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  1. #1

    rapid cap?

    anyone ever heard of rapid cap? they just send basic contracts for 184k over 4.5 months and the merchant is only doing 100k a month.

  2. #2
    Senior Member Reputation points: 65052 TheConfidentBroker's Avatar
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    Quote Originally Posted by chris32111 View Post
    anyone ever heard of rapid cap? they just send basic contracts for 184k over 4.5 months and the merchant is only doing 100k a month.
    Whoa nelly that isn't right. Who is their underwriter? They should be slapped

    I call FAKE bait and switch
    Funding is Temporary. Wu-Tang is Forever.

  3. #3
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    Is it on a credit card split?

  5. #5
    Senior Member Reputation points: 65052 TheConfidentBroker's Avatar
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    Quote Originally Posted by Steven_O View Post
    Is it on a credit card split?
    Even on a CC split thats crazy for 4.5 Months?!? Say the rate was conservative - a 1.40 (lol - I have to laugh) $257,600 - 4.5 months say 100 days they put it at -$2570 Daily?!?!? even at a split - Youre looking at them taking over 50% of their monthly gross

    Run fast. Tell the merchant its fake and tell them not to answer the phones anymore.
    Funding is Temporary. Wu-Tang is Forever.

  6. #6
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    Quote Originally Posted by Steven_O View Post
    Is it on a credit card split?
    That seems like the only way, although the term would need to be much longer.

    Otherwise this has “we need to reduce to $65,000 after contracts are back” written all over it

  7. #7
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    Quote Originally Posted by chris32111 View Post
    anyone ever heard of rapid cap? they just send basic contracts for 184k over 4.5 months and the merchant is only doing 100k a month.
    was there any Increment structure attached? or some sort of Reverse?

  8. #8
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    Quote Originally Posted by TheConfidentBroker View Post
    Even on a CC split thats crazy for 4.5 Months?!? Say the rate was conservative - a 1.40 (lol - I have to laugh) $257,600 - 4.5 months say 100 days they put it at -$2570 Daily?!?!? even at a split - Youre looking at them taking over 50% of their monthly gross

    Run fast. Tell the merchant its fake and tell them not to answer the phones anymore.
    Scam / Bait and switch
    A merchant just forwarded me this SMS he got:
    "Hi (merchant first name) this is Juan at FMS. I received your Lending Tree Request for $88,000. After reviewing what you have submitted, I have some GREAT NEWS! It looks like we can get you approved! Call me back or text me at this number."

    This is a merchant with a sub-500 credit score. I looked up the phone number, did some digging, it's obviously a broker. But I admit that it was a very cool way to get the merchant interested! Just read it a bit and think, "Why is FMS reaching out to me about a Lending Tree loan? Who is FMS?"

  9. #9
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    It takes a broker to know a broker I guess.

  10. #10
    this is another one of brezal and solomons entity - i would stay far away

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