[pcfunder]

1) David, watch your language if you are wearing a kippah in public. Seriously.

2) Capitalism: The worst economic system, except for all the others (not really Churchill, but very true, he was talking about Democracy as a political system)
Don't throw the baby out with the bathwater here. Fight to regulate in the right way. You yourself while being the knight in shining armor doing credit repair with The Credit Desk were funding and saw the needs for funding to "get them over the hump" and it was a good place to be, but you have emotional regrets it appears. You can't be UPSET at someone for exercising their rights to buy what they want with their money (future non-existent AR) for profit. You can try to reform it, make the sales more legit, but it really should be done within the context of capitalism and let it self-correct as best as possible, because socialism just doesn't work, nor does it encourage people to learn to make good decisions for themselves. At the same time, give some "buyer protection" and don't let merchants steal.

David, how do you make money on this? Donations? YouTube hits? Merchants coming to you for advice and then you fund them with a cash advance, credit repair, and broker them to the bank?

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.

[abfunders]

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?