Activity Stream

It only takes about 30 minutes for every single thread to become a promotion zone for every funder.... Some people are actually posting to get honest opinions from others in the industry, not to get inundated with every funder and their mother promoting how great they are and how you need to send them deals...

Hello, I understand your frustration with not being able to get funding for your clients in trucking, construction, and first positions. This is something I can definitely help all brokers with. We fund multiple first positions each week, regardless of the state. We handle trucking and construction files frequently and strive to secure the approvals our clients are seeking, and we succeed. We also fund prior defaults because we believe in second chances and understand how it feels to be caught in a bad deal. While the industry might be experiencing challenges right now, we are here for the long run and are committed to getting clients the funding they need. I hope everyone has a great rest of the day and weekend. Happy funding! Best Regards, Sam Roth| Managing Partner Email: Subs@Electrafunding.com Phone: 516-757-8601

Well it wasn't half the day, but my chef was putting together a meal for life and style magazine, so I had a little time for a stimulating mind workout. Glad I was able to expand the code and logic on your little princess. What email should I use?

I appreciate the convo and advice! Much success and great day.

Not anymore! :p

This thread is about Instafund, not "Instafunders".

Bro, I know where you're coming from: You defined "expectation" wrong and therefore made all MCAs into loans. Just because you don't understand where I'm coming from and you don't have the energy to read a thought-out argument, doesn't make my logic circular. You clearly don't do much debating and just likely just watch news commentary about politics with lots of name-calling. You still haven't double-checked me with ChatGPT. I'm telling you, if you start peddling "loans" at 125% APR, you will get in trouble.

Hey, thanks for your interest. I'd be happy to send your our guidelines! Shoot me a DM with your email address. LinkedIn max funding is out of date, website is correct. No internal sales team, all of our business is ISO generated. Not sure what you mean with regards to my LinkedIn, but my position has not changed since InstaFunders' inception! Feel free to shoot me a call, email or DM me for any additional info.

Bro I didn't even read your rebuttal because at this point if you don't understand where I am coming from and can't provide some type of value other your circling arguments then Im out. i got those deals funded with a MCA Loan.......end of discussion.

It "could also" - yes, but what I pointed out, and you don't get, is that it's not a proof either way. Previous case law in NY has clearly stated that it's not a loan. Like I keep saying, if it's a loan, then it's usury and illegal. If MCAs are legal, they cannot be in the category of loans. What is established case law with precedent in NY state is that an MCA is not a loan. https://debanked.com/2023/02/new-legal-challenge-to-mca-legality-in-new-york/ You have to also define the word "responsible". If he is responsible because of fraud, or if he's responsible to forcibly pay it back whether or not there's a business in the mix? There may be a level of responsibility going on, but that level will define if it's a loan or not. Not all responsibility creates liability. Next, future receivables is not fancy jargon. It's a defined term that is approximately not-yet-earned income. In answer to your question: I would never lend money to someone who I didn't expect to pay. Otherwise, it's called throwing money out windows. The correct term of discussion is "obligation" to pay. With a loan, there is an "obligation" to pay no matter what the future may bring about; an MCA there is only "obligation" to pay as long as what I purchased (the future receivables) are being generated. "Expected" to come back is an assumption and investments are also "expected" to profit. The difference is that investments and futures and MCAs are not "required" to come back. Nothing is 100% guaranteed, but a loan is "secured" by the person, a PG, his house, whatever, and an MCA is not "secured" by much other than the hope that the company will remain in business. With a loan, I don't care if their company has gross revenue anymore. Let them take it out of their savings/real estate/inventory/shirt. If I lend someone a $100,000 mortgage, I DON'T CARE if they're profitable on the deal or not, I care that I can collect my $100,000 (+interest). That is not "future receivables", that happens to be a secured loan. An unsecured loan means that I can't directly foreclose on their real estate, but I can certainly sue them, and I will try to forcibly get them to sell their assets to pay me back. I'll be more explicit: I don't give a heck about future receivables once the loan is made. Dip into your savings, go get a 2nd job, I don't care, just pay me principal (and interest, if it's not an interest-free loan). With an MCA, if the merchant is a billionaire, but the company venture went bankrupt (i.e. some communists came and burned the store down), the MCA that the funder gave him is lost. You're never going to agree? You don't have the ability to be wrong? If you specify which type of "expectation" you are referring to, then I think it will be easier to agree. Your opinion is either uninformed or incomplete, because NY state disagrees with you, and if you start peddling loans and charge 50% APR, you're going to lose the case in court and potentially go to jail.

Hey there, chatbot champion! You really went all out on Jenny, didn't you? I'm impressed by your dedication to exploring what this AI can do. That's some next-level curiosity, so much so that you even burned half a day on it! Now I know why you're invoicing me- lost wages at your real job, because you took so much time off to beat up my digital chat bot lol Thanks for giving the bot a real workout. It's users like you who help push the boundaries of what's possible. Keep that creative spirit alive.

A couple of items: -Deposits are sub $3Mil. What is monthly revenue? 7-8Mil of AR seems high unless the revenue somewhat matches. -Why would a subordination be needed if the MCAs are paid off? Typically the factor would be in first lien position and others would subordinate to the factor. We don't factor medical receivables. There are a few companies out there that do, but as described makes no sense thus far and somebody needs to look at income statement, balance sheets, and run a lien search.

but I am not ever going to agree that something that was given to me with expectation of me returning is not a loan just my personal opinion and you don't have to agree. Appreciate the banter. Leave the business asap - You are clueless - the reason that MCA can be sold at a FACTOR RATE" vs an INTEREST RATE is it a purchase of future sales without a specified repayment date. That is a true MCA - read and understand any contract from any funder in the MCA market. Truth be known - a merchant cannot default on a true MCA if their revenue decreases.

I 2nd what Steve suggested - Alternative, walk your potential client to the mental doctor :)

What type of buy rates do u offer? Terms? Holdback % max? Why does your website say you cap at 500k, and LinkedIn says, at 2.5mill. Do you have a sales a team (your LinkedIn makes it seem like you've been a sales rep there, did you switch to being an iso rep?)?

There's many isos with your name. I've also never seen you guys in a deal.

TVT is a great one to pitch when you want to cross collateralize and most C Paper funders will look at that as long as you have all the docs and can prove that all will be well. Paint the picture for them and make it make sense. Should be something doable.

$1.7M in MCA and doesn't want to use property or look at SBA. He clearly doesn't seem to know how to run his business and it's too bad he isn't interested in listening to serious options. Especially when they say "I don't want to use...(I'd look into finding another client....LOL) You need to look at his financials, A/R aging, A/P and SREO. Use cash out property to take out enough MCA debt to allow factoring to take out the rest of the MCA UCC's. I'd try Alleon for that. Reach out - I can help with both... Then fix his financials using my accounting team to get him $5M in SBA 7A. (yes, he's a knucklehead) (What do I know...I'm just a loan officer)....

Okay if they settled, it could also/possibly mean the merchant would have been held fully responsible so either way the merchant would have possibly had to pay on this debt whether he settled or not. If you don't care if the loan is going to bring profits, then writing the loan would be risky which would create more of the possibility of the person to default. Also read what I wrote "Saying it's not a loan doesn't create less penalties for non-repayment it's just word jargon for legalese" said nothing about future receivables being fancy jargon. You didn't answer the question: Would you loan someone some money if you didn't expect some type of future receivable? Yes, we are on the same page the MCA are based on receivables, but I am not ever going to agree that something that was given to me with expectation of me returning is not a loan just my personal opinion and you don't have to agree. Appreciate the banter.

It means they settled because the lawyers worked it out to some Middle grounds and it was cheaper that way. It doesn't mean that the actual case law would have come out in favor of one side or the other. When you see a settlement, you cannot bring a proof to anything. With a loan, I don't really care if you profit it or not. Your future receivables don't bother me, I hope you're profitable but I don't care. I just care about the principle and interest. A future receivable is not a fancy jargon term, it is an actual reality, as legalese as that sounds it has been accepted, that future fruit that you produce comes to me at a rate that we are predetermining now. I don't care the market value later. However, if there is no fruit then I obviously don't get it. I'm only getting the next 500 tons of grapes at this price. If there's 500 tons of grapes. In legal discussion, you always must keep definitions consistent so that you don't confuse what you thought should be the truth with what actually ends up being the truth.

This is truth you don't use it, but it doesn't change the fact that's what it is just my take on things you don't have to agree.

I read that article from debanked in which at the end of the article it says, "It may have all been for naught because the parties actually settled the case two weeks prior to the decision, according to the public docket (See Index No: 2021-00877)." Would this mean that the parties settled as the merchant could have possibly been held accountable for the funds received? The point I am making here is that MCA whether considered a loan or not is something that is borrowed and is "expected' to be paid back and parties can still be held accountable. Saying it's not a loan doesn't create less penalties for non-repayment it's just word jargon for legalese. The only difference between the loan and MCA is the lending on the grounds for future receivables but let me ask you a question, would you loan someone some money if you didn't expect some type of future receivable?

the truth hurts :)

Can you say which states you DON'T fund? Thanks

I am getting it taking care of but the back and forth has done nothing. Thanks