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  1. #26
    Member Reputation points: 7855 Richard Gomez's Avatar
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    With that 50% discount pitch, it reads as debt relief to me, no good...
    Gómez Capital Funding
    Richard Gómez~Director of Funding
    12555 Biscayne Blvd
    North Miami, FL 33181
    917.600.5647 Mobile
    305.320.7125 Office
    305.513.5735 Fax
    Richard@gomezcapitalfunding.com
    www.gomezcapitalfunding.com

  2. #27
    Karen37a
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    Quote Originally Posted by MCABroker View Post
    LOLOLOLOL his hedge funds must have passed on the deal.!! Karen usually I skip over your rants but I love this!!


    Well, Mcn I am glad I am not typing for the 5-10 few of you who are friends...and the one that left.lol

    As someone said ...we don't exist in a bubble...many may many people see these boards it isn't private. That being said Rant # 1099 b

    ___


    The way that you get 50-% off is to do something called an "offer in compromise"

    The Lender /Funder/Creditor/Collection Agency/Investor has to agree to forgive the debt...20% ,50% 80% whatever it is. And some will never settle.
    I have a 100% history of never settling, not in investments, mortgages etc. There are people who will never settle no matter what. They would rather take the loss and then sue back as an example for all the other yee-haws that will come after them.

    And *** If you settle ( the borrower/merchant etc on certain debt ) it will say on your credit " settled debt" in the notes section or something similar.

    That has now fked your credit for the next 7-10 years. When you get on the wrong side of someone they can take you to the map and get a judgement against you, and that judgement will last 10-20 years depending on the state you are in...and it can be re-uped in certain states on the last year for another 3-10.

    So get a nasty ruthless Bch or bstard on the other side of the phone with you, when all the fun and games stop and see what happens.

    I get furious when someone is going to default etc.( or not pay my isos commission as people have seen) And it's not even my money...you( ( some) are not tangoing with kindergarten teachers

    never mistake kindness for weakness

    ]If you do not dot all your I's and T's on Debt Relief your office or home office will get raided(id like to be a fly on the wall with some broker/debt relief in his dirty socks and underwear being thrown to the ground , personal property seized and sold at auction and in some cases arrested. I am sure some of these Big Funders have Attorneys on retainer.....so you better cherry pick which files you tank, better yet...dont do it


    Debt relief and offer and compromises have been around since the people who lost money on wall st tried to strong arm their broker and get their money back...with the threat of making a complaint on your stockbrokers licence that stays on your licence FOREVER even if you are innconcent....some need to rethink.. how did someone work for so many years and not have a mark? You asked it enough times. ( It wasnt from being pushed around by some 2 bit broker driving uber) , or on the opposite side you are messing over some tough shady characters, or just some very tough ruthless financial people.
    Last edited by Karen37a; 06-27-2018 at 10:17 AM.

  3. #28
    Karen37a
    Guest
    And I am not a Tax Consultant **

    When you settle certain debt...not only will it show on your credit ( and settled debt is worse than a collection) because people think if you did it once, you can do it again so I am not lending to you or offering you credit.

    The creditor can elect to send you 1099 c and that must be reported as taxable income.

    This is why its best for merchants-borrowers-people have a live person( iso/broker) who has the experience to help them make the right decisions for the health of their business and themselves going forwards.

    No automated system can ever take away "consultative selling" and best advice.

    Some brokers are all about rate rate rate...some are about the growth of the personal business with best advise as evidenced by the doubling or revenue of 50% of their merchants ( who then come back for a renewal...)

    This is how brokers earned their measly 2-3 psf fee ( everyone who argued against it vehemently is gone and it was a sign they didn't give consultative advice to help anyone or understand the process)

    Sometimes the best advice is 1.50 take it or leave it
    Last edited by Karen37a; 06-27-2018 at 10:31 AM.

  4. #29
    Best way to pay off cash advances debt is with EQUITY in any RE owned, ex. Merchant owes total of $120,000 in cash advances with 3 positions over 160 days, which is hurting his cash flow. However he owns the property where his factory is located with a value of $750,000 and $300,000 in equity. Term Loan Lender gives merchant 60% of the equity or $180,000 to pay off the cash advances with a term loan @ 9.99 APR, P+I over 60 months, 30 year amortization. All positions gone and merchant now has payments he can afford.
    Last edited by ava712; 06-29-2018 at 07:08 PM.

  5. #30
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    Quote Originally Posted by ava712 View Post
    Best way to pay off cash advances debt is with EQUITY in any RE owned, ex. Merchant owes total of $120,000 in cash advances with 3 positions over 160 days, which is hurting his cash flow. However he owns the property where his factory is located with a value of $750,000 and $300,000 in equity. Term Loan Lender gives merchant 60% of the equity or $180,000 to pay off the cash advances with a term loan @ 9.99 APR, P+I over 60 months, 30 year amortization. All positions gone and merchant now has payments he can afford.
    Your website claims you reduce MCA debt by 50%. How?

    You do realize that by refinancing MCA with Mortgages, you are going to increase the debt. Absolutely it will help cash flow and debt service coverage ratio, but debt isn’t being cut. Debt is literally going to increase.

    So once again, just how the **** do you “reduce MCA debt by 50%” if the product you’re offering isn’t corporate turnaround? That you blatantly offer that **** on your site should tell funders to stay the hell away from you.

  6. #31
    Karen37a
    Guest
    Quote Originally Posted by WestCoastFunding View Post
    Your website claims you reduce MCA debt by 50%. How?

    You do realize that by refinancing MCA with Mortgages, you are going to increase the debt. Absolutely it will help cash flow and debt service coverage ratio, but debt isn’t being cut. Debt is literally going to increase.

    So once again, just how the **** do you “reduce MCA debt by 50%” if the product you’re offering isn’t corporate turnaround? That you blatantly offer that **** on your site should tell funders to stay the hell away from you.

    And I can make the argument that struggling business's who are not making enough money at the end of the month to cover their business expenses who then take out cash advances or loans and still cant catch up, need to look inward and not blame the cash advance for the failure of business...sba statistcs show the majority of business going under or out in 10 years.

    So some fool who never should have been an entrepenur...or self-employed small business is now going to not only add more debt to the equation but attach his property and come into the grasp of the dreaded

    "loan to own " people....and then lose their property along with the business.. because some of those guys lend with the sole intention of foreclosing.
    Last edited by Karen37a; 06-29-2018 at 10:29 PM.

  7. #32
    Karen37a
    Guest
    And this is why there are cash advances...the banks do not want to lend into a "failure "pool of American business because just like in sales with a 5 % survival rate the same is true for the 1099 self-employed business men and women.


    Anyone who is dragging the rates down to 9%-18% will be out of business or show massive losses, or create secured instruments to purposefully foreclose...no way out

    And that's a topic for the investor committees when they are comparing cash advance to loans

    Sucess numbers are even smaller on private placements....cash advance is the better way to go for investors IMO ** and you must be an accredited investor seek out advice of a professional **


    ** this person doesn't realize that if they give a loan...someone will do debt relief on them...loan modifications...tie them up in courts for years
    Last edited by Karen37a; 06-29-2018 at 10:48 PM.

  8. #33

  9. #34
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    Quote Originally Posted by ava712 View Post
    And it still says the same thing....nowhere does it mention they need to use assets to do it
    Joseph Boyle
    Skyline Funding
    Joseph@Skyline-Funding.com

  10. #35
    You sound like a real low life just by your language. With a Low IQ too. I dont know what a corporate turn around is. Are you talking about a loan modification? THIS IS 100 % NOT THAT. But youre too stupid too figure that out. In fact, I just did one of these this past week. Got merchant $550,000 7 Year TERM LOAN @6.99% APR against a piece of property he owned. He paid off his 2 MCAS with that. How difficult is that to understand? I do these all the time.

  11. #36
    You sound like a very uneducated person, just by your language. With a Low IQ too. I dont know what a corporate turn around is as far as MCAs. Are you talking about a loan modification/consolidation? I am totally against those because once done, it places the merchant on a list where they can never get another funding. And in my opinion those deals are rip-offs. THIS IS 100 % NOT THAT. But youre too stupid too figure that out. In fact, I just did a term loan this past week for one of my merchants. Got merchant $550,000/ 7 Year TERM LOAN @6.99% APR 30 yr amortization against a piece of property he owned. He paid off his 2 MCAS with that. How difficult is that to understand? I do these type loans all the time. At least, the merchant can live with the payments.

  12. #37
    So what? Thats the whole point, they have to call to find out how to do it.

  13. #38
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    Quote Originally Posted by ava712 View Post
    You sound like a real low life just by your language. With a Low IQ too. I dont know what a corporate turn around is. Are you talking about a loan modification? THIS IS 100 % NOT THAT. But youre too stupid too figure that out. In fact, I just did one of these this past week. Got merchant $550,000 7 Year TERM LOAN @6.99% APR against a piece of property he owned. He paid off his 2 MCAS with that. How difficult is that to understand? I do these all the time.
    And you did NOT REDUCE THEIR DEBT. You INCREASED their debt. Period.

    Now explain why your website says your program cuts debt by 50%? Nothing you have said has explained how you reduce debt by 50%.

    Funders, you should run from this company, since they obviously offer corporate turnaround.
    Last edited by WestCoastFunding; 07-06-2018 at 09:23 PM.

  14. #39
    Karen37a
    Guest
    Debt Restructuring

    Reduces Debt and Extends It Over a Longer of Period, with Affordable Payments
    Can Reduce Debt by up to 50%
    Restructure Program Can Help with Eligibility for New, Fresh Start Loan
    Helps Avoid the High Cost of Bankruptcy
    Bundles All Debt into One Easy Payment
    See Up to 60% More Cash Flow
    Lowers Interest Rates
    Stops Harassing Phone Calls from Debtors
    Cost Effective for Small Businesses
    Helps End Litigation

    https://www.fundswired.com/home/debt-restructuring/


    I can see you took it down.

    Just for clarity...when he is saying "corporate turnaround" that is the name of a company who does "debt restructuring" or "debt relief" "loan modifications" it all involves negotiation on the original contract to break the agreements, lower interest or cost or total dollar amount in lieu of possible bankruptcy.

    People get charge hefty fees for services like this and the fees would have been better off going to the Funder to pay off the debt.

    I am experienced in this because in my last life adventures in loans I offered people alternative to debt relief in the form of "advice" and "debt management" and "budgeting" to avoid the dreaded Crop turnaround people and Lawyers who are just going to take you into bankruptcy

    One of the solutions is getting a new loan like you describe and lower the payments, extend out terms...A loan that doesn't require net 50.

    Most people cant qualify for this as stated property must be attached..ltv or other things...credit

    Attaching property to get a loan that has longer terms and lower payments is a solution for consolidation and lower payments...it doesn't reduce the debt it helps with peace of mind and liquidity cash flow.

    I came from the Loan industry and cash advance is an alternative to those solutions which most cant attain.

    If you are then turning the other ones over to "debt restructuring"...takes about 90 days until it gets figured out.

    I personally do not like when people like that come near my merchants because they do not have more information than I do...even if you bring a lawyer to the table...he better specialize in Financial Services...not just be a divorce attorney or bankruptcy one.

    Because as I stated if you do not Dot every I and cross Every T experts will know it and you can get in big big trouble. People can only take so much. Massive people were arrested in Florida for Debt Relief...massive...they did sweeps..Property seized, assets seized every broker thrown to the floor by people in swat outfits with guns...demanding "wheres your telemarketing licence" .

    You get a felony for it...and the manager gets a Felony for every person in their office without a licence

  15. #40
    Karen37a
    Guest
    Also be careful who you send off to get certain loans....they know they are in imminent breach or default and might give a loan to foreclose or THEY send it to debt relief or backdoor you for a mca.


    I saved at least 100 grandmas in my life from the clutches of the loan to own people...I'm tired...don't do it

  16. #41
    Karen37a
    Guest
    All this being said

    When some Funders took the "book of business" away from some very experience Isos

    you had NO CHANCE against debt relief and defaults

    Some didn't realize you had volunteers protecting the book of business in the form of 1099 brokers

    good going

  17. #42

    New Type Loan

    Quote Originally Posted by J.Celifarco View Post
    the second you promote corporate turnaround or any of those companies you lose all legitimacy in my mind
    You have no idea what Im talking about! I was talking about replacing a MCA with the following, if the merchant has Property, Or Another similar program that does Not require more than $35,000 Gross Annual Sales. I was NOT TALKING ABOUT MODIFICATION OR ANYTHING SIMILAR!!!!

    Type: Term Loan/Asset
    YRS: 12-48 mos
    Rates: 1.12% to 1.18%
    Time: 5-7 Business Days
    Amount: $100,000 to $2MM+ OR 10-15% Of Gross Annual Sales
    Payment: Monthly ACH
    __________________________________________________ __________

    QUALIFICATIONS:
    -FICO: 620+
    -Must: Own A Business
    -Annual Gross Revenue: Must Exceed $1MM
    -NO: Bks/Tax Liens/Judgements
    -Must Have: Real Estate to Collateralize Loan Utilizing 100% LTV, taking 2nd 3rd Position on AVAILABLE EQUITY, up to the Loan Amount.
    -Loans Are Based On:
    1) Creditworthiness
    2) Business Cash Flow
    3) Real Estate Collateral
    NOTE:
    -No Raw Land
    -Has to Be Property on Land
    -Primary Residence, OK,
    (Except in Homestead States)
    -No More Than 3 NSFs in Bank Statements

  18. #43
    I dont do many MCAs anymore. I do mostly real loans, not debt managemant or those modifications. I was surprised that people took the info in the wrong way. And I guess because people know more about these modifcation deals than I do.I would never under any circumstance do amodification and put business owners in a position where they are forever blackiisted.

  19. #44
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    Quote Originally Posted by ava712 View Post
    You have no idea what Im talking about! I was talking about replacing a MCA with the following, if the merchant has Property, Or Another similar program that does Not require more than $35,000 Gross Annual Sales. I was NOT TALKING ABOUT MODIFICATION OR ANYTHING SIMILAR!!!!

    Type: Term Loan/Asset
    YRS: 12-48 mos
    Rates: 1.12% to 1.18%
    Time: 5-7 Business Days
    Amount: $100,000 to $2MM+ OR 10-15% Of Gross Annual Sales
    Payment: Monthly ACH
    __________________________________________________ __________

    QUALIFICATIONS:
    -FICO: 620+
    -Must: Own A Business
    -Annual Gross Revenue: Must Exceed $1MM
    -NO: Bks/Tax Liens/Judgements
    -Must Have: Real Estate to Collateralize Loan Utilizing 100% LTV, taking 2nd 3rd Position on AVAILABLE EQUITY, up to the Loan Amount.
    -Loans Are Based On:
    1) Creditworthiness
    2) Business Cash Flow
    3) Real Estate Collateral
    NOTE:
    -No Raw Land
    -Has to Be Property on Land
    -Primary Residence, OK,
    (Except in Homestead States)
    -No More Than 3 NSFs in Bank Statements

    You claimed the product you sold reduced debt by 50%. Hard money loans (what you describe above) do not reduce debt by 50%. It literally INCREASES the debt.

    So what product were you referring to that reduces debt by 50%? If someone owes $100K, how does the product reduce the debt to $50K as you claim?

  20. #45
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    Quote Originally Posted by ava712 View Post
    Type: Term Loan/Asset
    YRS: 12-48 mos
    Rates: 1.12% to 1.18%
    Time: 5-7 Business Days
    Amount: $100,000 to $2MM+ OR 10-15% Of Gross Annual Sales
    Payment: Monthly ACH
    What the hell is this for a loan rate??
    "Rates: 1.12% to 1.18%"

    2nd, 3rd position on 100% LTV. Amazing
    Last edited by HDF; 07-25-2018 at 07:10 PM.

  21. #46
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    Quote Originally Posted by WestCoastFunding View Post
    You claimed the product you sold reduced debt by 50%. Hard money loans (what you describe above) do not reduce debt by 50%. It literally INCREASES the debt.

    So what product were you referring to that reduces debt by 50%? If someone owes $100K, how does the product reduce the debt to $50K as you claim?
    Looks like LiftForward's product.

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