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10-15-2018, 12:37 PM #1
First California Now NJ
This actually looks worse then what California did.
https://debanked.com/2018/10/new-jer...9634876&_p_c=1John 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
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10-15-2018, 12:42 PM #2
- Join Date
- Jun 2018
- Posts
- 462
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10-15-2018, 12:46 PM #3John 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
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10-15-2018, 12:47 PM #4Karen37aGuest
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10-15-2018, 01:31 PM #5
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10-15-2018, 05:46 PM #6
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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10-15-2018, 07:03 PM #7Karen37aGuest
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10-15-2018, 07:40 PM #8
- Join Date
- Oct 2016
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- 4,318
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10-15-2018, 12:45 PM #9Karen37aGuest
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10-15-2018, 12:51 PM #10
Actually they did get the APR removed from the bill and made it so that the DBO would decide.. In the original bill it had to be disclosed. This bill is worse then that because as of this draft everything needs to be disclosed 100%. We cant keep our heads in the sand anymore, regulation is coming whether we like it or not so everyone better get ready for it
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
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10-15-2018, 12:52 PM #11Karen37aGuest
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10-15-2018, 12:58 PM #12Karen37aGuest
When this happens only Hedge funds who can structure these deals a different way will survive
one of them will be me. 30 years later...ill be one of the last survivors
Gl
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10-15-2018, 01:18 PM #13
- Join Date
- Feb 2018
- Posts
- 1,349
Well, this business went 18 years or so without regulation. Once any industry reaches a certain scale, the government gets involved. Co's going IPO and partnering with banks didn't help keep things under the radar either....Im curious if the first position funder's will redo their schedule A's in certain states that require full disclosure now to keep APRs lower.
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10-15-2018, 01:28 PM #14Karen37aGuest
The real problem is the 1st positions who give 1.25 (as an example) on the first mca ...lets just say 100k to pay back 125k
50k Renewal ...plus 50k = 100k = 125k
Thats means you paid 25k to get 50k which = 1.50 50%... not 20%
Which is what Carl was saying needs to be disclosed in the other posts to meLast edited by Karen37a; 10-15-2018 at 01:31 PM.
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10-15-2018, 01:31 PM #15
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
I gave this a quick read. Correct me if I am incorrect, but the disclosure being discussed is for business LOANS less than $100,000.
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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10-15-2018, 01:35 PM #16Karen37aGuest
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10-15-2018, 01:38 PM #17
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10-15-2018, 01:57 PM #18
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10-15-2018, 01:58 PM #19
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10-15-2018, 02:04 PM #20
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
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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10-15-2018, 01:48 PM #21Karen37aGuest
The worst part of this is that people haven't realized yet ... the "money source" also goes under increased regulation and scrutiny.
Everyone is regulated and looked at closer
Even the banks ..that's how credit lines get pulled
Bank lines are pulled first...hedge fund money last or never ( which Is why I conveniently aligned with certain funders over 2 years ago...especially those I can bring money into. So me doing or not doing busienss with people was never personal..i went where my future money could go)
or it will say " we do not lend to calif or NJ" ...etcLast edited by Karen37a; 10-15-2018 at 01:57 PM.
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10-15-2018, 02:04 PM #22
Isn't it interesting that regulations intended to protect the people end up hurting the people. Perspectives are not realized
You either win or you learn. The only failure is in quitting.
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10-15-2018, 02:08 PM #23
They just amended the APR requirement out of the bill.
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10-15-2018, 02:10 PM #24Karen37aGuest
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10-15-2018, 02:18 PM #25
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