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Important Query

 
 
abby02
 
Reply Thu 24 May, 2018 12:02 am
We got a loan from a fund in CA which specializes in the giving loans to startups. We had to pay 14% interest plus options if we get more outside funding. Then the same fund signed a contract with you to help us raise money from a VC fund where they were to get success fee from us of 2% if they can do that. Does anyone know legally can they do it. We hear that they need to have some permission from the state of California to be able to give loans to the company and with that, they are not supposed to take a fee or even help companies raise funding.
 
jespah
 
  3  
Reply Thu 24 May, 2018 05:57 am
@abby02,
Going to a lawyer and actually paying for competent legal advice is an awesome way to get your question answered. And yes, I realize you probably don't have too much $$ as a startup. But pay anyway. After all, you wouldn't want to give your goods and services away for free, right?

So why are you expecting people in the legal profession to do so?
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