[zalman]

I read through the document and it seems like it was either a Reverse Or a Flex deal that went bad. It seems like the merchants took funding that was supposed to be paid out over time and then the installment payments weren't made to them. If I had to guess, I'd say that these merchants breached their agreements by taking more funding or stopping to pay. This would generally allow the funder to stop sending the weekly disbursement or the next chunk of the flex while still collecting on the agreement...

I'm sure it's a lot more complex than the government wants to make it seem.

[Russell]

I read through the document and it seems like it was either a Reverse Or a Flex deal that went bad. It seems like the merchants took funding that was supposed to be paid out over time and then the installment payments weren't made to them. If I had to guess, I'd say that these merchants breached their agreements by taking more funding or stopping to pay. This would generally allow the funder to stop sending the weekly disbursement or the next chunk of the flex while still collecting on the agreement...

I'm sure it's a lot more complex than the government wants to make it seem.

zalman, ive had many merchants who were scammed by blue ribbon where they promised them a loc or term loan at crazy low rates in return for taking a terrible mca at crazy fees and some merchants who just sent blue ribbon money or who just had money debited from their accounts without even getting funding, they def deserve this