Parklane Commercial Lending, Inc.

Has anyone complained about the above or their President Alyson Cesarz? We have received an LOI looking for a large deposit to be set aside for reimbirsement of expenses in case the deal is rejected.

Hi and welcome to Scamwarners.
I've looked up http://parklanecommerciallending.com and get

Updated Date: 03-oct-2009
Creation Date: 02-oct-2007
Expiration Date: 02-oct-2010

Scam sites are usually set up for the minimum 12 months. What is very strange though, is that the "Contact us" page shows only an email address. What large company doesn't show its address and phone numbers on its website?
Can you give more information please?

I've seen plenty of scam sites set up for two or three years so that length of registration isn't the best indicator.

There is information about this site listed here, as a loan scam: http://www.credit.com/forum/posts/list/80.page

There is no where on the site where I can find an actual location for this supposed business. I did see a reference to "in The US" in some of the text. They are also claiming to be a bank by their information on this page, their "private banking page": http://parklanecommerciallending.com/5.html

The registrant information doesn't appear to be consistent with a large financial institution at all:

registrant-firstname: Alyson
registrant-lastname: Cesarz
registrant-organization: Parklane Commercial Lending Inc
registrant-street1: 6617 Park Ave
registrant-pcode: 48101
registrant-state: MI
registrant-city: Allen Park
registrant-ccode: US
registrant-phone: +1.3139289840
registrant-email:

A reverse search for that phone number does show a listing for ParkLane Financial: http://www.whitepages.com/search/Revers ... 3139289840

But a Google search isn't instilling much confidence in me for this supposed lender. Have they asked you to pay any fees? I'm not sure what you meant by this:

We have received an LOI looking for a large deposit to be set aside for reimbirsement of expenses in case the deal is rejected.

If this means they have asked you to put up any money, I would say that this is a scam/advance fee loan site. With all loan scams, please be wary of ID theft if you have sent them information. Please read this information about advance fee loan scams: viewtopic.php?f=35&t=3161

Here is some information from aa419.org regarding bank regulators for the United States that you may find helpful:

United States

Bank Regulators

Financial institutions include banks, savings and loans, savings banks and credit unions and thrift companies. Each state has its own regulatory agency with the authority to charter, license, or regulate various types of financial institutions. No two states regulate financial institutions in the same way. Not all financial institutions within each state are listed on their state web sites. Some state pages will give web sites of the banking institutions. Some states list only State Charter Banks and other States list all banking institutions. Included is the Business Entity Search that should locate all financial institutions within the state. All sites do not have a direct link and you must copy and paste the address.

Banks in the US can have either a Federal charter, or a State Charter (or both?) The Office of the Comptroller of Currency is the federal regulator and its website is here http://www.occ.treas.gov/ This might be a better entry point: http://www.occ.treas.gov/customer.htm

Banks, credit unions, and savings and loan associations may choose either a Federal or a State charter. This applies to foreign banks as well. So in the US, one must first look at the Federal regulator and then look at the particular state regulator. Federally chartered are identified by "national", "N.A.", or "national association" appearing in their titles.

I have done business with Parklane for quite some time and I think you have your facts wrong. To my knowledge their LOIs have NEVER asked for, "a large deposit to be set aside for reimbursement of expenses in case the deal is rejected." If the deal had been rejected, you never would have been issued an LOI in the first place. Second, they never ask for up-front money. However, they do require every developer to make a deposit, like a performance bond, into an account that is in the developer's name. The purpose of the deposit is to insure the developer's performance during construction. Once construction is complete, the deposit is returned plus any interest that has been earned. If the developer (or Parklane for that matter) decides not to go through with the transaction, the deposit is fully returned. End of story.

Th nature of the transaction isn't really the point here. The doubts that Jillian I have, concern the nature of Parklane itself. Its website tells us little and there is very little to be found on the Internet. Very unusual for a business large enough to provide commercial loans.
We encourage posters to be anonymous on this forum, but the downside is that it's hard to assess the value of testimonials. So can you please pm Jillian or me and identify yourself?

I have been working with Parklane for some time and have had closings with them. They are a real estate arm of a bank so they will not appear to be some large financial institution. They handle the development deals only. I am very familiar with their LOI's and have had several deals get rejected. My clients have gotten their money back within 10 days of notice.

Their program has recently changed so if your LOI is old, perhaps you should call them and ask for a new one. I just had a new one issued to me and the new language is very clear that the deposit is in the clients name only, it is 100% unconditionally refundable regardless for reason of not funding and they do not keep anything. The old LOI's were somewhat confusing and Parklane was instrumental in getting the changes done so that it is now easier to understand. They are very easy to work with, I would encourage you to simply call them and ask questions, and then make your decision.

They are a real estate arm of a bank

Which bank?

There is nothing on their website that can be cross checked.
The only contact is an email.
This is all a little vague for "a real estate arm of a bank"
The mortgage brokers are asking questions too. http://forum.brokeroutpost.com/loans/forum/2/276555.htm

Strange how we get two satisfied customers in on the same day three hours apart and yet, I can't find one single happy customer anywhere....

It seems that they have updated their site with contact info. The adress and phone number seem to check out, but I don't know if I would want to loan something from this...(The red sign reads Parklane Financial, Inc.):

Their corporate offices are located at 2000 Town Center, 19th Floor, Southfield, MI 48075 (see below). The picture you have posted is of their Allen Park office.

You know, these online forums crack me up. There isn't a single broker, borrower or lender here, or anywhere else, who has had a direct negative experience with this firm, yet you have these postings from individuals who present Parklane as if they have defrauded a long list of clients. Hasn't happened and isn't going to happen.

I have worked with them since 2009 and they have been an absolute joy to work with. They operate with complete transparency and integrity, despite how the poseurs on this website and elsewhere might try to mis-characterize them. To contact me directly, email me at: [email protected].

I haven't looked into this at all so I am not offering an opinion on whether or not this company is fraudulent but I do want to point out that we can only go by the information that is available to us. if you provided us provable information we would be happy to include that too.

Please understand that there are many fraudulent lenders out there and we will not endorse any lending companys, just point out indicators that they may not be legitimate and if there is proof will will call it a scam.

Can anyone provide Parklane address? i can get their credit report with either Coface or D&B and if they have done lasrge deals, some information will come in the credit report.

You know, these online forums crack me up.

If you mistakenly believe that we don't have a vast and wide range of expertise then you are sadly deluded commercialdeals and to drop a comment like

However, they do require every developer to make a deposit, like a performance bond, into an account that is in the developer's name.

......to which I would respond - a dog is a dog no matter how much you call it a cat. Money held in an account in a personal name isn't anything like a performance bond. In the USA you prefer standby letters of credit but money on deposit isn't like one of those either. My knowledge of the subject is both detailed and voluminous.

I love t & c's

This is from the 'Disclaimer'

Furthermore, PCL is not a Securities Dealer, Broker or US Investment Adviser, or certified public accountant. Nothing contained herein is a solicitation for any purpose in any form or content, nor an offer to sell and/or buy securities and or properties. Any completed transaction is strictly one of private placement, and is in no way relying upon, or relating to the United States of America Securities act of 1933, as amended, or related regulations.

... and what, may you ask, is one of those

http://www.investopedia.com/terms/p/privateplacement.asp

What Does Private Placement Mean?
The sale of securities to a relatively small number of select investors as a way of raising capital. Investors involved in private placements are usually large banks, mutual funds, insurance companies and pension funds. Private placement is the opposite of a public issue, in which securities are made available for sale on the open market

.

As it says that "any completed transaction is strictly one of private placement" then it would appear that the only deal on offer is one of clients making essentially unregulated investments with them. That would appear to exclude the likelihood of any payment securing finance.

They aren't finance brokers at all commercialdeals, because it says so in their disclaimer.

If we can amuse too, then we are truly blessed.

Gomer,

You are a perfect example of the kind of person I wrote about a year ago. You clearly have not had any personal involvement with this company. But, somehow you feel you have the right come into a forum like this and post comments about a company you know nothing about.

Well, one thing's for sure, you certainly have chosen an appropriate screen name.

All we have done is point out some inconsistencies and the lack of any checkable information. Dotti asked which bank it is an arm of last year. No answer.
You gave your email address as [email protected], an impressive looking address and I would expect a website. But -

Google Error

Not Found
The requested URL / was not found on this server.

So what weight does your testimonial carry? We can't even check you out.