[Karen37a]

Yes out of the NJ bill.


There is still an annualized interest rate requirement in it. The bill is advancing. It made it through the committee. It has momentum.

I still do not see how turning advances into loans...that have criminal usury caps on them helps anyone

Double dipping even from A paper will be banished which means more risk less profits

If there is a reason that I am not seeing..maybe you can explain it to me.

[J.Celifarco]

I still do not see how turning advances into loans...that have criminal usury caps on them helps anyone

Double dipping even from A paper will be banished which means more risk less profits

If there is a reason that I am not seeing..maybe you can explain it to me.

it isnt a good thing for us as an industry, this is going to screw us but this is better then if they had the APR language still in there.. I dont think anyone is saying this is good, just saying it is less bad then the alternative

[J.Celifarco]

that is a big win for us

[fundingsmbs]

change makes people nervous but if the spirit of all this is to have a more transparent industry, it's a start. self regulation has been very very tough to get this point across.

[Karen37a]

change makes people nervous but if the spirit of all this is to have a more transparent industry, it's a start. self regulation has been very very tough to get this point across.

Change doesnt make me nervous because I have been changing with the times and morphing and making a lot of money since the 80s

Different products...all different marketing ...mastering them

its regulations that are not vetted properly that cause more harm than good that makes me nervous

[WestCoastFunding]

On another note, SMH at Bizfund (formerly New Era) for blasting out an email, CCing a million people rather than BCC.

[jdlaw]

Doesn't make sense those that proudly claim they are 99%"s. It's like I'm a loser celebrate me....Huh

[Karen37a]

Doesn't make sense those that proudly claim they are 99%"s. It's like I'm a loser celebrate me....Huh

99% of the 10 who were bugging me

[J.Celifarco]

99% of the 10 who were bugging me

I have always been for federal regulation because I was scared of state by state laws that will require different contracts and different paperwork and disclosures depending on what stae it was in.. With a federal law would have been one set of rules across the board we would have adjusted and made it work.. State by state will be a slow bleed and a giant pain in the ass

[Karen37a]

I have always been for federal regulation because I was scared of state by state laws that will require different contracts and different paperwork and disclosures depending on what stae it was in.. With a federal law would have been one set of rules across the board we would have adjusted and made it work.. State by state will be a slow bleed and a giant pain in the ass

it still isnt good

There is a way around this...they really cant turn a purchase of recievables into a loan

its like turning a chicken into a turkey

I think it will eventually be struck down

Like this took 3-5 years to KILL

Dol is officially dead
https://www.investmentnews.com/artic...y-rule-is-dead

Trump rolls back Doody Frankenstien

https://www.cnbc.com/2018/05/24/trum...gulations.html

[J.Celifarco]

they are not calling a purchases of receivables a loan they are just saying MCA will fall under this law

[Kevin Henry-Seacoast]

I will say this again....regulation in any part of capital markets is inevitable. They are put in place to protect the customer first, the stability of the markets, and then the stability of the market participants/institutions. Institutions are far better off with a federal regulation as it is easier to manage then regulations for each different state. Brokers and referral partner are better off with federal regulation as state regulation management comes with a higher cost to manage. If institutions are forced to manage regulations from each different state, the cost of managing the regulations will cut margins...thus forcing them to cut costs internally and to referral partners.

[Karen37a]

I will say this again....regulation in any part of capital markets is inevitable. They are put in place to protect the customer first, the stability of the markets, and then the stability of the market participants/institutions. Institutions are far better off with a federal regulation as it is easier to manage then regulations for each different state. Brokers and referral partner are better off with federal regulation as state regulation management comes with a higher cost to manage. If institutions are forced to manage regulations from each different state, the cost of managing the regulations will cut margins...thus forcing them to cut costs internally and to referral partners.

These are not normal customers . They are shrewd business people who will cut your throat

They are merchants sometimes with bad credit or cash flow issues with a short shelf life looking for money to not pay it back

We need protection from them at times

[Kevin Henry-Seacoast]

These are not normal customers . They are shrewd business people who will cut your throat

They are merchants sometimes with bad credit or cash flow issues with a short shelf life looking for money to not pay it back

We need protection from them at times

Not going to happen. Your defense is to NOT do business with them. Know your customer, know your referral source, and know your capital source.....

[Karen37a]

Not going to happen. Your defense is to NOT do business with them. Know your customer, know your referral source, and know your capital source.....

Its called American Business owners and I am my own referral source at times

I saw it LIVE...my own live samples...no one can dispute it...i lived it....thats why people have to lead from the front...do it and you can teach and see for yourself

They make these bad mca brokers look good sometimes


So the point is Calif doesn't have to protect them like they are a turtle...they will use that to their advantage to con more

its non negotiable it will happen

[Kevin Henry-Seacoast]

Its called American Business owners and I am my own referral source at times

I saw it LIVE...my own live samples...no one can dispute it...i lived it....thats why people have to lead from the front...do it and you can teach and see for yourself

They make these bad mca brokers look good sometimes


So the point is Calif doesn't have to protect them like they are a turtle...they will use that to their advantage to con more

its non negotiable it will happen

Karen-The regulations are not written to protect bad customers. They are written to protect all customers. If you choose to do business with anyone, anyhow, anyway in an attempt to make money, you will get burned. Hence the reason to know your customer, know your referral source, and know your source of capital. Relationships always end the way they start.

[Karen37a]

https://www.elastic.com/?gcid=goobre...E&gclsrc=aw.ds

Look at this.. A bank with cash advances charging 50%..

"flexible credit line"

[Karen37a]

Bad brokers are 1/8th of what the bad merchants are...American Business

They are going UNDER the question is when and whos throat they are going to cut on the way out ..it is not going to be mine or my direct funders


80% of entrepreneurs starting a business fail within the first 18 months. (Forbes)
50% of startups fail after operating for four years. (Statistic Brain)
66% of small businesses will fail within 10 years. (Tutsplus)
50% of small businesses fail after five years. (Small Business Trends)
3 out of 10 new companies “fail to survive” for more than 24 months. (Wasp Barcode)
Only 33% percent of startups reach their 10 year anniversary. (Credit Donkey)
Only 1 out of 5 new businesses survive past their first year of operation. (USA Today)

[Karen37a]

These people take money when its one of those ...take the money for payroll or they are out of business ( and they still may go out of business it's a blind educated guess )

THEN when its 3 months down the road they are saying " i paid too much for it"

tough ****

You cant lend or fund into a very risky pool, people go under and then the ones who make it say...hey that cost too much

The rate has to be high enough to cover the defaults, operation expenses etc etc

And I can promise you id never put 30 million on the line( unsecured ) to get 50k back after all is said and done

You are chasing investors away

[J.Celifarco]

These people take money when its one of those ...take the money for payroll or they are out of business ( and they still may go out of business it's a blind educated guess )

THEN when its 3 months down the road they are saying " i paid too much for it"

tough ****

You cant lend or fund into a very risky pool, people go under and then the ones who make it say...hey that cost too much

again this has what to do with regulation.. They aren't regulating us because a % of our customers are ****bags. They are regulating us because we have gotten to big to stay in the shadows and when we had an opportunity to self regulate so that the states didnt step in we did nothing. Now we have to deal with what is being done and do everything in our power to mitigate the damage that is done

[Karen37a]

again this has what to do with regulation.. They aren't regulating us because a % of our customers are ****bags. They are regulating us because we have gotten to big to stay in the shadows and when we had an opportunity to self regulate so that the states didnt step in we did nothing. Now we have to deal with what is being done and do everything in our power to mitigate the damage that is done

kevin made a comment and I was answering him



and what is had to do with regulation is

if the rate goes DOWN Funders are going to fold...add in additional compliance costs and lawyers ( i said this 2000 times on these boards already)

regulators are lawyers coming for you with the full power of the State and their deep pockets...you will never survive

for anyone to have wished this on us was crazy

if you do not understand this...that is not my concern( because you do not want to, you want to argue) . usually people have to climb up a ladder to see the view from the top

nothing wrong with it...ive just seen alot more

[Kevin Henry-Seacoast]

kevin made a comment and I was answering him



and what is had to do with regulation is

if the rate goes DOWN Funders are going to fold...add in additional compliance costs and lawyers ( i said this 2000 times on these boards already)

regulators are lawyers coming for you with the full power of the State and their deep pockets...you will never survive

for anyone to have wished this on us was crazy

if you do not understand this...that is not my concern( because you do not want to, you want to argue) . usually people have to climb up a ladder to see the view from the top

nothing wrong with it...ive just seen alot more

How do you know you have seen more than anyone else on this board? I know you claim you have on a regular basis.

I never said that rates are going down because of regulation in this tread. I said costs will go up if this is done on a state level and not federal. The cost will affect margins and in turn institutions will have to cut costs.

[Karen37a]

How do you know you have seen more than anyone else on this board? I know you claim you have on a regular basis.

I never said that rates are going down because of regulation in this tread. I said costs will go up if this is done on a state level and not federal. The cost will affect margins and in turn institutions will have to cut costs.

I was taking to HIM ( John ) not you on that comment. Stop tag teaming the conversations as usual

I said that Rates go down they are Capped ...usuary...and costs go up
period the end

you usually have 4 more people jump in at this point

Address what I posted to you or nothing at all

hese people take money when its one of those ...take the money for payroll or they are out of business ( and they still may go out of business it's a blind educated guess )

THEN when its 3 months down the road they are saying " i paid too much for it"

tough ****

You cant lend or fund into a very risky pool, people go under and then the ones who make it say...hey that cost too much

The rate has to be high enough to cover the defaults, operation expenses etc etc

And I can promise you id never put 30 million on the line( unsecured ) to get 50k back after all is said and done

You are chasing investors away

West coast jump in "karen is talking to herself"


** I am off ...Advanced Funders know what I said is true and Venture Capital and hedge funds.. ask them

[HDF]

^ Just amazing that you can type that at this point.

[WestCoastFunding]

Hurricane Karen is now a Category 5