[RickyR3712]

Elevate and breakout sent out emails that they will monitor the hurricane to stop payments if merchants need a break . Greenbox email was the complete opposite see below .
Greenbox Capital will continue to process deals of merchants who conduct business in the path of Hurricane Florence. However, when the deal reaches final review, it will be placed on hold until the storm passes. At that time, our Underwriting team will confirm that the business operations haven’t been affected by the storm and fund accordingly. This may require an additional step in our process to confirm that the business has returned to normal. This may include, but is not limited to, bank verification, merchant interview etc.

Greenbox as someone who is based out of Florida you should not ruin your company image by making such a I do not give a f...k attitude towards businesses.
Learn from people like Heather francis and Carl fairbank on how to have a heart.

[BROKER TIME]

Elevate and breakout sent out emails that they will monitor the hurricane to stop payments if merchants need a break . Greenbox email was the complete opposite see below .
Greenbox Capital will continue to process deals of merchants who conduct business in the path of Hurricane Florence. However, when the deal reaches final review, it will be placed on hold until the storm passes. At that time, our Underwriting team will confirm that the business operations haven’t been affected by the storm and fund accordingly. This may require an additional step in our process to confirm that the business has returned to normal. This may include, but is not limited to, bank verification, merchant interview etc.

Greenbox as someone who is based out of Florida you should not ruin your company image by making such a I do not give a f...k attitude towards businesses.
Learn from people like Heather francis and Carl fairbank on how to have a heart.

I am not pro or against the green box however based on the email and I don’t know if you’re quoting Word for Word but they are not mentioning about existing merchants they are saying about merchants that they are potentially going to fund
and I do not blame them one bit because imagine if you were going to give a non-secured loan to a business that may not be operating for the next two weeks
you would not be so quick to give out your

[BROKER TIME]

funds

[RickyR3712]

It is a copy and paste and it is a matter of reaction and being a decent human being.When you see a car smoking up outside is your first reaction after calling 911 is to make sure no one is inside or to jump in your car and move your money out of harms way.
However you want to give out your money is up to you,however you do not take people scared about a storm coming and kick them while they are down by saying that is why you will not fund them.

[Nunya]

It is a copy and paste and it is a matter of reaction and being a decent human being.When you see a car smoking up outside is your first reaction after calling 911 is to make sure no one is inside or to jump in your car and move your money out of harms way.
However you want to give out your money is up to you,however you do not take people scared about a storm coming and kick them while they are down by saying that is why you will not fund them.

Going to have to disagree with you on this. And no, I don't work for or do business with GreenBox.

Why should they/would they put their unsecured money at risk in the face of a storm. Your analogy is off here. They're not kicking anyone while they're down. Greenbox has no obligation to those merchants, they're not a charity.

[BROKER TIME]

Going to have to disagree with you on this. And no, I don't work for or do business with GreenBox.

Why should they/would they put their unsecured money at risk in the face of a storm. Your analogy is off here. They're not kicking anyone while they're down. Greenbox has no obligation to those merchants, they're not a charity.

agreed

will have to assume he had a deal get killed because of it

[RickyR3712]

agreed

will have to assume he had a deal get killed because of it

Nope.Had a merchant last storm that they filed coj when he missed payments and grabbed all his money to put him out of business.

[Karen37a]

Nope.Had a merchant last storm that they filed coj when he missed payments and grabbed all his money to put him out of business.

Ricky id never fund into a hurricane anyone who does is irresponsible or it isn't their money

I would also think the location of the business matters...on the coast or far far away on a border

The hurricane slowed down I think

btw how are you doing in Calif Ricky now that these bills passed

[RickyR3712]

Also our industry is already looked at in a bad light.We do not need to see the front page of the post stating that greenbox turns down business loan after merchant signs a confession of judgement for chance of a storm.

[BROKER TIME]

doubt it will make page 6 but again i cant blame them for letting their isos know
besides who funds with them anyways

in any case lets pray for the safety of everyone who is in the storm areas

have a good night

[MX211]

Elevate and breakout sent out emails that they will monitor the hurricane to stop payments if merchants need a break . Greenbox email was the complete opposite see below .
Greenbox Capital will continue to process deals of merchants who conduct business in the path of Hurricane Florence. However, when the deal reaches final review, it will be placed on hold until the storm passes. At that time, our Underwriting team will confirm that the business operations haven’t been affected by the storm and fund accordingly. This may require an additional step in our process to confirm that the business has returned to normal. This may include, but is not limited to, bank verification, merchant interview etc.

Greenbox as someone who is based out of Florida you should not ruin your company image by making such a I do not give a f...k attitude towards businesses.
Learn from people like Heather francis and Carl fairbank on how to have a heart.

GREENBOX IS A F#$KN JOKE so is the imbecile driving the boat as ceo (Jordan Fein) does his best to tell his ISO's to f#$k off almost as often as Gbox tells the merchants we don't give a Fu@k

[RickyR3712]

GREENBOX IS A F#$KN JOKE so is the imbecile driving the boat as ceo (Jordan Fein) does his best to tell his ISO's to f#$k off almost as often as Gbox tells the merchants we don't give a Fu@k

There is a reason their iso reps only last a couple of months.

[jdlaw]

I'm seeing apples and oranges here, unless I'm missing something.
Seems Elevate and Breakout announced that on currently open fundings
in payback, that they will suspend payments if merchants need a break in
affected areas. Nice of them. Especially if merchants have to close down
anyway and there would be no revenue to pull from.

Greenbox is simply saying they will process "new" requests for funding, however
they will hold up the actual funding of the new deal until business returns to normal
after the storm passes.

How does that make them bad? I would assume until business returns to normal,
Breakout and Elevate are probably not funding any new deals either.

[WhoisKingsley]

I'm seeing apples and oranges here, unless I'm missing something.
Seems Elevate and Breakout announced that on currently open fundings
in payback, that they will suspend payments if merchants need a break in
affected areas. Nice of them. Especially if merchants have to close down
anyway and there would be no revenue to pull from.

Greenbox is simply saying they will process "new" requests for funding, however
they will hold up the actual funding of the new deal until business returns to normal
after the storm passes.

How does that make them bad? I would assume until business returns to normal,
Breakout and Elevate are probably not funding any new deals either.

Agree in black and white underwriting terms - YES.

Breakout and Elevate - Love that they sent this out to their brokers and merchants. The service in that email MAYBE reached someone that didn't realize that the payment would still be taken out during the time. Made them feel good that they know the unexpected circumstances they are facing and we made things a bit easier on you in life? Take note- you can apply this to ANY situation.

BUT question - in the case of a hurricane and a Business needed capital before to purchase EMERGENCY supplies to ensure the safety/security of the business location, inventory, etc. shouldn't that be a consideration? I am NOT trying to make any natural disaster or otherwise a "lead" source so don't be a jerk and start calling people but in the case where a Business sends an application?

Did you know that the first to get electricity after a hurricane are businesses like restaurants and stable locations with ground wiring that can get up and moving quick to serve the thousands of people that could be affected? I am just saying this because millions of people in 3 states* that are going to be relying on those businesses "we" as a space keep up and running being an optimist about your career choice here

As in underwriting and risk for the investor or syndicate - I guess it depends on where your funds come from and of course a hurricane is a huge risk... there is no emotion in underwriting.... this is a torn subject like politics and religion.

Im going to stop here. Karen take it away.

[Karen37a]

Agree in black and white underwriting terms - YES.

Breakout and Elevate - Love that they sent this out to their brokers and merchants. The service in that email MAYBE reached someone that didn't realize that the payment would still be taken out during the time.

BUT question - in the case of a hurricane and a Business needed capital before to purchase EMERGENCY supplies to ensure the safety/security of the business location, inventory, etc. shouldn't that be a consideration? I am NOT trying to make any natural disaster or otherwise a "lead" source so don't be a jerk and start calling people but in the case where a Business sends an application?

Did you know that the first to get electricity after a hurricane are businesses like restaurants and stable locations with ground wiring that can get up and moving quick to serve the thousands of people that could be affected? I am just saying this because millions of people in 3 states* that are going to be relying on those businesses "we" as a space keep up and running being an optimist about your career choice here

As in underwriting and risk for the investor or syndicate - I guess it depends on where your funds come from and of course a hurricane is a huge risk... there is no emotion in underwriting.... this is a torn subject like politics and religion.

Im going to stop here. Karen take it away.

lol
I stayed during the hurrican last year...i think you did too ...it was an adventue and we had no damage no flooding , my lights never went out( half the peoples did though...i was making ice for people for a week)...it was scary though

on my credit is says "danger flood zone" sometimes... i have to call them up and say"take that down I am not in puerto rico" ...some still have it up

D and B or experien business . i dont recall at this point


add ...to be exact ...it says "FRAUD FLOOD ZONE" and they beter get it off ...another fight urg

[WhoisKingsley]

lol
I stayed during the hurrican last year...i think you did too ...it was an adventue and we had no damage no flooding , my lights never went out( half the peoples did though...i was making ice for people for a week)...it was scary though

on my credit is says "danger flood zone" sometimes... i have to call them up and say"take that down I am not in puerto rico" ...some still have it up

D and B or experien business . i dont recall at this point

I did too. Emptied my place for nothing as I didn't lose electric or anything. Houses did and the local businesses that prepped and spect the $ on supplies were good and opened next day thanks to FPL. By the way- There are thousands on the way up there as we speak as first liners so those businesses in certain locations will get an influx of business.

I think applications for UW for the locations should be accepted and approved by the need for capital and how their business will be conducted before, during, and after the storm. Not just put a blanked on that many states.

I wonder what the influx of submissions are in the areas that will be affected by something like that...

[Jason Sterling]

Wow, you clearly have no understanding of underwriting/risk. Why would they fund a business that is in the path of a catastrophic storm?? Breakout is suspending ACH's for existing customers that are in the affected areas. We do the same when there is an act of god. We also have put a few deals on hold until the storm passes. Next time try to take a few minutes and use common sense before putting a lender on blast.

[RickyR3712]

Wow, you clearly have no understanding of underwriting/risk. Why would they fund a business that is in the path of a catastrophic storm?? Breakout is suspending ACH's for existing customers that are in the affected areas. We do the same when there is an act of god. We also have put a few deals on hold until the storm passes. Next time try to take a few minutes and use common sense before putting a lender on blast.

I never said they do not have common sense, i said they are heartless.I agree that you have underwriting criteria and no one wants to lose money.Was sterling first reaction to send out an email like that or to take care of your existing customers?

[Yankeeman07]

https://debanked.com/2018/09/in-anti...ds-ach-debits/

[jdlaw]

"BUT question - in the case of a hurricane and a Business needed capital before to purchase EMERGENCY supplies to ensure the safety/security of the business location, inventory, etc. shouldn't that be a consideration?"

In a word: No.

Anything could happen to that particular business. Will the business survive to repay? Will they have the same cash flow as before to support the draws?
Will they just take the cash infusion and once they realize the damage, just not reopen? Etc.

The underwriter's responsibility is to the funder not the merchant. Though this wouldn't even be an option for an underwriter anyway.

Should there be a charitable alternative set up prior to natural disasters? Maybe so. But these are business people, not consumers.
In this case, they have had adequate time to prep, plan and protect their business assets. If they have failed to do so, or are unable
to do so, all the more reason not to fund in the face of an impending catastrophe.

[Karen37a]

"BUT question - in the case of a hurricane and a Business needed capital before to purchase EMERGENCY supplies to ensure the safety/security of the business location, inventory, etc. shouldn't that be a consideration?"

In a word: No.

Anything could happen to that particular business. Will the business survive to repay? Will they have the same cash flow as before to support the draws?
Will they just take the cash infusion and once they realize the damage, just not reopen? Etc.

The underwriter's responsibility is to the funder not the merchant. Though this wouldn't even be an option for an underwriter anyway.

Should there be a charitable alternative set up prior to natural disasters? Maybe so. But these are business people, not consumers.
In this case, they have had adequate time to prep, plan and protect their business assets. If they have failed to do so, or are unable
to do so, all the more reason not to fund in the face of an impending catastrophe.

this

Underwriters have fiduciary reponsibility to the lender and the money


If you take someones money as an investment ( venture capital) you have to give it back or jail sometimes which means making responsible funding decisions

[ryan $]

Someone was hugged too much or not enough as a child

[WestCoastFunding]

Who did Florida payoff to avoid this hurricane?

[Karen37a]

Who did Florida payoff to avoid this hurricane?

We are not done yet there is Hurrican Helene, Isaac, Joyce, Olivia, out there heading this way

After being in Florida awhile you are like ...hurricane level 3 ...that's nothing

And I wouldn't have stayed in the last one but it was hitting the whole state, so where do you run ,,i had just bought a new bmw and wanted to save the car lol

[Karen37a]

How the f are you going to have me on a phone call telling someone APR...its a lie and I know too much about finance to say that stupid shiate

I DO NOT LIE...its not ok to say APR...compliance violation


If we say Apr then its a loan...and now it isnt an Advance ...period the end

do not make yourselves out to be the tranparant ones...saying APR is a LIE

And if you sign it smarty pants ...criminal usury

NOw you want me to participate in that crap