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  1. #1
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    Grp

    anyone know why GRP funding is collecting daily "BFS recvbls ACH" -- (just received recent statements from my client I funded with GRP)
    I was under the assumption that BFS and GRP are two separate companies with no affiliation... there was a lawsuit between the two companies in the past.. anyone have some insight here?

  2. #2
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    They are the same company.

  3. #3
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    they sold to bfs in 2015. the owner than sued BFS for breach of contract and was settled but that doesn't mean the acquisition didn't go through. bfs had a similar venture with GBR out of Atlanta where folks didn't realize BFS actually owned GBR as well. So, your ISO agreements state affiliate, which means, when you send deals, it goes to BFS. Part of that suit mentioned the ach debits were suppose to state grp vs bfs I guess that hasn't been changed. i would contact whoever runs the ship over there at grp and discuss.

  4. #4
    Veteran Reputation points: 148146 J.Celifarco's Avatar
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    I am pretty sure they are separate companies. GRP used their paper for loans but they were never acquired buy BFS
    John Celifarco
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    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
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  5. #5
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    John,

    Think you may be off on that. grp companies inc is owned by BFS. The agreement between the two was an asset sale in '15.

    Information
    SosId: 1430411
    Status: Current-Active
    Annual Report Status: Current
    Citizenship: Foreign
    Date Formed: 3/3/2015
    Fiscal Month: December
    State of Incorporation:
    DE
    Registered Agent: Corporation Service Company
    Addresses
    Mailing
    1350 Main Street
    Springfield, MA 01103-1628
    Principal Office
    1350 Main Street
    Springfield, MA 01103-1628
    Reg Office
    2626 Glenwood Avenue, Suite 550
    Raleigh, NC 27608
    Reg Mailing
    2626 Glenwood Avenue, Suite 550
    Raleigh, NC 27608
    Officers
    Executive Director
    Marc Glazer
    3301 North University Drive
    Coral Springs FL 33065
    President
    Michael Marrache
    3301 North University Drive
    Coral Springs FL 33065-4149

  6. #6
    Veteran Reputation points: 148146 J.Celifarco's Avatar
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    Quote Originally Posted by fundingsmbs View Post
    John,

    Think you may be off on that. grp companies inc is owned by BFS. The agreement between the two was an asset sale in '15.

    Information
    SosId: 1430411
    Status: Current-Active
    Annual Report Status: Current
    Citizenship: Foreign
    Date Formed: 3/3/2015
    Fiscal Month: December
    State of Incorporation:
    DE
    Registered Agent: Corporation Service Company
    Addresses
    Mailing
    1350 Main Street
    Springfield, MA 01103-1628
    Principal Office
    1350 Main Street
    Springfield, MA 01103-1628
    Reg Office
    2626 Glenwood Avenue, Suite 550
    Raleigh, NC 27608
    Reg Mailing
    2626 Glenwood Avenue, Suite 550
    Raleigh, NC 27608
    Officers
    Executive Director
    Marc Glazer
    3301 North University Drive
    Coral Springs FL 33065
    President
    Michael Marrache
    3301 North University Drive
    Coral Springs FL 33065-4149
    I could be wrong wouldnt be the first time
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  7. #7
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    so what was the lawsuit between the two about...

  8. #8
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    https://www.pacermonitor.com/public/...ies,_Inc_et_al

    too extensive to write out. its public data

  9. #9
    Veteran Reputation points: 148146 J.Celifarco's Avatar
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    maybe I am missing something but if bfs owed grp why would grp sue the company that owns them
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  10. #10
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    Quote Originally Posted by J.Celifarco View Post
    maybe I am missing something but if bfs owed grp why would grp sue the company that owns them
    I don't know the story John, but I have seen other cases where a seller sues a buyer post closing because something that was promised in a deal was not delivered.
    [B]Kevin Henry

  11. #11
    Veteran Reputation points: 148146 J.Celifarco's Avatar
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    Quote Originally Posted by kevinhenry0527 View Post
    I don't know the story John, but I have seen other cases where a seller sues a buyer post closing because something that was promised in a deal was not delivered.
    yeah I guess possible
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  12. #12
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    Quote Originally Posted by kevinhenry0527 View Post
    I don't know the story John, but I have seen other cases where a seller sues a buyer post closing because something that was promised in a deal was not delivered.
    the APA was a stock option vs a cash payout for the sale with specific language on benchmarks that had to be met to get the value of sale. if you read the suit, it lists all the reasons why the previous owner had to sue. my understanding is the owner settled and is no longer in the business. if that's the case, than, it would make sense why BFS is showing up in the debits. Essentially, that would make GRP a satellite office for BFS.

  13. #13
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    While stylistically different, each’s pricing matrix is the same.

  14. #14
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    https://debanked.com/2018/05/rapid-c...rican-bancard/

    here is another one ongoing. This is also post APA. Like Kevin mentioned, lots can go wrong after the APAs.

  15. #15
    Karen37a
    Guest
    Quote Originally Posted by J.Celifarco View Post
    maybe I am missing something but if bfs owed grp why would grp sue the company that owns them
    And that is how Elizabeth became "Karen" getting away from everyone's bsh* t
    Last edited by Karen37a; 07-12-2018 at 04:22 PM.

  16. #16
    Karen37a
    Guest
    Quote Originally Posted by kevinhenry0527 View Post
    I don't know the story John, but I have seen other cases where a seller sues a buyer post closing because something that was promised in a deal was not delivered.

    I can promise you thats not the story. So while you all had your little laughs...id never hire someone who was in the pokey, you had no idea that some ethical brokers ran for it...

    Now you will never know the story



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