The Lender Sounds So Enticing

You have probably seen the pitch on social media. I’m approached almost daily on LinkedIn. These companies and individuals are frequently offering any amount of funding from $500,000 up to $500M. Some are offering to partner with you on projects. Some are offering both debt and equity. 

Offers of funding can sound enticing to those who are seeking additional capital to cover a shortfall in their business. 

As always you need to do your due diligence on any kind of funding source. You need to know that they can deliver what they are promising. 

Think about the potential risk that exists for any borrower who provides tremendous volumes of data to a lender including details about your real estate holdings, tax returns, a complete statement of assets and liabilities. 

What if that person who is posing as a lender is not really a lender at all, but someone who is seeking to steal your identity? Have you armed them with the necessary information to make identity theft incredibly easy? Sometimes an identity theft can occur with just one or two critical pieces of information. But in this case you have given them everything. 

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Host: Victor Menasce

email: podcast@victorjm.com