[WestCoastFunding]

Who did Florida payoff to avoid this hurricane?

[Karen37a]

I already have a corporation in another state and ready to move if need be.I was never pro regulation.

Go vote it isn't passed yet...get people in cailf to say no...i posted the number

[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

[WestCoastFunding]

Go vote it isn't passed yet...get people in cailf to say no...i posted the number

Lenders and funders will have to be super-transparent about the cost-of-borrowing. So what? If a business owner needs money and conventional options aren’t available, they’re gonna turn to subprime financing. They’re going to take the money. They always do.

Good salespeople shouldn’t care about transparency in pricing.

[Karen37a]

Lenders and funders will have to be super-transparent about the cost-of-borrowing. So what? If a business owner needs money and conventional options aren’t available, they’re gonna turn to subprime financing. They’re going to take the money. They always do.

Good salespeople shouldn’t care about transparency in pricing.

I dont want APR on Financing on Factoring its a falsehood and a lie

[Kevin Henry-Seacoast]

I dont want APR on Financing on Factoring its a falsehood and a lie

I have no problem being transparent with pricing.

[Karen37a]

I have no problem being transparent with pricing.

Apr on factoring isnt being transparent its a false metric...they are changing the product and setting people up for liability

And it would never make it thru the supreme court if challanged

[WestCoastFunding]

I have no problem being transparent with pricing.

If you’re a good salesperson that shouldn’t be a hurdle. You should be able to make the logical case for the cost of borrowing. More importantly, you should be able to explain to them that’s their only/best option.

[Karen37a]

If you’re a good salesperson that shouldn’t be a hurdle. You should be able to make the logical case for the cost of borrowing. More importantly, you should be able to explain to them that’s their only/best option.

I do not lie like some people. Its not an Apr

[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

[WestCoastFunding]

How the f are you going to have me on a phone call telling someone

Adapt, Karen.

[Kevin Henry-Seacoast]

Apr on factoring isnt being transparent its a false metric...they are changing the product and setting people up for liability

And it would never make it thru the supreme court if challanged

Karen-Who said anything about APR?

[Karen37a]

Adapt, Karen.

YOu cant quote and APR you wil be sued its usury and they can default instantly

[Karen37a]

Karen-Who said anything about APR?

Thats what they are passing ...disclosures to say factoring have an Apr

[Karen37a]

(a) As an alternative to the disclosures required in subdivision (b) of Section 22802, a provider who offers commercial financing that is factoring or asset-based lending and that offers the recipient an agreement that describes the general terms and conditions of the commercial financing transaction that will occur under the agreement, may provide the following disclosures as an example of a transaction that could occur under the general agreement for a given amount of accounts receivables:
(1) An amount financed.
(2) The total dollar cost.
(3) The term or estimated term.
(4) The method, frequency, and amount of payments.
(5) A description of prepayment policies.
(6) The total cost of the financing expressed as an annualized rate.
(b) This section shall remain in effect only until January 1, 2024, and as of that date is repealed.

[Kevin Henry-Seacoast]

YOu cant quote and APR you wil be sued its usury and they can default instantly

You CAN if you are quoting pricing that is not usury....

[Karen37a]

You CAN if you are quoting pricing that is not usury....

Not on an advance..it isnt a loan, therefore, it isnt an APR...false metric

its ok smart lawyers will be nailing people

[WestCoastFunding]

Thats what they are passing ...disclosures to say factoring have an Apr

NO.

“Estimated annualized cost of capital” is NOT an “annual percentage rate”.

[Kevin Henry-Seacoast]

(a) As an alternative to the disclosures required in subdivision (b) of Section 22802, a provider who offers commercial financing that is factoring or asset-based lending and that offers the recipient an agreement that describes the general terms and conditions of the commercial financing transaction that will occur under the agreement, may provide the following disclosures as an example of a transaction that could occur under the general agreement for a given amount of accounts receivables:
(1) An amount financed.
(2) The total dollar cost.
(3) The term or estimated term.
(4) The method, frequency, and amount of payments.
(5) A description of prepayment policies.
(6) The total cost of the financing expressed as an annualized rate.
(b) This section shall remain in effect only until January 1, 2024, and as of that date is repealed.

OK-Section (6) If a 10Mil company took $1Mil in advances over the course of a year and the cost of the money was $400K. The cost of the capital was 4% of gross revenue on an annualized basis.

[Karen37a]

NO.

“Estimated annualized cost of capital” is NOT an “annual percentage rate”.

they didnt approve that 100% ...they might use the apr

They changed their mind ...they backdoored the people pushing for the bill


If you stopped thinking you were so smart and stfu and listened to someone smarter than you, you would realize why I am fighting it off instead of saying Karen has a dui

[Kevin Henry-Seacoast]

Not on an advance..it isnt a loan, therefore, it isnt an APR...false metric

its ok smart lawyers will be nailing people

I don't do advances.....

[Karen37a]

I don't do advances.....

But WE do

And thats why some people are being led to their death and need to listen to me

And i like you Kevin but that's also why i was saying " he is a banker"

[WestCoastFunding]

But WE do

And thats why some people are being led to their death and need to listen to me

And i like you Kevin but that's also why i was saying " he is a banker"

“The bill would, until January 1, 2024, additionally require a provider to disclose the total cost of financing expressed as an annualized rate. The bill would authorize a provider who offers financing that is factoring or asset-based lending to, in lieu of those disclosure requirements, provide an alternative disclosure that meets specified requirements, including that the disclosure may be based on an example of a transaction that could occur under the general agreement for a given amount of accounts receivables.”

https://leginfo.legislature.ca.gov/f...01720180SB1235

Why would a cash advance company have a problem meeting that requirement?

[mcaguru]

FYI
Management over @ greenbox (from what i hear -- and i only take in info from reliable sources) are top top notch folks ~!

[Karen37a]

“The bill would, until January 1, 2024, additionally require a provider to disclose the total cost of financing expressed as an annualized rate. The bill would authorize a provider who offers financing that is factoring or asset-based lending to, in lieu of those disclosure requirements, provide an alternative disclosure that meets specified requirements, including that the disclosure may be based on an example of a transaction that could occur under the general agreement for a given amount of accounts receivables.”

https://leginfo.legislature.ca.gov/f...01720180SB1235

Why would a cash advance company have a problem meeting that requirement?

It depends on what metric they use for annualized rate....they want to use APR and it isn't an apr...apr is with a loan, not an advance so you are confusing people and turning it into a loan giving me more liability

So until i train those people...SAY NO. block it