2 reviews about Medfin

Anonymous
verified email - 26 May 2016

Perhaps medfin is good for finansing a small 2000$ loans for medical practitioners, however, if you are applying for a much bigger loan, i.e. construction loan, my advise is, do your homework and be prepared that the loan pre approval may turn to be rejected when it comes to real money. I learned my lesson, as I ended up spending about $45000 on preparations after receiving the pre approval from medfin last year. However, later the project was rejected without any serious explanation given apart from "Medfin does not deal with loans of such size and does not fund building projects beyond one-doctor rooms".
I applied to Medfin for funding a 2 million dollar medical building construction a year ago and after several meetings with them and presenting the business plans etc, received an official email of pre-aproval. I also paid medfin $1500 dollars for valuation. So everything was looking good for us until the actual day when I had to go ahead for formal papers and approvals of funding. By that time I had spent around 45000$ in preparations for Developmental application etc.I received a single phone call from their consultant advising that medfin never funds such projects. That was it.I understand that lending brokers, such as Medfin, are not under any obligation to provide the funding until a contract is physically signed, but this experience left me with a sense of "do not trust lending brokers" until you get the money. I am pretty sure there are some honest ones around.

verified email - 22 Jul 2011

Needed finance for a new server, tried other finance options before where you almost need to refinance your house to get just $2000. This company had finance arranged within 48 hours with great repayment terms and conditions.

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