Thoughts on current collections / default rate?
Need a Funder or Vendor? START HERE

Page 1 of 2 12 LastLast
Results 1 to 25 of 37

Hybrid View

  1. #1

    Thoughts on current collections / default rate?

    This guy seems pretty passionate about it...

    https://www.youtube.com/watch?v=nnCnT7fzLWA

  2. #2
    Senior Member Reputation points: 73821 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,288

    Take money from a loan shark. If you can't pay, Guido will come for you.
    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.

  3. #3
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
    Join Date
    Nov 2018
    Location
    South Florida
    Posts
    745

    Quote Originally Posted by Olderguy View Post
    Take money from a loan shark. If you can't pay, Guido will come for you.
    It's Gino, not Guido.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  4. #4
    Senior Member Reputation points: 52185 ADiamond's Avatar
    Join Date
    Apr 2014
    Location
    New York City
    Posts
    891

    Quote Originally Posted by ghost View Post
    This guy seems pretty passionate about it...

    https://www.youtube.com/watch?v=nnCnT7fzLWA
    God, this kid is the biggest tool.

    He somehow appears in my instagram feed and it's so obvious that he came from the sewer like most ISO reps, and knows nothing important and does not even want to try and learn to be better.

    He's constantly going on about pitching toxic-structured sub-25k-50k sized deals to low revenue and high risk merchants...

    He's obviously slow, in the way he speaks. Now this video confirms how slow. His social media is aimed at trying to "teach" new people about MCA sales which is really a toxic thing to do altogether (advertising the industry to more and more new inexperienced, uneducated people to mass-force-sell sub prime deals.) So here he creates a video rant directed at merchants who default... that's good, I hope they see all his other content lol.

    Important life lesson @ 1:40 - "someone once told me, there's no shortcuts in life. just pay your cash advance." He doesn't even understand the structure of the contract he's selling or what a default truly is.

    Then he goes on to inform merchants subliminally how to default by "switching bank accts and LLCs" in this video.

    And somehow includes himself in "we" as if he's a funder.


    Love it, honestly. This type of **** is my biggest pet peeve and the worst side of the industry.

    I'm triggered.
    Anthony Diamond
    Underwriter

  5. #5
    Quote Originally Posted by ADiamond View Post
    God, this kid is the biggest tool.

    He somehow appears in my instagram feed and it's so obvious that he came from the sewer like most ISO reps, and knows nothing important and does not even want to try and learn to be better.

    He's constantly going on about pitching toxic-structured sub-25k-50k sized deals to low revenue and high risk merchants...

    He's obviously slow, in the way he speaks. Now this video confirms how slow. His social media is aimed at trying to "teach" new people about MCA sales which is really a toxic thing to do altogether (advertising the industry to more and more new inexperienced, uneducated people to mass-force-sell sub prime deals.) So here he creates a video rant directed at merchants who default... that's good, I hope they see all his other content lol.

    Important life lesson @ 1:40 - "someone once told me, there's no shortcuts in life. just pay your cash advance." He doesn't even understand the structure of the contract he's selling or what a default truly is.

    Then he goes on to inform merchants subliminally how to default by "switching bank accts and LLCs" in this video.

    And somehow includes himself in "we" as if he's a funder.


    Love it, honestly. This type of **** is my biggest pet peeve and the worst side of the industry.

    I'm triggered.
    This is the dark part of the industry. Hopefully it cleans up sooner than later !

  6. #6
    Senior Member Reputation points: 22609
    Join Date
    Dec 2019
    Posts
    158

    Quote Originally Posted by ADiamond View Post
    God, this kid is the biggest tool.

    He somehow appears in my instagram feed and it's so obvious that he came from the sewer like most ISO reps, and knows nothing important and does not even want to try and learn to be better.

    He's constantly going on about pitching toxic-structured sub-25k-50k sized deals to low revenue and high risk merchants...

    He's obviously slow, in the way he speaks. Now this video confirms how slow. His social media is aimed at trying to "teach" new people about MCA sales which is really a toxic thing to do altogether (advertising the industry to more and more new inexperienced, uneducated people to mass-force-sell sub prime deals.) So here he creates a video rant directed at merchants who default... that's good, I hope they see all his other content lol.

    Important life lesson @ 1:40 - "someone once told me, there's no shortcuts in life. just pay your cash advance." He doesn't even understand the structure of the contract he's selling or what a default truly is.

    Then he goes on to inform merchants subliminally how to default by "switching bank accts and LLCs" in this video.

    And somehow includes himself in "we" as if he's a funder.


    Love it, honestly. This type of **** is my biggest pet peeve and the worst side of the industry.

    I'm triggered.
    This video is incredible lol
    Thank you,

    Joseph Vaknen
    Business Development
    SuperFastCap


    Direct: (646) 546-3866 (Text or Call)
    E-mail: Joe@superfastcap.com
    www.superfastcap.com

  7. #7
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
    Join Date
    Nov 2018
    Location
    South Florida
    Posts
    745

    Quote Originally Posted by SuperFastJoe View Post
    This video is incredible lol
    If I can add a suggestion here.

    Let's put him and Bob Marin from Mom & Pop in a boxing match in the next Debanked Connect event (too late for Miami) Loser leaves town match.

    Dave can be the Referee, Don Magrath can be the commentator.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  8. #8
    Senior Member Reputation points: 31817
    Join Date
    Jul 2015
    Posts
    215

    Quote Originally Posted by BR-Nightmare View Post
    If I can add a suggestion here.

    Let's put him and Bob Marin from Mom & Pop in a boxing match in the next Debanked Connect event (too late for Miami) Loser leaves town match.

    Dave can be the Referee, Don Magrath can be the commentator.
    IF this actually happened I would go.

  9. #9
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
    Join Date
    Nov 2018
    Location
    South Florida
    Posts
    745

    Quote Originally Posted by Oxforddan View Post
    IF this actually happened I would go.
    Oh and no Marcus, Capybara can not sponsor it.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  10. #10
    Senior Member Reputation points: 58222
    Join Date
    Dec 2015
    Posts
    610

    Quote Originally Posted by BR-Nightmare View Post
    If I can add a suggestion here.

    Let's put him and Bob Marin from Mom & Pop in a boxing match in the next Debanked Connect event (too late for Miami) Loser leaves town match.

    Dave can be the Referee, Don Mcgrath can be the commentator.


    This is an EPIC suggestion Joey, I'm definitely in, as long as Sean meets my speaking engagement fees.


    Which Dave do you mean for Ref? ......can't be Yankeeman, he'll be doing security and running numbers for the shinebox crew.

  11. #11
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
    Join Date
    Nov 2018
    Location
    South Florida
    Posts
    745

    Quote Originally Posted by DonMcGrath View Post
    This is an EPIC suggestion Joey, I'm definitely in, as long as Sean meets my speaking engagement fees.


    Which Dave do you mean for Ref? ......can't be Yankeeman, he'll be doing security and running numbers for the shinebox crew.
    No no, That's for Hedley and Micah.

    The people want Yankeeman in the ring.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  12. #12
    There's a reason Funderhunt no longer submits to A, B, or even C funders. They all caught on to his antics and want nothing to do with them.

  13. #13
    Senior Member Reputation points: 44950
    Join Date
    Oct 2021
    Posts
    222

    Seems like he about to cry throughout the entire video yet pulls some shady **** when it comes to deals and dealing with funders and merchants. Amazing how bad his rep is.

  14. #14
    This guy is smoking something special

  15. #15
    Not sure who this is, but I feel sorry for him. Clawback can be a *****, especially when bigger deals default
    We specialize in funding:
    Deals w prior Defaults
    "Over Leveraged" deals
    All Positions (as long as there is space)
    Low FICO scores
    and all other "difficult" deals

    To submit a file or to request an ISO Agreement, kindly email underwriting@supremefunding.net.
    I look forward to hearing from you.

    Rasheed Miller
    (917) 933-3095 (text or call)
    https://supremefunding.net/

  16. #16
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
    Join Date
    Nov 2018
    Location
    South Florida
    Posts
    745

    Quote Originally Posted by ghost View Post
    This guy seems pretty passionate about it...

    https://www.youtube.com/watch?v=nnCnT7fzLWA
    Anything this young man says is to be taken with a grain of salt.

    Remember this is the same kid Sean took the time to potentially do a reality piece on, he made that disappear quick when he was met with backlash and saw his true colors.

    The kid tried something to get noticed, it worked. However, his true colors are exposed by the amount of actual funders that cut him off or wont touch him with a 10 ft pole.

    I know I am not alone when I say if I were to meet the kid, he's in for a rude verbal awakening.
    Last edited by BR-Nightmare; 12-28-2022 at 12:41 PM.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  17. #17
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
    Join Date
    Nov 2018
    Location
    South Florida
    Posts
    745

    Quote Originally Posted by joshbr9 View Post
    saw his true colors?? lol, no, they were well known AHEAD of time. He already had a reality show of his own with a bunch of videos that were getting views and someone wanted to capitalize on that attention.
    His own videos did not show us his stacking of Merchants, triple dipping PSF's, the deceiving of Funders and Merchants, ect.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  18. #18
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
    Join Date
    Aug 2012
    Location
    New York City
    Posts
    1,882

    Quote Originally Posted by BR-Nightmare View Post
    Remember this is the same kid Sean took the time to potentially do a reality piece on, he made that disappear quick when he was met with backlash and saw his true colors.

    The kid tried something to get noticed, it worked. However, his true colors are exposed by the amount of actual funders that cut him off or wont touch him with a 10 ft pole.
    Yes, I attempted to make a video series where I tried to teach someone who had a lot of ambition and passion for the camera on how to do things the right way; things you can do, can't do, things you can say, can't say, what he needed to fix, etc, and produced in such a way that a lot of other young people that may be making mistakes or didn't get proper training would find helpful and entertaining so that they'd actually watch it (getting people to care is the hardest part). However, this indeed received backlash.

    Unfortunately, some people find it more gratifying to point out people's mistakes than to make the efforts to change their ways. Or maybe it's believed that they can't change. I don't know. Apparently it was in bad taste for me to take on a challenge and try to reach many people that would benefit from it. He was willing to listen to my advice even if he didn't like it and there were funders that told me they valued his business.

    Some people said that I was trying to "cash in." I stood to make zero dollars from it. Anyways...
    Last edited by admin; 12-30-2022 at 12:08 PM.

  19. #19
    Senior Member Reputation points: 125088 BR-Nightmare's Avatar
    Join Date
    Nov 2018
    Location
    South Florida
    Posts
    745

    Quote Originally Posted by Sean Cash View Post
    Yes, I attempted to make a video series where I tried to teach someone who had a lot of ambition and passion for the camera on how to do things the right way; things you can do, can't do, things you can say, can't say, what he needed to fix, etc, and produced in such a way that a lot of other young people that may be making mistakes or didn't get proper training would find helpful and entertaining so that they'd actually watch it (getting people to care is the hardest part). However, this indeed received backlash.

    Unfortunately, some people find it more gratifying to point out people's mistakes than to make the efforts to change their ways. Or maybe it's believed that they can't change. I don't know. Apparently it was in bad taste for me to take on a challenge and try to reach many people that would benefit from it. He was willing to listen to my advice even if he didn't like it and there were funders that told me they valued his business.

    Some people said that I was trying to "cash in." I stood to make zero dollars from it. Anyways...
    Sean,

    I meant no offense or intended to call your actions out as a cash grab of any kind.

    Although now we understand your intentions on why you attempted this, I honestly believe your decision to not proceed was the right one.

    I for one do enjoy your companies stories, news, and editorials.

    I don't find it gratifying to point out these types of mistakes we find people doing. I find it disappointing that these "mistakes" happen ALOT is our industry that gets plagued with bad press of these bad apples.

    As if there aren't enough eyes looking down on us to find anything to make inaccurate reports or editorials about the industry.

    I can say in the year the Bloomberg piece came out, you were guns blazing pointing out all the false and inaccurate information they reported. We thank you for that.

    I've dealt with the young man, there's the good, the bad, and the ugly. That's all I will say on that front.


    Anyways, Happy New Year kind sir! Best wishes to everyone here.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  20. #20
    Senior Member Reputation points: 35870
    Join Date
    Jun 2019
    Posts
    196

    DAVRON. The legend himself returns

  21. #21
    Senior Member Reputation points: 307559
    Join Date
    Jun 2015
    Posts
    3,323

    best was when he posted on LinkedIn that he stacks all his merchants

  22. #22
    Senior Member Reputation points: 22201
    Join Date
    Dec 2021
    Posts
    637

    Gino may be in Miami collecting and can come give a hand ...........just remind him a few times that guys in the ring our NOT merchants. (and all will run smooth).
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  23. #23
    Senior Member Reputation points: 227882
    Join Date
    Feb 2017
    Posts
    3,429

    Quote Originally Posted by MCA-VET View Post
    Gino may be in Miami collecting and can come give a hand ...........just remind him a few times that guys in the ring our NOT merchants. (and all will run smooth).
    I 2nd Gino, but he might be occupied with jail time right now.

  24. #24
    Senior Member Reputation points: 22201
    Join Date
    Dec 2021
    Posts
    637

    Matt Washington and Paul Boxer can handle security --- NO one getting past them. (maybe a merchant).
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  25. #25
    Senior Member Reputation points: 227882
    Join Date
    Feb 2017
    Posts
    3,429

    Quote Originally Posted by MCA-VET View Post
    Matt Washington and Paul Boxer can handle security --- NO one getting past them. (maybe a merchant).
    Marcus in the clutch with a Matt Washington reference. Good call there. But, Paul Boxer should definitely be the bookie.

Similar Threads

  1. What Collections Agencies have given you the highest rate of return on your defaults?
    By TheUnderwritingProdigy in forum Merchant Cash Advance
    Replies: 13
    Last Post: 06-21-2019, 11:51 AM
  2. Replies: 2
    Last Post: 10-06-2018, 09:12 PM
  3. Replies: 21
    Last Post: 07-20-2018, 03:49 PM
  4. Replies: 5
    Last Post: 11-28-2016, 01:41 PM
  5. Average Default Rate
    By Joe Dough in forum Merchant Cash Advance
    Replies: 26
    Last Post: 10-23-2015, 04:19 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Lendistry welcomes new CFO
LegalZoom partners w/ businessloans.com
iBusiness Funding acquires Funding Circle


DIRECTORY