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  1. #1

    Rocket funding

    who are they
    Last edited by Showmethemoney; 11-09-2021 at 03:23 PM.

  2. #2
    Big red flag here

  3. #3
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    Rockets fly fast don’t they

  4. #4
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    Quote Originally Posted by MCAFORDUMMIES View Post
    They're the same peoples as Lego and tick tock -
    Promising merchants millions of dollars in funding "after" they pay off the 1.49 10 day deal.

    Hillel back at work...
    who are they ? lego straight up took an A merchant gave him docs for 800k 30 years loan with him having to take 30k pay back 60k for 10 days then ghosted him.

  5. #5
    Yea this doesn't sound good.

  6. #6
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    Quote Originally Posted by Michael I View Post
    who are they ? lego straight up took an A merchant gave him docs for 800k 30 years loan with him having to take 30k pay back 60k for 10 days then ghosted him.
    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

  7. #7
    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.

  8. #8
    Welcome to the WILD WEST ! see this 10 times a day

  9. #9
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    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

  10. #10
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    Quote Originally Posted by BROKER TIME View Post
    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
    Actually, some of us don't need to commit fraud to make money in this industry

  11. #11
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    Quote Originally Posted by mistamca View Post
    Actually, some of us don't need to commit fraud to make money in this industry
    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

  12. #12
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    Quote Originally Posted by BROKER TIME View Post
    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
    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.

  13. #13
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    Quote Originally Posted by BROKER TIME View Post
    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
    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.

  14. #14
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    Quote Originally Posted by mistamca View Post
    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.
    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.

  15. #15
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    Quote Originally Posted by abfunders View Post
    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.
    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

  16. #16
    Interesting...

  17. #17
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    Quote Originally Posted by abfunders View Post
    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.


    MistaMCA has a lot of surprisingly good ideas.
















    ww.UCCRadar.com

  18. #18
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    Quote Originally Posted by abfunders View Post
    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.
    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.

  19. #19
    and the plot thickens...

  20. #20
    1st post. yes rocket debits as coast to coast they are bad news.

  21. #21
    Quote Originally Posted by mistamca View Post
    Actually, some of us don't need to commit fraud to make money in this industry
    Bravo! Agreed! No need to lie, cheat and sacrifice your integrity for any amount of money. NO THANKS!! I'd rather make nothing and be able to look myself in the mirror and my kids and grandkids in their eyes, knowing that I didn't screw a soul.
    Courtney Smith
    Fairfax Funding, LLC
    PH: 407-706-8600
    www.FairfaxFunding.com
    csmith@fairfaxfunding.com

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