[brokerplus]

Has anyone ever heard of this shop? I spoke to a merchant who said they were working with Sal and Lou at Westwood funding. The merchant needed 125k for a new project and already had 2 positions. He was very open with the fact that he couldn't currently afford his daily payments yet was actively seeking a consolidation. He then proceeded to tell me that Sal told him they could facilitate a 3rd for 75k, then soon afterward have an attorney's review their 3 contracts which typically results in a 50-75% payment reduction for all of their daily payment advances. This is disgusting. I advised the merchant to pay down their advances or use the reconciliation clause in their contract if they had to. He didn't even know what I meant by reconciliation clause. I'm aware this type of nonsense is happening all the time, but it floors me to see something this blatant. If any funding companies or lenders are working with this group BEWARE!

Dominick at Westwood has been in the space for a while and is a great stand up guy. These allegations surprise me.