Activity Stream
All times are GMT -4. The time now is 07:04 AM.
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Older Activity
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Yesterday, 10:44 PMthey are in the courts i think that means they are legit https://iapps.courts.state.ny.us/nyscef/CaseSearch?TAB=name
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Yesterday, 01:45 PMAny positions after the default?
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Yesterday, 10:34 AMHas anyone actually seen them in banks?
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Yesterday, 10:07 AMZonefund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceYea they have one that promotes.
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06-08-2024, 08:10 PMridextreme replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceDo they have reps on here that you know of?
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06-08-2024, 07:15 PMAre these guys legit?
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06-08-2024, 03:41 PMZonefund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceTrue Ontap will you respond?
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06-07-2024, 09:32 PMdiditevenfund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceLot of dudes out there living 9k Vader to 9k Vader.
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06-07-2024, 09:20 PMridextreme replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceOr at least check the agreement first for clauses regarding what they classify as a default, and what he'll be learning in this industry (welcome btw) is never to count your commissions before they hatch. Build a pipe line so when one or two deals get killed you have others working for your quarter so it's not as much of a let down.
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06-07-2024, 08:05 PMThis is novo advance. Even his template is the same on his first post where he got bashed.
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06-07-2024, 06:10 PMIts your data, do what you want folks. Would you buy food at the dollar store (mcasimplified) to save money, or whole foods (centrex and salesforce). Save some $ or get fantastic security. The choice is easy.
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06-07-2024, 06:09 PMCentrex and salesforce have better security then all these servers. You ****ing moron. Even santander bank got hacked recently. It happens to the largest companies. A small crm company like mcasimplified isn't as safe as them in my opinion regarding your data.
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06-07-2024, 06:08 PMZonefund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceIf he missed 3 payments, legally, you're ****ed. You were better off waiting 60 days to see if they pay.
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06-07-2024, 05:28 PMthere are few lenders out there but no no provides a good term, 50-70 Days
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06-07-2024, 04:46 PMNEWCDAM replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceNothing about what you said even sounds right. Whether that's the way things are or not. This is how lenders X a broker out of their hard earned money. That is modern day slavery, period. There is a contract in place for a reason. Well why doesn't it protect the broker the same way it protects the funder?
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06-07-2024, 04:42 PMNEWCDAM replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceWe have that proof and sent a demand letter and are basically being ignored. We have no choice but to get a lawyer involved.
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06-07-2024, 03:55 PMFCF Fund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceTheres 3 sides to every story, so get your "proof" merchant didnt default by A) getting their bank statements B) reviewing specific terms in ISO agreement of default and acceptable remedy C) send a demand letter if you are in the right with proof.
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06-07-2024, 03:02 PMdiditevenfund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceFeel like this did not go the way OP hoped (obtain roaring support etc)
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06-07-2024, 02:56 PMZonefund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceThey gave 160 days but whats the factor rate dude? Why hide this? They obviously know what deal it is based on the info given.
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06-07-2024, 02:33 PMbrandon_ replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceIf they are missing payments within the first 30 days, you really have no leg to stand on. You're at the mercy of whoever who funded the deal. It doesn't matter if they paid it back. It can easily happen again. If you lend out $30,000 for example, and in the first 30 days the customer misses 4 payments, how are you going to feel about sending the broker a commission? Said commission will most likely have to be clawed back, and then never returned which adds to the loss that is already happening. The full bag is held by the funder... SO....Maybe they are a white label, maybe they aren't, but in either case a commission needs to be paid out and they are clearly worried about a default. So common sense, don't pay it out until most of it is recouped. You should be happy with that in all honesty. Most of the time, they will just say its in default and you're out of luck. There are 2 sides to every story..
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06-07-2024, 02:19 PMagree regarding LendSaas
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06-07-2024, 02:18 PMAgree
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06-07-2024, 02:00 PMDefaulted a year and half ago. Strong balances now. 150 to 200k in revenue anyone?
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06-07-2024, 01:54 PMdiditevenfund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceRelationships ensure you get paid. Yeah they should do the right thing and pay you, but sticking to those with strong relationships really ensures no issues.
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06-07-2024, 01:53 PMNEWCDAM replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash Advanceits a 160 day deal. They are holding it past 3 months. Are you serious? Again if they are scared to pay the broker and take the risk they agreed to, they shouldn't be funding mca deals. Period. Nothing justifies what you are saying. This merchant is paying and has paid up. If they saw reason to default them then they would've, but have not. They should've said their clawback period was 90days to indefinite right? But then nobody would bring them deals. The point is they are being dishonest and penalizing the broker for hypothetical reasons. They breached their contract and credibility, not us.
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06-07-2024, 01:53 PMZonefund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceStack the deal. Theyll def renew behind your back, so, stack it asap so u can renew the 3rd pos What was the term on the deal brother?
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06-07-2024, 01:49 PMZonefund replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceFactor? Term?
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06-07-2024, 01:36 PMFinance replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceHow disheartening to see you’re still void of common sense despite me breaking it down for you. No, I’m not with them, I’ve never even heard of them, this wasn’t about them, it’s about edifying you to teach you how to actually have enough knowledge and credibility in the future so you don’t end up in situations like this one. You said 3 months is the end of the deal? So it’s a 60 day deal with a new ISO whose client immediately started bouncing? It makes even more sense now. If you’re dealing with a lender that does 60 day deals, you think they aren’t going to hold back commissions until PIF if a client immediately starts bouncing? And your ignorance is so magnifying and potent that you fail to understand who you’re dealing with and further fail to understand lenders like that have absolutely no issue burning a new ISO if they see the ISO publicly shame them? And if it was a 60 day deal odds are it’s a default history client and you’re surprised after factoring in every aspect that they want to hold commissions on a client who immediately bounces payments? Are you serious? I guess some lessons must be experienced before they can be understood. I hope you learn, don’t be petulant and complain that you got mud on your shoes when you’re the one who chooses to work in the mud with 60 day deals. Your incontrovertible ignorance is exactly what got you here and despite receiving genuine advice, you remain engorged in that very same ignorance.
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06-07-2024, 01:28 PMridextreme replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceThey're based in Canada but funding U.S. Businesses? That should have been your first red flag.
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06-07-2024, 01:20 PMBR-Nightmare replied to a thread Ontap capital: Scamming brokers - breach of agreement in Merchant Cash AdvanceIt wasn't a reputable funder. You got screwed. Next time do better research.