Quaker State Commercial Finance of Conshohicken Pennsylvania Leonard J. Keating, Jr. and I am the Principal and President of Quaker State Commercial Finance, Inc. This company are scam artists and Due Diligence Theifs Conshohocken Pennsylvania

Leonard J. Keating Jr. can say what he wants, but here are the facts.

The address for Quaker State Commercial Finance at 1950 Butler Pike, No. 137, Conshohocken, PA appears to be a UPS mail drop.

Quaker State Commercial Finance purports to be a lender.  Well it is public record the Mr. Keating's home is under mortgage foreclosure.  See E*Trade Bank v. Leonard J. Keating Jr. et al Court of Common Pleas of Montgormery Country, Pennsylvania Civil Division NO.: 2014-29303.  The amount in demand exceeds $1, 250,000.  So this "lender" does not appear to be able to pay his bills.  

Read carefully Mr. Keating's reply.  He incriminates himself MANY TIMES.  Some facts:

1. Quaker State is under a Confidentiality Agreement.  With their rebuttal, they further breached the CA.  So do not tell them any trade secrets or proprietary information.  They do not understand or respect a CA Agreement.  
2. Quaker State described themselves to be a Direct Lender in their own documents.  Now in this rebuttal, Mr. Keating says he was trying to place the loan with "investors" (who were merely other lenders unrelated to their firm).  DO YOU SEE HOW KEATING INCRIMINATES HIMSELF?  By representing themselves to be a direct lender while they are a broker is a fraudulent practice under Pennsylvania Law.  
3. The Senior Partner for the New York Mortgage Brokerage Firm asked Mr. Keating a very simply question.  Why would his Mortgage Brokerage Firm introduce their client to another Mortgage Brokerage Firm?????  And then have both firms ask for a fee????  They would have brought their client directly to the other lenders.  Unless of course Quaker State represented themselves to be direct lender to the New York firm!  Again KEATING INCRIMINATES HIMSELF.
4. AS to the other claims of Keating and Quaker State,CONSIDER THIS.  
   1. Keating admits the lenders liked my deal.  However, I refused to supply Keating and Quaker State any additional information as they were passing the information on wholessale to unapproved outside parties in complete violation of the CA.
   2. Prior to meeting Quaker State, I had already received Term Sheets from the very lenders Quaker State was trying to introduce me to.  I went to Quaker State as they were offering me better terms.  So how was I to get the better terms if I was back to the other lender?  Again KEATING INCRIMINATES HIMSELF.
   3. If I claimed I had a bank takeout loan (as Mr. Keating asserts) why would I be seeking a loan with his firm? Again KEATING INCRIMINATES HIMSELF.  
5. SO TO ALL READERS I ADVISE BEWARE QUAKER STATE FINANCIAL.  IF THEY ASK YOU FOR MONEY SAY NO! 
6. TO MR. KEATING, YOU RAN OFF WITH MY DEPOSIT.  IT WAS NOT YOUR MONEY, IT WAS A DEPOSIT ON A CONTRACT THAT WAS NEVER SIGNED.  SO YOU LAWFULLY HAD TO RETURN THE MONEY.  FURTHER YOUR APPRAISER WAS NOT A LICENSED APPRAISER.  THAT WAS THE TIP OFF!  SO ANY CLAIM YOUR FIRM WAS OWED AN APPRAISAL FEE IS ALSO BOGUS.  YOU SIMPLY POCKETED MY MONEY.  Reading Ripoff Reports, I see it has not been the first time you ran off with someone's money.  
7. I WILL BE TAKING QUAKER STATE TO COURT TO RECOVER MY DEPOSIT.  IT IS AN OPEN AND SHUT CASE.  WHEN SOMEONE MAKES AN OFFER WITH A DEPOSIT, YOU CANNOT KEEP THE DEPOSIT IF THE OFFER IS WITHDRAWN BEFORE YOU SIGN THE CONTRACT.  

Alas, since the bank meltdowns a few years back the industry is flooded with due diligence thiefs who offer the world if you send them money.  SOUND FAMILIAR?  I CAN GET YOU WHAT YOU WANT!  JUST SEND ME YOUR MONEY!  Do not be a fool. Keep your distance from Keating and his kin.   Check Ripoff reports first! 

 Prior to reading this rebuttal; please refer to Rip Off Report # 1130534 from March 13, 2014; where Rip Off report exonerated CRE Finance who Mr. J. S. accused of defrauding him one year prior to our experience with the borrower. Clearly, Mr. J. S., Principal of Sakon Development, LLC, is a serial complainer and extortionist. Rebuttal Summary: This rebuttal is from Leonard J. Keating, Jr., Chief Lending Officer of QSCF, Inc. QSCF, Inc. was approached by a well respected New York commercial finance broker to obtain “hard money” financing for their client, Sakon Development, LLC. J. S., principal for Sakon Development, LLC, of Glastonbury, CT subsequently engaged QSCF to obtain a $6,000,000.00 land development loan for his proposed lifestyle center under a Letter of Intent that was mutually negotiated by the parties including a nonrefundable “Due Diligence” Deposit. We had repeatedly related to the borrower that we were not the Investor who would fund this loan. QSCF, Inc. executed this agreement based on our analysis that the developer had a high quality piece of real estate and certain important assertions made by J.S. in writing as follows: “the Developer has arranged construction financing for funding summer, 2015”. Due Diligence subsequently performed uncovered that the borrower totally misrepresented that he had a takeout construction loan from a local bank. He had no exit strategy and subsequent other misrepresentations made it quite obvious to us that J.S. made this very critical assertion to fraudulently induce a Lender to save him from foreclosure. Next, the borrower asserted that he was under no pressure to refinance his loan. After an arduous investigation and interrogation, the borrower begrudgingly admitted that he was in foreclosure. We subsequently learned that he had been unsuccessfully attempting to obtain financing since 2006. Our contract called for the borrower to provide whatever information and reports requested by our Investors. Mr. J. S. subsequently adamantly refused to provide a Personal Financial Statement or Personal and Business Tax Returns as required by our Investors. We then presented this incomplete package to a number of our Investors. Most of them rejected the loan because there was no take out strategy. Several others expressed significant interest; however when they had a conference call with the borrower, Mr. J. S. prevaricated and refused to answer their probing questions. He also adamantly refused to pay for their due diligence as is the common practice in the commercial finance industry. He wanted to pay all fees at closing. We subsequently learned that he was having severe financial problems and was unable to meet our Investors requirements. Several of our Lenders liked the project, however would not get involved if J. S. was the borrower as they believed his answers to their questions were untruthful. Subsequently, J. S. fired us in writing and demanded that we refund his non refundable deposit or he would trash the reputation of both our company and employees. He also made the same demands of our New York broker who paid him a significant unwarranted cash payment to “go away”. I refused to pay extortion money as we performed under the contract, and the borrowers’ self serving, outrageous and scurrilous assertions and misrepresentations ruined any chance we had to complete his financing. Please call me at 610-667-6701 if you have any questions.