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  1. #1
    Senior Member Reputation points: 503040
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    Wait, do you haven't seen this one:

    $30,000 @ 1.499 but $10,000 of the proceeds has to go toward payback, so merchant nets $20,000 with a $45,000 payback. Plus fees.

    I've seen variations of this a few times. I told them I wouldn't even consider presenting to the merchant.

  2. #2
    Senior Member Reputation points: 23702
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    Quote Originally Posted by WestCoastFunding View Post
    Wait, do you haven't seen this one:

    $30,000 @ 1.499 but $10,000 of the proceeds has to go toward payback, so merchant nets $20,000 with a $45,000 payback. Plus fees.

    I've seen variations of this a few times. I told them I wouldn't even consider presenting to the merchant.
    This is gold for the state and federal regulators trying to stifle the industry. Ever heard of the NMLS? This type of thing ^^^... is why they exist.

  3. #3
    Senior Member Reputation points: 503040
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    Quote Originally Posted by FUNd View Post
    This is gold for the state and federal regulators trying to stifle the industry. Ever heard of the NMLS? This type of thing ^^^... is why they exist.
    I'm cool with stifling a 2.25 factor rate. And I'll never sell a 2.25.

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