Fraudulent Commercial Lenders

Fraudulent Lenders are ever present in the commercial credit market. Be cautious as you move forward with any lender that these red flags don’t appear. This is a lender that approached us as a source for funding out of the box commercial deals. Be very cautious if any of the following come up during your investigation.

  • Underwriter/lenders email address was to a public email account rather than a company account (ie. yahoo, gmail, etc).
  • I have never received an LOI from a credible source within 24 hrs of a submission.
  • Money wired to a different entity then the company named as lender.  Verify the company is in existence with the state it resides. Make sure it is an active entity.
  • A lender that does all types of deals is usually fraudulent. Most lenders have a few niche areas of lending they specialize in.
  • The credit bucket appears to be unrealistic when compared with the market place.
  • Google has complaints registered to the lender. Read complaints with a grain of salt knowing some customers just like to vent; but, don’t disregard them.
  • If it sounds too good to be true.

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