Yanni S.
Terrible Communication & Misguided Representation
I reached out to Daniel Sobin to get help for a commercial loan here in New York. He started off very friendly and responsive. I sent him ALL the documents he requested in a timely manner. A day or two after sending him all the requested information I mentioned that my client had an offer (not one that he was going to take, but an offer) as I like to make sure we are all on the same page. He told me within 5 minutes of mentioning that offer to him "that sounds like an offer we cant beat, he should take it". Immediately after that I requested some basic information on what his company could offer because my client was not entertaining the other offer, it was merely just presented to him. I followed up via multiple phone calls and emails to Daniel about what can his company offer or just to even get back to me! I had sent him business tax returns, personal ones, financial statements and after a week of trying to reach him I felt that his fiduciary duty and communication was just atrocious. I feel like I wasted valuable time of my client and mine in trying to get him everything he needed, only to be ghosted by him via email and phone call. I would not recommend going to Daniel because it seems like he is only there to help himself and not the client.
Response from Select Commercial Funding LLCMar 25, 2024
I am the President of the company and I take all reviews very seriously. Thank you for your comments. I reviewed your loan file carefully and I interviewed Daniel at length. Here is what I found: You submitted all of your documents by Friday, March 15th. You emailed Daniel on Monday, March 18th saying that you had another offer. Daniel responded by email that the offer you received was better than anything we could offer and suggested that you accept. The reason that we could not beat that offer was because the borrower's personal tax returns showed losses in 2020, 2021, and again in 2022. Given those losses, and the current lending environment, we did not have a loan program that would work. Daniel responded by email again on Tuesday formally declining the loan, but it appears that his email did not go through. We apologize for any problems with email - our intent was not to ignore you. Daniel is always very responsive and has never been accused of ignoring a customer. Daniel does not earn any money by turning loans down. He is a commissioned salesperson and works hard to make loans! Again, I am sorry that you had a bad experience, but rest assured, this is not how we conduct business.