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05-04-2020, 04:57 PM #1
- Join Date
- Jul 2019
- Posts
- 18
Who's Funding? Advantage Is!
Afternoon DailyFunder Fam!
First thing's first - I hope everyone is staying safe and healthy!
Since we are a few weeks into the crisis now - we have been able to take a look at our books and what has still been performing to develop some newly updated funding guidelines.
The biggest changes are the reoopening up of construction/contracting services - and our cap reduction to $50k max on the majority of deals.
The risk tolerance isn't there at the moment to go into a deal for $500k - I'm sure you can understand why. That being said, we do want to fund deals within our new essential business guidelines and happy to do add-ons/renewals at a higher dollar down the road if we see the deal is performing well!
We are continuing to monitor the situation closely and making an exerted effort to adjust accordingly - because we ACTUALLY want to fund!
Please reach out to: izzy@advantagecapitalfunding.com for our updated guidelines or an iso agreement.
Doing my best to keep putting money in your pockets - I know we all could use it!
Much love as always,
Your Favorite Iso Rep
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05-05-2020, 11:32 AM #2
- Join Date
- Jun 2015
- Posts
- 754
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05-06-2020, 11:25 AM #3
- Join Date
- Jul 2019
- Posts
- 18
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07-16-2020, 12:00 PM #4
- Join Date
- Oct 2015
- Posts
- 37
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05-05-2020, 12:20 PM #5
- Join Date
- Nov 2013
- Posts
- 600
Didnt you guys just recently have a "data breach"? Read an article recently stating a "leak" of 425gb of data "the database appears to be connected to MCA Wizard, a now-defunct app that appears to have been developed by Advantage Capital Funding and Argus Capital Funding" Would like to hear your company official position on this.
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05-06-2020, 12:28 PM #6
- Join Date
- Dec 2017
- Posts
- 238
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05-06-2020, 12:38 PM #7
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
Data Breach
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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05-06-2020, 04:48 PM #8
- Join Date
- Jul 2019
- Posts
- 18
Apologies - FCF seems to enjoy commenting on my posts and for the sake of my sanity, I'd rather not engage.
That being said, it is important that you all know that the article was bs and our systems are 100% secure.
I dislike engaging with blatantly false claims because it seems defensive and gives the claim validity. However, I acknowledge that because this is a public forum, that you all would like some clarification and I hope I provided that.
Ask around about me or read the other threads I've posted - send your deals to Advantage, Izzy will get em done!
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05-06-2020, 04:51 PM #9
- Join Date
- Jul 2019
- Posts
- 18
Today we lowered our minimum monthly average revenue requirement to $20k, and our TIB requirement to 2 years.
We realized we were missing out on some quality deals in that space and have adjusted accordingly.
Trying to make it easier for y'all to make your money - so take Advantage!
Send your deals and questions to izzy@advantagecapitalfunding.com
Much love,
Your Favorite Rep
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05-06-2020, 07:47 PM #10
- Join Date
- Oct 2016
- Posts
- 4,318
I mean, the article listed actual documents from Argus/Advantage they got thru the breach. I’m just saying that the article was damning, and the only defense is you just saying it’s BS. Nothing more. Don’t know if that’s gonna cut it. Has your company asked for the article to be removed? Filed a law suit? Anything?
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05-07-2020, 11:39 AM #11
- Join Date
- Jul 2019
- Posts
- 18
I'm sure our legal team is putting something together. You can imagine how swamped they are regarding the collections issues that have arisen because of the pandemic. To reiterate the bottom line - our systems are 100% secure.
To add some context for everyone here - I quite literally had to get my home IP address whitelisted by our IT team to even be able to log in to our systems from home.
Go to mcawizard.com and see if it lets you on there - it won't even load, let alone enter login credentials, if you're not whitelisted and it will prove my point.
I'm not some big shot that can't admit he's just a rep - I'm a damn good one though.
So send your deals and questions to izzy@advantagecapitalfunding.com since we are one of the few that are ACTUALLY funding!
You're probably getting our offers from a white label company anyway so send your deals direct!
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05-07-2020, 02:54 AM #12
- Join Date
- Sep 2019
- Posts
- 402
Not only is it NOT bs. It's your legal obligation to inform all the merchants who were affected by this, as soon as it happened.
Do you think it's fair to a business owner who applied for an advance, gave you their SSN, Home Address, Cell number, Bank account numbers etc, to be unaware that any hacker in the world right now could be stealing their identity or money? Taking out loans or opening up CC's in their names or god knows what?
Is it fair to the brokers who's clients are being screwed by this breach and they don't even know it because you are claiming it's BS instead of getting ahead of it?
It's true. The FTC is all over this industry now and data breaches are the EASIEST to prove and prosecute. You making false statements on behalf of your company with no proof will only get you in personal trouble because on top of the breach you are now lying and telling people something is safe when I doubt you even know what MCA Wizard is, how it worked or how it could've been hacked.
Hacking isn't that hard. Apparently, being honest is.
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05-06-2020, 11:27 PM #13
- Join Date
- Nov 2013
- Posts
- 600
A few companies have had data breaches in this space, some embrace the error and made public announcements (greenbox) which shows accountability and humility and others try to sweep it under the rug and pretend it never happened.
I wanted to give you and Advantage the chance to put out a response.
That being said, just gonna leave this here....this site gets 2mm visitors a month, seems like they know what they're talking about and not BS'ing, they showed their receipts.
https://www.vpnmentor.com/blog/report-mca-wizard-leak/
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