Direct Commercial Funding Inc.

[Ryan J Bondy]

Hello, I'm in the process of securing property in the U.S. as a Canadian investor.  A private lender named Direct Commercial Funding Inc. has presented us with favorable loan terms, however, they include a substantial upfront fee.  While the loan is promising, the fees being paid prior to funding is a huge concern.  Before committing, I'm very much hopeful that someone else out there has used DCF and can provide insight as to what we can expect in terms of probability of actually closing the loan.

Last thing we need is to pay the money, eat up the time, then not get funds advanced, only to lose the money, lose the funding, and lose the deal.

Anyone familiar with this company?

Please advise.

With great thanks,

RB

[Darren Eady]

It doesn't matter what the lender's name is, there is no reason that you would ever pay a significant amount down for lending - EVER!  The only fees you would pay in advance would cover the appraisal cost.  Connect with me and let's discuss some better options over the phone.  Thanks!

[Max Matrin]

Direct Commercial Funding Inc. is a direct private commercial lender based in Houston Texas. Direct delivers customized solutions and a full menu of loan and financing programs for, business owners, developers, investors and commercial real estate professionals throughout north America and abroad.

[Jonathan J. Miller]

I agree with Darren. He should be able to show you some better options.
~Jonathan

[Ryan J Bondy]

We certainly appreciate the feedback we've received, and the expressed interest from those of you that may assist us in other finance options. Direct's perceived advantage is in their LTV % and expressed interest rate. Because these two elements are so strong, we were hopeful someone else that had invested with them before, would be able to provide a reference. Frankly, being new to BP's ourselves, it's a little bothersome that no one else has any experience to offer us, positive or negative.

Research proves that they exist, that's not even questionable, but do they do what they say they are going to?  Our current concern is that we pay the application fee but never close the loan. 

[Daniel Okorie]

Unless the fee is paid at closing and is escrowed my advice to is NOooooooooo!

Don't do it.

[Mark Creason]

Originally posted by @Ryan J Bondy:

We certainly appreciate the feedback we've received, and the expressed interest from those of you that may assist us in other finance options. Direct's perceived advantage is in their LTV % and expressed interest rate. Because these two elements are so strong, we were hopeful someone else that had invested with them before, would be able to provide a reference. Frankly, being new to BP's ourselves, it's a little bothersome that no one else has any experience to offer us, positive or negative.

Research proves that they exist, that's not even questionable, but do they do what they say they are going to?  Our current concern is that we pay the application fee but never close the loan. 

Ryan,

What type of property are you buying?  On commercial deals, you would be expected to pay appraisal, a phase one, lender legal, and a site inspection upfront.  Our firm does not take upfront fees except to cover third party reports.

Mark

[Chenxi Bai]

Hi Ryan, How was your deal with Direct Commercial Funding Inc.? I met the same issue now as exactly as you posted. 

[Vladimir G. Diaz]

Hello Ryan, did you ever do any business with DCF? I recently obtained a favorable terms sheet from them for a client and after having a conference all with their rep, could not answer the questions, the term sheet figures did not add up, had many grammar erros, and the rep hang up the phone and never call back or contacted me again. I think DCF is a scam and I would not recommend anyone to do business with them, unless anyone has done business with them and can provide good reference.

[Anthony Jennings]

BEWARE: Direct Commercial Funding Inc (Houston) requires you to sign notarized papers that you’re not allowed to sue them or leave any negative reviews or else you’ll be sued in court yet they retain the right to sue you.

I can make no claims about the legitimacy of their business, you will have to make your own conclusions based on publicly available evidence

Luckily i pulled out of the deal in time thats why you can’t find any bad reviews for Direct Commercial Finding aka Calvin Blake.

The same day i withdrew my application Calvin had his lawyer send me a demand letter and threaten to sue me.

DO YOU WANT TO RISK GIVING MONEY TO A COMPANY THAT MIGHT SUE YOU?

If you do business with them and complain or leave a bad review in ANY way they might sue you regardless of whether your loan funds or not.

Please search harris county (Houston) court records for Direct Commercial Funding and Calvin D Blake (director) and 1st Nationwide Mortgage Texas inc (his previous entity).

Direct uses a virtual office service and a shared receptionist with hundreds of other companies. Why do they need a virtual office and anonymity so that you can’t physically visit them?

Disclaimer: This is my OPINION and EXPERIENCE so i cannot be sued because all these are provable facts protected by free speech and publicly searchable.

If I am sued over this review I will edit this review accordingly

Facts:
-Company states application fee is NONREFUNDABLE meaning if your loan doesnt fund you dont get money back
-Company requires that you sign away the ability to leave any bad reviews and will sue you for $10k if you do PER OCCURRENCE
-Company requires that you waive the right to sue them but they retain all rights to sue you
-Company uses a virtual office and has no apparent physical location