Business Loans, commercial mortgages, residential mortgages

2 clients that hated our service

It’s not every day that a company will share the complaints it receives from its customers but I thought it would be a great opportunity to address some of the things we deal with that people may not know or care to know.  Over the past 12 years I can assure you that not every client we have done some work for has been our biggest fan.  Sometimes we have made mistakes, other times we have addressed situations that in hindsight should have been handled differently.  We are people who are subject to shortcomings and failings like anyone else but we always look to make the best decisions we can to help our clients do more.

Here are the excerpts from 2 customers that seem to have hated our service:

“..if Bridge Cap were the only capital Co in the world I would sell my kidney on e-bay to raise the money..”

and

“Even if you’re company could offer me the best deal out there I wouldn’t take it, do to lack of trust and faith of have in bridgecap to uphold there end of the deal..”

Without divulging the details of the persons who provided this feedback and the circumstances surrounding their request for our help, I thought these comments both spoke to a point that many clients fail to understand or that we have failed to communicate to which is that we are not a bank or lender.

It is important to know that we act as brokers or as an intermediary between banks, lenders and borrowers.  As such, we are never in a position to grant an approval much less write a cheque to someone looking for money.  We earn our living by doing the work and the tasks associated with preparing and packaging mortgage and loan requests that are then presented to the banks and lenders that can approve and fund them.  It’s natural of course that we would receive the frustration of clients who may not like the response they receive but being a messenger is not always a glorious job – sometimes you get caught in the line of fire.

For those that do not know, banks and lenders having a saying “a deal is not done until our cheque is cashed” meaning that even if you have an approval and even if you meet your lawyer to sign documents and even if you believe everything is done – it’s not.  Not until the bank or lender has released funds.  Nowhere is the golden rule more applicable then when dealing with banks “they with the gold make the rules”.  We work within the parameters we are given by a bank or lender but ultimately they have the final say.  It can be frustrating for us and we empathize with clients who get frustrated as well.  Banks and lenders can arbitrarily change their decisions whenever they want and often times the management structure of a bank or lender means that many different people can influence the outcome which can further complicate matters.  I don’t hold this against them as I understand that the regulations and rules that they have to adhere to often times are driven by government policy.  Needless to say there are many factors that can result in a client not being happy with the results they have received from us.

Maybe I will post some other complaints at some point in the future but suffice so say that some you win and some you lose.  We try very hard to learn from the ones we lose and look to never make the same mistakes twice.  I wonder what types of complaints other companies in a professional service business receive and whether or not they post them for people to see.

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