[Thegoodbroker]

is Banana Funding Group same as Banana exchange the MCA line of credit for MCA funders.

I'am starting to Banana Fudning Group in merchants banks funding and debiting.

i wonder if they are funding MCA funder just to gather mca leads of good fundable deals and then fund them later.

[Amite]

I work there. Banana Exchange is the operations arm of Banana Funding Group so it's the same company basically.
We don't fund merchants and have no incentive to do so. Most of our MCA clients have been with for years and no one would have stayed a second if they had seen us funding one of their merchants (pretty easy to notice), or any merchant for that matter.

[SFC]

I work there. Banana Exchange is the operations arm of Banana Funding Group so it's the same company basically.
We don't fund merchants and have no incentive to do so. Most of our MCA clients have been with for years and no one would have stayed a second if they had seen us funding one of their merchants (pretty easy to notice), or any merchant for that matter.

Yup I can attest to that. They don't backdoor and would be pretty dumb to do so considering they are almost fully insulated from any merchant risk.

Great product if it suits you.

[ryan $]

I work there. Banana Exchange is the operations arm of Banana Funding Group so it's the same company basically.
We don't fund merchants and have no incentive to do so. Most of our MCA clients have been with for years and no one would have stayed a second if they had seen us funding one of their merchants (pretty easy to notice), or any merchant for that matter.

But.... the first post, said that Banana Funding Group has been in Merchant Statements, Funding and then debiting....

[Amite]

But.... the first post, said that Banana Funding Group has been in Merchant Statements, Funding and then debiting....

We never funded / credited a merchant - please recheck that. You may have seen us debiting merchants and here is why - when we fund an MCA, we have a right to collect their receivables if the MCA defaults on us. So far, none have defaulted and we have never exercised this right, but we are set up to do so should the rare event occur. There are two possible set ups:
1. We sign a tri-party agreement with the MCA and its ACH provider, giving us the right to redirect the ACH collections to our bank account if the MCA defaults.
2. OR the MCA allows us to collect in their place and we forward the amounts to their account at the end of each day. Under this setup, if the MCA defaults, we just stop forwarding.

Our MCA clients rarely choose the second option, but if they do - their merchants will see Banana Funding Group debit their account each day. We are now changing this practice to reduce confusion. Bottom line - these are not merchants we funded, nor have ever communicated with.

[ryan $]

We never funded / credited a merchant - please recheck that. You may have seen us debiting merchants and here is why - when we fund an MCA, we have a right to collect their receivables if the MCA defaults on us. So far, none have defaulted and we have never exercised this right, but we are set up to do so should the rare event occur. There are two possible set ups:
1. We sign a tri-party agreement with the MCA and its ACH provider, giving us the right to redirect the ACH collections to our bank account if the MCA defaults.
2. OR the MCA allows us to collect in their place and we forward the amounts to their account at the end of each day. Under this setup, if the MCA defaults, we just stop forwarding.

Our MCA clients rarely choose the second option, but if they do - their merchants will see Banana Funding Group debit their account each day. We are now changing this practice to reduce confusion. Bottom line - these are not merchants we funded, nor have ever communicated with.

So then i would ask....goodbroker, you sure you didnt just see only debits?