I really hate to make this post. But I will start off by saying we have worked with Ryan & SBL Funding for some time now and it has always been a great experience up until now. We have successfully funded about $2.5M in MCA's with them in the last 90 days or so. We have also participated in syndication on multiple deals with them, some we have originated, and others that we did not. We've made a nice amount of money with SBL in both commissions and this participation and it has been a fantastic business relationship all in all, until now.

It all started with a file we funded through SBL with them acting in a Super Broker capacity the end of September. Everything went smooth, deal funded and everyone was happy. Commission payment was to be paid by the Funder on 10/05 and SBL would transfer our commission on 10/06, again a scenario we've encountered with them many times and it always went perfect. However on this deal we were told there were some issues receiving the payment & they were working with the funder to get it resolved. No problem I said, let me know if I can help. This issue continues to go unresolved and on 10/26 I decided it was necessary for me to step in and reach out to the funder directly and identify the problem. The Funder immediately contacted me, and went above and beyond to prove they had done everything as described and commission was paid on time. They went as far as to do a screenshare with me showing the payment leaving their account and never being returned. So the obvious next step was to ask SBL to share a MTD or their online banking to verify the payment had not been received into the account it was sent to. Since requesting this on 10/26 they have been unable to provide any verification.

With these issues taking place, I decided not to participate in a renewal that was coming up this week, and requested the RTR be sent back. They have also been unable to send a payment for this participation money. We are currently in a handful of deals with them so we've got a little chunk of money sitting back with them that it looks like we will be struggling to reclaim.

We have sent a demand for payment & had our attorney write up the complaint to be filed in court and shared it with them with the hope that we can resolve this without litigation. But I personally feel it would not be fair to others in this industry to keep this situation silent now and potentially risk others losing like we have.

I have the paper trail on everything I have described, and if anyone is experiencing a similar situation you can feel free to reach out.