Activity Stream
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Older Activity
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Today, 12:50 PMGrowthHacker replied to a thread **SKYROCKET Your Closing Conversion Rates with Bleeding-Edge A.I. in PromotionsYou put up a website because you anticipate eyeballs on it. The question you should be asking is: How do I convert those (after hours) eyeballs that DO see my website?... Do I hire someone for $6 an hour from the Philippians to sit on my site ready to answer any question and hopefully get them to send in a full package? 6pm - 9 am m-fri = 75hrs plus 48 on weekends is ~$750 a week Or do I use Ed's bot which is way more cost effective, faster and never even takes a coffee break?
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Today, 12:41 PMIf no one was on my side there wouldn’t be an entire list of regulation clauses and rules in our favor, nor would we have an inbox full of new funders to work with.
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Today, 12:38 PMNo one is on your side, everyone is looking at you like a clown. Quit crying keep dialing
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Today, 12:30 PMMaybe if the record continues to play over and over, it will reprogram everyone's mind to realize they've been manipulated into believing lies; and brokers actually have contractual rights that can be enforced.
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Today, 12:25 PMWhat is this consistent desire for us to change our line of work? Threatened we cannot possibly be right because that’s what you are used to? Literally just defined the word “default” for you and you still dont understand “stop payment” does not mean “default”. Not in any literary sense, and not in law.
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Today, 12:10 PMJust fund another deal. You're like a broken record. No one is agreeing with you lol
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Today, 12:05 PMYour customer DEFAULTED on their agreement. Even if they end up paying, they still did not pay on the agreed terms since they bounced a payment. The idea that because they are paying now makes them not a default is crazy. If a merchant stops on the first payment but 3 years later pays in full, that is still a default. With that being said you seem to know a lot about the law. Maybe you would do better in that line of work. Clearly this isn't for you.
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Today, 12:02 PMNews Flashhh*** Laws have changed for NY and CA recently. We are a NY ISO. We have claims under the CFDL, UDAAP laws, breach of contract, and tortious interference theories. Our clawback period is only 30days and there was never a legal default within that time period. The NY CFDL applies to any "commercial financing transaction," which includes MCAs, that are offered or provided to a "recipient" located in New York state. This means the law can reach beyond just New York-based funders and apply to out-of-state funders doing business with New York merchants or brokers. The NY CFDL contains specific requirements around the disclosures and contractual terms that must be provided to MCA brokers. For example, the law limits the duration of commission clawback provisions to up to 4months, and prohibits certain deceptive practices by funders towards brokers. The NY CFDL gives the New York Department of Financial Services the authority to investigate violations and impose fines of up to $2,000 per violation. If a MCA funder is found to have violated the broker-related provisions of the NY CFDL in its dealings with a New York broker, the funder could be subject to these civil monetary penalties. Not only that but can also be sued for untimely wages due to the broker. The funder is essentially purchasing labor services from our company, and we use that money to cover expenses and the wages of the workers providing the services. We have the right to dispute for up to 100% on the original commission amount plus lawyer fees as per contract. Not the funder telling us we will get paid in December. Lol You guys need to learn to respect your laws and brokers. Carry on with your busy days, hope fathers day was great.
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Today, 12:00 PMThrottle Lendora Search the forum youll find more
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Today, 12:00 PMWhat does the company do? Perhaps a better financing package would be a better solution.
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Today, 11:55 AMWe're funding Bluevine statements diana@ontapcap.com 929-566-7317
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Today, 11:50 AMHello, Who can do a reverse for 1.5MM for a merch in Cali? Merchant has about 6 positions they need consolidated. Tried GFE, Qfs, Fenix, Nexi. Thanks!
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Today, 11:25 AMJonathanHendrix replied to a thread Restaurant in Cali has a funder at a 1.18 sell rate in Merchant Cash AdvanceI don't think it's that deep brudder, I think he would take 1 point if he got the deal done. Another way to get a 1.18 factor rate would be to get an Early Payoff Addendum if u have someone who does that
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Today, 11:22 AMFunding Blue Vine statements. Email Underwriting@capitawize.com & CC Kareem@capitawize.com
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Today, 11:16 AMWhy dont people fund if they have bluevine statements
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Today, 09:59 AMnah, it's you that needs to "get real", not me. I've been doing this a long time (obv much longer than you). You're great merchant bounced payments within their first week of being funded. The funder told you there's gonna be a longer waiting period to get paid. If you don't agree with it, hire a lawyer and sue them instead of crying your eyes out on a public forum looking for people to feel sorry for you (and if you do hire a lawyer, he'll probably read the ISO agreement and tell you the funder was within their rights). This industry doesn't seem like it's a good fit for ya.
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Today, 09:58 AMTheUnderwriter replied to a thread Restaurant in Cali has a funder at a 1.18 sell rate in Merchant Cash AdvanceIf you got someone to give you the 1.18 making 1 or 2 points, you wouldnt take it? You HAVE to make 3-4? Isnt it better to make something than nothing?
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Today, 09:35 AMThe real interesting part is that the article doesn't just quote the lawsuit verbatim. They actually claim to have additional sources identifying the people directly involved in these transactions. This is the beginning of a potential criminal case if there's any truth to it.
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Yesterday, 08:48 AMknox replied to a thread What lender funds $400k plus LOC for construction business, $300k monthly, 660 fico ? in Business LoansWhat are they using the money for? I know a lender that will work with them to finance materials or finance a portion of their project to get them started.
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Yesterday, 08:46 AMIf you have a First Citizens Bank in your area, they're super easy to work with. No complaints, have been with them for almost 4 years.
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Yesterday, 08:40 AMCheck out my guy Daniel Tobler at JD Factor - They mainly do trucking, but will look at other deals too. Daniel Tobler Business Development Officer J D Factors, LLC. Phone: 865-481-1999 Cell: 865-300-7844 Fax: 865-481-1998 dtobler@jdfactors.com http://www.jdfactors.com
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06-15-2024, 01:31 PMAcmeRecovery replied to a thread RAM in statements - satisfied defaults - who funds behind in Merchant Cash AdvanceIt's the payment processor that debt settlement companies, specifically Creditor's Relief and MCA Resolve, use to debit merchant's accounts. They also use it to pay out creditors and/or collection companies (like us) on behalf of creditors. Steven Lyubomirsky Managing Partner ACME Recovery Solutions, LLC 7431 Broadway Street Kansas City, MO 64114 Main: (816) 631-0164 Direct: (816) 631-0089 Fax: (816) 631-0367
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06-15-2024, 10:05 AMLoan to value is too high....Land is 30% - 50% Loan to Value. Renew the loan with current lender when it's due in September.
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06-15-2024, 07:29 AMWhat is the goal you are trying to achieve with the refi? Pay off existing not due 9/10/24 of 4.75M Current mortgage balance: 4.75M Current available equity: 1.45M Current property value: 6.2M Can you provide a credit score report of the owners of the property? 730 Transunion, 772 Equifax. No other properties to refi. Not enough business income to supply more cash for the pay off. Anyone interested? Lenders only - no other brokers please. DM.
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06-14-2024, 10:44 PMFranklin replied to a thread Restaurant in Cali has a funder at a 1.18 sell rate in Merchant Cash AdvanceNo 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.
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06-14-2024, 09:46 PMWill 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.
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06-14-2024, 06:24 PMOn 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
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06-14-2024, 06:15 PMEven 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.
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06-14-2024, 05:49 PMIf 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.
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06-14-2024, 04:07 PMMexican Funding started a thread Restaurant in Cali has a funder at a 1.18 sell rate in Merchant Cash AdvanceHey guys I need anybody that will match 1.18 paying 3-4 points Let me know if you can think of anybody NOT PAYING OFF THE FIRST position with Channel on a monthly