[Winning]

IF funding a NEGATIVE ACCT for a merchant that has a Negative balance awaiting receivables is an issue then ANY funder that will give a client a 2-10th position is a Predatory Lender if they were recently funded as their "CASH FLOW" is more than likely from another companies ADVANCE anyway......

Hence the current temperature of the people out side of the non traditional lending services, and why a lot of them want more regulation..


Also very similar to the Opiod Crisis.
Most common people thought that the Big Pharm Companies, and Doctors had the common persons's best interest in mind when manufacturing and prescribing that stuff..
So was the opiods the best tool to use for what ever the issue was? Could a tool that wasn't so addictive have been used instead? Why was the Opiod the tool chosen?
Again, all those questions will have to be answered when they evaluate all the "underwriting".. Each case could be different... Maybe the Pharma Industry could have self policed a little better before it got the the point it is now.

Seems very similar.. But self policing is one of the hardest things to do. As a business owner, I always want more more more.

[ajequitymatt]

Hence the current temperature of the people out side of the non traditional lending services, and why a lot of them want more regulation..


Also very similar to the Opiod Crisis.
Most common people thought that the Big Pharm Companies, and Doctors had the common persons's best interest in mind when manufacturing and prescribing that stuff..
So was the opiods the best tool to use for what ever the issue was? Could a tool that wasn't so addictive have been used instead? Why was the Opiod the tool chosen?
Again, all those questions will have to be answered when they evaluate all the "underwriting".. Each case could be different... Maybe the Pharma Industry could have self policed a little better before it got the the point it is now.

Seems very similar.. But self policing is one of the hardest things to do. As a business owner, I always want more more more.

Maybe people are taking out so many merchant cash advances because big pharma got everyone in America addicted to drugs and they all need fast money to support their habits

[Chambo]

There are all types of bad things going on in the world, we were specifically discussing funding merchants that currently have a negative balance when they request funds, and if that makes for an easier "Predatory Lending" accusation.

What did I say that sounded dumb or incomprehensible?

Nothing was incomprehensible,...just a bunch of kids whining because they want what they want, and don't want to face reality.

ONE THING everyone seems to be avoiding like a hot potato...is that you guys are supposed to the experts, the professionals. FIDUCIARY RESPONSIBILITY comes into play there. What THAT means is...IT DOESN'T MATTER if the merchant wanted it, needs it to stay in business, or signed everything willfully. YOU AS THE PROFESSIONAL need to pull back, due to the unsustainable position of the merchant to repay. When you do NOT CARE if your advances are taking 3-40% of the merchants' GROSS revenue, or you DO NOT CARE that upon refi after you throw in your fees, the merchant is paying 2-3 times on his/her money....then you are A TEXTBOOK PREDATORY LENDER....and it doesn't MATTER what you ,or your brethren in the office think...it matters WHAT A LAYMAN JUDGE & JURY THINK

[ajequitymatt]

Nothing was incomprehensible,...just a bunch of kids whining because they want what they want, and don't want to face reality.

ONE THING everyone seems to be avoiding like a hot potato...is that you guys are supposed to the experts, the professionals. FIDUCIARY RESPONSIBILITY comes into play there. What THAT means is...IT DOESN'T MATTER if the merchant wanted it, needs it to stay in business, or signed everything willfully. YOU AS THE PROFESSIONAL need to pull back, due to the unsustainable position of the merchant to repay. When you do NOT CARE if your advances are taking 3-40% of the merchants' GROSS revenue, or you DO NOT CARE that upon refi after you throw in your fees, the merchant is paying 2-3 times on his/her money....then you are A TEXTBOOK PREDATORY LENDER....and it doesn't MATTER what you ,or your brethren in the office think...it matters WHAT A LAYMAN JUDGE & JURY THINK

I'm really not trying to be a jerk or anything this all just seems like one big joke to me... I'm sure that everyone here has funded deals with negative days and I'm also sure that everyone pushes to have their merchants funded when the bank login shows that the merchant is negative. I also know first hand that some of the most respected and largest brokers in the industry will rush to make sure a merchant is positive in their bank account before the funding company calls. I've never had a broker call me and say "Matt this guy is negative so you should kill the deal now". It's just funny to me to see how people want to have some kind of perception of something they are not online.... But I apologize I don't want to upset anyone.

[Chambo]

I'm really not trying to be a jerk or anything this all just seems like one big joke to me... I'm sure that everyone here has funded deals with negative days and I'm also sure that everyone pushes to have their merchants funded when the bank login shows that the merchant is negative. I also know first hand that some of the most respected and largest brokers in the industry will rush to make sure a merchant is positive in their bank account before the funding company calls. I've never had a broker call me and say "Matt this guy is negative so you should kill the deal now". It's just funny to me to see how people want to have some kind of perception of something they are not online.... But I apologize I don't want to upset anyone.

Deals are killed all the time & every day due to negative balances

[Winning]

Maybe people are taking out so many merchant cash advances because big pharma got everyone in America addicted to drugs and they all need fast money to support their habits

Okkk,, I thought we where having a real discussion here.. I was a little skeptical when you said "I sounded dumb" but this reply pretty much confirms that you have already checked out of this conversation. But I appreciate your time, I did learn something new today.. I have never in the past had a reason to read anything in depth or discuss anything regarding Predatory Lending.

[Winning]

I'm really not trying to be a jerk or anything this all just seems like one big joke to me... I'm sure that everyone here has funded deals with negative days and I'm also sure that everyone pushes to have their merchants funded when the bank login shows that the merchant is negative. I also know first hand that some of the most respected and largest brokers in the industry will rush to make sure a merchant is positive in their bank account before the funding company calls. I've never had a broker call me and say "Matt this guy is negative so you should kill the deal now". It's just funny to me to see how people want to have some kind of perception of something they are not online.... But I apologize I don't want to upset anyone.

I am a "merchant", not a broker, lender, funder, iso, banker, etc.. So maybe I offer a unique perspective and a different voice here on the forum since I see things and think about things through the other side of the lens.

I don't think you upset anyone. We good!

[ajequitymatt]

Okkk,, I thought we where having a real discussion here.. I was a little skeptical when you said "I sounded dumb" but this reply pretty much confirms that you have already checked out of this conversation. But I appreciate your time, I did learn something new today.. I have never in the past had a reason to read anything in depth or discuss anything regarding Predatory Lending.

I understand everything you are saying and I can 100% see your point. My personal belief is that a negative merchant does not mean a merchant who should not be funded especially when they have a record of getting themselves back into the positive. A lot of things can happen that will make someone go negative and I am confident that if someone came knocking on my door for answers, that I would be able to show them why we believe this funding was justified.

Happy Friday man!

[Winning]

OMG, look at the latest headlines... (if this is old news, I am sorry, I don't watch to much TV)
Top executives at major opioid company found guilty of criminal racketeering. The verdict could send the former executives to prison for years..
https://www.vox.com/policy-and-polit...pioid-epidemic

Wow, I cant believe I was just speaking about that industry.. I guess there underwriting didn't hold up in court..

[ajequitymatt]

OMG, look at the latest headlines... (if this is old news, I am sorry, I don't watch to much TV)
Top executives at major opioid company found guilty of criminal racketeering. The verdict could send the former executives to prison for years..
https://www.vox.com/policy-and-polit...pioid-epidemic

Wow, I cant believe I was just speaking about that industry.. I guess there underwriting didn't hold up in court..

That's crazy... I know about the opiate epidemic. I was only semi kidding when I said merchants are taking out cash advances to feed their addiction. It really is a major issue in our country.