My expereince was very similar to several prior outscam filed on brian opert and sterling commercial capital. | Brian opert, sterling commercial capital, promotes himself through a website and on conference calls a a direct source of funding for more difficult projects which normally cannot be funded through traditional funding sources. As a result, after i reviewed the sterling website, contacted opert and presented a summary of a refinancing and new construction financing for an international residential condominium resort in central america, opert indicated to me in email responses and on conferences calls that it was a project for which he was very interested in providing funds. Not once did opert indicate to my client or me that he was a broker, and that he was not a direct lender. In fact, on his website and on each conference call with opert he indicated to us that he “had his own money from which to fund projects.” | As a result, i then submitted a full project due diligence data room dropbox to sterling for review and after a few weeks, received a funding term sheet from sterling for a loan to fund the central american resort project. Terms were quite attractive other than the fact that the sterling loan “offer” term sheet required a personal guarantee from the principal owner/borrower, which my client was unwilling to provide. As a result, opert suggested that we resubmit the funding request to sterling as a joint venture or equity funding request in order to avoid a personal guarantee requirement from sterling. | Therefore, my client resubmitted the funding request for an equity investment in the project, specifically for the purpose of avoiding the sterling personal guarantee requirement. Sterling then provided an equity investment term sheet to my cliient which also included very attractive equity investment terms and requested a $5,000 due dilgence deposit. This deposit was to be paid up-front before any substantive due diligence was commenced. Upon receiving the deposit, sterling only then began to look at the detailed data in the due diligence dropbox data room… | Opert then provided comments and requests from an “underwriter” and started with a few follow-up requirements and questions which were not addressed in the equity investment term sheet or on any of the prior conference calls with my client, in effect, a “bait & switch” process began clearly reflecting new terms and requirements never provided or discussed on our conference calls which reflected a “good cop-bad cop” routine with the “underwriter.” | In our dealings with opert it became clear that he had no intention and/or ability to provide funding for the project financing as requested. He is either a broker of funds from other “potential” funding sources other than his own, or is a blatant fraud who is merely in business to collect due dilgence deposits and then quickly create reasons why he cannot fund soon thereafter. In fact, he starts with a very positive sales pitch and then once he gets the deposit money turns into a person who is “the answer is no-what’s your question” person; a “dr. Jeckle & mr. Hyde” personality. In fact, opert appears to be somewhat mentally embalanced. | Proceed with opert and sterling at your own risk. Do not pay opert any up-front “due diligence” money, since it is clear to me that he has no ability to fund any project, contrary to his website information and initial positive sales pitch…
- Name: Sterling Commercial Capital, LLC.
- Country: United States
- State: Alabama
- City: New Orleans
- Address: 2930 Banks Street
- Phone: 800-497-8606
- Website: sterlingcommercialcapital.com/