Private Lending for Business? Quick Questions, someone had offered me a good amount of business

Quick Questions, someone had offered me a good amount of business loan that is to say from a private lender. However, the person is a broker trying to sell my business plans to the lender. One of the requirement is setting up an escrow amounting 3% of the total loan requested.

The escrow must be completed prior to the start of the application, and he guarantees that the escrow will not be touched. Is this a scam?

Thanks

Answer:
Hum... why don't you look for allowed advice ?

And maybe there's other lenders all set to invest.

Good luck !
Before you enter into the transaction,request the identity of the Escrow entity or Agent (usually a law company or a Banking Service)- READ the Escrow legal documentation thoroughly if this is convincing,Is the broker convincing ample,get opinion of
a Counsel on recourse;Else you better reclaim your 3% of the loan amount (?).
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