[Franklin]

Dear Sir,

I am sorry to hear of your struggles. I am in a position to help you. My family, the rightful heirs to the Nigerian throne, have great fortunes. We will be able to assist you and make your life better and restore your company's operation. If you could be so kind as to wire me $500k so that we can release the funds through customs that will make your company whole.

Kind regards,
Prince Nunya
Rightful heir to the Nigerian Throne

Stop making scammers look good with your fake non-scam letters. The English and punctuation in your paragraph is flawless, clearly showing that it’s not a foreigner but just some spoiled poseur American frontin’ for the cameras...










Www.UccRadar.com - Ucc records that come to you for renewals.

[JMB]

I came across this site trying to get more info when i was 1st approached about taking a working capital loan about 4 or 5 years ago. Evidently my credit card processor had some sort of deal with Bizfi which approached me with a pre-approved working capital deal.. Once I spoke with Bizfi guy, I was skeptical with all the stuff he was saying, so I wanted to vet the info, so I started googling certain terms he was using.... I eventually stumbled on the site and have been here ever since, learning so much from you all, and how all this works...

So you take cash advances? I heard marcus gives great rates and terms

[MCAdude]

Dear Sir,

I am sorry to hear of your struggles. I am in a position to help you. My family, the rightful heirs to the Nigerian throne, have great fortunes. We will be able to assist you and make your life better and restore your company's operation. If you could be so kind as to wire me $500k so that we can release the funds through customs that will make your company whole.

Kind regards,
Prince Nunya
Rightful heir to the Nigerian Throne

Lmao!

nig.JPG

[MCAdude]

Hello All,
I have fallen to the following scam setup, which was carried out perfectly, and need advice/support/help:

Has anyone else had this issue? Please contact.

- 1) A broker calls me after noticing we paid off 3 large MCA's last year, and says he has a great term-loan of 9% annual rate for $1Mil.
- 2) But before we can get to that, we need to take this "bridge loan" (let's call it "the poison loan", as the rate on it is ridiculous, and taking it was like swallowing poison) and be able to keep it for "30 days" without missing payments and taking any other loans.
- 3) The 30 day passes, even 60 days passes, we keep on hearing stories on how the term loan is being prepared, but of course, nothing comes through.
- 4) The broker knowing we have planned our operation on his term loan coming through, delays any new funding to the point that we break and that we are forced to take other solutions on the 80'th day (50 days over the 30 day roll-over date).
5) once he sees the new MCA taken, he points the finger to it and bails himself out, throwing the problem back on us, saying "well, you broke our agreement".


Recognizing what these people have done is pure fraud, it is all clear now to me. Questions are:

- How can we hold the broker accountable?

- If they pulled this on me, I am sure I am not the only one. The entire plan was perfectly done from their end, and so it was well prepared and practiced- all they had to do was to find an honest fool to pull this off on them. Do you know any others who have been hit with this scam?

- Is the funding company involved with the broker? No one in the right mind would take the MCA at those rates, unless they are being lied to. so it seems normal for the funding company to have hired these brokers to go out and lie to people to get them stuck with poison loans- after all, the funding company is hiding behind their "funding call" and agreements, and the broker does not sign any agreement.

- This is a pure robbery, and is has destroyed my operation (the damage of it is a sudden $500K blow in my operation in a short time, which I have no way to absorb). I need help.

unfortunately this has become a daily occurrence by many shops. New ISO shops opening each day and same leads called by all of them. They cannot close these deals and lack true marketing or the ability to develop a long term and honest relationship with merchants. It is their only way to sell a deal. I've seen this many times and heard of brokers drafting up fake contracts and fake funding calls.

This is very wrong and these broker's should be held accountable for the fraud. The funding companies lose millions a year to this scam when merchants cannot pay the MCA obligations they took only because of the "long term low APR' BS deal they were pitched and counted on.

Who was the broker? Calling them out can help the funding companies and merchants avoid their scams

[EdwinS]

I don't want to go public right now. The founder of the broker was busted 10 years ago for stock market fraud.... and pleaded guilty, is all I can say now.

[EdwinS]

a minute before I did the finding call, the broker called me to make sure I do not say anything "about the deal"...
This was a masterfully planned operation.

[EdwinS]

I did let the lender know when I found out it was bogus (after the 30 days). They did not do anything.
I spent the money on my projects.

[EdwinS]

The funder is not doing anything at all.

I am not going public just yet.

[EdwinS]

JMB, i am not a reporter. i created the account but never got the password until last week that I sent a reminder.

[EdwinS]

Hi, this is 100% true what I described. I just don't want to name them yet. If you know others, maybe it could b a class action?

[EdwinS]

you are not understanding the scam part- the entire stunt was pulled in a perfect manner (that's the definition of a fraud- to make it look like it's believable)

[EdwinS]

Micah, my broker called me 1 minute before the funding call to make sure I do not let the funding call know about "our deal"

this was a well planned and executed operation. the founder of the broker company is a known and convicted NYC organized family member who did the same thing in stock market back in 2006. so they know exactly how to pull this off to make it look like it's believable.

[Sachip24]

Hi, this is 100% true what I described. I just don't want to name them yet. If you know others, maybe it could b a class action?

STFU and get off this site you knew exactly what you were doing and getting yourself into.

[newunderwriter007]

Micah, my broker called me 1 minute before the funding call to make sure I do not let the funding call know about "our deal"

this was a well planned and executed operation. the founder of the broker company is a known and convicted NYC organized family member who did the same thing in stock market back in 2006. so they know exactly how to pull this off to make it look like it's believable.

So when the broker called you before the funding call not to let the funding company know abut the "deal", that didn't strike you as suspicious?

[ryan $]

How do merchants just come across this site is another question i have lol

I was actually sent a PM from a merchant a few months back on here - the deal Funded.

[JMB]

I was actually sent a PM from a merchant a few months back on here - the deal Funded.

Wow , thats surprising. I wonder how many users on here are actual merchants rather then brokers/funders.

[newunderwriter007]

Is there a way of checking for people who never posted?

[abfunders]

I funded a reverse from an inbound call from a merchant who logged on the forum and saw that I was speaking sense.

[Kevin Henry-Seacoast]

I have had business owners reach out to me directly from the forum.
I have also had some "large funders" that post on the forum reach out to me to see if we would be interested in providing a line to their "funding company". We do not finance advance companies. We have provided lines to other factoring companies and acquired portfolios from other factoring companies. One of which reached out to me from this forum.

KH

[Keebler]

I funded a reverse from an inbound call from a merchant who logged on the forum and saw that I was speaking sense.

Not pointing any fingers. You are the only one on this forum with the name Micha. Please reassure us this has nothing to do with you. Your posts are normally sensible.

[JMB]

Not pointing any fingers. You are the only one on this forum with the name Micha. Please reassure us this has nothing to do with you. Your posts are normally sensible.

He was stating his name talking directly to him, not saying that he was the broker lol

[Michael I]

Not pointing any fingers. You are the only one on this forum with the name Micha. Please reassure us this has nothing to do with you. Your posts are normally sensible.

i think he was just responding to his post . not saying he was the broker

[abfunders]

I WAS NOT THE BROKER! I was commenting about a merchant being on the forum is legit. I'm sorry I didn't respond right away, I just got off the phone with that merchant, and we were schmoozing about renewing the small LOC/ advance from Par on the side, and how QuaterSpot got caught from the SEC.

I would NEVER EVER do that scummy lie. Like I've said - I also have a responsibility to my funders. I've also lost clients and money due to idiots like the subject of this thread. And I've complained about it on this forum.

Clear enough?

[golf2014]

Time to end thread, this is going nowhere.