[Ryan Shiroky]

i am not saying to double approvals, i am saying to consider add-ons after a portion of the advance is paid...

and, yes, of course I would... and $900K would go to deals

[funding pro]

Ryan, I think you are missing a lot of what some folks here are saying. I'm not trying to question your knowledge of the industry and our business in general, but a lot of your questions and comments do not come across as someone who is very experienced and working for a "major funding company"

[Ryan Shiroky]

Ryan, I think you are missing a lot of what some folks here are saying. I'm not trying to question your knowledge of the industry and our business in general, but a lot of your questions and comments do not come across as someone who is very experienced and working for a "major funding company"

im just trying to think of ways for a fund to deter their clients from layering, thats all... it would seem like a good idea that if your client calls up for money, to try and figure out a way to get them some more money, instead of risking them stacking on you... if you have ideas, please chime in...

[JayBallentine]

im just trying to think of ways for a fund to deter their clients from layering, thats all... it would seem like a good idea that if your client calls up for money, to try and figure out a way to get them some more money, instead of risking them stacking on you... if you have ideas, please chime in...

I'm chiming in here with a bunch of wild and ridiculously crazy ideas here... Here we go!!

1. Use a tool like this on here to help merchants contextualize the overall impact of their MCA. Perhaps go ahead and get yourself a real video, maybe 3 mins in length of a real merchant story maybe, and require they log-in to view video as a condition to the closing process. "You don't watch video (software tracks), we will not wire you."
2. Inform them of what they should expect going forward and how to deal with it. Tell them how to deal with the brokers who will aggressively sell the stack.
3. Set up a system which requires the merchant log-in to his / her account weekly via a portal connected to your site. The purpose of this weekly log-in is for you to get a view of activity. Large deposit + additional daily debit = stack. Then you have language in your contract that allows you to take the whole thing (or remainder) in service of the original advance. Failure to log-in = breach = collections style engagement.
4. Work together.

We've been kicking around the idea of somehow working on a shared database where we'd contribute info on who's in an MCA - faster than a UCC can be filed for the merchant. TONS of challenges with that... NAMAA may have some ideas.

[funding pro]

NAMAA already has this with other NAMAA members.

[Chambo]

I'm chiming in here with a bunch of wild and ridiculously crazy ideas here... Here we go!!

1. Use a tool like this on here to help merchants contextualize the overall impact of their MCA. Perhaps go ahead and get yourself a real video, maybe 3 mins in length of a real merchant story maybe, and require they log-in to view video as a condition to the closing process. "You don't watch video (software tracks), we will not wire you."
2. Inform them of what they should expect going forward and how to deal with it. Tell them how to deal with the brokers who will aggressively sell the stack.
3. Set up a system which requires the merchant log-in to his / her account weekly via a portal connected to your site. The purpose of this weekly log-in is for you to get a view of activity. Large deposit + additional daily debit = stack. Then you have language in your contract that allows you to take the whole thing (or remainder) in service of the original advance. Failure to log-in = breach = collections style engagement.
4. Work together.

We've been kicking around the idea of somehow working on a shared database where we'd contribute info on who's in an MCA - faster than a UCC can be filed for the merchant. TONS of challenges with that... NAMAA may have some ideas.

This sounds like pretty much every welcome/funding call by every major and mid tier MCA out there.

[JayBallentine]

This sounds like pretty much every welcome/funding call by every major and mid tier MCA out there.

Funders are:

1. Requiring merchants watch a video of a real merchant who stacked himself out?
2. Requiring a weekly login to view account every 5 business days?
3. Showing them what the initial MCA will have on their bottom line? Like our calc does?
4. Working together to reduce the reliance on brokers for deal flow?

???

If that's the case bring on the regulators!!!

[Chambo]

I'm chiming in here with a bunch of wild and ridiculously crazy ideas here... Here we go!!

1. Use a tool like this on here to help merchants contextualize the overall impact of their MCA. Perhaps go ahead and get yourself a real video, maybe 3 mins in length of a real merchant story maybe, and require they log-in to view video as a condition to the closing process. "You don't watch video (software tracks), we will not wire you."
2. Inform them of what they should expect going forward and how to deal with it. Tell them how to deal with the brokers who will aggressively sell the stack.
3. Set up a system which requires the merchant log-in to his / her account weekly via a portal connected to your site. The purpose of this weekly log-in is for you to get a view of activity. Large deposit + additional daily debit = stack. Then you have language in your contract that allows you to take the whole thing (or remainder) in service of the original advance. Failure to log-in = breach = collections style engagement.
4. Work together.

We've been kicking around the idea of somehow working on a shared database where we'd contribute info on who's in an MCA - faster than a UCC can be filed for the merchant. TONS of challenges with that... NAMAA may have some ideas.

you forgot the point where they also ask the merchant they are being charged a fee, and reminding the merchant they their MCA has nothing to do with said fee