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04-20-2021, 03:27 PM #1
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- Join Date
- Nov 2014
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When Merchants fight back .... $50Mill Counter lawsuit with Funding Circle USA
Well very Interesting case here , One of my Accounts got a large Advance from Funding Circle not originated by us though and just like a lot of businesses during the Pandemic and this small business borrower’s merchants health issues they had a rough time but proactively structured a payment plan in place. Seems Funding Circle intentionally went off the agreed terms at top brass orders and crossed all lines. Its very well known how a lot of MCA / business Loan lenders will use not proper collection systems and harass merchants ,bash their credit, call their clients or anyone possible to make their life a living hell . We all know that MCA’s / business Loans have such high Rates and Short terms due fact Risk for lenders is very High and a certain default ratio is expected . FC does not consider themselves a MCA lender, yet what they did to this borrower went to a place even MCA’s would not go. This borrower decided to fight back. HEALTHYMOUTH LLC counter sued Funding Circle USA and Marketplace for $50 Million Dollars in Damages . The Borrower is a highly respected businesswoman from California and a former Attorney as well. I am very Interested on seeing how all this pans out and the Lawsuit evolves .
For a reference and for anyone that’s interested on the case below is a dropbox link direct from the Law Firm that Represents the borrower with a copy of the complaint .
The Suit Case No is 20SMCV01013 Filed 4/13/2021 between HealthyMouth LLC and Funding Circle Marketplace LLC / Funding Circle USA which is how Funding Circle conducts business
Copy of Complaint Link:
https://www.dropbox.com/sh/mqae1vuku...bh7O3C2ta?dl=0
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