I was referred to Finance For, LLC, specifically Richard Schwegman by my friend and business partner, who knew Richard when he lived in Minnesota. My business partner trusted Richard and said he was a Christian man and I could trust him too. So, at the beginning of December, I contacted Richard for a sizable loan, $1M for some fix and flips real estate properties me and my business partner were looking to purchase. I was approved and moved forward in the process. Richard told me I need to pay $3447 in closing costs, etc., and that was reasonable and he told me he would return that fee to me, with the loan amount. We had a loan agreement. A few days went by and then I find out I need to send/wire another $5172, which Richard said was for non-collateral purposes and once paid, I would be wired my money. A week goes by and now we are two weeks into the process. After I paid the non-collateral fee, Richard came back to me and said he needed me to wire another $5000 the bank was requiring as a damp payment and once paid, I would get my loan amount and an extra $50k to pay me back my fees, along with an extra amount to cover the inconveniences and delays. The following week, I hear back from Richard that I need to email the "support" team at another bank. I didn't even know what or why a bank needed me to email them, but I later find out this second bank wanted me to provide an IMF. I had no idea what an IMF was, Richard didn't know either, until later he tells me I need to get that and pay another $11K. At this point, I was out of money, I find out the first bank Richard had gone to suspected wire fraud and wouldn't send the money. Not one time did Richard tell me what had happened with the first bank, nor did he find out from them what else they needed from me or my credit union to prove there was no fraud and we had a loan agreement and they also had my passport. He just went to another bank who then brought this whole thing to a halt when Richard told me to pay for an IMF and he wouldn't just go back to the first bank to figure out how to get me my money. He just stopped communicating with me and refuses to give me back the $14K I paid to get the loan. I only paid those fees because he promised to return them, along with paying me more money for the delays. Now, I sit here without the loan, and out $14K, I didn't have to spend on this process.
I feel like I was scammed! I would also check the BBB as this company only has a C+ rating. I should have looked at that before I went through this process, even if my business partner felt we could trust him.
Finance For LLC Reviews
I was referred to Finance For, LLC, specifically Richard Schwegman by my friend and business partner, who knew Richard when he lived in Minnesota. My business partner trusted Richard and said he was a Christian man and I could trust him too. So, at the beginning of December, I contacted Richard for a sizable loan, $1M for some fix and flips real estate properties me and my business partner were looking to purchase. I was approved and moved forward in the process. Richard told me I need to pay $3447 in closing costs, etc., and that was reasonable and he told me he would return that fee to me, with the loan amount. We had a loan agreement. A few days went by and then I find out I need to send/wire another $5172, which Richard said was for non-collateral purposes and once paid, I would be wired my money. A week goes by and now we are two weeks into the process. After I paid the non-collateral fee, Richard came back to me and said he needed me to wire another $5000 the bank was requiring as a damp payment and once paid, I would get my loan amount and an extra $50k to pay me back my fees, along with an extra amount to cover the inconveniences and delays. The following week, I hear back from Richard that I need to email the "support" team at another bank. I didn't even know what or why a bank needed me to email them, but I later find out this second bank wanted me to provide an IMF. I had no idea what an IMF was, Richard didn't know either, until later he tells me I need to get that and pay another $11K. At this point, I was out of money, I find out the first bank Richard had gone to suspected wire fraud and wouldn't send the money. Not one time did Richard tell me what had happened with the first bank, nor did he find out from them what else they needed from me or my credit union to prove there was no fraud and we had a loan agreement and they also had my passport. He just went to another bank who then brought this whole thing to a halt when Richard told me to pay for an IMF and he wouldn't just go back to the first bank to figure out how to get me my money. He just stopped communicating with me and refuses to give me back the $14K I paid to get the loan. I only paid those fees because he promised to return them, along with paying me more money for the delays. Now, I sit here without the loan, and out $14K, I didn't have to spend on this process.
I feel like I was scammed! I would also check the BBB as this company only has a C+ rating. I should have looked at that before I went through this process, even if my business partner felt we could trust him.