I have read numerous articles written by people who applied for business finance, were asked to pay a fee for the service of helping them, and responded with cries of foul play. Why? It’s because they knew in advance that they were not fundable. They protested they were scammed, but the truth be told, they themselves were (and still are) the scammers.
In working with every client seeking business finance, funders and investors need specific information to process. This information allows them to understand a client’s funding needs as clearly as does the client.
Consultation with clients needing business finance is work that requires careful, accurate, and attentive dialogue that takes time. The processing of a funding request, due diligence and other essential duties, need to be performed before a client is introduced to one of our many, many funding sources. All of this equals a service which no credible facilitator, attorney, or accountant would undertake without first being paid. Attorneys and accountants may call it a retainer fee. Facilitators, such as The Web Lender Portal use the term service fee.
The Web Lender Portal is not a loan broker and we do not work or behave as loan brokers. It is important to understand how loan brokers conduct themselves.
Loan brokers project an image to clients that they are the funder, fueling them with false hope. They use words like application, which in and of itself is misrepresentation. Funders accept applications, not loan brokers.
They often present themselves to funding sources as if they are the client. They try (and always fail) to negotiate terms and conditions as if they are the ones borrowing the money.
After sending their client’s application to every funder in their rolodex, mind you, all at the same time, hoping (praying) one of them will agree to fund, and later finding that all say no, what do they do? They contact other loan brokers who have other funding sources and send that application to their funding sources, omitting to inform the client there are now two brokers on the deal. This is co-broking, aka creating a daisy chain, and funders don’t like it. Once they find out, funding is usually declined.
When a deal is successfully funded they charge the client a success fee, sometimes called a referral fee, which typically ranges between 1%-3% of the amount received by the client, and which the client is indebted to pay the broker.
Financial advisors are not required to have university degrees. However, they are required to pass certain exams administered by the Financial Industry Regulatory Authority, (FINRA), which is responsible for governing business between the public and brokers to ensure advisors are qualified.
Recognizing these shoddy characteristics of loan broker behavior, The Web Lender Portal created a cleaner and more efficient way to facilitate the needs of clients seeking business finance.
As mentioned earlier, collecting and processing the information provided by a client is work, and as such The Web Lender Portal charges service fee in advance of commencing work on behalf of its clients. No additional fees, such as success or referral fees are ever charged to the client by us.
Using our proprietary Project Data Form, we introduce clients to one funder at a time and allow the client and funder to work together with no interference from us whatsoever. In fact, once the client and funder have been introduced, our work is done.
The Web Lender Portal does not offer a guarantee of successful funding. It is highly unethical and, when you think about it, neither do funders.
The Web Lender Portal has over 8000 thoroughly vetted funding sources around the world in its databases. We are continually adding more.
Honesty and integrity are the very heart and soul of our work, and our clients and the funders we work with appreciate it.
The Web Lender Portal exists to facilitate corporate finance worldwide.
Acquisition Loans, Asset Finance, Bridge Loans, Business Credit Lines, Construction Loans, Corporate Finance, Debt Finance, EBITDA, Equipment Finance, Equity Finance, Factoring, International Finance, Joint Venture, Mezzanine Finance, Secured Loans, Term Loans, Trade Finance, Unsecured Loans, Venture Capital.
Serving these sectors:
Accommodation, Aerospace, Agriculture, Biotechnology, Commercial Real Estate & Development, Construction, Energy, Entertainment, Health Care, Hotels, Infrastructure Development, IT/Telecommunications, Manufacturing, Mining, Natural Resources, Oil & Gas Exploration & Pipelines, Power Distribution, Power Generation, Power Plants, and Renewable Energy
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