[ryan $]

Is it just me.... Or has everyone else been seeing quite a few Business that literally have No Revenue except SBA Treasury, and PPP loan deposits.

It's like a whole bunch of fraudulent people got money by scamming the government and then trickled down to our Industry somehow (most likely submitted somewhere that brokers SBA PPPs and MCAs) and when we call asking if they need money they just keep going with the Scam. Had one file today, 200k, 100k and another 200k, one big deposit in each Monthly Statement followed by nothing but transfers out. No Payroll,No expenses besides Normy account usage like Restaurants, and other Purchases.

[Brokering]

LOL, we get these all day, newbie reps bragging in the office that they're getting high rev files before actually reading the banks...….

[Max Upsell]

Is it just me.... Or has everyone else been seeing quite a few Business that literally have No Revenue except SBA Treasury, and PPP loan deposits.

It's like a whole bunch of fraudulent people got money by scamming the government and then trickled down to our Industry somehow (most likely submitted somewhere that brokers SBA PPPs and MCAs) and when we call asking if they need money they just keep going with the Scam. Had one file today, 200k, 100k and another 200k, one big deposit in each Monthly Statement followed by nothing but transfers out. No Payroll,No expenses besides Normy account usage like Restaurants, and other Purchases.

No one escapes the long dick of the law

[fundingsmbs]

there were a bunch of scammers with PPP. Wouldn't be surprising to see any of that trickle to MCA.

[ryan $]

Just got I think the WORST one I've seen.

11 Positions, all stacked last Month. Reverses in 2 Accounts.

Kept paying Bridge, and Fundbox (Not Sure why) - But stopped Bridge payments a few days ago (well you cant see a stop, they just vanish)