[Michael I]

https://www.youtube.com/watch?v=A3xc1UotJng


I'm genuinely curious about this question: A lot of people in MCA are religious and to me religion has the utmost respect towards life and humanity. Does anyone who funds merchants ever feel bad when they freeze their bank account, file a judgement against them, harass the merchants, embarrass them by calling their clients/AR, and do other aggressive collection methods? I understand the theory that "merchants are assholes anyway" but how can one of gods creations be so deserving of such punishment if god forgives all humans sins on earth? Does anyone ever feel like they are taking advantage of someone who's in a tough situation in their life?

first off i am a broker. Now i do speak to a lot of funders and merchants.Beside for some scumbags (bad apples) funders that i hate , most hate going the legal route and will try very hard to reach the merchant and have the iso try also just to talk with them and tell them whats up . They pretty much all will work with a merchant going through a hard time like what is happening now. Now keep in mind no one is running a charity ,just giving money for free. They have to do some sort of collections as they have responsibility to their investors.

[pcfunder]

first off i am a broker. Now i do speak to a lot of funders and merchants.Beside for some scumbags (bad apples) funders that i hate , most hate going the legal route and will try very hard to reach the merchant and have the iso try also just to talk with them and tell them whats up . They pretty much all will work with a merchant going through a hard time like what is happening now. Now keep in mind no one is running a charity ,just giving money for free. They have to do some sort of collections as they have responsibility to their investors.

Does that mean that collecting money is more important than another persons life? I had a deal awhile ago where a merchant was doing 500k a month and had an excellent business. By his 3rd advance a lot of things started to happen to him and his business had a major downfall that was unexpected. I spoke to him on the phone to try and set up a payment plan and he literally said "I am trying my hardest to not jump off the nearest bridge". Does a responsibility to an investor have more merit than a responsibility to being a good person who happens to be more blessed on this planet than the person you are legally going after?

Also whats the justification in giving someone $50,000 and having them pay back $75,000 over 6 months with 5% fee's so the merchant doesn't even net the full 50k... Does that also somehow feel moral and normal to do to other people who are living in this same world we all share under god? If I was an investor and I had millions and millions to play with, I'm not too sure that I would look at cash advance as a game to get into. Technically I could get into selling cocaine and that would make me some INSANE profit as well but where does the line from whats morally right and wrong start and end?

[Michael I]

Does that mean that collecting money is more important than another persons life? I had a deal awhile ago where a merchant was doing 500k a month and had an excellent business. By his 3rd advance a lot of things started to happen to him and his business had a major downfall that was unexpected. I spoke to him on the phone to try and set up a payment plan and he literally said "I am trying my hardest to not jump off the nearest bridge". Does a responsibility to an investor have more merit than a responsibility to being a good person who happens to be more blessed on this planet than the person you are legally going after?

Now you are getting involved in a specific situation that a funder needs to make a call.Did something happen or was it take the money and run. big difference.
I have a current merchant that not only put a stop payment 1 week in , she even went in disputed the week of payments she did do. now she is a person , she is a single mother with 3 kids . should the funder just write it off as charity or go after her?

[pcfunder]

Now you are getting involved in a specific situation that a funder needs to make a call.Did something happen or was it take the money and run. big difference.
I have a current merchant that not only put a stop payment 1 week in , she even went in disputed the week of payments she did do. now she is a person , she is a single mother with 3 kids . should the funder just write it off as charity or go after her?

In a perfect world, write it off and try to find a better product that doesn't destroy people with bad credit and financial difficulties cash flow. I'm young and honestly not as experienced as a lot of you guys in a lot of ways. I'm just wondering why people who have so much money, power, and influence are investing in the growth of MCA's? A decent amount of my friends from Baruch College and even from my high school went into MCA because of the insane amount of jobs that were created from this industry. I'm wondering why investors who are people of God couldn't find something else to invest into that would maybe be a little less evil?

Also a lot of high risk firms are very religious too. What is their excuse? Isn't their entire business model based off of putting most merchants into default and aggressively going after them through insanely abusive collection methods?

[Michael I]

Also whats the justification in giving someone $50,000 and having them pay back $75,000 over 6 months with 5% fee's so the merchant doesn't even net the full 50k... Does that also somehow feel moral and normal to do to other people who are living in this same world we all share under god? If I was an investor and I had millions and millions to play with, I'm not too sure that I would look at cash advance as a game to get into. Technically I could get into selling cocaine and that would make me some INSANE profit as well but where does the line from whats morally right and wrong start and end?

Flip side is dont give them anything and now what ? where does that end? On my birthday my phone blows up from merchants calling me that love me. some i funded 5 years ago and never since but still love how it saved the business that one time he needed money asap. My job as a broker is to get the merchant the best possible deal that is out there for them , whether that is a sba loan or 3 month 1.5 . spell out all fees and let them think about it and let them make there own decision