Results 1 to 25 of 80
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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, 12:45 PM #3Karen37aGuest
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10-15-2018, 12:46 PM #4John 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 #5Karen37aGuest
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10-15-2018, 12:51 PM #6
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 #7Karen37aGuest
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10-15-2018, 12:58 PM #8Karen37aGuest
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 #9
- 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 #10Karen37aGuest
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 #11
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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, 01:31 PM #12
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10-15-2018, 01:35 PM #13Karen37aGuest
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10-15-2018, 01:38 PM #14
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10-15-2018, 01:48 PM #15Karen37aGuest
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, 01:57 PM #16
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10-15-2018, 01:58 PM #17
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10-15-2018, 02:04 PM #18
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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, 02:04 PM #19
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, 02:06 PM #20
it doesnt help it means that our products would fall under this law and be required to meet the standards set forth in it.. Since an MCA by definition cant have an APR this bill would do what the original California bill would have essentially making MCA's illegal in the state of NJ
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, 02:08 PM #21
They just amended the APR requirement out of the bill.
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10-15-2018, 02:10 PM #22Karen37aGuest
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10-15-2018, 02:11 PM #23
that is a big win for us
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, 02:11 PM #24
- Join Date
- Feb 2018
- Posts
- 1,349
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.
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10-15-2018, 02:13 PM #25Karen37aGuest
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
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