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Think about the people offering financing!

Why do they have no history, anywhere but where they solicit your business? Look for their Web Sites. Why do they have no addresses, in many cases? No history? But you are going to send them a detailed application, with all kinds of personal information, your Tax Returns... THINK ABOUT IT, PEOPLE!

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Answers (1)
Paul E
Front Line Plans
Business Plans for Entrepreneurs
Westchester County, NY

There are no “magic” loans, grants, investors or any other “magical” source of funding! If you can’t get funding from legitimate local sources you won’t get it from some foreign financial company.

As Don mentioned, the revealing of sensitive personal financial information can obviously lead to problems. Desperate loan seekers are prime targets for ‘scam” funders. If they don’t outright steal your identity I promise they’ll get you for some kind of upfront fee.

To be fair, there are some very rare situations where foreign investors may be more likely to invest. However, this is primarily for companies planning to go public. Certain regulations benefit foreign investors over domestic investors making an investment more attractive. Do not attempt without professional help on anything related to going public. You can be left holding “the bag” and in serious trouble if things go wrong!

Paul

Jun 15, 2012