NMSC (LISC) - ANYONE WORKED WITH THEM? $15K JUST TO APPLY FOR FUNDING..?
New Markets Support Company (a subsidiary of LISC) could be an interesting as alternative non-SBA lenders.
Importantly, no PG required.
Also no citizenship requirement = amazing!
Too good to be true?
The LOI requests $15K non-refundable deposit before they will move forward or present to committee.
My offer to pay in stages was refused. Deferral was refused.
Fund is new - 5 months.
I've dealt with 80 lenders over the last 16 months - $15K up front for each is $1.2M (still have not closed) so I'm wary.
LOI also requires I accept liability for any and all costs whatsoever arising from DD (wide indemnity).