Results 26 to 34 of 34
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02-26-2021, 11:55 AM #26John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-26-2021, 03:03 PM #27
- Join Date
- Jun 2017
- Posts
- 2,049
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02-26-2021, 03:11 PM #28
- Join Date
- Jun 2017
- Posts
- 2,049
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02-26-2021, 03:16 PM #29
- Join Date
- Jun 2017
- Posts
- 2,049
And yea, I was right.
https://merchantcashadvanceblog.blog...rtnership.html
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02-26-2021, 04:08 PM #30
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,924
About AmeriMerchant
Founded in 2002, AmeriMerchant is one of the nation’s oldest and largest providers of working capital to merchants against their future credit/debit card sales, commonly known as a merchant cash advance. The company is committed to industry best practices and is a founding member of the North American Merchant Advance Association. For additional information about AmeriMerchant, visit www.amerimerchant.com or call 800-267-3790.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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02-26-2021, 05:23 PM #31
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 261
QuikStone was one of the few funders still collecting during the worst time of the pandemic. Yeah, the pace slowed down, but they were still getting something. QS only does splits, nothing else.. and they have been in the game a very long time and still going strong. Can't say that for most other funders in our space. Say what you want about splits/lockboxes, etc.. it freakin' works. Between QS and Rapid, my clients love it. Oh and I'm sure most of you are aware, that a merchant isn't supposed to have have 2 MID's legally (for the same type of transactions...they can have a separate one for online transactions). If VISA/MC discovers any impropriety, they can get blacklisted.. and won't be able to accept cc's for many years (unless they work through a broker type set-up, which will cost them a lot more).... Yes, some merchants don't care about this or aren't aware of it, but most do care.. Once they are blacklisted (added to the MATCH data base), they are prevented from opening a merchant account for 5 years.. ouch. So, while there is always a risk of a merchant "diverting" cc transactions to another POS/MID account.. it is quite low, as most business owners try to do the right thing.
(before i get attacked for this piece of info.. I am well aware that this is one of many reasons a merchant can be black listed.. so save your typing energy)..
As far as excessive overdrafts/neg days, I agree it's indicative of being broke.. but honestly in my experience for the last 13 years or so.. the merchants that have these types of problems, will always have them, no matter how good or bad they are doing.. it's almost a habit, to over spend and not keep track of things properly... Sound crazy.. but it's true.Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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02-26-2021, 05:55 PM #32
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,924
I don't expect you to understand a Closed Loop Peer to Peer Payment Platform (which has a US Patent)
For people that know & understand that a business owner cannot legally accept credit card for a Federally Illegal Product,
our solution is a great answer.
For individuals that may want a little info on a Closed Loop Payment System - this article provides the groundwork:
https://www.coincenter.org/the-case-...ectronic-cash/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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02-28-2021, 03:40 PM #33
- Join Date
- Feb 2017
- Posts
- 3,395
Some people just use the NSFs as a really expensive LOC. They pay overdraft fees, are allowed to go negative, get charged for it, but roll into the next day. I think it's super stupid to run a business like that, but I have a merchant working on his 4th renewal now with Quikstone.
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01-12-2022, 03:25 PM #34
- Join Date
- Jan 2019
- Posts
- 117
This is an old thread but had to chime in. I had a restaurant that was negative every day for three months. Couldn't get him funded anywhere. I got funded 48k by either simply or simpli cart remember which. Lightning fast
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