Since nobody seems to have any information on PDX Capital, does anyone have any suggestions on how to check out a lender? I have done standard incorporation searches, internet searches, and D&B searches, with no results. Allegedly they are a new company specializing in providing 100% down loans (their web site is easily found if interested). The reason I am asking this board is because a representative of PDX has posted here in the past, and I was under the impression that posters from commercial lending institutions must register. Any information would be appreciated.

What information do you seek? The best way to kick the tires is to do a deal with a lender. You can always try to submit a deal in and talk to your point of contact and just bluntly ask all the questions directly and run a few 'what if' situatuations by him/her.

”…. I was under the impression that posters from commercial lending institutions must register…." The registration requirement is a fairly new one and was only instituted after some serious spamming from a couple of people {most of it gets deleted in a couple of hours anyway so I don’t understand why they bother}.

Regarding your situation, I would go ahead and ask the lender not only the what ifs questions that Naj mentioned, but also ask them directly questions such as:

1- are they a lender or a broker?
2- What is their corporate name?
3- What is their address?

You are right about that company not showing in a D&B search, so I suspect that their true corporate name is something else.

No offense on the "required to register" thing. Just was hoping someone might have had some contact with them since their first post was submitted months ago.

They are a lender, not a broker. Here is the thing- in most circumstances, I would back burner them and just go along with their application process as I do more traditional lending applications. However, they have this fee that comes due if the give you a commitment letter. The fee is 12.5K, due if you accept their commitment. They say fully refundable, minus expenses (hmmm, what could they rack up??). Anyway, absent any firm information from them, they won't get any of my money, but I will continue diligence on them and see what turns up. I am actually an attorney for an International law firm, and I have already used firm resources on this and have turned up nada. Basically just reaching out to see if anyone has submited and application to them and actually given them the 12.5K.

Thanks for the responses. This board is a great service.

Jim: If they expect that kind of commitment fee, I don't see why they would have a problem giving you some background information. Then, it will be easier to check them out.

Which company would be commiting itself to funding? sounds like a reasonable question to answer for $12,500

Jim!, I would not post or advertise my opinion about any lender/broker on the fourms...just would not be professional. But generally speaking, Commercial Lenders do not issue commitment letters unless the deal is in, processed and reviewed by underwriting. Commitment letters are not pre-approvals (which in lending lingo are non-commital aka swiss cheese). Commitment letters are legally binding and ususally issued when the loan is qualified and wanted by the lender. If you have any questions, feel free to give me a buzz. Thanks Naj!

Our company has been involved with some very large projects (15-85 million dollars) with the principals of PDX Capital over the past four years. These projects have ranged from condo developements to the refinancing of large shopping centers in Southeastern United States. It it is my understanding that the principals have aquired additional investors and set up PDX Capital in the US (recently) to expand the scope of their lending operations. I have developed close business relationships with the lenders and have found them to be honest, fair, and reliable. The one time when we had a deal fall apart on our side (appraisal way too low) PDX Capital refunded the FULL amount of the Commitment Fee, even when they didn't have to. We feel very good about their business practices. if I may be of further assistance email me at hazel2222@hotmail.com.

How Interesting "Larry"..........

That YOUR email - hazel2222@hotmail.com - is the SAME email address listed in WHOIS for the Administrative, Technical and Billing contact for the PDX Capital website (www.pdxcapital.com), and that the phone number for the contacts is the SAME as for PDX Capital!

HMMMMM....maybe you actually work for PDX Capital!

PDX is likely an "advance fee" fraud...

Unfortunately, it turns out that their Bank Reference Letter, purportedly "showing" a balance in excess of $5b, reflects a name of "Anton Wabnig" as the supposed bank officer who furnished the Letter.

Multiple calls to the Slovenian branch of the Bank Austria/Credit Anstalt indicate that the long-time employees of the bank do not know anyone name "Anton Wabnig."

And, it is also curious that the PDX website is listed as owned by "William Smithfield" (sounds much like "Whitfield" when said aloud rapidly) and that both Avery Whitfield (probably not his true name) and Smithfield both occupy Apartment B at 2155 NW Glisan Street in Portland, Oregon. And, of course, the e-mail address 'hazel2222@hotmail.com' also curiously happens to be the same e-mail address used for reference when the PDX website domain was registered...

I'm told, although I cannot verify the authenticity of the statement, that Avery Whitfield/PDX has collected several hundred thousand dollars in commitment fees already, and that they are awaiting the daily arrival of more...

Would anyone want to bet that 'Yuri Slavik' doesn't exist, either?

Hmmmm guys....

I do not want to turn the site into a place where people can talk about others since in this internet world it is easy to hide behind the veil of anonymity.

As such, I am locking this thread and asking you to please refrain from further discussion on the subject. I do not know this particular company and do not know provide an opinion on it.

For any attorneys reading this: Please see my disclaimer.

This site is owned and managed by:

SUNGOD ENTERPRISES LLC
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I knew that incorporating was going to pay off