Online commercial lenders may not be what they may seem. Recently we have been contacted by several lenders looking for a place to get loans funded (a result of our Google ranking). They have seen the results we have been able to accomplish and would like to send referrals our way. Some of these lenders have also marketed the Hoffman Consulting Group in an effort to acquire referrals or business from us.
In doing a bit more research we have found that some of these lenders asking us to finance their referrals portray themselves as lenders on their website. In reality, you are not a lender unless you have wholesale pricing channels or utilize your own funds to make commercial deals happen.
In this market commercial lenders who were industry leaders have found themselves searching for money sources. In many cases a leader yesterday is nothing more than a "commercial loan" salesman today. It is important for you to know who you are working with in the industry. Some "so called lenders" are really preying on businesses owners that are desperate to find a home for their loan.