Was referred by another individual that James Pater was a good loan broker for businesses. We met at restaurant outside Doylestown were he stated that he worked with a number of banks and was able to obtain large business loans. Explained the nature of the loans we were looking for and went over our business plans. Mr. Pater stated he would be able to help but would need more info and a large deposit (5 figures!). Meet him a second time and gave him info and deposit so he could proceed. We should have known it was a scam as the mans web site was not active and we could find very little info on him. We only went ahead with it because our company was in a bind and needed the loans rather quickly. After two weeks he called and state he couldn't do anything to help and would not give back any of our sizable deposit. Due to our faith in him saying he could acquire the loans we stopped working with another source for the loans and consequently lost the business deal we were involved in. We have talked to others and were told of this type of scam after the fact. There are people out there that prey businessmen that are in a tight position and ask for a large up front deposit and make promises that they won't deliver on just to walk away with a sizable deposit. Beware of giving this man a large deposit on his promises!
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