

I am now an international business man. My busness does not require a internet presence, nor do I want one. I travel the world assembling, dissembling and shipping pipe organs. My business is completely word of mouth.

I am going to breach my NDA, the only reason I am on this site is becasue my agreement with Mr. Freeman dictates that I must help a few small businesses get started, whether that be by advice or monetary injection. From what I see on this site is only whinnying and complaints about having to spend money to get money. My comment is then get a job and get real.

Definitely the right way to go