[SmartAdvanced]

http://www.roi-nj.com/2019/05/21/fin...ced-hes-right/

[DTFdowntofund]

I hate WBL

[SmartAdvanced]

I love how WBL - the only shop with the balls to tie up property with MCA rates - lectures the industry

[ryan $]

WBL Is Nuts.

Why would they want Regulation?

They Underwrite in INSANE WAYS. Normally a Person who wouldn't Qualify for an MCA, Negative Days, NSF's - Issues up the wazooo. Can get funding because they have property. Hmmmm, now lets think, without the property a lender wouldnt approve them because of the risk of default........ but because they have property, its like **** it - FUND THEM! One would say your almost hoping for a default.... to go after the property.

That WBL Property Flim Flam should be regulated.

[abfunders]

Ryan, didn't you say that you liked Par's property program?
Also, keep in mind, if someone is going to default, nobody wants to lose their property. WBL has found the correct incentive to keep their clients extremely on-target with good payment history. It's a much stronger incentive than a COJ.

[Michael I]

Ryan, didn't you say that you liked Par's property program?
Also, keep in mind, if someone is going to default, nobody wants to lose their property. WBL has found the correct incentive to keep their clients extremely on-target with good payment history. It's a much stronger incentive than a COJ.

yeah but if thats the case why are the rates higher than yellowstone.

[ryan $]

Ryan, didn't you say that you liked Par's property program?
Also, keep in mind, if someone is going to default, nobody wants to lose their property. WBL has found the correct incentive to keep their clients extremely on-target with good payment history. It's a much stronger incentive than a COJ.

I do Like Pars Program.

But Par doesn't Price like WBL. It seems like they want you to Default (WBL).

In my experience, Par Property deals are when its a Restricted Industry. If they have Property - Par will do it. But its still underwritten normally.

[SmartAdvanced]

to take higher than MCA rates when you're secured by property is the definition of Loan Sharks - and he's talking as if he works for Chase Manhattan.. WTH

[Happy Horse Shit]

The whole idea behind incorporation is to seperate the liabilities of the company from the personal assest of the company's owners--that model blows that up.

[Sachip24]

WBL is in the "loan to own" business.

[Fundyman]

WBL is in the "loan to own" business.

EXAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAACTLY what I was just about to say, but in longer terms:

They have a brilliant way of increasing their real estate portfolio.

[Fundyman]

not so brilliant way of expressing their racism though...

[RickyR3712]

yeah but if thats the case why are the rates higher than yellowstone.

Saw a 1.7 factor on 30k.Beside the 1.7 factor they charged her 5k for appraisal etc. And a 3% origination fee.

[DTFdowntofund]

Saw a 1.7 factor on 30k.Beside the 1.7 factor they charged her 5k for appraisal etc. And a 3% origination fee.

That's how they do. And then when merch cant pay they've got a lien on their property.

[SmartAdvanced]

I doubt they can take away property. But in any case they shouldn’t be calling for legislation.