[skideeppow]

anyone else see this? I was not able to download the article.
If someone has access please post it up.

[J.Celifarco]

https://debanked.com/2018/05/rapid-c...rican-bancard/

[MCNetwork]

The full complaint reads like an episode of Billions

[skideeppow]

wow that complaint is rough.

[mcaguru]

2 sides to every story that's why we have judges. for some reason i could never get either of these 2 companies to work with me (and that's extremely rare)...

[Michael I]

is rapid capital that big ? where do they get the numbers from ?

[ryan $]

is rapid capital that big ? where do they get the numbers from ?

Rapid Capital was big. They had an Inside sales team and spent a **** ton of money on inbound leads

[Michael I]

Rapid Capital was big. They had an Inside sales team and spent a **** ton of money on inbound leads

with funding themselves or brokering? i see rapid advance all the times on bank statements but i cant remember the last time i saw rapid capital

[ryan $]

with funding themselves or brokering? i see rapid advance all the times on bank statements but i cant remember the last time i saw rapid capital

Rapid Capital funded themselves. I believe towards the end they passed off their declines to Yelllowstone.

[mcaguru]

Pass-off declines vs selling offers is different them submitting... i have a program for that if a company is NOT looking to work the deal and just collect HEFTY-HEFTY commissions they can Email-me about to discuss Couch Potato Program.

[WestCoastFunding]

Pass-off declines vs selling offers is different them submitting... i have a program for that if a company is NOT looking to work the deal and just collect HEFTY-HEFTY commissions they can Email-me about to discuss Couch Potato Program.

Also known as the “see below3” program.

[fundingsmbs]

rapid capital is based in florida. different rapid than Maryland. they were purchased by NAB, a large processing co. NAB also had capital for merchants as another co they owned that funded deals. primarily, they worked through their NAB agents and merchants as they have a huge portfolio. they also acquired total merchant services giving them access to all of those merchants to market to. as far as sending ysc or other co deals for declines, that's what everyone seems to be doing these day's to monetize. fund the crème of the crop, submit elsewhere for lower grade paper.

[Chambo]

TOTAL MERCHANT SERVICES....isn't that the company that was on SHARK TANK?

[WestCoastFunding]

TOTAL MERCHANT SERVICES....isn't that the company that was on SHARK TANK?

Total Merchant Resources

[Jess]

is rapid capital that big ? where do they get the numbers from ?

They disclose the actual 2014 results and pro forma 2015-2016 in an Exhibit. Rapid lost money in 2014 and it's debt exceeded the value of its portfolio....so a $15 million buyout was an amazing offer! Earn-outs are always precarious as the buyer has a perverse incentive to make the hurdles high. We saw this when GRP won a settlement from BFS when BFS allegedly handcuffed GRP's operations. Having said that, Craig's rep at NAB is not exactly a secret-but these allegations are nuts.

[Karen37a]

They disclose the actual 2014 results and pro forma 2015-2016 in an Exhibit. Rapid lost money in 2014 and it's debt exceeded the value of its portfolio....so a $15 million buyout was an amazing offer! Earn-outs are always precarious as the buyer has a perverse incentive to make the hurdles high. We saw this when GRP won a settlement from BFS when BFS allegedly handcuffed GRP's operations. Having said that, Craig's rep at NAB is not exactly a secret-but these allegations are nuts.

Some of us came into this industry at a disadvantage ...looked around ...said "not me" ..broke free and ran

Amazing how stupid people think some are

[shieldfunding]

with funding themselves or brokering? i see rapid advance all the times on bank statements but i cant remember the last time i saw rapid capital

they show up as specialty finance
..they are solid and great to work with plus pay daily on syndication which is a big for me ... did quite a few large deals with them recently

[mcaguru]

FYI
I do know in the credit card processing world (my original playing field industry) Marc Gardner had a super steller reputation with his NAB as in all his agents never had issues and his word in that space was golden!! .... met him a few times.... regarding this situation its just not my business to want to know any more details on the matter.

[mcaguru]

they show up as specialty finance
..they are solid and great to work with plus pay daily on syndication which is a big for me ... did quite a few large deals with them recently

thats interesting .. i saw a nice term sheet that a fund did in MI called specialty funding and could not figure out who it was (i just figured it was a SPV one of the large MI funding houses used for the deal... ok makes sense.

[fundingsmbs]

They disclose the actual 2014 results and pro forma 2015-2016 in an Exhibit. Rapid lost money in 2014 and it's debt exceeded the value of its portfolio....so a $15 million buyout was an amazing offer! Earn-outs are always precarious as the buyer has a perverse incentive to make the hurdles high. We saw this when GRP won a settlement from BFS when BFS allegedly handcuffed GRP's operations. Having said that, Craig's rep at NAB is not exactly a secret-but these allegations are nuts.

how much did they settle for to buyout the previous owner of grp? it look s like bfs retained the name of grp companies inc however as marc and Michael M remain listed as senior management of that corporation. was it more of a buyout owner and keep everything else intact , business as usual ?