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I called an ISO shop today about becoming an independent referral partner they constantly post traditional this, that and everything on fb. They have a lot of great google reviews regarding their traditional "banking" services and also do a lot of MCA they say. Anyway, I asked about the bank line of credit and was told they have friends in banking positions they refer qualified merchants to letting them keep whatever fees they make originating the lines through bank for themselves while the ISO is charging another 10% of total line off the line itself when funded by way of ACH/PSF. Is this legit? Might be idk. Is it legit as well to be charging PSFs for regulated bank related products without a license etc? It was out of the box to me just trying to see if legitimate in general.

Mulligan Paused Funding ? Anyone else hear this

Anyone know of Funders who fund merchants with bad background?

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.

I have an offer from LENDR for 12 months right now but they are requesting a green card p- Who can assist with this file ? Pizzeria in California does $65k per month My offer with Lendr is $40k 12 months

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

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.

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.

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

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

Hey lovely people, had a question for anyone well versed in sba products. I was speaking with a broker who told me he can get a SBA loan for a client with only 1 year of business tax returns , year to date PnL and the typical questionnaire. And then some other brokers told me they all need atleast 2 years of taxes. Wondering which one is true and if its possible to still get the sba with 1 year of taxes. Merchants been in business since 2022 , 660 credit , $480,000 annual business revenue And yes, i know steve benjamin handles these types of things. Just wanted to know if it was possible TIA

Mca consolidation loan lender??

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

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.

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.

Merchant is looking for 150K + term loan or LOC Has existing MCA with Lendr with 78K remaining. WILL NOT EVEN CONSIDER ANOTHER MCA 200K+ Monthly revenue. No NSF's and good ADB's 4 years time in business Does anyone have a LENDER in mind that might be willing to entertain this?

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.

Who are the top few Micro Funders who pay well, have decent buyrates, good term and competive offers and not crazy fees.

Lake Holdings LLC, a diverse enterprise with a 17-year legacy, is offering an exclusive bridge debt facility in connection with the strategic sale of one of our premium assets, named 'Project Ink.' Why Consider This Opportunity? High Return: Secure a substantial return, with a total interest payout of $510,000 on a principal amount of $3.4 million, facilitated by a basis point of 1500. Short-Term Engagement: Tailored to align with the 120-day sale period of 'Project Ink,' this opportunity ensures a quick turnaround, minimizing capital outlay duration. Robust Financial Standing: Lake Holdings boasts a $17.8 million TTM revenue, an SBA 7A loan in good standing, and significant uncollateralized assets that secure your investment. Diverse and Stable: With revenue streams across SaaS, Manufacturing, Advertising, and Government Compliance, our diversified business model underpins financial stability and growth. What’s the Deal? We’re poised to sell 'Project Ink' for between $9 million and $14 million, with advanced negotiations and LOIs already in place. This bridge financing is designed to cover ongoing operational costs until the sale’s completion, offering an accelerated ROI to our lending partners. Tranche Options: Tranches are available if all potential LOI's makeup the 3.4mm+. Solid Repayment Strategy: Repayment is assured through the proceeds from the sale of 'Project Ink,' including a double closing on the same day to ensure immediate and full repayment to our lenders, plus the agreed-upon interest. Join Us in This Venture: Lake Holdings is not just seeking financing; we're offering a partnership opportunity that stands on the bedrock of a solid financial foundation, strategic foresight, and operational excellence. By joining us, you’re investing in a venture with calculated risk and high reward, supported by a company committed to its broader strategic objectives and the success of its partners. Interested in learning more about this unique investment opportunity? Reach out to us for a detailed discussion and let’s explore how we can achieve mutual success. Contact Scott P. at scott.p@lakeholdings.com or Joshua K. at joshua.k@lakeholdings.com for more information and to start the conversation.

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.

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

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.

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?

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?