[dumbmoney413]

Does anyone else find it interesting that lenders on the Supervest platform are able to receive syndication from Supervest without any verification performed by Supervest concerning whether the deal being entered is an actual deal? As a lender you can enter into the system all of the deal specifics simply from your imagination, such as the following imaginary deal: Big Dawg Construction, 4 years time in business, 655 FICO, 1st position, 7% of gross sales, EIN 34-7233955, located in Ohio, $25k advanced, $37k RTR, $1,400/wk, 15% commission. Hit 'submit' requesting 10% syndication and the next day have in your account $2,875 from Supervest. Supervest will not ask you for a copy of the contract (redacted or otherwise) either upfront or at the end of the year as part of a random audit of even a few of your deals. As for Big Dawg Constructions imaginary performance - a few weekly imaginary reports with remittances back to Supervest before Big Dawg unfortunately defaults. It's the MCA business...defaults happen. Now imagine dozens of lenders repeating this process thousands of times.

Before you feel bad for Supervest remember that it's not Supervest who is harmed in this scenario...it is mom and pop investors who thought they were, according to Supervest's homepage "Accessing the exclusive world of Alternative Investments" backed by "Due Diligence conducted by a best-in-class team of professionals" who "analyze millions of deals every year so you don't have to," etc, etc, etc. Supervest skims their 7% 'servicing fee' from the mom and pop investor regardless of deal or portfolio performance.

Now the bright spot in all of this for the mom and pop investors who are in deals on the Supervest platform, is that in the MCA space there are zero bad actors. The honor system is alive and well. The dozens of pop up funders who advertise daily on online forums looking for "8th+ positions only" and who "specialize in lending to active defaults" and who "fund the unfundable" - these are all good, honest people. In the MCA space you can rest assured that there are no convicted felons, not one person who has run another funding entity into the ground only to rebrand, no disbarred attorneys, no one who brags on public forums that "it's all about the commission" as they peddle a 9th position, no lenders with FTC injunctions and certainly not anyone who has been barred from the securities industry.

Laissez les bon temps rouler!!!

[Yankeeman07]

So you reside in Louisiana and are griping about the MCA Industry ?

BTW - Supervest comes under the heading of suckers born every day IMO !

[zalman]

Very well written and straight to the point. People need to realize that in the current economy safe money has a return around 6% (leaving money in a bank account or buying treasuries) making your opportunity cost at least 6%. And the S&P 500 has an average return of 6.45%.

People need to ask themselves what type of return do you need to make for it to be worthwhile to give a stranger your money?

What may be helpful over here would be Supervest publishing each Funders average return over time....

[Shorebird]

Well, so far no investor fraud complaints against these guys, so they must be performing.

[Cali Working Cap BJJ]

Hey Dave, whats bad about Supervest? been dealing with them for years? *As a syndicator