Who funds defaults?
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  1. #1

    Who funds defaults?

    Trucking, making 400K+/Month

    Past Default, owes 20K and some change

  2. #2
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    Quote Originally Posted by jjrouss View Post
    Trucking, making 400K+/Month

    Past Default, owes 20K and some change
    We fund previous defaults but it has to be paid off or in an active payment plan.
    East Shore Equities, LLC
    Tel: (516) 784-4298 | Fax: (516) 231-5590
    www.EastShoreEquities.com

  3. #3
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    try United Fund, Hybrid Advance
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  4. #4
    Quote Originally Posted by Olderguy View Post
    try United Fund, Hybrid Advance
    Lol commission will "default" as well with these "funders"

  5. #5
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    Quote Originally Posted by mcaexplainer View Post
    Lol commission will "default" as well with these "funders"
    I don't care about that. If a client gets funded, good enough.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  6. #6
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    Quote Originally Posted by Olderguy View Post
    I don't care about that. If a client gets funded, good enough.
    That
    s the dumbest thing I think I ever heard. Why would he go to a place that plays with commission?

  7. #7
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    Quote Originally Posted by FunderFunding View Post
    That
    s the dumbest thing I think I ever heard. Why would he go to a place that plays with commission?
    Maybe because I don't make decisions on how many points I get or how much money is in it for me...just want to help clients.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  8. #8
    Hi,

    We fund defaults, merchants with open judgments, and merchants that have up to 16th position.

    Give me a call at 786-237-7951, I will explain the rehab program that we offer for these types of merchants.

    We are located in Miami, if you are around we can meet up for coffee or in the office.

    Let me know!


    Maria J. Koval
    ISO Department
    iso@wgfinancinginc.com
    WGFinancinginc.com
    786-237-7951
    Helping Merchants to stay in business...

  9. #9
    Quote Originally Posted by WG Financing ISO Dept View Post
    Hi,

    We fund defaults, merchants with open judgments, and merchants that have up to 16th position.

    Give me a call at 786-237-7951, I will explain the rehab program that we offer for these types of merchants.

    We are located in Miami, if you are around we can meet up for coffee or in the office.

    Let me know!


    Maria J. Koval
    ISO Department
    iso@wgfinancinginc.com
    WGFinancinginc.com
    786-237-7951
    Helping Merchants to stay in business...
    Didn't your boyfriend Cy **** over his bank line over 4-5 years ago. You guys are just super brokering.

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    Quote Originally Posted by SStern22 View Post
    Didn't your boyfriend Cy **** over his bank line over 4-5 years ago. You guys are just super brokering.
    Cyril is the owner of WG Financing Inc in Florida, read up more here: https://debanked.com/2018/12/defunct...n-of-judgment/

  11. #11
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    Quote Originally Posted by abfunders View Post
    Cyril is the owner of WG Financing Inc in Florida, read up more here: https://debanked.com/2018/12/defunct...n-of-judgment/
    I knew that there was another thread about WG Financing Inc. It didn't go so well for WG.... https://dailyfunder.com/showthread.p...he-banks/page2

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    Steve, are you so naïve to think that if the funder won't pay commissions that they're going to do right by the merchant also and not overcharge him, bait and switch, promise term loans or LOCs, slap on UCCs and refuse to release them, and hold his business hostage when they overcharge him and file suit against them in the NY courts systems? Just because you saw them advertising on DF doesn't mean that they are any good. Our job as brokers is to bring our merchants to people who will be a good relationship for the clients, not just "get your funding here". We're talking about peoples lives here. Hybrid/World Global Fund/MNS/Brickstone/Safe Vault.... look them up on the NY court systems and see who's in charge and which side of the lawsuits they're on.

  13. #13
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    Quote Originally Posted by abfunders View Post
    Steve, are you so naïve to think that if the funder won't pay commissions that they're going to do right by the merchant also and not overcharge him, bait and switch, promise term loans or LOCs, slap on UCCs and refuse to release them, and hold his business hostage when they overcharge him and file suit against them in the NY courts systems? Just because you saw them advertising on DF doesn't mean that they are any good. Our job as brokers is to bring our merchants to people who will be a good relationship for the clients, not just "get your funding here". We're talking about peoples lives here. Hybrid/World Global Fund/MNS/Brickstone/Safe Vault.... look them up on the NY court systems and see who's in charge and which side of the lawsuits they're on.
    Micah:

    I see your point but I can't chase every lender's history....I recognize there will always be a percentage that will "screw' people and it's just part of this industry's business model. I have had MAJOR lenders on this site "screw" me out of tens of thousands of dollars. 7 deals $1.3M and ended up with $2,500 commission 4 months later. It is what is it. It's the scorpion on the frog situation. If you can't take the heat, remove thyself from the kitchen.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  14. #14
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    Quote Originally Posted by Olderguy View Post
    Micah:

    I see your point but I can't chase every lender's history....I recognize there will always be a percentage that will "screw' people and it's just part of this industry's business model. I have had MAJOR lenders on this site "screw" me out of tens of thousands of dollars. 7 deals $1.3M and ended up with $2,500 commission 4 months later. It is what is it. It's the scorpion on the frog situation. If you can't take the heat, remove thyself from the kitchen.
    No shot any major funder would screw you out of commission. I believe you were screwed out of commission but it was by a major funder. If you funded 1.3mm and only received $2,500, then you do not understand how to source funders and really do not understand this industry. Actually, funding 1.3mm and only receiving $2,500 is comical as hell lmao

  15. #15
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    Quote Originally Posted by mistamca View Post
    No shot any major funder would screw you out of commission. I believe you were screwed out of commission but it was by a major funder. If you funded 1.3mm and only received $2,500, then you do not understand how to source funders and really do not understand this industry. Actually, funding 1.3mm and only receiving $2,500 is comical as hell lmao
    Buddies of the owner of my former company...They are "good guys" he said ..Owner of major lender and all his brothers........It is what it is....
    Last edited by Olderguy; 02-02-2022 at 12:36 PM.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

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    Quote Originally Posted by Olderguy View Post
    Buddies of the owner of my former company...They are "good guys"...Owner of major lender and all his brothers........It is what it is....
    I think that they paid your owner, and your ex-boss screwed you.

  17. #17
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    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.

  18. #18
    Senior Member Reputation points: 73139 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.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  19. #19
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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
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426

  20. #20
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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
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  21. #21
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    Steve sends default deals to Hybrid and United AND then he sends to these guys: https://dailyfunder.com/showthread.p...l=1#post161105

  22. #22
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    Quote Originally Posted by abfunders View Post
    Steve sends default deals to Hybrid and United AND then he sends to these guys: https://dailyfunder.com/showthread.p...l=1#post161105
    Bro...I never have used them....a reliable colleague has and vouched for then...and it was a referral...
    Last edited by Olderguy; 02-02-2022 at 12:22 PM.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  23. #23
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    Quote Originally Posted by Olderguy View Post
    Bro...I never have used them....a reliable colleague has and vouched for then...and it was a referral...
    You said you used Hybrid and United on another thread ($5000 offer from one, $3000 from another), and then on this thread I linked you said "Try him, tell him I sent you..."

  24. #24
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    Quote Originally Posted by abfunders View Post
    You said you used Hybrid and United on another thread ($5000 offer from one, $3000 from another), and then on this thread I linked you said "Try him, tell him I sent you..."
    Doesn't mean I used them as it was a referral. My colleague did vouch for him and I did talk to him too (Kevin) before the referral. Personally I don't like these types of deals but the choice is up to the client and broker involved. As I have made clear, if you need more than a 2nd position, close the account and start over Throwing good money after bad doesn't make sense.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  25. #25
    To be a real funder and default on 5M is embarrassing. Whoever wants to do business with these people by all means.......

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