If you are considering doing business with this company for private equity financing, think twice. They will ask for a "good faith deposit" under specific language in their agreements which is deliberately worded to make you believe that if they do not achieve your financing, the deposit will be refunded.initially they delivered us a term sheet, later modified to something within reason and requested a "refundable" deposit. They are friendly until they receive your money and then the honeymoon quickly becomes a hangover. Our experience with them was shocking to the point of feeling robbed at gunpoint.
It is our opinion that this company deliberately and intentionally commits fraud against its would-be clients for personal gain. Richard Tauber, Berma's President, is the most unprofessional person (worded nicely) I have ever dealt with and I would openly warn anyone doing business with him or this company to avoid paying them any money upfront money regardless of their promises. No private equity company worth their salt would ever ask for a good faith deposit.
If it were not for the absence of negative consumer feedback we would never have engaged them but I suspect that they prey on vulnerable elder borrowers and brokers who do not have the means to stand up for themselves and who do not report their horiffic experiences.
Berma are brokers and not traditional private equity investors. While I'm sure they have brokered successful apartment loans between lenders and perhaps desperate borrowers in the past, they do not have the wherewithall to represent a decision making lender in this process and should not be relied on as a lender.
Don't be ripped off by this sic.
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