Who funds defaults?
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  1. #1
    Senior Member Reputation points: 78900 Olderguy's Avatar
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    Quote Originally Posted by abfunders View Post
    Steve:

    Or get reputable funders and fund deals that you won't get screwed over by. We're dealing with people's livelihood over here. When you get a merchant netting $500 on a $50000 deal and promises of a $2mm LOC after 10 payments (why do they still fall for this?), or your new agent who just started is excited about his first deal and $500 and it gets killed just to be backdoored? What about if you say "take this deal, it's better" just to find out you connected your merchants with true crooks? As brokers we have RESPONSIBILITY, and you should just throw it all at the wall and see what sticks.

    What "MAJOR" lenders are you referring to? It's probably because you didn't do DD to realize that they were just a broker and lied to you. Just because you don't know doesn't mean that the rest of us don't know.

    And that the $1.3mm funding was really $50,000 over all 7 deals that all got "killed in UW", but was really a scam and they presented them with LOC offers and scammed them more.
    They were all EIDL's $150,000 each and could only get paid after funded.
    Last edited by Olderguy; 02-02-2022 at 12:22 PM.
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  2. #2
    Senior Member Reputation points: 341293
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    Quote Originally Posted by Olderguy View Post
    They were all EIDL's $150,000 each and could only get paid after funded.
    Any broker that spent time peddling PPP and EIDL expecting to make a fortune or actually get paid by the likes of some finance companies promoting the products..... Erik Estrada has some "prime" real estate he would like to sell you.........
    Last edited by Kevin Henry-Seacoast; 02-03-2022 at 12:32 PM.
    Kevin Henry
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  3. #3
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
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    Quote Originally Posted by Hedley Lamarr View Post
    Any broker that spent time peddling PPP and EIDL expecting to make a fortune or actually gat paid by the likes of some finance companies promoting the products..... Erik Estrada has some "prime" real estate he would like to sell you.........
    Comes with a free gas station pizza. LMAO
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