Gateway Business Force Forms An Alliance With US-based Federal Loan Broker's Association - Online Article
(1888PressRelease) Gateway Business Force is a direct, private, hard money lender and has been providing loans and equity investments for 20 years. Their specialty is funding loans and providing capital to the types of projects and companies that have been turned down by conventional methods of funding.
Niagara Falls Ontario Canada,
Gateway Business Force announced today that they have formed a strategic partnership with the United States based Federal Loan Brokers Association of America. This alliance has been formed with the intent of eliminating the cross brokering involved when commercial finance projects are taken to more than one broker at a time. This will streamline the process and eliminate the same project being presented to Gateway Business Force by multiple brokers simultaneously. The alliance will be in place by February 1, 2011, and will be operated from Gateway Business Force Canadian offices in Niagara Falls Canada.
As these difficult economic times cause business owners to seek funding from alternate sources such as Gateway Business Force, there are a large number of loan brokers that use Gateway Business Force exclusively in acquiring the loans and equity investments that their clients require. Many of these clients will blanket market their funding needs to multiple brokers, which in fact causes a great deal of confusion to the industry.
Many times brokers feel that they have been cheated out of their profits, as when they bring their projects to Gateway Business Force, the project as already been presented and reviewed by Gateway Business Force. It is unfair of the business attempting to raise the capital to take their project to every broker they can find. Unfortunately up to this point there has been no clearing system in place to stop this type of business from taking place.
That clearing system is now being put in place. Gateway Business Force will now provide all members of the Association with an ongoing list of projects that have been presented for funding. That list will be available, as a weekly digest of current and new projects presented to Gateway Business Force.
This will aid brokers and funding providers in knowing where the project has been and all members of the Association will have access to the information provided by the client. This will assist Gateway Business Force in determining if there is any aspect of the funding request that may be illicit. Often projects, if inauthentic, are presented with major differences to different brokers. This will help identify any fraudulent attempts to obtain funding.
Gateway Business Force will accept applications from Associate brokers and those projects will begin. With signed agreements by associate brokers in place, a list of clients presented to Gateway Business Force will be provided. Members will be mandated to sign confidentiality agreements and non-disclosure agreements in order to protect confidentiality of the client. Only the name of the client will be disclosed. Any breach of this is taken very seriously. Proceeding with projects in this way will assist the brokers in being more productive and not bring in previously presented projects and will assist Gateway Business Force in determining if projects are being marketed fraudulently.
As an example, Gateway Business Force has projects that have been presented from Spain that appear to be of the utmost integrity, and appear to be the type of project that most lenders/investors would jump at having the opportunity to work with. How those projects were presented was in a very professional manner with all paperwork properly completed, with the statement that all fees would be paid, and they were ready to move forward immediately because of time constraints.
With one particular project it was determined that although it had a different name from each of the brokers, this was the same project presented to Gateway Business Force by seven separate brokers. Each project presentation was a different name, with a different address, but in fact were all from the same source and the project really did not exist. Of course this is a rare and unprecedented occurrence, it is however not uncommon for companies that have been shopping for funding for several months or even years to have crossed the desks of Gateway Business Force's Loan Assessors multiple times.
These services are available not only to members of the Federal Loan Brokers Association, but are available to any loan broker, commercial mortgage broker or anyone representing clients seeking funding. Gateway Business Force operates worldwide, and accepts projects from virtually any location worldwide. To protect yourselves as brokers, and capital providers, it would be wise to join in with Gateway Business Force in providing brokers with access to all projects that have been brought to Gateway Business Force, for brokers to review and determine that they are legitimate real projects, that have not been shopped around the world without the brokers' knowledge. There is no fee for this service, it is offered by Gateway Business Force as a means to assist all parties in having the most likely success in funding their clients' projects.
About Gateway Business Force
Gateway Business Force is a direct, private, hard money lender and has been providing loans and equity investments for 20 years. Their specialty is funding loans and providing capital to the types of projects and companies that have been turned down by conventional methods of funding. Gateway Business Force's track record is such that major names in the world of business have brought projects to them, directly and through their lending partners.
Ernie Mott - Lead Investor
Gateway Business Force
info ( @ ) gatewaybusinessforce dot com
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