Q: Unpaid 2% success fee on $4M loan. Jurisdiction: GA (contract), SC (client), or FL (property)?
I’m seeking advice or a pro bono attorney for a contract dispute. I’m a business consultant who helps clients with alternative debt financing. My client, a mental health doctor in South Carolina, signed a success-based fee agreement with me for either a flat 2% or 3.5% minus any lender referral fee I received. While he didn’t select an option, the agreement, governed by Georgia law, states payment is due upon funding.
Initially, he wanted to consolidate debt for factoring but later claimed he no longer wanted to factor and didn’t need a loan. I later discovered he closed a $4M loan w/ my lender. I invoiced for the lesser 2% fee ($80,000), but he claimed the lender had already paid me, which is false, and ignored all further communication. My Troutman Pepper attorney advised, sent a demand letter, which was also ignored. When I followed up, he claimed I can’t charge for an SBA loan. I am not an SBA loan originator.
Should I pursue this in GA, SC, or FL? Any advice is appreciated.
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