Funders, dare I say people who claim to be funders, most of whom are brokers of a type, are a dime a dozen on social media.
While there are many honest funders out there, the numbers of unscrupulous types on the Internet, professing to be bonafide funders is astronomical.
Social media is swamped with so called funders who blatantly violate every rule in the book. These so-called funders use gmail, yahoo, outlook, and host of other suspect email accounts.
Securing finance is serious business conducted by serious funders and investors. It is not for the thin-skinned or faint of heart. It involves risk, reliability, and most importantly honesty.
Someone unreliable can’t be trusted to do something. The word rely is a clue to what unreliable means. When you can rely on something, you can count on it — it’s reliable.
When you initiate a funding procedure you must be reliable and honest. When an investor has to call you back three times because each time he received your voicemail, you’ve in effect taken yourself out of our own funding request. Why would an investor offer funding to someone who doesn’t answer their phone?
Having your project funded is not science, yet many who want funding appear to work harder on not being funded than complying. Some think that investors go to work each day and sit at a big desk waiting for their telephone to ring, just to write checks.
Shopping a deal is fine if you’re looking for residential real estate finance or automobile money, but when seeking business finance that strategy works against you. Contacting several brokers, consultants or direct funders at the same time is the best way to not get funded.
How can funders possibly be at fault for not funding a project? If the client doesn’t qualify with one funder, thinking that another would fund him is futile.
If a client can’t take no for an answer he shouldn’t have applied in the first place. Funders are not in the habit of providing funds to every Tom, Dick, or Harry that makes an application. So when things don’t go the way a client expects, don’t blame the honest funders, more than likely it’s the client himself at fault.
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