[Adam2326]

To put things in perspective here is what we are owed in total:

$7,000 Commission on Funded MCA
$4,588 in participation money for MCA's Paid In Full last month
$11,195 Right To Receive from MCA participation
$4,905.48 Commission on Funded MCA
TOTAL $27,688.48

Now the issue I also have with this situation is our Syndication numbers are as follows: Average Factor 1.52, Average Term 1.9 Months So simply the $7,000 commission being 30 days late cost us $1,820. Not to mention everything else... As this continues to drag out the loss continues to compound further. Not to mention the time wasted on the situation, the demoralization of the sales rep etc.

[RickyR3712]

To put things in perspective here is what we are owed in total:

$7,000 Commission on Funded MCA
$4,588 in participation money for MCA's Paid In Full last month
$11,195 Right To Receive from MCA participation
$4,905.48 Commission on Funded MCA
TOTAL $27,688.48

Now the issue I also have with this situation is our Syndication numbers are as follows: Average Factor 1.52, Average Term 1.9 Months So simply the $7,000 commission being 30 days late cost us $1,820. Not to mention everything else... As this continues to drag out the loss continues to compound further. Not to mention the time wasted on the situation, the demoralization of the sales rep etc.

The biggest crooks in this industry that will backdoor ,steal and not pay commissions etc. Do NOT mess with syndication because that is jail time. Ryan if you are not an owner do not walk RUN

[Michael I]

The biggest crooks in this industry that will backdoor ,steal and not pay commissions etc. Do NOT mess with syndication because that is jail time. Ryan if you are not an owner do not walk RUN

ricky is right , not paying a commission is one thing.not paying syndication is a whole lot worse from a legal standpoint

[Adam2326]

ricky is right , not paying a commission is one thing.not paying syndication is a whole lot worse from a legal standpoint

Agreed. And it was not until syndication funds weren't being paid out that any of this went public...

[killerspin]

To put things in perspective here is what we are owed in total:

$7,000 Commission on Funded MCA
$4,588 in participation money for MCA's Paid In Full last month
$11,195 Right To Receive from MCA participation
$4,905.48 Commission on Funded MCA
TOTAL $27,688.48

Now the issue I also have with this situation is our Syndication numbers are as follows: Average Factor 1.52, Average Term 1.9 Months So simply the $7,000 commission being 30 days late cost us $1,820. Not to mention everything else... As this continues to drag out the loss continues to compound further. Not to mention the time wasted on the situation, the demoralization of the sales rep etc.

Just an outside perspective here but if those are the types of deals you are funding with them then it’s safe to say your money is bye bye. The defaults caught up with them. 1.50 40 day deals don’t last forever.

On a side note if they can’t pay you 27k in commissions then idk what they use to fund deals. The well is dry.

[Adam2326]

Just an outside perspective here but if those are the types of deals you are funding with them then it’s safe to say your money is bye bye. The defaults caught up with them. 1.50 40 day deals don’t last forever.

On a side note if they can’t pay you 27k in commissions then idk what they use to fund deals. The well is dry.

I appreciate the insight and I can agree with you to an extent. In all of the years I've been involved in MCA the only deals I've ever had success with have been these kinds of high risk deals. The A-B paper 9-12 month deals I've participated in had a much higher default rate due to stacking etc The shorter term deals have always outperformed the "Lower Risk" deals in my book. Of the syndication we've done with SBL only 1 deal missed any payments and negotiated a reduced payment, and has been making good on those payments. So I can appreciate that defaults take place especially in high risk deals, but when it's not my deals defaulting it's not my problem. At least it should not be.

[aak723]

it is sad that there are other brokers finding this post funny. $7K isn't a trivial sum. Neither is $29K or any of the other deals where commissions/syndicate funds are owed.
A lender is stiffing commissions yet continuing to solicit business. To mention that, no matter what the tone (and of course it's going to be in an upsetting one given that nearly a month of expenses are now gone) isn't unprofessional.