For anyone searching for BCM Credit Fund I found their practices to be rather deceptive, as they will provide no references or background on them or their company. They seek out projects on BP where hard money isn’t a good fit and charge 3 points plus a 1% transaction fee (which is on top of the 12% rate). If we had proceeded with them I would not have been surprised to see them charge the fees up front and the fall off the face of the earth.
Please do your homework and always get references.
@Christian Beyer Just as an agreement with your post I thought I would post his response once I asked for References and a recent project list....
"Hello Jeff,
Thanks for getting back to me. We don't give references of clients phone numbers, we respect everyone's privacy because people have been abused. We are active in the secretary of state since 2005. Check us out. No complaints and we are very upfront and very concerned about our integrity. Let me know if you have any questions. Look forward to hearing from you. Thank you!"
I felt that this was avoiding me knowing that the SOS would not necessarily have info regarding their performance. They offered me a great initial rate (9.5%) but the growing list of add on cost and points pushed this outrageously out of normal.