Financing

[Steve Frazier]

I received an email from a representative of Premier Gold this morning expressing his concerns about what has been presented here about his company. I invited him to join us and to refute what has been said, he has declined. In fairness, I'm posting an edited version of what he sent me. I've excluded his personal contact info and a portion that was indirectly related to this thread.

Couple things:

We are nationally recognized and very reputable company. In fact the funders he recommends in his post are similar/clone funders that we use daily (actually I think ours are better because they are still consistently lending money in a tough environment). We offer the best rates and programs available to qualified clients. We do not take additional collateral as stated, that is a traditional bank/blanket UCC filing that a hometown bank would impose. We do purchase finance/lease, refi and lease-back. We take a specific interest in only the equipment we finance/lease/secure, we do not take millions of $$ worth of collateral as stated and we never wish failure upon any of our clients. Our business is built on repeat business and referrals, pretty tough to be successful when we are just putting everybody out of business according to kgmz. You do not have to own $2M in equipment again as stated; we do any qualified borrowers….start ups, people/clients that have never owned equipment, etc. Way too many assumptions and false information posted here. Kmgz appears to be very misinformed and not well educated on the subject and/or our business; …

Again, the representative from Premier Gold is welcome to join us at any time to enlighten us in this discussion.

[jm62]

Thanks Steve for your post of Premier Golds rebuttal. I am willing to give anybody a fair hearing and do not want to discredit anyone. I asked for opinions and got just that opinions and each of us are entitled to have one. I don't think the individual's personal attack on kmgz was appropriate but again it was that individuals opinion. So far everyone I have communicated with seems to be quite knowledgeable and plenty fair with their comments. So please take all of these comments for what they are opinions, and take them as you will.
I appreciate all who have responded to this thread whether you comments were liked or not.

[putzberger]

Your story happens too often. I have experienced bad customers like yours and your story reminds me of how the bigger the crook, the more they lie, cheat and act like this. Honest guys go to extremes to get the money or give you back the equipment. Two old says come to my mind when I was reading this.
(1) "A bad deal is a bad deal, is a bad deal" They never get better no matter how badly you want them to! Cut losses and get the machine back.
(2) "First loss is least lost" When it comes to repossession or collection, take whatever steps are needed to get equipment back before it totally disappears by being sold, seized taken by another creditor (no honor amoung creditors either), hidden (once had a debtor hide a machine on a barge that he floated to the middle of a harbor job only accessable by boat) the equipment damaged or disassembled for parts ( once saw only 3 machines runable out of 20 units when the machines were canabalized to keep the rest running. Glad you were lucky.