James E. Pater - Jim Pater Asked for a large deposit to help to obtain bank financing and failed to do anything Doylestown Pennsylvania
Was referred by another individual that James Pater was a good loan broker for businesses. We met at restaurant outside Doylestown were he stated that he worked with a number of banks and was able to obtain large business loans. Explained the nature of the loans we were looking for and went over our business plans. Mr. Pater stated he would be able to help but would need more info and a large deposit (5 figures!). Meet him a second time and gave him info and deposit so he could proceed. We should have known it was a scam as the mans web site was not active and we could find very little info on him. We only went ahead with it because our company was in a bind and needed the loans rather quickly. After two weeks he called and state he couldn't do anything to help and would not give back any of our sizable deposit. Due to our faith in him saying he could acquire the loans we stopped working with another source for the loans and consequently lost the business deal we were involved in. We have talked to others and were told of this type of scam after the fact. There are people out there that prey businessmen that are in a tight position and ask for a large up front deposit and make promises that they won't deliver on just to walk away with a sizable deposit. Beware of giving this man a large deposit on his promises!
1 Updates & Rebuttals
James Pater
Doylestown,],Pennsylvania,
United States of America
Rebuttal
#2REBUTTAL Owner of company
Fri, December 07, 2012
There are two sides to every story. Shown below is the side of an angry anonymous client whose
transaction was not able to be completed. My company was started in 1998 and has helped numerous companies find alternative financings since then. I work with commercial companies only and do not handle consumer accounts. He indicates that he stopped working with several other sources. My question is if he was satisfied with their performance, why was he still looking for an additional consultant? It is true that my company does charge retainers based upon the size and type of engagement. However to receive a retainer of 5 figures, the loan that he would have been attempting to obtain would have had to be in excess of $10 million and have a significant time frame requirement. He indicates that I cancelled the engagement after two weeks. While I have cancelled an engagement shortly after the start, I have never cancelled an engagement in two weeks. Additionally, the engagement that was cancelled was due to the client providing fraudulent information and misrepresenting the facts.