Business ProfileforLaguna Point Capital LLC

Im reaching out to share my disappointing experience with Laguna Capital. Initially, when I spoke with agent ****, he suggested securing working capital for my business amounting to $120k at a 10 percent cost. However, without consulting me, he applied to several companies and even misrepresented my intentions for the loan, leading to rejections when the truth was revealed during verification calls. It was frustrating to discover that Rocket Loans approved me based on my existing history with them, rendering ***** assistance unnecessary, especially considering my current home loan with them. Its disheartening to have paid him for a service he didnt effectively provide.Furthermore, **** recommended ******* Financial lender ************************* for a home loan, who also works with Laguna Capital. However, ************************* proved unresponsive, unprofessional, and disorganized, wasting both my time and money. Concerns raised by my lawyer and realtor only compounded my disappointment with Laguna Capitals recommendations. Im deeply disappointed by Laguna Capitals professionalism and methods, which appear questionable and potentially scam-like. Its disheartening to see eager individuals, like myself, who are embarking on business ventures, being taken advantage of due to lack of knowledge and trust in companies to guide them in the right direction, especially after investing their hard-earned money. Please stir clear of ********************* and ************************* specifically if you are a new loan receiver they play on your lack of knowledge, which is a form of abuse and manipulation.

We take every customer through an extensive welcome call explaining the funding program and give several opportunities for questions during that call and anytime moving forward we are always available. We also provided a welcome packet explaining the company and programs in full detail. Once we received your pre-approvals from the lenders we scheduled a phone call going over all of the loan options where we then received your permission to move forward with the process with the amount you chose. Unfortunately we did receive declines from lenders; this was likely due to debt ratios & credit history. Through each step we communicated directly with you on what each lender was expecting and you had several verification calls with these lenders as well. As for the real estate purchase the following is from *************************. This client was looking for a construction loan and the only way we could have accommodated her is if the *** met guidelines. We looked at all the info presented and her DTI didn't meet guidelines for a regular home loan since she already owned a home on credit. The initial loan scenario I received from her stated that her *** was $650k and she needed $110k for rehab. I stated in numerous emails that the only way to purchase this home and get anywhere close to those construction funds was if the property did in fact appraiser for that amount. When the appraisal came back I notified them that we have a problem. The *** is only 399k and that would mean you would have to come to closing with the down payment and the rehab funds because 75% of $399k only leaves us at $290k. At this time the only option we have is to rebuttal the appraised value. They proceeded to question the appraisal and I stated that the finished or unfinished basement didn't matter to a final ***, it only matters to the as-is value. That isn't factored in this loan. At this point, the as is value won't be enough to cover the purchase price. Back to my request for an appraisal rebuttal. I was told that there are no comps to support the *** to make this work. That would be the end of my involvement unless we can come up with $140k to bring to closing or find comps that support the value. We have reached out to Ral Optimized which she is a coaching client of. They will reach out to provide additional coaching and hospice care advice for new start up businesses.