Forums: Discussions for entrepreneurs and small business.

I recently posted about a project I wish to develop and was refered to www.ryze.com another networking site. I looked up financing opportunities there and found several... or so I thought.
It was just too easy. After several e-mails back and forth the lady in question granted me the ``loan`` I wanted and went through what I asume were imaginary steps to get me this financing. Without so much as a credit check. She had her ``lawyer`` send me a letter of agreement today. Funny thing is the terms of the loan were all wrong on this ``legal`` paper. She states she is from a company called Planet Financial International which I looked up with the BBB and called every single one but she is not at any location. I asked for her contact information several times which she has not sent me as of yet only a yahoo.com e mail address. I looked up this lawyer / barrister and he is no where to be found either, I was given a phone number to call... in Nigeria at $5.00 a minute  Let me know if you would like to see this fraudulent letter of agreement.
Does anyone know where I can find private investors who are serious and are not about FRAUD? I am completely discouraged and my time is running out
Thanks a bunch
Corinne Nichilo

Friends and family are the best source for early funding.  If they don`t believe in you, you will be hard pressed to find others that will. 

 

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Travis Tschepen
Hibachi Bros. LLC

--My goal in life is to be as good of a person my dog already thinks I am.--

Unfortunately, I have no family. It`s just me and my 12 year old sister. Friends that have this kind of capital are non-existant. People believe in me and my project wholeheartedly but I would need thousands of them to raise the capital for this project... SUN members... wanna finance me? LOL

I`m going to assume that this fraud was designed to get a hold of your Social Insurance Number (SIN), or your money. If you let that number out, (I hope not)  then you have some work ahead of you. Check out the Canadian gov site for stole SIN numbers.
If you sent them money, then i would consider it gone...

Smart enough not to have sent money and told them where to go when they asked for my SIN and my drivers liscence. They also asked for my bank account info... they didnt get that either. Sent them a nice e mail telling them I sent their info to the the internet crime center. Which I did!

Corinne Nichilo

Corinne,

Sorry for the bad experience you had. It would depend on the amount you are trying to finance, and if you are looking for a unsecured loan, you will need to look more local for what you are looking for. There are loans in your area that require collateral or 20% of the loan you are asking for. How much are you trying to finance?

The project is a big one, and I am looking at between ten and twenty million dollars CAD. My payback plan is 1.5 million yearly. This means it would take 7 to 14 years to pay back. The property is worth 1.7 million before construction and the land value will only go up with construction and business. All the investors I seem to be finding are all in the UK and in the states. Unfortunately most of the ones I found are not legit.
Honestly I cannot believe there are people out there who prey on others trying to get something started.

Corinne Nichilo

Honestly, many business investors are not going to work with a person, they are going to do the project themselves. By looking for investors on the internet is like playing the lottery. What do you have to offer in this venture?

I guess I am lucky then that I noticed the discrepancies before signing anything. I reported them to the FBI and I guess that is all I can do. I am sorry you lost your money  I also went down that road last year for a whole $8000.00 USD and dont think I will be seing my money again. You are right, it is a shame