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02-27-2019, 05:03 PM #1
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A new disgusting mca trend
it is funny to me how these big & mighty A lenders preach how holy they are but they are starting to charge perfectly good paying merchants stacking fees.
and we arent talking $295
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02-27-2019, 05:11 PM #2
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All to often nobody bothers to read or understand their loan agreements, advance agreements, or invoice purchase agreements and then they are shocked why someone charges them a fee for doing something that was against and agreement.
Some lenders have been ignoring the advance stacking for years. They know their client violated their agreement, but they don't want to upset the relationship so long as the client pays them back. Some are starting to drop the hammer on clients for violating loan agreements by throwing them into default on their agreement.
Best,
KevinKevin 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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02-27-2019, 05:13 PM #3
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02-27-2019, 05:30 PM #4
Swift did that a lot back in the day
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02-27-2019, 05:46 PM #5
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02-27-2019, 06:10 PM #6
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02-27-2019, 07:44 PM #7
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02-27-2019, 05:35 PM #8
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02-27-2019, 07:43 PM #9
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02-27-2019, 05:39 PM #10
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02-27-2019, 05:46 PM #11
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Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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02-28-2019, 10:39 AM #12
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02-27-2019, 07:34 PM #13
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The no stacking agreement isn’t even a clause. It’s it’s own agreement usually that’s usually titled “No Stacking Agreement”. The language is pretty clear and they go over it during the funding call. So the merchants know what they’re getting into.
Like Michael said above, it is funny when stackers have no stacking agreements.
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02-27-2019, 07:44 PM #14
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02-28-2019, 06:45 AM #15
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Mca have done more damage then good
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02-28-2019, 08:08 AM #16
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02-28-2019, 08:10 AM #17
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02-28-2019, 03:54 PM #18
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Legal extortion
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02-28-2019, 03:57 PM #19
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03-01-2019, 12:45 PM #20
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^ the # of breached mca contracts against that language is prob staggering if truth be told
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03-01-2019, 02:08 PM #21
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I remember one funder who put a couple of merchants in default after they 'Stacked him'. in reality, the merchant simply renewed his 1st position and this funder was the stacker
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03-01-2019, 02:09 PM #22
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03-01-2019, 11:29 PM #23
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03-01-2019, 11:27 PM #24
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