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09-24-2018, 04:49 PM #1
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Who Funds Negative Background Merchants?
Who Funds Negative Background Merchants?
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09-24-2018, 04:53 PM #2
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By negative do you mean not paying child support? Or robbing a bank?
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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09-24-2018, 04:56 PM #3
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Depends on the report. We have financed companies with BKs in the background and tax issues.
Frauds, Felonies, Juggling Kittens, and eating baby seal sandwiches is a non-starter for us.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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09-24-2018, 05:13 PM #4Karen37aGuest
It depends on the severity of the charges, type of charges ..misdemeanour vs felony..adjudication on the charges, how many there are, time frame, how long ago and how old he was
somewhere between 5-10 years if they lived a completely clean lifestyle they eventually get forgiven
The same applies for regulation licencing financial services so the top level people with big teams will know because they are used to going thru this when they got people on their team licenced and associated tor their firm... so if it was minor or past 5 or 10 years they might help
or be prepared for one of those take it or leave it 1.60 offers
Financial Fraud Felony is almost always a no-no unless its a bounced check and time passed
If the person is a big wig at this point in life and this is harming them irreparably tell him to seek out counsel and a writ of certiorari, its expensive and time-consuming or sealing or expungement...laws change per stateLast edited by Karen37a; 09-24-2018 at 05:30 PM.
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09-24-2018, 06:05 PM #5
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Thx guys
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09-24-2018, 10:25 PM #6
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It really depends on the crime. If they went to jail for a drug arrest at 18 its one thing, but if they went to jail for murder then it’s another. There will be follow up questions about the crime. I’ve been on the merchant interview calls for these. Was the murder premeditated? Was an old lady killed? Did the old lady deserve it? On and on.
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09-25-2018, 12:11 PM #7
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it's an interesting question. Some funder's decline for past due child support while other's will fund that merchant. It's up to each funder on their internal policies on things like that. They have the right to reject any apps
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09-25-2018, 12:24 PM #8
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Genuinely curious here. Is there a circumstance where ending another person's life is okay? Because my answer is no. People can pay their debt to society and change as a person via rehabilitation, but I can't imagine a circumstance where the crime itself can be rationalized. And I'm fascinated by any person that thinks they are in a position to judge, as a third party, if murdering someone was okay.
"Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
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09-25-2018, 12:25 PM #9Karen37aGuest
1st thing west coast is funny
In regards to child support. I questioned this. I thought...all of a sudden some people have some morals; then I figured out that some states like Florida if they pull you over and ask you for your driver's licence and you own child support you are arrested on the spot. Not good if a self-employed business person gpoes to jail for a few days or weeks....loss of revenue
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09-25-2018, 12:35 PM #10
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People who dont pay child support are the scum of the earth. If you cant provide for your own blood, your defiantly not paying back this 1.40 cash advance. Child molesters and Deadbeats arent getting funded anywhere.
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09-25-2018, 12:37 PM #11Karen37aGuest
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09-25-2018, 12:43 PM #12Karen37aGuest
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09-25-2018, 01:14 PM #13
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Past due Child support files can get funded. But it has to recency, total amount, and debtor current locale/child support jurisdiction. Because in most states, if they find them the state eventually has the Sherriff pick them up-
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09-25-2018, 02:21 PM #14
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i agree with above, if they are evading paying for their kids, they aren't going to payback an mca.
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09-25-2018, 02:23 PM #15
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I don’t really judge, I just rely on underwriting to do its thing. Obviously human underwriting looks at murders differently than the algorithms. But before funding I always have a heart-to-heart with the merchant to make sure they stay on the right course. Just the other i was telling a merchant, “look, you’ve killed before. I get it. I’ve killed, too. But during the course of the contract you really can’t murder anyone, let alone assault. It’s in the contract!”
You really need to make sure these agreements are short term to mitigate risk, tho.
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09-25-2018, 02:23 PM #16Karen37aGuest
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