Episode 7: Borrower Beware- False Promises

In this episode of The Intelligent Borrower, Todd Stichler dives into one of the most common, and costly, traps borrowers fall into: believing promises that aren’t actually documented. From “starter loans” to verbal guarantees about future funding, Todd unpacks how lenders can use the idea of “phase two capital” or “graduation funding” to get borrowers into loans that may never lead anywhere else.He explains the critical difference between what is suggested versus what is contractually guaranteed, and why intelligent borrowers must make decisions based on structure, documentation, and certainty — not hope or sales language. This episode is a reminder to slow down, ask the right questions, and understand exactly what you’re agreeing to before signing anything.