from the desk of David Fisher, CEO
Finance and financing is serious business conducted by serious people. When someone says they are going to do something, even commit in writing, you would expect them to perform right? And when they don’t, how would it make you feel? Would you still want to conduct business with them? Would you, once you realize their word means nothing, believe anything else they said?
The Web Lender is a service company and charges a service fee for the work it does. When a client agrees to pay our fee and then concocts a myriad of reasons not to, reasons that far surpass normal and honorable business behaviour, we close the file, no matter how good the deal is and no matter the odds of it being funded.
Such was the case recently here at The Web Lender. And the result may surprise you.
A client thought he could circumvent our policy. After sharing facts with the funder we sent the deal to, he responded to the client with an email stating they would only proceed working the financing after The Web Lender’s service fee was paid. Such is the loyalty of the funders we work with.
Due diligence is conducted 90% on the client and 10% on the project. When a client is found to be even the slightest bit dishonest there’s no further discussion. File closed, end of story.
There’s a lesson to be learned here. Some clients claim they have been burned after having paid an advance fee and nothing came of it. To them I say this; The Web Lender did not burn you, it was someone else, and so linking us to them is an argument that bears no foundation. And when one of our funders asks a client who claims to have been burned, have you applied for funding anywhere else before speaking with us, and they say no, the funder knows they are lying. Such is the intensity of the due diligence conducted on the client. Think about it. A client claims he was burned, that nothing came about after he paid a fee. It’s clear to us that whoever ‘burned’ the client submitted their information to at least one funding source and taking this a step further, the client was probably not fundable in the first place and is embarrassed to share that information with the new funder. Clients need to realize that funders are not naive.
We make it clear to all our clients that all project funding is based on two important elements; honesty and facts, before they pay our fee.
Benjamin Franklin said honesty is the best policy, he was wrong. Honesty is the only policy.
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
THE WEB LENDER PORTAL
Facilitating lateral cost effective financial solutions worldwide