The lenders can absolutely go after them. The merchant is selling a percentage of their future receivables and are presenting the value of those receivables with the statements they used for the application. The contracts clearly state they must maintain the way they run their business and that includes those accounts. If the merchant then intentionally changes their business practices and even change their accounts to avoid detection on another funding program, the first lender can easily and clearly prove it beyond a reasonable doubt in front of any judge.