SCAM ALERT!!!  

...What we has is a network of fraud!

LISA ARLT ESCOTO, of WORLD WIDE COMMERCIAL FUNDING ( THE VITORIA GROUP ) ...TO INCLUDE; MICHAEL CHERY, of CHEVALIER FUNDING AND DANTE VITORIA a.k.a. ( MICHAEL ANTHONY LARGUE ).

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Hi Shiloh -

I left you a voice mail but wanted to follow up with an email.   Give me a call when you get a chance. 

The fund still has some reservations about the limited income potential for this project (since there are existing leases in place, and it doesn't appear you can increase the existing rent). 

Dante and I would like to brainstorm with you some ways to increase your income from the project so you can get the funding.  2 options Dante thought of (and I know he has more) are adding a second floor (for a restaurant or movie theater), or taking advantage of a kick-out clause for the tenants so you can either raise their rent, or get a competitor in the location at a higher rent.

We feel a conference call between the 3 of us would be very helpful in figuring out strategies to maximize your income from this project.  What time can you be available Tuesday am 9 to 11:30 EST?  Please let me know asap so I can schedule it.  Thanks!

Best,

Lisa

...Additionally, I offerred to submit a different a different a property for funding, but I was told not to by Mike Cherry, because he thought they could still get this property funding done. How does it take 6 months for a lender to determine if a deal is viable?

Re: " 100% Refund Guaranteed "

People

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We back this up with:     - Escrow with a licensed New York State Attorney for lender-required due diligence fees
    - A 100% Refund Guarantee - If your project is viable and factually represented, we get you your funding or you get your due diligence fees back
    - 30 years experience on Wall Street

- Shiloh

The claim that Lisa Arlt Escoto, Worldwide Commercial Funding, and The Vitoria Group didn’t honor our 100% refund guarantee is completely False. 

Here is the refund guarantee, spelled out in writing, on the document signed by this, and all, clients:

“Consultant provides the following 100% Conditional Refund Guarantee:

• If an LOE is not provided to client within 3 months of payment of deposit, the deposit will be refunded in full (100%)
• Consultant will act as Client’s representative until Lender fulfills contractual obligations for funding.”

Supporting Facts:

1.  A Letter of Engagement from a lender was issued to a client within a few weeks, which was well within 3 months, thereby satisfying the first requirement, making that portion of the refund guarantee moot.   (At that point the fees paid by client into escrow were released for the Lender to begin due diligence on the project). 

2.  The client had conference calls with, and spoke to the lender, at length about his project. 

3.  During the due diligence process, the lender determined that the project, as proposed by the client, would not produce adequate revenue to pay the debt service and provide a profit to the client.

4.  The lender requested that we assist the client in increasing the project’s revenue, as it would not qualify for funding under their lending criteria based on the limited profit margin.

5.  We shared this information with the client, then reviewed the project with him.  We suggested to the client several ways to increase the profitability of the project, thereby making the project fit the underwriting criteria of the lender, and allowing the project to be funding. 

Among our suggestions were decreasing costs (namely negotiating a decreased purchase price), and increasing profits (first by determining if rents and/or tenants could be adjusted/changed, and secondly by suggesting an increase in rentable area by constructing a second floor.  The loan would have been increased to include construction costs.)

Despite our suggestions, and our reminder that the lender could not fund the project as it was proposed, because the limited profitability did not comply with the lender’s lending guidelines, the client insisted that his project be funded as he proposed, and declined to make any changes. 

6.   The Lender determined the project did not fit their lending criteria due to insufficient revenue/profit, and the loan was not funded.

To sum it up – Lisa Arlt Escoto, Worldwide Commercial Funding, and The Vitoria Group did indeed satisfy the terms of our refund guarantee. 

• An LOE was provided to the client well within 3 months
• We acted as Client’s representative.  The Lender advised what was needed for the project to be funded (more profit).  We provided several options for the client to adjust the project to fit the Lender’s guidelines, and provided funding options to make those changes.  The client refused to make the changes.  The Lender could not fund the project, as it did not fit their lending guidelines.

While Worldwide Commercial Funding and The Vitoria Group does our best to help every client, ultimately it is up to the client to bring a viable / profitable project to the table, and to make adjustments as required by the Lender for the funding to occur.  If the client had done as the Lender required, the project would have been funded.