[CarolinaSweetJuice]

Hi All,

Can someone please provide me a list of all the companies that fund defaults? Thank you guys.

[ajequitymatt]

I can't provide a list but I can let you know that AJ Equity funds defaults and that we only require DL, VC, COJ to fund! No business license, no credit card statements, no mortgage statements, no rent checks, etc... are required with us even for our default program! We also do all of our underwriting upfront which means we fund close to all of our signed contracts.

[ajequitymatt]

I can't provide a list but I can let you know that AJ Equity funds defaults and that we only require DL, VC, COJ to fund! No business license, no credit card statements, no mortgage statements, no rent checks, etc... are required with us even for our default program! We also do all of our underwriting upfront which means we fund close to all of our signed contracts.

Technically I can provide a list. Midnight, Second chance, AJ Equity (awesome amazing great company), and others that I am forgetting about

[FCF Fund]

Technically I can provide a list. Midnight, Second chance, AJ Equity (awesome amazing great company), and others that I am forgetting about

So would you have that same 30 day term, 1.49 + 10 pt fees like midnight?

[ajequitymatt]

So would you have that same 30 day term, 1.49 + 10 pt fees like midnight?

Less than 10% fee's and we can technically go pretty long on our default program. Our standard term is 30 days but I've done a 45 day default, a 60 day default, and even a 100 day default deal. I just did one where the merchant defaulted on a lot of companies but had good credit and paid everyone off using an advance from Amex. Merchant explained to us what happened and we felt comfortable going out 100 days on them. Our goal is to renew into better programs.

[AllDayMoney]

Atlas!

[Fundingfrenzy]

Peter@atlasadvancedfunding.com funds Defaulted Merchant
Also he does Micro deals 2-10K 60 days even if its a default

[CarolinaSweetJuice]

Thanks everyone

[arealfundguy]

a paper shredder is a great place for defaults..

[FUNDamental]

The so called “ default funders” do not exist. You will spend time putting a file together only to receive an decline. My advice, don’t waste your time sending unless your merchant is doing 50k per month. It has to be “backdoorable” to get a look...

[John82]

Banks funding known defualts are what's wrong with this industry. Pick up the phone and move on.

[Don Dolla]

sell em

[Don Dolla]

we fund defaults every week

[DTFdowntofund]

If you really look at the logic, and it was your money.. would you want to fund someone who recv'd an advance in the past and didn't pay that guy back? If he didn't follow through with him, why would he with you? It's about calculated risk assessment, and if people are willing to take that risk, chances are they have sustained a pretty high default ratio. Obv unless the "default" was due to some outside-the-box circumstances.. I have one right now like that, but they're few and far between.

[BB_Cooper]

If you really look at the logic, and it was your money.. would you want to fund someone who recv'd an advance in the past and didn't pay that guy back? If he didn't follow through with him, why would he with you? It's about calculated risk assessment, and if people are willing to take that risk, chances are they have sustained a pretty high default ratio. Obv unless the "default" was due to some outside-the-box circumstances.. I have one right now like that, but they're few and far between.

Agreed. That's why Cooper focuses on defaults that have settled out with the prior funder in some form or fashion. Life happens and sometimes merchants dig there way out of hole. But it takes thoughtful underwriting with experienced eyes on the file to make these default cases work-

Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com

[DTFdowntofund]

Agreed. That's why Cooper focuses on defaults that have settled out with the prior funder in some form or fashion. Life happens and sometimes merchants dig there way out of hole. But it takes thoughtful underwriting with experienced eyes on the file to make these default cases work-

Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com

I'm not saying a default is an automatic one way ticket to F-U-ville, but in the grand scheme of paper, they're def the most difficult / time consuming. I always tell people that this product isn't cookie cutter.. things are analyzed on a case-by-case basis. With that being said, some instances are not what they seem at all, ie- paused payment req, penalty discrepancies etc.. but even with straight lack of repayment, I think if your niche is trying to assist there, there are instances where issues such as hurricane damage or other circumstances beyond someone's control may come into play. But that too also brings another issue to light, in that the majority of merchants who find themselves in difficult situations take it up on themselves to reach out to the funders who they currently have open positions with and have open lines of communication with the retention / risk management departments concerning that to prevent the default from the jump. I dunno. If that's your sweet spot, by all means have at it. ****, I have a couple I'll shoot your way myself lol.

[ABL Rob]

Instead of looking at another MCA as a funding solution for a Defaulted Merchant.

Ask the Merchant ("Client") how do they get paid?
Does Client invoice B2B or B2G (Business to Government) transactions?

A/R Factoring does not look at the credit-worthiness of the Client;
Factoring looks at the credit-worthiness of the "Account Debtor" (the Customer invoiced).

Amerifactors is a Direct Lender, and we do not look at Bank Statements.
We pay brokers recurring monthly residual commissions, on closed deals funded.

Give me a call, or email, to learn more about Factoring as a lower cost-effective revolving funding solution for your Client's.

Rob Brownell
Amerifactors Financial Group
215 Celebration Place, Suite 340, Celebration, FL 34747
p: 772-419-8606
e: rbrownell@amerifactors.com
w: www.amerifactors.com

[stevenk1818]

We are still funding defaulted deals! As a reminder to what qualifies…


• Judgement needs to be filed and satisfied at the full dollar amount
• We need proof of this being satisfied
• Average daily balances less than $400 are considered a negative day

A copy of these guidelines are attached to this email for you to save for future use.


Steven Kamhi
Iso Boarding Link https://fundkite.com/iso-sign-up-steve-kamhi/
Wall Street Plaza
88 Pine Street, 17th floor, New York, NY 10005
Direct line: 929-999-6100 // Tel: 212-952-0001 ext: 1014 // Cell: 516-314-6887 // Web: www.FundKite.com

[fundingsmbs]

just like consolidated, I call BS on all this

[The Chosen One]

We are still funding defaulted deals! As a reminder to what qualifies…


• Judgement needs to be filed and satisfied at the full dollar amount
• We need proof of this being satisfied
• Average daily balances less than $400 are considered a negative day

A copy of these guidelines are attached to this email for you to save for future use.


Steven Kamhi
Iso Boarding Link https://fundkite.com/iso-sign-up-steve-kamhi/
Wall Street Plaza
88 Pine Street, 17th floor, New York, NY 10005
Direct line: 929-999-6100 // Tel: 212-952-0001 ext: 1014 // Cell: 516-314-6887 // Web: www.FundKite.com

You're still at fundkite?

[stevenk1818]

We do !!!!Fundkite

[stevenk1818]

yes, i am !!! it a great place work !!!

[Kevin Henry-Seacoast]

StevenK-You are replying to a post that is over a month old. The originator of the post has been banned from the forum...... Just a heads up......

[WhoisKingsley]

yes, i am !!! it a great place work !!!

Now that everyone is gone. I've never seen a spike of people from one Company within 24 hours until the other day and then you come out of no where and say you are still funding? Where were you a month ago when the post came up?

[stevenk1818]

fundkite