Northrim Funding Services 120th Ave, Bellevue

We are 20M OEM looking for in a line of credit for an asset lender. The purpose of the small loan was to help buy out another lender. We first spoke with Northrim funding in 7/2016 and received interest in funding. We sent in 3 years of financials and in turn a term sheet was provided a month later. The day before the loan was set to fund Northrim pulled out of the deal. We heard second hand they did not like last years financial statements. This information they had for a month before they issued their term sheet. Since they received no new information clearly they had not looked at the deal with and seriousness throughout the process. We were able to move forward with our larger buyout as this lender wasn't critical. That said they certainly could have been. We had to turn down two other lenders in the process. These guys are absolute jokers and no serious investor should condsider a term sheet from them. Shocking lack of professionalism, they weren't even capable of calling/emailing mgnt to let us know their decision.