Results 1 to 11 of 11
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09-01-2022, 02:41 PM #1
- Join Date
- Feb 2018
- Posts
- 1,349
6.2M Loss
anyone know which GA based funder took the 6.2M loss by a racket of fake no asset companies?
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09-01-2022, 02:56 PM #2
- Join Date
- Dec 2021
- Posts
- 637
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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09-01-2022, 02:57 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
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
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09-01-2022, 02:57 PM #4
- Join Date
- Oct 2021
- Posts
- 86
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09-01-2022, 03:02 PM #5
- Join Date
- Nov 2018
- Posts
- 2
Long but interesting read:
https://storage.courtlistener.com/re...2169.1.0_1.pdf
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09-01-2022, 03:36 PM #6
- Join Date
- Jun 2015
- Posts
- 3,325
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09-01-2022, 04:13 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
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
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09-01-2022, 04:53 PM #8
- Join Date
- Jun 2015
- Posts
- 3,325
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09-01-2022, 05:13 PM #9
- Join Date
- Nov 2019
- Posts
- 683
I do feel bad for the funder and **** like that happens to often but they technically were asking for it and other other funder that that happens to. I see iso reps boasting they they do not ask for any stips to fund. All is required is a one page application 3 months bank statements and a soft pull for an offer. Then to fund the deal a drivers licenses and voided check. Knowing that there is a lot of fraud out there with merchants and the brokers especially since covid where people defrauded the government on these edil and ppp loans why wouldn't they do that to our industry. For these funders not ask for a lot more stips especially on a deal that size.
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09-01-2022, 05:25 PM #10
- Join Date
- Oct 2021
- Posts
- 86
It seems like you are one of the new guys that dont really knows the business. The idea is to fund so much that the profits cover the losses. No need to feel bad I am sure they will get out of it and outfund everyone next month. We still need to bail out ebf,forward,deltabridge,ondeck,moneywell,rdm,manti s,rapid on this big consolidation in the deal bin. There is 600k balance there, dont give us cold feet.
Keep sending the files to subs@fruitssaladcapital.com prior defaults? No problem
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09-02-2022, 09:29 AM #11
- Join Date
- Aug 2019
- Location
- Recently un-retired, "shocked" that nothing has changed.
- Posts
- 116
Exactly why I stopped funding in Cali a few years back.
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