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Loan to value is too high....Land is 30% - 50% Loan to Value. Renew the loan with current lender when it's due in September.

No cash advance provider can match Channel's rate and terms. You'll need to try something more conventional, which he likely tried already, because you need to have those types of numbers to work with Channel, particularly five years in business. www.UccRadar.com – Large sales volume merchants filling out your application.

Will be very interesting to see if some "well known" names in the MCA space are behind this. Wonder if anyone has beef with the plaintiff that also has a way to get access to things? Following.

On June 3rd 2024, we announced to the community and to Centrex Software customers that our service provider had a vulnerability that was exploited by a criminal third party. Since that time, an article and a lawsuit suggest that Centrex and its service provider are the source of this data incident, and that Centrex and its service provider participate in a common industry practice of “backdooring” or buying and selling customer data. Neither Centrex nor its service provider have evidence or reason to believe that the data was accessed and/or released by any person within its organizations. Nor does Centrex or its service provider ever buy or sell customer data or information in any way. The two forensic cyber security firms that our service provider is working with are at the tail end of their investigation. I would also recommend looking at the very next article on the homepage of fintalknow.com, as it clearly represents the true problem within the alternative corporate finance sector as it relates to data and document theft. https://fintalknow.com/lead_source Cheers, Trey Markel VP Sales and Marketing (888) 622-5810 tmarkel@centrexsoftware.com www.centrexsoftware.com

Even the dictionary defines “default” as failure to fulfill obligation or failure to repay. The client paid and is paying, further fulfilling their obligations. People want to incorrectly use the word to manipulate a situation then force people to believe that’s what it is and it’s not. Funders have all this business and money to lend, but want to withhold a small check from a small broker? What is that even about? Its cant be about the money. The funder is the only entity in default, and not fulfilling their end of an obligation. Get real.

If they defaulted, they would be in collections. They do not have an active and valid defaulted advance. Until they do, they have not. Legally and Respectfully.

1.18 Call me to discuss 929-566-7317 diana@ontapcap.com

Our firm is one of the biggest in the country. We don't have these kind of problems with funders not paying us. So no we don't relate.

In my experience, Live Transfers did not work, They Qualify merchants that are truly not qualified, that means wasting your time, also they don't know what questions to ask, again your time being wasted. as far as 15$ per live transfer, that is a little low, a red flag to me. Remember they will promise you the world until you make good on your payment. Verify this Live Transfer guy before you proceed. good luck!

According to the funder, they started bouncing payments withing their first week. Your incredible merchant, of whom you have an outstanding relationship with, defaulted.

https://www.youtube.com/watch?v=KYmkU1isYuc

How we look to another person doesn't matter actually. We're doing nothing wrong by coming to a forum and having an important conversation, that's what it's for. It's actually creating awareness and generating both of our companies new LIKE-MINDED business partnerships and opportunities. More than 10% was paid on this advance already, and 30days makes next week. We did right and our part, and this never needed to happen to us. These situations are common because brokers like to gaslight and accept things the way they are, even if it’s not right. MCA funders thrive off of not paying out commissions, feeling ISOs can’t and/or won’t do anything to counter their decisions. ISOs and Funders have agreements in place for a reason, and if ISOs did anything to breach that agreement, they would not hesitate to enforce their commitment to it. If they get to regulate on that convoluted seemingly one-sided agreement, we can as well. That’s what it’s there for.

So sue them instead of crying on dailyfunder. Or don't, at this point who cares. All you are doing is making yourself look worse.

And again, if they had an actual DEFAULT we would understand because that is in our CONTRACT. The way we are being dealt with is NOT in our contract!

We have only been working with lenders who pay same day/ next day, and constantly have situations where the lender will call us for missed payments and we help them get back on track. We maintain relationships and make sure the clients we present and that represent us pay. This is one of the few times we went outside of our relationships to get something done and wait for a check to come almost 15 days later. We confirmed up until the payday for a payment and there was no issue until the actual day/hour of payment which is the 1st, everything is due, and are budgeting for our expenses and what needs to be taken care of. Again, we maintain relationships and make sure the clients we present and that represent us pay. Hence what made sure was taken care of with the client, and the client is continuing to pay as we speak. THAT is why there should not be a problem for us to get paid WITHIN A REASONABLE TIMEFRAME. IT'S 30DAYS LATER and we're put on the backend of an 8month deal for NO REASON! WE are being penalized in a way that goes AGAINST our contract.

did you see a line of credit in the statements from vanguard? Or a line of credit letter that said they first have to take 30k with 50% fees at a 1.599 and pay it back the same day?

Have you ever put money in a deal? The first bounce payment is always ominous - you worry the merchant moved bank accounts, closed shop, etc. Think about it like this, if the merchant missed the 5th payment on a term of 160 days, that is 3% of the deal paid in. The merchant is ALREADY having issues so early on. I understand you got the merchant back on track, but that doesn't remove the risk of the merchant screwing the funder once you get paid. There are PLENTY of funders that would have defaulted the merchant and not said anything

No, you did this to save your commission, let's be real here. You seem to be in over your head. If you can't pay your rent, don't blame it on your last deal that you haven't been paid out on. Sounds like you're skating on thin ice, probably be better off going back to work for your last ISO or whatever you did previously. This industry clearly isn't for everyone. Best of luck!

welp...

How about you just fund more deals instead of writing essays on daily funder lol

i guess now we know why they did this post . to get ahead of it

Do we have any updates here? A recent lawsuit was just filed of someone suing Centrex for backdooring data. https://fintalknow.com/centrex_lawsuit

We fund previous defaults, with payment history after the default

Pretty much this, id say if you want good calls you'll be at $50. The $30 calls if real are going to be your more desperate people who are just happy someone made the offer to them. I also posted prior you should always look up when they registered their domain name, just go to a site like godaddy.com scroll to the bottom of the page look for the Whois link, click it and enter their website and see how long ago it was set up. no website dont even work with them. Email is a free mail service dont work with them either. Heres dailyfunder who has a 12 year birthday coming up this month of the idea shawn had https://www.godaddy.com/whois/results.aspx?domain=dailyfunder.com

Prompt in ChatGPT: I'm trying to show someone what mansplaining is. It's a horrible way to speak, but perhaps you can give me an example? Mansplain AI to me and how it can be programed so that people don't realize it's AI. Response: "Oh, let me explain this to you. AI, or artificial intelligence, is like when computers do smart things that usually people do. You know, it's a bit complicated, so bear with me. Imagine a super fancy calculator, but instead of just doing math, it can also make decisions, learn from data, and even recognize patterns. Now, when it comes to programming AI to fool people into thinking it's a real human, well, that’s really advanced stuff. Basically, you write algorithms – those are like detailed instructions for the computer – and you feed them tons of data so the AI can learn and mimic human behavior. It’s really intricate, so don’t worry if you don’t get all the details. The key is that with enough data and the right programming, AI can respond in ways that seem very human-like. But you don’t need to get bogged down with all the technical stuff, just know it’s pretty advanced and really fascinating!" This type of explanation is condescending because it oversimplifies and assumes the listener can't understand complex concepts, even though they might be perfectly capable of doing so. It also uses a patronizing tone, which is characteristic of mansplaining.

How many real customers (business owners will talk to a machine) and will upload documents to a unknown, unsecure upload link?

Ed it looks good. What I was asking him is if he is getting traffic to the site. Without it, it's just a shiny widget. Which is cool, looks good. I'm sure it has the capability to plug in with other use cases like SMS, email but it appears the discussion here is a website. One of the bigger costs here to consider is getting people on site before anyone can interact with it.