Quote Originally Posted by pcfunder View Post
Kinda odd to be threatening to someone who’s looking at cash advances in another angle. This post alone almost explains everything wrong with cash advances in its entirety. David don’t worry about being chastised at all. Your allowed to open up a discussion about how our industry might need some changes. Every industry needs to continuously evaluate themselves and see if what they are doing can be better/more rewarding to their customers.
pcfunder, what? I did not threaten anybody. Chastise because of my obligations as a fellow in his religion. How is what I said "everything wrong with cash advances"?

Also, I said that he should fight for regulations, it needs to be an open discussion. How is that a bad idea?

I 100% disagree with the statement, "Guns don't kill people, people kill people." The question is how to deal with gun control. Do you give everyone a gun, or do you take it out of the hands of those who shouldn't have it, or do you ban as much as you can? So too in MCA, it doesn't need to be so violently political and emotional like people make it out to be.

I do hope that David makes money here. I sincerely hope that no good (fill in your subjection definition of "good") person should ever again have to live through working for free and/or be forced out of their income. If he is running a charity and self-funding, then more power to him. It's more of a curiosity here, and would be interested in knowing

David, perhaps instead of claiming "MCAs are predatory", warn about the ACTORS who are predatory, in addition to describing that "right now there's little to no need for MCAs." Show them the light of factoring. But for a client who has no collateral, who has no factorable AR, and is not profitable yet, there are just fewer options. There are plenty of not-qualified borrowers who will not qualify for an SBA that they still need access to liquidity.

A year ago when the PPP and EIDL and SBAs for clients with bad credit outlets didn't exist, what then? Are MCAs only by definition predatory when there's no other access to capital?