Results 26 to 42 of 42
-
09-27-2016, 02:24 PM #26
- Join Date
- Jul 2015
- Posts
- 1,202
-
09-27-2016, 02:27 PM #27
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
09-27-2016, 02:31 PM #28
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
09-27-2016, 02:36 PM #29
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
BTW- adjustable rate mortgages were regulated and the crisis still happened... then the bail out...etc. BUT then this happened a few years later .... http://www.philadelphiaherald.com/in.../sid/224972439
What will happen to us?Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
-
09-27-2016, 03:30 PM #30
would love to see one of these ISO's try to wiggle out of a ONE BILLION judgment, much less 17 billion.
-
09-27-2016, 11:18 PM #31
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Sean, thanks for the intel and you are focusing on many of the critical points. Let me ask you and Isaac this, and feel free to respond off-line. Is there an effort to create and promote best practices through the CFC or is it just a recommendation for Congress/regulators to take a "hands off" approach? Will the CFC support an initiative to improve cost disclosure and transparency?
Additionally, in an effort to "come together" as a space that Isaac alluded to, how do we address the stacking problem? Everyone except the stackers (and the brokers that are only selling high risk paper) would agree that high risk stacking (magnified when it occurs right after the first position deal or multiple positions) is not only damaging to the businesses, but it's also raising the cost of capital for ALL small businesses. Is the expectation that this is an issue that we can collectively address through self regulation?
I sincerely am interested in feedback, as I agree with the need to work together as an industry... when it comes to the products we can defend (and I'm not focusing on price, i'm focusing on practices). Let us know what you guys are doing to implement "best practices".Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
-
09-28-2016, 10:25 AM #32
- Join Date
- Sep 2014
- Posts
- 430
You'll never get a straight answer from Isaac. He is always here when it time to boast or champion his business, but there is no way in hell he'll go on record saying that stacking is bad, because that is his business model. He'll also never go on record saying stacking is acceptable, because that would be admitting guilt. There's no winning for him. I'm sure he'll pop up in another thread though posting pictures of some boiler room like shenanigan in his office raffling off piles of cash.
"Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
-
09-28-2016, 11:15 AM #33
CreditGuy What Company do you work for?
-
09-28-2016, 12:27 PM #34
- Join Date
- Sep 2014
- Posts
- 430
Why does that matter?
"Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
-
09-28-2016, 04:34 PM #35
Instead of sticking our heads in the sand and hoping it all works out in regards to regulation We formed the CFC and are actively engaging senators, congressman, AG's etc. As many of you have said there are a lot of groups our there pushing their agenda and my ideal scenario would be to find a way for all of us to work together towards a common goal. When we were in DC last week we met with Steve Denis and he felt that would be the most effective way to tackle this.
Creditguy I don't know who you are so I am pretty sure i don't have an issue with you but feel free to reach out to me anytime if you would like to discuss more in detail what the CFC is all about. Here is my cell number (917) 743-8369
-
09-28-2016, 05:07 PM #36
- Join Date
- Sep 2014
- Posts
- 430
Thanks for proving my point, Isaac.
-
09-29-2016, 12:10 AM #37
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
-
09-29-2016, 07:13 AM #38
Commercial Finance Coalition Tells MCA Industry Story on Capitol Hill
We are actively working on our best practices list and will have it available ASAP!
-
09-29-2016, 08:10 AM #39Karen37aGuest
I would like to join these organizations. I am a small player in this industry but its like undercover boss, you really do not know whats going on until you do all the jobs or functions of this business and see all sides of the fence.
IMO. I do not think people that are strong advocates of A paper alone..OR D paper alone, have the best chance of making the best arguments because people see their world from their perspective and theirs alone.Last edited by Karen37a; 10-11-2016 at 03:19 PM.
-
09-29-2016, 08:36 AM #40Karen37aGuest
BTW. Just to put this responsible funding idea out there again, and the opposite side as a ISO/Broker
I have begged, harangued, pouted, pleaded, ..etc etc to the underwriters/ lenders/owners to fund ahead of schedule, renew early, payoff another lenders advance ...( so the numbers would not be in the exact range for 100% responsible funding wherever that number is ).
So I myself am not miss perfect. But where is the line in the sand that you do not cross? and where is your line in the sand?
These are the decisions that have to be made internally so no one ever steps in ... IMOLast edited by Karen37a; 09-29-2016 at 08:39 AM.
-
10-13-2016, 07:37 PM #41
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
And this is why these high risk companies can't be the "face" of the industry. Thankfully, this author is smart enough not to paint the whole industry with the same brush -- but not everyone understands the space well enough to understand how different an OnDeck is from a Yellowstone. And for those that questioned my view that those Yellowstone videos do nothing but make them and the rest of the space look bad, read the article. All they are doing is adding extra fuel to the fire.
https://www.nerdwallet.com/blog/smal...nding-brokers/Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
-
10-14-2016, 09:38 AM #42jotucker1983Guest
Carl,
I love your insights buddy, but I could go through that Nerd Wallet article and pick it apart piece by piece with information that was just either flat out wrong, or an exaggeration.
- What I'm against is the fraud in the industry and the excessive stacking.
- Our product is expensive and I fundamentally do not believe any merchant takes out our product because a salesperson "walked through the door and smiled at them". The merchant was in need of capital and took out the product.
- Maybe the question ought to be, why is it that the traditional system isn't serving these merchants, and an alternative one has to be developed with high costs (due to not having the leverage that traditional systems have to handle losses) in order to accommodate them?
- The merchant is growing and needs a $30k piece of equipment. Leasing is determined to not make sense for the merchant or maybe the merchant can't get approved for leasing. No traditional bank or finance company wants to loan the merchant money. So "John Tucker" says he'll do it for $30k over 12 months with a 1.25 cost factor, with a 10% holdback on his V/MC. The alternative is to just not invest in his business and lose out on the growth/profits which also causes the economy to lose out on jobs/tax revenue.
Why doesn't Kevin Voigt of Nerd Wallet stop making goofy articles, setup his own platform, and lend the merchant some money then? By all means, Kevin Voigt, if you feel you can lend that merchant a $30k deal with a low-interest rate similar to the bank, then get your legal paperwork in order, and go right ahead! Take the business from me lol! But we know he won't do that.......
Similar Threads
-
Sustainable commercial finance model?
By SteveFinServe in forum PromotionsReplies: 0Last Post: 07-07-2016, 10:57 PM -
Business Finance Companies Visit Capitol Hill
By isaacdstern in forum Merchant Cash AdvanceReplies: 2Last Post: 06-17-2016, 02:19 PM -
Interesting On Deck story
By AlexSMF in forum Merchant Cash AdvanceReplies: 19Last Post: 06-17-2016, 12:57 PM -
Possible Magazine Story - Be an industry mentor
By Sean Cash in forum Everything elseReplies: 0Last Post: 06-24-2014, 03:15 PM