Printable View
Beware of these guys. One of our merchants paid off over 2 months ago and has been asking for a zbl for 2 months now and they are refusing to send. Their tactics are disgusting. Every deal they fund is a scam flex deal. If you are an iso beware of these guys. Their offers look amazing on paper but if you really take a look at it all they do is give merchants 20 day deals. To not send a zbl to a merchant for 2 months after merchant paid off is outrageous.
BREAKING NEWS: Lender operating out of basement resorts to unethical business practices.
Coming up later, a new groundbreaking government study detailing that every hour in Africa, 60 minutes goes by
More at 6PM on DailyFunder News
lol that was greatQuote:
Originally Posted by Max Upsell
When you see the 20 day term in your email, and then look at it on paper, the 20 day term looks different? And worse? My brain hurts. 20 day flex deal sounds better than 20 day deal though LOL
Lmao
For example they will send you a 200k approval and it will be a flex deal broken down to 4 increments. The total deal will be 80 days but when you do the math its just 50k 20 days 4 times.Quote:
Originally Posted by brandon_
they still exist lol
AJ equity.......That's a blast from the past. I remember them pushing for iso's around 2018. They sucked then too!Quote:
Originally Posted by PROVENTURE_CAP
You are officially the new Karen of this forum !!!! you must be the most negative person do you get a hard on by bashing people ?? get to work and fund dealsQuote:
Originally Posted by kevin85k
Attachment 2855Quote:
Originally Posted by tonymotts
Not me big Tony but thank you. I just speak the truth. And yup funding daily. If you need a job let me know.Quote:
Originally Posted by tonymotts
Wait, is this forum for those who handle their merchants with kitten gloves? Or defend the merchant for taking a "FLEX DEAL"? Its a great product for sales reps who wanna make money. If merchant behaves he gets all the clips, if not he doesnt. Anyone gonna start complaining about REVERSES now?
SMFH
the SEC doesn't seem to have an issue with Flex or Reverse deals - check out Par funding's receivership websiteQuote:
Originally Posted by onefournine
Yes. Any iso that puts their merchant on a reverse is a scumbag.
Americans and their guns good communicating real pro communications in this should be a respected financial portal and i dont see the humor in your stupidy - please share
Huh? Next time you feel like you have a good point to make please type it in your native language and we will use Google translate to understand what your trying to say. TyQuote:
Originally Posted by G2efunding.com
CorrectQuote:
Originally Posted by SmartAdvanced
Ben why do you feel it's a scumbag move if you can help the merchant with a more affordable payment? Yes the duration is now longer but the merchants payments would be less.Quote:
Originally Posted by Ben_p
because i take the risk on the merchant and will not be able to renew him/her if they go on a reverse. 95% of lenders out there would agree with me on thisQuote:
Originally Posted by kevin85k
**** SILVERLINE, GFE, G AND G, PERMIER AND ANY OTHER ASSHOLE RUINING MY DEALS
This makes no sense whatsoever. Reverse helps funding company get paid by giving merchant savings.Quote:
Originally Posted by Ben_p
Yes it helps me get paid and thats great but I can't renew the merchant. I don't see how that makes no sense.Quote:
Originally Posted by PROVENTURE_CAP
If the merchant can't make payments to you then you cant renew him either :D
Obviously it sucks when your deal gets put into a reverse and can't renew but I'd rather the deal go into a reverse and they make their payments than a default.Quote:
Originally Posted by Ben_p
if my deal gets stacked up and starts taking those dog **** 30 day deals then obviously i would hope that he gets on a reverse so i can get out of the deal. im talking about my 2014 active deals that dont even need a reverse. it totally blows that i get bullied out of them. That being said, i like u guys over at Torro and i hope u crush it this month.Quote:
Originally Posted by ectorro
Appreciate that.Quote:
Originally Posted by Ben_p
I’ve seen default files get 120 day offers. So at this point, if a merchant defaults he can still get decent offers Post Defaulting. Rinse repeatQuote:
Originally Posted by Ben_p
Which funders have you seen that have funded a business that defaulted in the past (knowing about it) 120 days?
Missed a payment or two or completely defaulted?
i see EBF fund my open defaults the most. KNIGHT would be second placeQuote:
Originally Posted by LULUADAM
AJ Equity sucks big booty burger.
Flex Deals in certain Scenarios make sense. But not if it is just 4 Increments at 20 Day Terms. If that was the case Merchants would be better off just taking 1 deal at 20 Days and then renewing after 10 Payments.
WG/MCA Rehab does Flex deals that are actually Flex Deals (First Funding Term at 20 Days, then 40, then 80, then 120 then a 240 Day Term) The Factor gets lower with each Tier too. And they get new round 80% Paid in.
This Offer (Isn't from WG/MCA Rehab) but is how a Flex Deal should be (Merchant has 5 Positions, other offers on table are 60-80 Day 1.49's)
Purchase Amount: $150,000.00
Increment Amount $50,000.00
# of increments 3
Frequency (Days) 20
Rate: 1.25
Term: 126
Payment (Daily) $1,488.10
Commission 10.00
Payback Amount: $187,500.00
Week # Increments
1 $50,000.00
5 $50,000.00
9 $50,000.00
This offer isn't Funding 3 20 Day Deals. Based on the payment, he pays back 50k in 42 Days. Yet gets the next 50k in 20 Days. And the final 50k at 40 Days (Prior to the first 50k being Paid in Full)
This is an ACTUAL Flex Deal. If it was my business I would much rather take this 1.25 Flex/Incremental deal, over a 80 Day 1.49
I love how there are two types of Flex.. a fake Flex and an actual “legitimate” Flex..Quote:
Originally Posted by ryan $
This is awesome
Flex deals are real, and have benefit. But structuring a 20 Day Advance and then Funding Every 20 Days is just dumb. I wouldn't call it FAKE Flex. Just a dumb deal.Quote:
Originally Posted by SmartAdvanced
AJ Equitys flex deal is a scam created by major scammers...what a surprise lol. their flex deals are designed to make an ISO's eyes glow up with dollar symbols because they are sending out offers that say "500k!!!" "750k!!!" and ISOs are somehow falling for this stupidity... but from my understanding what is the difference between offering someone a 500k flex deal but really only funding 100k the first round and someone else offering 100k no flex but renewing for another 100k when its 50% paid in? all of their "flex deals" are like 20 payments so its technically..... not a 500k offer its a short term 100k offer with options to renew if merchant is a good payer
Yea I was butthurt when Pearl and YS started stacking merchants in splits with ACH Products over a decade ago.Quote:
Originally Posted by Ben_p
I didn't cry about it. I realized instead of Renewing a merchant 2-4 times a year. I can stack them way more times than that.
Then do a reverse. That Client has become more Valuable to me because there are more options at my disposal.
Where do you draw the line? Why is a Reverse BAD, but a 2nd is okay? A 2nd ruins renewals with 1st position funders anyway, so your decent 2nd position funders are thorns in the side of 1st Position only lenders, and the 1st funders are *****ing at the 2nd funders.
Ill put my money into a deal and let someone reverse it NO PROBLEM. It is giving them the money each week to cover my payment.
As a broker/funder its my job is to work every deal I can. If a deal comes in and their only option is a reverse, thats what they are going to be offered. As brokers your job is to present the best option for the merchant. When a merchant has 3 positions and wants to consolidate, sure submit it to 1st Position lenders that would even entertain paying off 3 positions, but most likely you can only get a 4th or a Reverse.
My point is.... everything is about perception.... you say if brokers do a reverse they are scumbags. Bankers say all MCA's are scumbags.
I say, I'll give the best option I can to a Merchant. Whatever it is. Its up to the Merchant to decide to take it or not. It's their business, Not yours. I'm not a f*cking credit counselor, I sell Cash Advances.
The Grass is always Greener
expansion funds the most defaults- the real issue is as brokers are you doing your partners a disservice by allowing them
to fund defaults that you know about & they missed.
different story if the lender likes funding defaults (morons but a different story)
nobody has a monopoly on funding/lending. first pos funder's think that a merchant will only take money from them are silly. the landscape is crowded and merchant's get hit with offers all day long from a multitude of companies. Pearl and YS opened the floodgates to what is now a common practice in this space.