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    6 Replies Latest reply on Apr 18, 2009 10:59 AM by wilfin

    dont get scamed by suposed investors

    mrjustice Newbie



      Be aware of some of the new scams that are making the rounds on the internet. If they call you from a posting on the numerous funding sties . DO not pay them up front. Do not listen to their telemarketing strong arm tactics. Call the BBB. The BBB does not lie


      Get references about them. If they give you no straight answers they are liars/telemarketers looking to scam you.


      Do a google search about the company you are going to work with.


      If you have resources, use them to inspect the lender/broker/investor


      If you have been scammed report it! Do not let the next person fall victim to your humiliation.


      Real investors invest in complete ideas. If your idea is incomplete and the investor say we need more money to secure your loan. do not pay them!



      I am eager for responses. Please do not whine or carry on about how you have been scammed. Actions speak louder than words. this post is intended to open your eyes about scams. real responses will teach new readers how not to fall victim to scammers
        • Re: dont get scamed by suposed investors
          wilfin Adventurer
          Very well said. There are still several legitimate companies out there that can arrange financing.
          Unfortunately the bad apples give the good companies a bad name. The rotten apples prey upon
          those that are desperate and trustworthy. I absolutely agree one should always check out BBB
          on any company they are considering doing business with.
          1 of 1 people found this helpful
            • Re: dont get scamed by suposed investors
              loyaltywalker Newbie
              There are " bad apples " in every industry that there is money to be made, do your homework and due-diligence.

              Don"t let it stop you from taking a risk though, nothing ventured nothing gained.
              1 of 1 people found this helpful
                • Re: dont get scamed by suposed investors
                  wilfin Adventurer
                  Absolutely. Just be sure the company you venture with is legit. Unfortunately there are many sharks
                  in the water. If they "guarantee" any type of funding, run don't walk. Our company charges nominal
                  application fees ranging from $99-$379.00. But there are some firms that charge excessive up front
                  fees of $5,000 and above just to issue a standard LOI. We are a brokerage and if we submit a package
                  to one of our funding sources we will only submit to actual relaible funding sources. These conduits will
                  only entetain opportunities that have a legitimate chance of financing. It's not worth their time and
                  reputation to waste time on a package that has no legs.Hence we are honest with the client beforehand
                  and review their opportunity to see if there is a source for it to be submitted to. The point is, yes I agree
                  nothing ventured nothing gained, but there are many business owners that have been taken advantage by
                  these sharks. I might be tooting my company's horn, but that is what we try to do, get people funded
                  honestly and legit and avoid the sharks. Fortunately many of the companies that have taken advantage
                  of people and their hard earned money have fallen off the map, thank goodness. You take advantage of
                  to many people it will eventually catch up to you. Can you say Bernie Madoff!!!!
                  • Re: dont get scamed by suposed investors
                    wilfin Adventurer
                    Good point, nothing ventured nothing gained. But ya have to be real careful where you venture.
                    Remember it's the rule of gold, but prospective borrowers need to think with their heads and do
                    their DD at all times.
                • Re: dont get scamed by suposed investors
                  phanio Pioneer
                  Great post - I hope this is not the results of you being scammed.

                  I have said many times in this forum - do not pay anything up front unless you have a guarantee of refund should the company not find you any capital. Plus, if it sounds too good to be true - it usually is. Lastly, there are many that say you can work around an issue to get the funding you need. i.e. if a bank turns you down becuase of reason XX and another company says you don't need XX as you can use their services to get around XX - don't fall for it. Usually the reasons the banks say no is the same reasons that all lenders will say no. Your best bet is to work on the issue for the no - take that out of the equation - then get the funding you need.

                  Business Money Today
                  1 of 1 people found this helpful
                  • Re: dont get scamed by suposed investors
                    mrjustice Newbie

                    For all who understand what it takes to start a new company from scratch. listen to the people on this forum. life is tough enough to deal with. untill you are thrust into the world of investors and bankers. Some are true to their morales, some are ruthless botom feeders. Do not let a telemarketer sell you on anything. I was a former call center employee for a major funding source that started out as a real true investor, Slowly over the past few years they became greedy, unruly and criminal in thier practices. CRIMINALS NEED TO BE PUNISHED BY THE COURTS.
                    Even some one who has been in the world of bottom feeders can be scammed. Do not let your company/idea/startup comprimise your ethical or morale standards. I got scammed three weeks. I was disgusted with myself. angry wtih those who scammed me, now i am just determined to make sure people know who are the scammers and who are trying to be true to their morales and ethics. The people who scamed deserve to see the inside of a jail, with the compamy of Big Buh-Buh or Matilda making sure your nights are not spent alone in JAIL.