[WestCoastFunding]

I agree completely with this. I also just feel people put too much on someone being a direct lender. If someone is better at a certain type of file then I am and can get it done I have no problem with them doing it. I personally have a number of ISO's that send deals through me because they say they make more money going through me or get better buy rates then if they went direct to certain banks. I know I am not the only one this is true for. For those of us who have been around awhile some of the relationships we have built allow us to get pricing service and commissions others can't at certain banks. There are people I use for their relationships at the same time people use me for mine. As long as everyone is upfront about the relationship does what they say they will and pay commissions when they should these relationships can work for all parties.. I think a lot more deals would get done across the board if people worked together a little more.

I agree with all of this and do the same myself. Some brokers have valuable relationships that other brokers can benefit from. So I'm all for relationships.

With that having been said, this guys press release was just a repackaging of WBL. And I see no evidence yet that they are anything other than a broker packaging WBL (they give you 5 points and keep 3 for themselves). I really don't see anyone needing to find a person who has a relationship with WBL because if you check your spam box, there are dozens of WBL emails waiting for you.

[Chris7lender]

We agree, it is very important to be upfront. We started as a broker and have grown from there. We now work with in house monies and syndicated partners. This consolidation program was developed in house, which we are very proud of.

[ridextreme]

this could simply be a ploy for them to get leads to pitch a corporate restructure program.

[Sachip24]

again, its the same "consolidation" ML factors offers. They are not actually consolidating anything just giving merchant a larger advance with few extra months making their daily payment lower on that particular advance. Every week they will deposit enough to cover merchants current advances, merchant then in turn pays lower daily payments to them. merchant is not saving any money what so ever as in a real consolidation. What it does do though is free up merchants cash flow in the interim which could be of a benefit. But in the long run its a wash for the merchants, freeing up cash but still paying off a larger advance.

[Fund_It]

these guys reached out to me yesterday and I asked them the same questions you just did almost word for word. They said they do not restructure any of a merchants current advances in any way at all. I am waiting to get some more information but like you said if this is what they are doing they might be a nice add to the industry

So how the program works they are looking to save the merchant at least 25% on their daily payments every day. How it works is we are looking for merchants with 3 or more advances and instead of paying off the current lenders so they can just stack back on top of us what we will do is deposit the funds into their account each week on the day that merchant chooses to cover current daily payments then pull our reduced payment out daily. It is still being underwritten based upon Revenue as well as the formula used to come up with the consolidation. Whats great about the program its not an all or nothing program so if the merchant has 5 advances and only 2 make sense they will consolidate the 2 then come back and do the rest when they are ready. This program strategically in order to make sense for the merchant so they can save money all around even on top of the interest.

Now I have been offering this consolidation program to my merchants for the past 8 months and know they guy who came up with this, and i have never heard of Cast Capital

[ridextreme]

We now work with in house monies and syndicated partners.

I don't think syndicating on deals should qualify an ISO to be called a direct funder.

[AdvanceFund]

This is what ml factors does

Yeah we actually created the program a year or so ago.

[WestCoastFunding]

We agree, it is very important to be upfront. We started as a broker and have grown from there. We now work with in house monies and syndicated partners. This consolidation program was developed in house, which we are very proud of.

So this consolidation program is funded in-house? What name shows up on bank statements when you pull?

[TimeSquareConsulting]

Cash village started the program this year. We send alot of our consolidation to them u know what i mean dogg?

[WestCoastFunding]

Ive gotta tell you, Cash Village has a pretty awful reputation around here.

[Chris7lender]

Anthony, we don't condone or agree with how debt settlement companies operate. We are looking to make a good splash in this industry. We believe that merchants should satisfy their current contracts. We believe our program will be able to help out many businesses and give them some breathing room. Happy to answer any other questions.

[downtownfunding]

This consolidation program was developed in house, which we are very proud of.

No, it wasn't. You are brokering every single one of these files. Why lie?