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Thread: Hello

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    gecko79 is offline Junior Member
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    Hello

    Hello everyone, my name is Guillermo Ferrero. I am currently seeking funding for a startup project and have received suspicious offers from various sources in the US, Europe and the Middle East. Before replying to any of these offers, I thought some due diligence on these "investors" would be in order and realscam.com seems like the right tool to do this.

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    Soapboxmom is offline Administrator
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  3. #3
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    ribshaw is offline Nigerian Ministry
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    Re: Hello

    Quote Originally Posted by gecko79 View Post
    Hello everyone, my name is Guillermo Ferrero. I am currently seeking funding for a startup project and have received suspicious offers from various sources in the US, Europe and the Middle East. Before replying to any of these offers, I thought some due diligence on these "investors" would be in order and realscam.com seems like the right tool to do this.
    Welcome Gecko. I don't know a whole lot about funding startups but a few thoughts.

    The first thing that jumps to my mind is advance fee fraud where someone will tell you they will get you funding in return for a fee. Once you pay the fee they will either disappear or keep coming up with new fees until you catch on. So no money up front. https://www.sec.gov/answers/nigeria.htm

    Second, and you may/may not want to disclose in a public thread how much or what type of funding you are looking for, debt or equity. If it is debt financing could you not go to your local bank(s)? While banks can be kind of "fussy", if the banks have turned you down, then this would really heighten my suspicion of offers that come over the web.

    Third, if you are considering equity funding are you represented by an attorney who is knowledgeable in your industry? You could end up with funding, but signing away a lot more than you ever bargained for with a bad contract.

    ===================================

    Turning to the web have you looked at crowd funding or P2P lending sites? Again, I don't know much beyond what I read. Normally, I would come at it from the other direction of seeing people put money into stuff for no good reason. BUT as a small business person, why not look at it? There are a few large sites that seem to have decent traffic and reputations.

    Given my choice I would rather take a handful of gifts first if I could get them. Then a loan especially if it can be structured as a business debt so you are not personally liable, which may prove very difficult as a start up. Finally would be equity, which I would really research and use legal counsel for due to all the rules.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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