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10-16-2018, 12:02 PM #1
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Delay After Funding
So I see a deal where the merchant got funded on 9/12, but only started pulling on 9/25. To me it looks really suspicious, can anyone thing of a legitimate reason this would happen?
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10-16-2018, 12:25 PM #2
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a lot of lenders now have bi-weekly payments. when was the payment pulled after the 9/25 ach?
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10-16-2018, 12:26 PM #3
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Started pulling daily, 25th, 26, 27th and so on.
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10-16-2018, 12:44 PM #4
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hmm well there goes that idea. ask merchant what happened. Could be some kind of agreement they had prior to funding. I funded a deal once where merchant was on vacation they funded day he left but agreed not to start pulling until week later when he got back to the business.
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10-16-2018, 12:49 PM #5
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Maybe the bank temporarily stopped the payments because they found them suspicious?
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10-16-2018, 02:11 PM #6
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Some funders have a grace period - ive that with Swift / Paypall a couple of times - They fund and don't start collecting until a week or two later.
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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10-16-2018, 03:53 PM #7
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Ive gotten a grace period before on deals. doesnt have to be swift.
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10-17-2018, 11:49 AM #8
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Most likely was set up on a biweekly payment plan
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10-17-2018, 12:52 PM #9
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some funders just **** up, i worked at a fairly large, well known place for a bit and their accounting dept was terrible. sometimes they enter the wrong voided check and bounce payments for two weeks before mgmt found out
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10-17-2018, 01:28 PM #10
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Who Does bi weekly?
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10-17-2018, 01:32 PM #11
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when it looks like a duck and sounds like a duck it is usually a duck
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10-18-2018, 05:32 PM #12
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10-18-2018, 05:32 PM #13
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10-18-2018, 05:33 PM #14
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yup that typically happens with new funders, problem is that blunder makes it look like the merchant is slow paying them, come renewal time
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