Does Midnight Advance backdoor? and all your other questions answered.

**MidnightAdvance** · 04-13-2018, 12:04 AM

Midnight Advance -
The last few days we have seen our name on these threads excessively, so we wanted to take an opportunity to defend our company so that you can hear our side of the story. We realize that "there's no winning on the daily funder" since we are often responding with anonymous internet bloggers that can say whatever they feel, without real facts, however we will say what needs to be said. We would appreciate if you guys can respect us to close this as the last thread about this topic, and move on.

Midnight was founded about two years ago, we are operating in the high risk space as a high risk funder. There was a lot of confusion about our name, so here's the reality - we are a complete separate company and do not white label with any other funder. To verify this reality you can send us a deal that other funders are in, and see whether we will fund it (we probably will). The COJs are filed in our office, which is: 128 32nd Street. We share that office with 5+ MCA companies, most are on different floors/suites.

The office on 32nd street is actually very "cash advance friendly" since it was redesigned from an old storage building with modern high ceilings and big spacious suites.

When the company was started we preferred staying out of the spot-light since every well known funding company gets blasted on this Forum and it creates bad PR for the company, but since we did get blasted here 3 times, we tried defending our company. First with the 75k deal that was backdoored from Richard, which we did pay the full commissions, despite being double funded (TVT didn't fund in the end). Second was Karen who accused us of back-dooring a default deal, that was officially sent to Orange who officially sent it to LG. I completely deny this story. It never happened. Orange doesn't send deals to LG, neither does Midnight send deals to Orange, and definitely not default deals, that are doing 40k in revenue. The whole story was a lie. As far as the the third story, we did fund it, and we didn't pay that ISO since there was an in-house balance with another ISO that had exclusivity.

Do we backdoor? -

I don't think there's any ISO who we work with that had any issues getting the full commissions on time (we pay on Fridays). We paid more than $2 million in commissions in the last year. The $2 million+ in commissions that we paid are for deals that these ISOs would not be able to fund with a lot of other companies. We fund deals that a lot of other funders would not fund. (For instance the deal we funded for Richard, and paid him $7k, got rejected by most funding companies). We know what we bring to this market, and we're proud of it.

You will see us in statements, more and more. Eventually (with god's help) you will see us in every statement in the industry. Whether you decide to work with us or not, you will see our name a lot. If you choose to work with us, you will make a lot of money. If you choose not to work with us, you will hear of people who are killing it with Midnight.

All we ask is that you should respect our business and our privacy. If you think we are out to get you, don't even sign up with us. We don't want to work with ISOs who accuse us for "not answering emails on Passover" or "backdooring a default deal". There's no need to blast us on the daily funder, simply don't send us your business.

Here's my direct number, if anyone is interested in having a serious talk. Ask me whatever you want, let me see what I can fund for you. Call me: 646-757-9956

We will be seeing you guys at the Broker Fair, if anyone is interested in becoming an in-house rep, let's meet face to face to see whether we're a good fit.

[this is what we funded today - $200k Pizza shop, $200k real estate deal, $150k auto repair renewal, two $50k renewals, $35k renewal, $40k default deal, another eight $10k default deals]

**Cashman1** · 04-13-2018, 12:53 AM

Originally Posted by MidnightAdvance

Midnight Advance -
The last few days we have seen our name on these threads excessively, so we wanted to take an opportunity to defend our company so that you can hear our side of the story. We realize that "there's no winning on the daily funder" since we are often responding with anonymous internet bloggers that can say whatever they feel, without real facts, however we will say what needs to be said. We would appreciate if you guys can respect us to close this as the last thread about this topic, and move on.

Midnight was founded about two years ago, we are operating in the high risk space as a high risk funder. There was a lot of confusion about our name, so here's the reality - we are a complete separate company and do not white label with any other funder. To verify this reality you can send us a deal that other funders are in, and see whether we will fund it (we probably will). The COJs are filed in our office, which is: 128 32nd Street. We share that office with 5+ MCA companies, most are on different floors/suites.

The office on 32nd street is actually very "cash advance friendly" since it was redesigned from an old storage building with modern high ceilings and big spacious suites.

When the company was started we preferred staying out of the spot-light since every well known funding company gets blasted on this Forum (see below) and it creates bad PR for the company, but since we did get blasted here 3 times, we tried defending our company. First with the 75k deal that was backdoored from Richard, which we did pay the full commissions, despite being double funded (TVT didn't fund in the end). Second was Karen who accused us of back-dooring a default deal, that was officially sent to Orange who officially sent it to LG. I completely deny this story. It never happened. Orange doesn't send deals to LG, neither does Midnight send deals to Orange, and definitely not default deals, that are doing 40k in revenue. The whole story was a lie. As far as the the third story, we did fund it, and we didn't pay that ISO since there was an in-house balance with another ISO that had exclusivity.

Do we backdoor? -

I don't think there's any ISO who we work with that had any issues getting the full commissions on time (we pay on Fridays). We paid more than $2 million in commissions in the last year. The $2 million+ in commissions that we paid are for deals that these ISOs would not be able to fund with a lot of other companies. We fund deals that a lot of other funders would not fund. (For instance the deal we funded for Richard, and paid him $7k, got rejected by most funding companies). We know what we bring to this market, and we're proud of it.

You will see us in statements, more and more. Eventually (with god's help) you will see us in every statement in the industry. Whether you decide to work with us or not, you will see our name a lot. If you choose to work with us, you will make a lot of money. If you choose not to work with us, you will hear of people who are killing it with Midnight.

All we ask is that you should respect our business and our privacy. If you think we are out to get you, don't even sign up with us. We don't want to work with ISOs who accuse us for "not answering emails on Passover" or "backdooring a default deal". There's no need to blast us on the daily funder, simply don't send us your business.

Here's my direct number, if anyone is interested in having a serious talk. Ask me whatever you want, let me see what I can fund for you. Call me: 646-757-9956

We will be seeing you guys at the Broker Fair, if anyone is interested in becoming an in-house rep, let's meet face to face to see whether we're a good fit.

[this is what we funded today - $200k Pizza shop, $200k real estate deal, $150k auto repair renewal, two $50k renewals, $35k renewal, $40k default deal, another eight $10k default deals]

Should of wrote this last week instead of Mr Merchant!

Very good response! Good Luck!

However, don’t BS that you gave a default 40k!!

**mcaguru** · 04-13-2018, 01:05 AM

That’s great. I want to buy that pizza shop. Hit me off the record. He must be doing 5M a year to take a short term 200K. I want to do an equity deal with him. I’ll pay you commission!!

**Cashman1** · 04-13-2018, 01:18 AM

Originally Posted by mcaguru

That’s great. I want to buy that pizza shop. Hit me off the record. He must be doing 5M a year to take a short term 200K. I want to do an equity deal with him. I’ll pay you commission!!

I’m gonna start paying commission for every guy who calls you out for your BS!

**RefiRefiRefi** · 04-13-2018, 01:54 AM

**fundingsmbs** · 04-13-2018, 02:21 AM

For those who don't know this already, many funders have direct sales (retail) that market their turn downs to other funding companies. Whether its through their company or an entity they created to broker business. The real question is are those deals broker deals or direct marketing acquisition deals. There really isn't a way to know for sure. You will know soon after you submit to a company if they are a legit company to build a book with. I would say the majority of no names are not worth the effort to build any business with. We all know who the main players are and unless you want to stack deals 3-6 position deep, you really cannot cry foul play as the stacking itself is a violation of your ISO agreement with first position funders and the merchant contracts that have no stacking clauses. Because of this grey area of the business, we see a ton of backdooring dialogue in the mca space now. This didn't happen as much (it still happened though) when it was just a first position industry with a lot less funders and white labels in the marketplace. The articles about folks getting arrested, learning certain brokers were past felons, investors in this business being involved in usurious payday loan scams, etc etc all adds icing on the cake. These are all the symptoms of an unregulated business. So, let's not forget what it is we all do day to day, and crying foul play , just seems to be part of the culture/business now and you can choose to not sign up with the majority of newbie companies who solicit you, or, take a chance and know going in there is a chance that your deals will be stolen, shared, flipped over come renewal time, rogue employee stealing the data etc etc. Its the mca business. As you can see from the above claims, it is a large list of companies that folks have had issues with. you can either walk away and go do something else for a career or income, or, deal with today's current waters of the mca space. On the positive side, those who can figure out this game and make good incomes and build a healthy book of business, the reward may still be there.

Karen37a · 04-13-2018, 06:43 AM

Originally Posted by fundingsmbs

For those who don't know this already, many funders have direct sales (retail) that market their turn downs to other funding companies. Whether its through their company or an entity they created to broker business. The real question is are those deals broker deals or direct marketing acquisition deals. There really isn't a way to know for sure. You will know soon after you submit to a company if they are a legit company to build a book with. I would say the majority of no names are not worth the effort to build any business with. We all know who the main players are and unless you want to stack deals 3-6 position deep, you really cannot cry foul play as the stacking itself is a violation of your ISO agreement with first position funders and the merchant contracts that have no stacking clauses. Because of this grey area of the business, we see a ton of backdooring dialogue in the mca space now. This didn't happen as much (it still happened though) when it was just a first position industry with a lot less funders and white labels in the marketplace. The articles about folks getting arrested, learning certain brokers were past felons, investors in this business being involved in usurious payday loan scams, etc etc all adds icing on the cake. These are all the symptoms of an unregulated business. So, let's not forget what it is we all do day to day, and crying foul play , just seems to be part of the culture/business now and you can choose to not sign up with the majority of newbie companies who solicit you, or, take a chance and know going in there is a chance that your deals will be stolen, shared, flipped over come renewal time, rogue employee stealing the data etc etc. Its the mca business. As you can see from the above claims, it is a large list of companies that folks have had issues with. you can either walk away and go do something else for a career or income, or, deal with today's current waters of the mca space. On the positive side, those who can figure out this game and make good incomes and build a healthy book of business, the reward may still be there.

This is great....and true.

I will never have a 24 year old kid tell me "fk off im not paying you"

There are companies set up for the sole purpose of backdooring or backdoor anything they think they can get away with.

When merchants tell you ..."they told me not to speak to you again " and they fund and they dont pay...there is a problem

And I still want the money.

All that you are doing is letting this guy regroup and learn how not to get caught.

And for the 1000th time you are turning these brokers who dont get paid into debt relief, and some of us are tired of fighting off debt relief ( You dont even know we/isos/brokers are doing it nor say thank you)....so keep doing it

Karen37a · 04-13-2018, 06:53 AM

A company I worked for had some kind of issue with its w/2 brokers who got 2 %2 days into the business i had to hear this " they told me not to talk to you again" crap.And I became an iso with 30 brokers....so do whatever you want. It amazes me that some dont realize they are going to get caught.

And it was not worth having massive/ 1000's of brokers hate you.

And Funders either want the broker shops who are truly generating files(in compliance) of they want these backdooring people . The brokers who can close are going to be "strong-willed"

Brokers who can close, hold low to no default ratios, keep the stackers off and debt relief far far away should take precedent over backdooring lunatics.

There is a reason some of us have been in the financial system for 35 years with out ONE mark or $100 fine. If we wanted to steal we would have did it a looonggg time ago for millions. ( we could still do it if we wanted)...

No Honor Among theieves

Karen37a · 04-13-2018, 07:37 AM

Some of you asked why I didn't get my hedge funds friends money.

As the markets are crashing it exposes people living in slums. Like cockroaches...turn the lights on and they scatter.

That would have been great them saying "this is who you partnered with"

Keep the money ...I am going to write it off as charity and tell the broker to do so as well, instead of feeding the children in Africa we gave to the slums.

Im off for a mini vacation so have fun without me

BTW the Deal in question defaulted on TVT. they are not aware that this happened. I stopped and blocked defaults /switch ( so they didnt do it and stay active with payments)... one that was from Rapid and one from yellowstone...they are not aware either and they were not my original deals

Karen37a · 04-13-2018, 08:22 AM

Marcus....he has 3 of yours too. defaulted 130k on you.

____

And I am not blocking things from going to Debt Relief anymore when they are not my original deals and we just happen to randomly cold call them or get docs in.( except for the funders i do direct business with)

They( some funders*) are taking the deals...defaulting on others...re-funding( passing it) when you do not see it or catch it on merch and then ship them off the debt relief for another commission

Default programs my arse...think SOME of us are stupid

Karen37a · 04-13-2018, 09:53 AM

Second was Karen who accused us of back-dooring a default deal, that was officially sent to Orange who officially sent it to LG. I completely deny this story. It never happened. Orange doesn't send deals to LG, neither does Midnight send deals to Orange, and definitely not default deals, that are doing 40k in revenue. The whole story was a lie.

Lastly. This Kid is such a bad Liar... I never mentioned Lg ..i said XXX and i NEVER said 40k I said 15 k to trip your stupid arse up.

it was 40k and it did wind up with LG. That lady wanted to default...Isos ( not mine ) were going to CRUSH her for fraud but i pulled them off only because of LG

Everyone was blaming Yellowstone...I said it wasnt them.

And I told you to pull it back ...she defaulted on TVT and she might again

**Winning** · 04-13-2018, 09:56 AM

So much can be learned just by sitting back and observing. Even more to be learned when there are problems, and we have the opportunity to take a look at the internal parts. So much to learn!
image2.gif

Karen37a · 04-13-2018, 09:59 AM

Originally Posted by Winning

So much can be learned just by sitting back and observing. Even more to be learned when there are problems, and we have the opportunity to take a look at the internal parts. So much to learn!
image2.gif

yes last time the brokers got to see my selling style of getting people to call me , instead of me calling them.

Let me know when you want to enter finance and join the insanity

Gl

**Winning** · 04-13-2018, 10:34 AM

So me just analyzing the internal data that came from this post..
Richard was paid $7000, on $75000 deal. Which equals 9.33% commission payout.
MidnightAdvance paid $2,000,000 in commissions for 2017.
Which would mean MidnightAdvance funded $21,436,227 if they typically pay 9.33% commission.
MidnightAdvance is 1 of at least 5 other MCA companies located at 128 32nd Street.
So this 128 32nd Street location alone, funds at least $128,617,362 and pays out $11,999,999 in commissions, if the 6 companies there have similar funding and commissions as what MidnightAdvance has.

Typically how many times a day or month can "Richard" repeat this?
Richard is selling only the contract so to speak?
Richard is putting the person that needs the funds with the person that has the funds together, and makes 9.33%.
Richard has invested his time and developed some sort of system to find "motivated" people in need of funds.
Richard has none of his own money in the funding? (That is what you call infinite return.)
After funding, what risk does Richard have?

Karen37a · 04-13-2018, 10:41 AM

Originally Posted by Winning

So me just analyzing the internal data that came from this post..
Richard was paid $7000, on $75000 deal. Which equals 9.33% commission payout.
MidnightAdvance paid $2,000,000 in commissions for 2017.
Which would mean MidnightAdvance funded $21,436,227 if they typically pay 9.33% commission.
MidnightAdvance is 1 of at least 5 other MCA companies located at 128 32nd Street.
So this 128 32nd Street location alone, funds at least $128,617,362 and pays out $11,999,999 in commissions, if the 6 companies there have similar funding and commissions as what MidnightAdvance has.

Typically how many times a day or month can "Richard" repeat this?
Richard is selling only the contract so to speak?
Richard is putting the person that needs the funds with the person that has the funds together, and makes 9.33%.
Richard has invested his time and developed some sort of system to find "motivated" people in need of funds.
Richard has none of his own money in the funding? (That is what you call infinite return.)
After funding, what risk does Richard have?

Winning

Some of us care about our clients and we help them actualy expand when they cant get funding from banks.

You can thank the Dodd frank act for seizing up money to small and mid-size business.

On top of that don't forget 30% of these merchants default and play games so if you do not charge a certain amount everyone will be bankrupted.

Sba statistics on American business has almost all of them closed in 10 years...most do not make it to 2 years...50% more fold by 5 years...

Let me know when you want to be the funder and chip in money for these ye haws.

I have a 90% renewal ratio...merchants come back to those they trust...so that's what we have vested in this

ps the billion dollar funding is funny ***

**abfunders** · 04-13-2018, 10:44 AM

Originally Posted by Winning

So me just analyzing the internal data that came from this post..

If you want a job change, this is the place to learn, no question. I've learned so much from this board myself.
If you don't want to change over your job / business, then I'd recommend syndicating.
Either way, even though you're a merchant, you're welcome here

Just don't tell anyone that the brokers aren't forced to reveal their fees, and it could be as high as 20 points, and the only risk is that the merchant defaults within 30-45 days and the broker gets their commissions taken back.

Karen37a · 04-13-2018, 10:57 AM

Go watch the tv Show Bar Rescue.

Some lunatic older lady the other night's bar/restaurant was going under because she is a hippie and likes to play music that sucks and a tambourine . Sings music like lsd music from woodstock.

She refused to put the tambourine down and doesn't realize that's why she is going under.

All we see is the bank statements...i ask questions and i know the loonies tunes opened a restaurant to play the tambourine and i kill the files lol

Then I call the funder after some idiot steals it from me and i say" did he tell you about the hippe movement and the revival and the health code violations and eviction notice "
" No"
LOL

**Lmonus** · 04-13-2018, 11:23 AM

Originally Posted by RefiRefiRefi

Once again proving that CFG is the safest Funder to send a submission to. Have a good weekend everybody.

Thank you,

Lior Monus
CFG Merchant Solutions
Direct: 516-319-5826
Lmonus@cfgms.com

**mcaguru** · 04-13-2018, 11:29 AM

Originally Posted by Cashman1

I’m gonna start paying commission for every guy who calls you out for your BS!

Someone accused me of being Cashman1 and just going back and forth with my self LOL

**Cashman1** · 04-13-2018, 11:57 AM

Originally Posted by mcaguru

Someone accused me of being Cashman1 and just going back and forth with my self LOL

You can’t be me because every post I would do would be about your double digit commission, F16 fighter jets and “send to mantis”

**Sachip24** · 04-13-2018, 01:03 PM

Originally Posted by Lmonus

Once again proving that CFG is the safest Funder to send a submission to. Have a good weekend everybody.

Thank you,

Lior Monus
CFG Merchant Solutions
Direct: 516-319-5826
Lmonus@cfgms.com

Barack_Obama_Mic_Drop_2016.jpg

**NoBigDeal** · 04-13-2018, 01:45 PM

Originally Posted by fundingsmbs

For those who don't know this already, many funders have direct sales (retail) that market their turn downs to other funding companies. Whether its through their company or an entity they created to broker business. The real question is are those deals broker deals or direct marketing acquisition deals. There really isn't a way to know for sure. You will know soon after you submit to a company if they are a legit company to build a book with. I would say the majority of no names are not worth the effort to build any business with. We all know who the main players are and unless you want to stack deals 3-6 position deep, you really cannot cry foul play as the stacking itself is a violation of your ISO agreement with first position funders and the merchant contracts that have no stacking clauses. Because of this grey area of the business, we see a ton of backdooring dialogue in the mca space now. This didn't happen as much (it still happened though) when it was just a first position industry with a lot less funders and white labels in the marketplace. The articles about folks getting arrested, learning certain brokers were past felons, investors in this business being involved in usurious payday loan scams, etc etc all adds icing on the cake. These are all the symptoms of an unregulated business. So, let's not forget what it is we all do day to day, and crying foul play , just seems to be part of the culture/business now and you can choose to not sign up with the majority of newbie companies who solicit you, or, take a chance and know going in there is a chance that your deals will be stolen, shared, flipped over come renewal time, rogue employee stealing the data etc etc. Its the mca business. As you can see from the above claims, it is a large list of companies that folks have had issues with. you can either walk away and go do something else for a career or income, or, deal with today's current waters of the mca space. On the positive side, those who can figure out this game and make good incomes and build a healthy book of business, the reward may still be there.

Bravo and fully agree!

**NoBigDeal** · 04-13-2018, 01:50 PM

Originally Posted by Lmonus

Once again proving that CFG is the safest Funder to send a submission to. Have a good weekend everybody.

Thank you,

Lior Monus
CFG Merchant Solutions
Direct: 516-319-5826
Lmonus@cfgms.com

Haha, not making accusations at you Lior, but you can't realistically use the DF as proof that you're the cleanest shop. That's like quoting Wikipedia for factual information

**fundingsmbs** · 04-13-2018, 03:55 PM

it's really not that difficult. all deals brokers submit are entered by a data entry personnel into a crm system. through that crm system and api's , that information can be submitted to several other companies as a submission without ever having to submit your actual paper application. it's just the dirty little secret of the industry. companies fund deals with other companies they decline, and/or, syndicate on those deals with other companies. if you think your application/data is not being seen by anyone else, think again.

here's an example of a position by National Funding outlining their policies of submissions to external lenders- (again, if its self sourced vs a brokers deal, its not an issue as everyone wants to monetize deals)

The Syndication Processor will oversee the inbox and updates pertaining to external lender communication to our internal Sales Team, and assist the Analyst staff by resubmit deals to external lenders.

Your Key Responsibilities
• Organization of department inbox consisting of lenders updates and general communications.
• Provides updated information to internal Sales Team by answering questions and requests.
Secondary/Additional Responsibilities (when Needed)
• Enter, update and retrieve data for credit applications.
• Using a variety of resources, verifies client business information, including: business name, place of business, time in business, ownership, etc.
• Ensures all approved applications are in compliance with company and lender guidelines.
• Responds to inquiries from sales, funding, documentation and lenders

**HDF** · 04-13-2018, 04:30 PM

^ Open range. Rarely any thought given to who is "advising" the client. Just herding cattle. Anybody's cattle for a buck regardless of any brand on the hindquarter.

It's comical actually. Until it stops.

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