Results 1 to 13 of 13
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05-30-2014, 11:57 AM #1
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- Jul 2013
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- 352
Improving Transparency for Alternative Lenders, Loan Brokers
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05-30-2014, 11:59 AM #2
- Join Date
- Jul 2013
- Posts
- 352
This could be a boon or a bust depending on who establishes the certification. I think a separate entity from NAMAA would be step in the right direction for alternative finance providers.
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05-30-2014, 12:02 PM #3
totally agree....we need another organization
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05-30-2014, 12:37 PM #4
- Join Date
- May 2014
- Posts
- 317
I think whatever organization gets created should have a vetting process. The last thing we need are predatory people in this new organization posing as "do-gooders" so to speak.
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05-30-2014, 12:49 PM #5
Coincidentally, industry insiders are anonymously echoing much of the same. Some of the statistical results of this industry survey are going to be reported in the next magazine issue of dailyfunder. If you haven't taken it yet, please do. It only takes 2 minutes and it's anonymous.
https://www.surveymonkey.com/s/alter...ness-financing
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05-30-2014, 01:27 PM #6
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05-30-2014, 02:39 PM #7
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Sounds like a good idea. Price transparency will prevent some brokers from charging excessive closing costs and will add legitimacy to MCA pricing. It's a good thing for merchants and for the industry as a whole.
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05-31-2014, 03:39 PM #8
- Join Date
- Jan 2014
- Posts
- 283
I agree, the added legitimacy is very much needed, not just to shut useless bloggers like Ami up, but to make Main Street more aware that our products are out there for them.
My problem with Ami Kasser is that he is in the Alternative Lending industry and when he slams us, he doesn't even accurately describe what we do. He may have some legitimate points regarding WBL, but when he is constantly referring to "250% APR" or whatever, it really pisses me off and is flat out lazy journalis...... I mean blogging. a Cash Advance is a purchase of future sales at a discount, right, so how can it have an APR? Technically, it's not even a loan! I have read 3 or 4 of his blogs and not once is this mentioned.
A good idea for the next Issue of Daily Funder would be an interview/debate with Ami and someone from this industry who is well known and respected.
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05-31-2014, 07:57 PM #9
- Join Date
- Jan 2013
- Location
- New York City
- Posts
- 409
Certification without data driven consumer input may be worthless. I don't see how this works without the customer. Anyone with enough money can pay a non gov entity for certification. If you took this certification initiative to the customer to have them rate and rank funders, some regular contributors here won't make the cut...
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06-01-2014, 01:07 PM #10
Improving Transparency for Alternative Lenders, Loan Brokers
As far as Ami Kassar's blog goes, keep in mind that the whole idea behind his type of blogging is marketing , to draw attention to his Business, push his agenda, and attract clients to his business. With that in mind, of course he is going to paint providers of products competing with him as "evil"! Bottom line, it is unrealistic to expect objectivity from his blog...much less the whole truth.
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06-02-2014, 08:37 AM #11
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- May 2014
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- 317
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06-02-2014, 09:59 AM #12
- Join Date
- Dec 2013
- Posts
- 4,713
Ami is probably a great human being but please!!!! in article Ami describes on the right side of his photo """""MultiFunding at times accepts fees from lenders that agree to make loans""""" that's the language that really cry's for his editorial to be written in the first place!! Ami writes that (get a load that!) at times he "accepts" fees from lenders! one can imagine he accepts them like red cross accepts donations!! you can almost think that if ondeck does not pay him his commission he walks away like a girls scout walks away from a home that no one answers the door.
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06-20-2014, 03:02 PM #13
- Join Date
- Jun 2014
- Posts
- 8
Improving Transparency for Alternative Lenders, Loan Brokers
do you guy help with start up cause I already have my contract
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