[MidnightAdvance]

We were handed a file for a growing Logistics entity doing 300-500k per month with horrible balances and negative days. Being that the receivables were not leveraged we sent it out to a few Sub Prime shops and told them that if you get the client some short term capital, we have had conversations with competitive AR groups that would take out their high risk position shortly.

Spoke to the CEO's/Owners of the group(s), and produced documentation showing that the client was not in contract with another factor/ABL shop. Received a soft offer, then had contracts sent. Before the client could send back contracts, the client received contracts (WE HAVE THE EMAIL TRAIL THAT LEADS BACK TO SOLOMON at MIDNIGHT) for a higher amount from another funder- who gave Midnight the permission to White Label on their paper the day before.

Question is: is saving the $5000 in commission worth everyone knowing that you're not worth dealing with? If we were to look at the APR on this deal, the Funders return on Investment would be over 100%. Is that not enough?

We were charging our ISO only for our time- and he was to make the Lion's share of the commission- our play was the AR deal on the back end.

Since this happens all the time I wonder how many times people on this Blog have been messed with..

I wonder why you would scam a funder in taking a first position deal, when you know the deal is getting funded by another funder, for a $5000 commission you would ruin your reputation on this forum??

[J.Celifarco]

I wonder why you would scam a funder in taking a first position deal, when you know the deal is getting funded by another funder, for a $5000 commission you would ruin your reputation on this forum??

yep if an ISO does that any other bank on here will think twice about working with them if they did that. It goes both ways, the ISO's learn what banks they should work with and the banks learn what ISO's to stay away from.

[WestCoastFunding]

I wonder why you would scam a funder in taking a first position deal, when you know the deal is getting funded by another funder, for a $5000 commission you would ruin your reputation on this forum??

From my understanding, Richard sent the deal to a broker, who then sent it to you. You then backdoored it to YSC. It seems they went to TVT to get around your YSC contract, but then you got blasted and came back and offered money. The broker then may have double-funded.

Is that correct? If so, not sure how that’s on Richard, nor do I see how that absolves you? Someone sent you a deal, and you then backdoored. If that’s not the case, please explain. You had a chance to explain yesterday but you kept giving excuses why you didn’t want to talk about it in public. Today, you’re all “publicky” acting. How about some clarity?

[CraaaCraaa Radio]

I wonder why you would scam a funder in taking a first position deal, when you know the deal is getting funded by another funder, for a $5000 commission you would ruin your reputation on this forum??

What is the ISO name Midnight Advance?

As it seems already your reputation is getting hammered!!!