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  • cruisinman's Avatar
    Yesterday, 10:52 PM
    All good . . . We have decided to raise our own Capital for the MCAs. Have $10million committed so far. Going to fund one with Bitty, then fund one ourselves. Rinse & Repeat. Going to structure it similar to Rewards Network with a twist. Not just Restaurants. Other small businesses. $5k to $25k max. All others subbed out for a commission split. Still using a MLM concept tho. Plan to launch by March, 2022.
    18 replies | 555 view(s) |
  • TheUnderwritingProdigy's Avatar
    Yesterday, 10:37 PM
    This seems like an absolute nightmare from a logistics standpoint. You would need countless staff to do a daily reconciliation and then you're getting banged out with even higher same-day ACH fees. On top of that, once a merchant realizes that they simply do not have to make a deposit in order to not pay or pay an extremely reduced payment, the abuse will run rampant. On days that they make large deposits, and you come in and take the specified % they're going to throw an absolute fit when it's multiples of what they thought they had to pay. I get the idea, and I'm sure merchants will when being sold, but logistically, it just doesn't make any sense IMO.
    24 replies | 2793 view(s) |
  • TheUnderwritingProdigy's Avatar
    Yesterday, 10:33 PM
    I've owned and ran a funding company for over 3 years. It is NOT necessary to have contact information until the contract request. The ONLY time I've needed to call a merchant prior to funding is to clarify information that needs to be on the contract if I'm dealing with a slow ISO or I just want to take the lead and get the file done faster than having to go through the ISO. Examples include confirmations regarding address, entity type, or anything else that stands out as being strange during underwriting that needs to be addressed. Asking a merchant, "What are you using this capital for?" is an absolute joke. I ask it anyway just out of habit, but you never really know or can confirm that the merchant is using those funds for that purpose after the wire has been sent. You know how many times I've gotten the answer "business purposes" or "working capital"? If you think these merchants are telling the truth than you're playing yourself.
    50 replies | 3044 view(s) |
  • mistamca's Avatar
    Yesterday, 10:22 PM
    If you are going to insult me, can you at least spell it correctly? How about you educate us what a telephone & email provides an underwriter that prevents them from extending an offer?
    50 replies | 3044 view(s) |
  • mca2150's Avatar
    Yesterday, 09:50 PM
    Can we reach you with the number on your website? 123-456-7890? LOL
    11 replies | 638 view(s) |
  • fin4all's Avatar
    Yesterday, 09:15 PM
    incompetent** lmao
    50 replies | 3044 view(s) |
  • fin4all's Avatar
    Yesterday, 09:14 PM
    no dave you are wrong once again, it has been sent...an email and phone will not tell anything to an underwriter...lmao
    50 replies | 3044 view(s) |
  • Yankeeman07's Avatar
    Yesterday, 08:38 PM
    Good Catch - that is funny! Partnering with Thyrve means transparency & exclusive access to one of the largest funding houses in the country. We offer the highest level of service and tailor our revenue sharing models for each ISO. Our bottom line is making you money when others cannot!. https://vintageadvance.com/#about_us
    11 replies | 638 view(s) |
  • joshbr9's Avatar
    Yesterday, 08:04 PM
    You put that "lender" website up yesterday?? Its almost identical to http://www.thryvecapital.com/ , with no Real phone number, and you left the word Thryve in there! Jfc these dudes
    11 replies | 638 view(s) |
  • Yankeeman07's Avatar
    Yesterday, 06:56 PM
    MJ Capital Funding’s Website Has Been Shut Down, Company’s Assets Being Auctioned Off https://debanked.com/2021/09/mj-capital-fundings-website-has-been-shut-down-companys-assets-being-auctioned-off/ INO - Very interesting on how quickly the Receiver is moving.
    0 replies | 26 view(s)
  • Yankeeman07's Avatar
    Yesterday, 06:50 PM
    Are you that incompentant?
    50 replies | 3044 view(s) |
  • NickHubbard's Avatar
    Yesterday, 06:48 PM
    NickHubbard replied to a thread Reverse funder needed in Deal Bin
    https://www.gandgfunding.com
    1 replies | 112 view(s) |
  • mistamca's Avatar
    Yesterday, 06:42 PM
    You must not fund MCAs because it is laughable that you think that you cant get an approval without contact information. The only funder that I use that complains occasionally is Rapid.
    50 replies | 3044 view(s) |
  • FlexibleCapitalSolutions's Avatar
    Yesterday, 06:21 PM
    Perfectly stated, thank you for shining a light on this subject for us. Needless to say, I agree with everything you say, always.
    50 replies | 3044 view(s) |
  • Yankeeman07's Avatar
    Yesterday, 02:44 PM
    My credit card split - we do not require any change to processor - our funding is the same day as soon as funding call is completed. A few differences between the products - as you stated in a previous post - you are returning to the roots of the MCA Business. It should be well accepted by merchants.
    24 replies | 2793 view(s) |
  • Fundkite Egor's Avatar
    Yesterday, 02:22 PM
    Additionally, when comparing a CC split to our ACH split, we don't need to see months of credit card statements, no need to set up a lockbox, no need for the merchant to change their processor, and funding is same or next day.
    24 replies | 2793 view(s) |
  • Yankeeman07's Avatar
    Yesterday, 02:17 PM
    IMO - This product will go a long ways to reducing-eliminating defaults
    24 replies | 2793 view(s) |
  • bloom's Avatar
    Yesterday, 02:14 PM
    Vintage Advance can help you out. We provide 2-5th positions B- C paper, If you are looking for a home to fund them with, I'd love the opportunity to work with you. We're an ISO driven Lender (no inside sales team) deals@vintageadvance.com
    11 replies | 638 view(s) |
  • bloom's Avatar
    Yesterday, 02:14 PM
    Vintage Advance can help you out. We provide 2-5th positions B- C paper, If you are looking for a home to fund them with, I'd love the opportunity to work with you. We're an ISO driven Lender (no inside sales team) deals@vintageadvance.com
    2 replies | 260 view(s) |
  • Yankeeman07's Avatar
    Yesterday, 02:04 PM
    A credit card split only requires a merchant Authorize a DDA Change - it may take a few days for the processor to make the change, which will slow down the initial funding to the merchant.
    24 replies | 2793 view(s) |
  • Fundkite Egor's Avatar
    Yesterday, 01:54 PM
    Speaking from personal experience as an ISO rep at Fundkite, majority of our merchants are happy to work with our reconciliation and believe its beneficial to their business cash flow. As opposed to a fixed payment in which the merchant may worry about making payments when business is down. Reconciliation allows merchants payments to be flexible according to their sales, so yes, a 6 month term could end up being 4 months or 8 and we're fully prepared for either scenario.
    24 replies | 2793 view(s) |
  • Kevin Henry's Avatar
    Yesterday, 01:52 PM
    My two cents: Every advisor and every institution has their own style and requirements. The certainty of closing a transaction is highly reliant on the amount of information reviewed and work done up front. If the appropriate work is done up front by the advisor they SHOULD know what can be done and who will do the deal. If you send a deal to someone who does little work up front, the chances of the deal closing goes down or time is wasted because something came up in review. Follow the simple rule of closing clients: Know your customer, Know your advisor, and Know your sources of capital. I personally have a low tolerance of "advisors" calling with "deals" that have done zero work only to waste our time and resources. "I got a guy that needs money" just doesn't cut it in this environment.
    50 replies | 3044 view(s) |
  • Yankeeman07's Avatar
    Yesterday, 01:26 PM
    They you do not have a legit offer - the file is NOT been sent to underwriting ! ​
    50 replies | 3044 view(s) |
  • mistamca's Avatar
    Yesterday, 12:43 PM
    Pretty much every single funder has done it to me. It isn't backdooring necessarily. 3 months go by and then they send it to their broker shop or put it in a drip campaign. For example, a very large funder shoots over all their applications to their sister company for a mortgage. I also firmly believe that most backdoor cases are not coming from management. Typically, it is a rogue employee. I wish it didn't have to be this way but it is.
    50 replies | 3044 view(s) |
  • J.Celifarco's Avatar
    Yesterday, 12:13 PM
    people really do this where they submit files without contact information of the merchant? I thought people did it maybe when starting with a new lender but all the time? That is crazy to me
    50 replies | 3044 view(s) |
  • BB_Cooper's Avatar
    Yesterday, 11:58 AM
    Good point Micah. Do MCA investors or many of the merchants want fluctuating daily draws?
    24 replies | 2793 view(s) |
  • mistamca's Avatar
    Yesterday, 11:58 AM
    No they don't. You do not need contact info to underwrite a deal to give an offer... I do not know about you but email & phone is given when requesting a contract.
    50 replies | 3044 view(s) |
  • mcaindustryveteran's Avatar
    Yesterday, 11:26 AM
    Very eloquently written. But facts are facts.
    50 replies | 3044 view(s) |
  • dskg1982's Avatar
    Yesterday, 10:44 AM
    Hey all, Looking for a funder to do a reverse while potentially netting capital or an add on.
    1 replies | 112 view(s)
  • Cashyew's Avatar
    Yesterday, 10:39 AM
    It's Friday. 30% discount on all posted leads on Cashyewleads.com discount code: discount30
    0 replies | 50 view(s)
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