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Mulligan Paused Funding ? Anyone else hear this

Anyone know of Funders who fund merchants with bad background?

For all the honest people trying to make a buck out here. We really need to make committee and report all these fraudsters. This is really getting out of hand. This is just beyond disgusting. For Every 2 out of 10 merchants I have spoke to they have been getting a LOC scammed. Each rep in my office has been exposed to a merchant been getting a LOC scam. Like wtf is this nonsense. How do these people sleep at night knowing they knowing they do this. Ruining the deal for everyone else that's in the deal. The merchants are completely drained out of money. All these contracts never had phone number no actual website. Just BS deal 20% fees 10 days.. The irony is just so unreal.

I've heard a lot about merchant defaults from brokers, on df, and from merchants themselves when a caller. I was looking up an old lead to check his background on google and merchant had numerous defaults. But what was astonishing was the rate funders are filing default judgments. Here's just 2 days of filings in Kings/Ontario County courts crazy in the months of Jan/Feb. Reconciliation is definitely not at play here. Jan 10 - https://unicourt.com/courts/state/kings-county-courts-171/contract?upid=2519367680&init_S=ct_ltst_view Feb 02 - https://unicourt.com/courts/state/ontario-county-courts-184?upid=2519391232&init_S=c_brcm That type of systematic filing can only lead to one thing for these funders. An equal and opposite negative reaction from defendant attorneys who will use new usury case laws as a means of defense etc. In turn, these funders should hope the contracts they are suing for are compliant. If not, you told on yourself, no one else to blame but yourself. All it takes is one ambulance chasing MCA recovery attorney to recognize that the contract in question is usury, case dismissed and a new one on plaintiff being filed by what's her name.

Who does not require a personal guarantee or would make an exception on a deal by deal basis.

Hello, can any brokers here tell me their experience with them

From a post I put in the dealBin here on daily funder an “iso rep” sent me a text message from tckg fund which has a domain name and no website (domain Parked free by godaddy) and the iso contract he sent has no business address listed on it , and he openly told me if I send him A files he would backdoor me as they only fund super high risk paper ( the deal I am placing has over 7 NSFs a month ) He sent me links to open corporate and telles to verify the llc exists , however I am still Leary and have not completed the iso agreement and obviously have not sent him my clients file. Does anyone have experience good or bad with “TKCG Fund” Also when I google the number he is texting from +1 (732) 718-6443 nothing pops up and he ( I assume it’s a he) has given me no name for himself/herself which I think is very odd also

I spoke with a funder who I have known and trusted for quite some time. This is a "good" one..... It all starts with a fake email address at fundingcircle-usa.com, promising $500,000 over 5 years. Follows up with an MCA. This broker also has a broker email address. In this case he uses david@clearchoice.capital or www.clearchoice.capital for those who are keeping score. The deal is submitted to a legit funder (or two, both on this board, asked not to be named) by this broker. The email address and phone numbers on the app are fake. The email address was created by the scammer the other day, they're probably the ones who eSigned the app even. The funder funds the deal. These are clients with previous history with Funding Circle mind you. Somehow, they "only" get $X (far less than $500k). Client calls up the broker and say they only got $X, and he says "That was a mistake, send it back to me, here's my banking information" and he has a small bank in PR to receive the money. The goal was to scam the funder out of the money, not the merchant. This ISO signs up as an ISO with a fake DL and VC. The DL is "David Rossi", so I was doing research with the funder, turns out that the that is the name of a criminal investigator character played by Joe Montegna on a show called Criminal Minds. The picture is probably an AI-generated version of him, just a bit younger. The DL is for BOA for a Corp that probably doesn't exist. Both were done professionally, they really look legitimate. One funder is calling the FBI, the other is in touch with Funding Circle. One of them asked me to post this, he's a bit embarrassed that he didn't see the editing on the DL and now that we did research on the name, he's embarrassed that he was trolled by the name on the DL.

Hello anyone have a contact there to sign up with them? Seems like a very clean funder

Received this from a friend Balboa shutting things down on MCA end of things. Dear ISO Partner, We regret to inform you that Balboa Capital, a division of Ameris Bank, has made the strategic decision to cease the underwriting and funding of ISO Broker Partner-driven Working Capital transactions. This includes new submissions, any applications in process that have not been decisioned and any renewal opportunities. Approved applications are eligible for funding provided they are within 30 days from approval and subject to the terms of the approval. Since 1988, we have developed a strong following with our equipment finance business. We felt our efforts would be better served with this part of our business where our value proposition and product offerings have been relevant and well received. We thank you for support over the years and we wish you continued success.

A growing mca shop in Boca is hiring looking for reps with experience in this industry pm if you are interested or know anyone in the area in need of a job great money they are looking for highly motivated people who want to grow and explode in this industry endless opportunities Text 561-381-9750

Just curious on here since I get calls and texts from 12 people working here a day. Has anyone ever gotten good data from them? When I say good data I mean you've bought leads and funded multiple deals off of them. Appreciate your feedback.

WE HAVE NON-DEFAULT CONSOLIDATIONS! Many merchants are being declined for funding right now - stop throwing away those leads and start sending them to us. We have programs for merchants who have defaulted but EVEN better we are able to do NON-DEFAULT CONSOLIDATIONS Email me for me information! Jonathan - isosubs@mcaconsolidates.com MCA Consolidates New York, NY

Client has his funds tied into the project and is needing $12,500 for a Due Diligence Fee in order to secure loan. The client is committing to paying back investor $25,000. Funds will be paid back once the loan goes through. The lending process takes three weeks for due diligence and then two weeks after that to fund. Please give me a call and we can discuss the deal in more detail with myself and the client. Thank you. 815-878-0244

Mca consolidation loan lender??

Looking for lenders that will ACTUALLY do 2-5 year terms. TIA!

I have a client who currently has a 590 fico. Retail store in LA. Been around for over 20 years. Current revenues are 300k a month. Has an 11k balance. Looking for 150-200k on a weekly payment or vi weekly if possible.

I have an application that was declined due to negative bank days. Is there a company on here that is willing to take it on? Everything on the file looks good besides the negative bank days. Please contact Sam 406-282-1404

Anyone esle having issues getting intouch with them? Ever since they got bought out I cant get them on the phone.

Hi guys , I'm opening up a new broker shop , and would love to signup with some funders. I'm with one other guy as of now but I promise you we will send in a lot of deals and hoping to grow.

Sole proprietor with Business Bank Statements needs $10k first position MCA. Monthly revenues averaging $15k per month Anyone willing to do a deal like that ? Have full package if you can do it Rich Rose Rainstar Capital Group rich@rainstarcapitalgroup.com 602 309-1007

Multi-location restaurant looking to consolidate 3 positions, A paper. Having trouble finding lender who will consolidate more than two at the terms applicant requires. 3 positions taking about 33% of revenue doing over $120K a month at each of the two locations. Total balances hovering around $80K.

which funders?

Literally I sent 2 deals to test out, and I start getting hit up by Dynamic Capital. I only sent them the file and put my number on the app. Mind you I''ve funded deals with them before in the past. I think Jay is a good guy but they definitely have a leak in there. this has happend more than once.Hopefully they clean that up because i actually consider them to be a decent funder.

Hey All, Looking for some guidance. I am setting up a lending department. I'm a Sales Director for an agent office that offers credit card processing. Our niche is High-risk Payments. I have a decent amount of leads that come in that are specifically looking for funding so I just set up an integrated solution for merchants that have credit card processing, however, I am finding that a handful of our leads don't have credit card processing but might still have business history and consistent revenue. Looking for recommendations for direct funders that might be able to fill this void. Appreciate any guidance. It's been a while since I directly worked in the MCA space and so jumping back into it, things have changed a little bit.

Exotic Car Dealership in Florida 800k/mo Looking for LOC and would consider any kind of loan. 550k 10yr SBA loan pending; would consider a front of the SBA. Please DM me or comment and I will call you.

I have a client who is in need of a $100,000 to $150,000 line of credit. He has had two previous MCAs. His credit scores are between 550 and 560. He has been in business for about 23 years. His January revenue was $65,000, in February it was $87,000 and this month is looking even better. He wants to move fast. Any lender here wants this one?

Hello Funders and Brokers - As most of you know, ACHWorks has been partnering with Funders for years to process their ACH needs. We started with just doing the daily draws. Then we found how to pay the syndicate partners with credits, and now for a few years, many funders have been using us to fund deals by using Same Day ACH credits. We believe in ways to help. One area we have not been able to help to this point, is in helping MCA brokers. I am willing to listen to serious, grounded, professional brokers tell me how we could possibly help them, while being competitive in the market AND covering the risk in the Broker space. Let me make this clear, should we ever initiate this service, the vetting would be strict. So, NO COWBOYS please Anyone want to talk? Dave Kirk ACHWorks National Sales Manager dave.kirk@vericheck.com

I have been in this business since 2010 and I have met my share of shady Brokers/Lenders that will lie to you about their business model and sell the illusion that they are more than a broker. I met this fake Lender in November of 2023, I was in need of a 1MM LOC and I was introduced to a guy from a solid recommendation on a thread from this platform. I have met many good Brokers/Lenders on this platform which helped me close many deals over the years and I will keep using this platform as a source of referrals and recommendations to lending sources to close deals. I was introduced this guy name Doug Quick of Advanced Gravity LLC ( www.douglasquick.com ). He is based out of Boca Raton, FL but he is a New Yorker that moved south. He spoke a good game and even though we did not qualify that client for the 1MM LOC, I gained a level of trust and respect for Doug. I introduced him to another one of my best clients for a $250K MCA because Doug told me that he Syndicate in 90% of his deals. We jointly closed the client on Feb 2nd with Rapid Advance which paid 8Pts confirmed. That guy sent me ACH Deposit for $1500 and not $10,000 that we agreed as a split. I learned that Doug Quick has been cheating many brokers over the years and the biggest scam is what he is doing to his wife the Founder of Advanced Gravity LLC. She created the business in 2019 and the guy has not paid taxes on the hundreds of Thousands of Dollars that he earned using her EIN from 2020 thru 2023. I was able to get a hold of his taxes and saw that he filed married jointly and used his personal Social in the schedule C and not the 1120 form for her EIN for Advanced Gravity LLC. The reason why I share this is because this guy might be the worst of all the bad brokers that I have crossed over the years... Stay away from this Doug Quick of Infinity Holdings LLC DBA Advanced Gravity Capital. He created a new business entity from his wife but using Advanced Gravity in his business name. He is leaving her with a huge Tax liability of the unpaid taxes on the 1099's over the years. The reluctance to pay taxes is called Tax evasion. The wife I bet has no clue of the tax stuff because my folks that I used to investigate him confirmed that she was just the figure head on the legal set up. This guy is pure scum.

https://debanked.com/2024/03/new-york-state-bill-aims-to-recharacterize-factoring-leasing-revenue-based-financing-and-more/ What are people's thoughts on this? What direction are we really headed?