My company provides business loans and merchant cash advances. I met Ramit Arora at the ETA Trade Show in Las Vegas. This event was an opportunity for providers, vendors, and brokers to meet each other and form new relationships. When I met Ramit to discuss one of my client’s files, we determined that his company might be able to provide myself and my client what he was looking for. Subsequently, I placed an application through his company, at which point, I requested an ISO (broker) application, which is a standard practice for brokers and lenders who do business together. Ramit insisted I would have the application immediately. We also agreed on what I would be compensated for placing this loan through this company, and I requested this in writing as well. A couple of days later, I return to Philadelphia to remind Ramit of my request for signed paperwork, and that day, and for almost 2 weeks, I kept hearing on a daily basis “”you’ll get it today””. At this point, I was beginning to lose trust in Ramit, so I began looking for other avenues and previous offers I received for my client. When Ramit finally provided the broker application, I found it to be the most ridiculous document I had ever seen. It showed a commission “”range””, but didn’t state the criteria for that range, then even stated that he can change the compensation at any time without notice or permission from the broker?? Worst of all, he sends a contract in a Word document!! What a moron! (Anyone who would like to see this document, I’d be happy to show it to you. Just make sure you’re sitting down when you look at it!). Here’s the icing on the cake: As I was reading this, I attempted to confirm our agreed upon compensation, and he tells me that he’s not going to honor his word! The result of this was obviously me telling him I would not accept his contract and told him verbally and in writing in no certain terms, DO NOT contact my customer. I informed my client that I didn’t trust this company and that we’d look at other options, and of course, as his broker, I, too, presumably lost credibility with my client. Despite this fact, my client asked me to keep shopping for the best deal, but in the meantime, was continuing to talk to reps from Ramit’s company behind my back. (Can’t say I blame him for trying to get the best deal for himself, even if I didn’t like it, being his broker.)