Advertising is a strategy that uses tactics to get a result and every business advertises the best possible outcome and the least expensive price, cost or rate to “Get you in the door” so that they have a chance to make the sale.
The real truth is that they are advertising what is possible but then they have to determine if you qualify for the advertised rate, terms and deal structure because not everyone does. What they are advertising (price, cost, deal structure) has a mold/structure and if you or your business do not fit the mold/structure then that is when things change, and typically not for the better.
There is no way to know what a person or business qualifies (as far as financing) until we have all of the details of the deal. It is impossible to know this without information. Many things affect the rate and deal structure, such as value of the assets to be pledged as collateral, personal credit score, business Paydex score, time in business, revenue, age of the assets and the list goes on and on. These factors are not included in the advertisement with the lowest and best interest rates because then, no one would respond to the ads. The businesses that advertise like this, and they all advertise like this, are not being misleading. The deal that is advertised can be had but you must qualify for it exactly as it is outlined,
otherwise everything changes.
That’s not the way to do it.
At Patriot BFC we are aware that every deal is unique and that the best way to treat a client is to be transparent and up-front. We review each deal and take into account all of the factors that will affect the interest rate/lease factor and the deal structure. Even then we do not quote a price, rate or deal structure, we submit it to the lender/lease company that is the fit with the client and wait until the term sheet/approval comes back. Then, and only then will we present the real numbers and a real deal to our
clients.
We work with facts, term sheets and the offer that is being made, not an offer that “might”
happen if you qualify for it.
