[pcfunder]

the mindset is, I have bad credit, or I have a criminal background, or my business is not able to be funded by a bank, or simply my business can not wait 3 months to get approved for funding at a bank; so its either I get no funding at all and let all my hard work and investment into my business go to hell or I take expensive capital. This is America, everyone should have a choice to do what they deem is necessary.

Cash advance is definitely an industry that the market created itself. Small businesses and merchants with bad credit needed capital when denied by banks and MCA stepped up to take on that role. My own personal experience in MCA has been really tough. I've worked for 4 brokerage shops that have been run by people who have literally gone to prison for years for serious crimes. I have worked at places where not only my managers but the owners were laughing and smiling about how happy they just screwed/lied to merchants. I have managed hundreds of large and respected ISO shops to continuously find that they will use any excuse/lie in the book to get ANY and I mean literally any deal funded with no regards to whats going to happen to the funders money or to the businesses cash flow. I have seen deals in bank statements that scare me and I have helped merchants get out of them and into better programs. I have seen merchants being told that they need to take out 6 advances because once they take out all 6 the broker will be able to get them into a reverse consolidation which should never be a reason to do a reverse and usually the merchant doesnt even qualify and they default on all funders.

I don't think MCA itself is bad. I think that the unregulated and no barrier of entry aspect of MCA has generated a large amount of misconduct that has been kind of hard for me to personally be involved in.

I have also had merchants thank me years later because no one else was willing to give them money and they used an MCA for the right reasons. I don't see it much but I do see that too.