Results 1 to 21 of 21
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10-25-2021, 02:39 PM #1
- Join Date
- May 2018
- Posts
- 158
Rocket funding
who are they
Last edited by Showmethemoney; 11-09-2021 at 03:23 PM.
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10-26-2021, 01:06 PM #2
- Join Date
- Apr 2019
- Posts
- 41
Big red flag here
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10-26-2021, 07:46 PM #3
- Join Date
- Jun 2015
- Posts
- 754
Rockets fly fast don’t they
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11-09-2021, 03:22 PM #4
- Join Date
- Jun 2015
- Posts
- 3,325
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11-09-2021, 03:32 PM #5
- Join Date
- Oct 2014
- Posts
- 27
Yea this doesn't sound good.
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11-09-2021, 03:49 PM #6
- Join Date
- Apr 2018
- Location
- Aspen, Co
- Posts
- 30
They're all connected to a woman that goes by "JADE". (jade@pinnaclefundinggrp.com)
Phone number for her is 310-596-6660 - have fun.
Warn your merchants not to do any business with her or the guys she's working with/for.
Attached is a sample of what she sends out.
Capture.JPG
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11-09-2021, 06:05 PM #7
- Join Date
- Apr 2021
- Posts
- 27
i was working with a merchant today who dealt with the same issue, This one is actually much worse.
They have been pulling daily payments from this merchant for a few days and the didnt even fund the merchant! They had to put a stop payment on them.
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11-09-2021, 06:10 PM #8
- Join Date
- May 2018
- Posts
- 158
Welcome to the WILD WEST ! see this 10 times a day
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11-10-2021, 09:57 AM #9
- Join Date
- Jun 2018
- Posts
- 462
you all are so funny calling out people because of this.
you make it like you guys haven't promised the merchants the moon the stars and your first born to close a 5k deal
it is what it is there are some bad eggs just move on to the next deal and close it
on a better note its HUMP DAY
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11-10-2021, 10:07 AM #10
- Join Date
- Feb 2019
- Posts
- 209
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11-10-2021, 10:36 AM #11
- Join Date
- Jun 2018
- Posts
- 462
so your saying you or anyone at the place your work at never told told a merchant something you knew not to be true?
paaaaleeeease
your all saints until you get caught
not defending sending out 2 contracts .. but just pointing out that everyone here make it like their **** dont stink
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11-10-2021, 11:08 AM #12
- Join Date
- Feb 2017
- Posts
- 3,450
I have never lied to a merchant, especially about the funding amounts/fees. Never done a bait and switch either. Unfortunately, a few brokers who I worked with did lie to the merchants (after funding taking fees and claiming the funder will refund them, taking up-front fees for equity deals, etc), and I had to cut them off when I found out about it.
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11-10-2021, 11:26 AM #13
- Join Date
- Feb 2019
- Posts
- 209
No I have never committed fraud nor do I plan to lol. Has fraud happened at my company before? Yes, which is why every sales rep signs a 1 page contract per funding that has some very aggressive conditions, and every bit of communication is recorded and they are not allowed to give out personal numbers to anyone.
This is also why I am big on regulating this industry.
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11-10-2021, 11:31 AM #14
- Join Date
- Feb 2017
- Posts
- 3,450
Wow, that's a great idea mistamca. Can you please make public your contract? Throw it up on a Google Doc and anonymize it if you want. I think it would help A LOT of people. I'd love to throw it onto my SignNow as a template and just use it myself for my sub-brokers.
Personally, I created a sub-broker clause that tells the ISOs who I work with not to charge extra fees without telling me, but that's as far as it goes. I'd love a slightly more thorough one.
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11-10-2021, 01:11 PM #15
It's things like that that make it hard to simply feel that "it is what it is"
Individuals that deceive Merchants like that need to be held accountable. It's that bad apple that gets picked by the wrong hand that will assume all apples will be the same, when clearly that's not true.The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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11-13-2021, 05:12 PM #16
- Join Date
- Feb 2021
- Posts
- 5
Interesting...
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11-13-2021, 07:34 PM #17
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 592
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11-15-2021, 09:45 PM #18
- Join Date
- Feb 2019
- Posts
- 209
I am happy to share the general structure. This is only for MCA products. When I am dealing with SBA products, fraud is a lot more limited from the brokering side.
Here is the structure of the agreement; XXX reflects a custom variable or privacy // I copied and pasted most information from my document aside from some legalese, design element, and "personal pet peeves".
Deal ID: XXX
Offer ID: XXX
Funder ID: XXX
Offer Amount: XXX
Buy Rate: XXX
Sell Rate: XXX
Through submission of this offer, you agree to the following:
1. You have presented this offer in its entirety and have not promised anything in excess of XXX term with XXX rate and XXX payback
2. You have not promised that this agreement will allow an extension to any other offer.
3. You have not promised that this is a bank loan
4. You have not promised that there is a bank loan available if this offer is executed
5. You have not promised that there is a refinance opportunity available until they have completed XXX% of their term
6. You have not promised that they do not need to pay back the full Right to Receive
7. You have not promised that a lien will not be filed on the company in question
8. You have not promised that this is a no-interest loan
9. You have not promised that you will be able to provide additional capital within XXX days
10. You have not promised that there is another offer available after they agree to the offer #-XXX in question
Currently, your account has a commission balance of XXX prior to this deal. With the addition of this deal, your projected commission balance will be XXX.
IF ANY LEGAL MATTERS OCCUR IN THE DEAL MENTIONED ABOVE OR ANY PAST DEALS INTRODUCED THROUGH YOUR EFFORTS AS DOCUMENTED THROUGH DOCUMENT #XXX, THEN YOU AGREE THAT YOUR ENTIRE COMMISSION ACCOUNT WILL BE FROZEN UNTIL THERE IS RESOLUTION AND ANY DAMAGES THAT OCCURRED FROM THIS DEAL WILL BE PAID FROM YOUR COMMISSION ACCOUNT PRIOR TO ANY COMMISSION PAYMENTS.
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11-30-2021, 08:44 PM #19
- Join Date
- Feb 2021
- Posts
- 5
and the plot thickens...
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01-26-2022, 06:40 PM #20
- Join Date
- Jan 2022
- Posts
- 1
1st post. yes rocket debits as coast to coast they are bad news.
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03-01-2022, 01:55 PM #21
- Join Date
- Mar 2016
- Posts
- 47
Courtney Smith
Fairfax Funding, LLC
PH: 407-706-8600
www.FairfaxFunding.com
csmith@fairfaxfunding.com
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