[shensky]

I would suggest everyone in this industry stay away from Lendabiz Capital. Funded a deal with us beg of last month. Merchant filed for BK days later. ISO has not answered his phone, call, or an email since finding out deal went bad. Who knows, maybe he was complicit. His name is Arthur Hernandez. He owes us over 40k. If you are a funder out there, do yourself a favor and avoid him. Domain is lendabiz.com

[Michael I]

I would suggest everyone in this industry stay away from Lendabiz Capital. Funded a deal with us beg of last month. Merchant filed for BK days later. ISO has not answered his phone, call, or an email since finding out deal went bad. Who knows, maybe he was complicit. His name is Arthur Hernandez. He owes us over 40k. If you are a funder out there, do yourself a favor and avoid him. Domain is lendabiz.com

wow! how much was the funding for ? which company are you with?

[fundingsmbs]

should really focus on key relationships for iso business right now that you know a clawback won't be an issue. defaults and payment modifications are up across all companies and this type of situation is usually someone who calls or emails you to signup with a beautiful story of how much business they do but if you don't know them, its volatile and risky

[Yankeeman07]

I would suggest everyone in this industry stay away from Lendabiz Capital. Funded a deal with us beg of last month. Merchant filed for BK days later. ISO has not answered his phone, call, or an email since finding out deal went bad. Who knows, maybe he was complicit. His name is Arthur Hernandez. He owes us over 40k. If you are a funder out there, do yourself a favor and avoid him. Domain is lendabiz.com

A business can file for BK but it is not approved within a few days - there is more to the story

[shensky]

Just seeing all of this. It was a renewal and over 500k. ISO disappeared when it came time to clawback.

[Olderguy]

Simple solution..I don't pay commissions until after clawback expires.

[abfunders]

Simple solution..I don't pay commissions until after clawback expires.

Steve, have you ever run a competitive MCA firm? I have not, but from your "easy" answer it's clear that you haven't, either. However, I know a lot of hungry ISOs who would never submit deals to a funder that doesn't pay very quickly. Do you know how many funders advertise "SAME DAY COMMISSIONS" for a reason? From the broker side of things, I try never to never pay out commissions on high risk deals until the clawback period has passed.

[Olderguy]

Steve, have you ever run a competitive MCA firm? I have not, but from your "easy" answer it's clear that you haven't, either. However, I know a lot of hungry ISOs who would never submit deals to a funder that doesn't pay very quickly. Do you know how many funders advertise "SAME DAY COMMISSIONS" for a reason? From the broker side of things, I try never to never pay out commissions on high risk deals until the clawback period has passed.

I know and I rarely do MCA deals...but when I do, the brokers understand my terms. It's because they can't find a lender to do their deal. So I get the stuff where they don't have an alternative. Especially the 21 day and 30 day deals.

[abfunders]

I know and I rarely do MCA deals...but when I do, the brokers understand my terms. It's because they can't find a lender to do their deal. So I get the stuff where they don't have an alternative. Especially the 21 day and 30 day deals.

You didn't say this, but you certainly implied:
"I never do MCAs. But other brokers should know that I'm INCREDIBLY GOOD at them!"

Sounds a lot like the following contradiction that was always implied by never said:
"I was and will be the best president of the greatest country in the world. However, if I'm not the president, then I hate the country."

[Michael I]

Simple solution..I don't pay commissions until after clawback expires.

terrible advice to give to a funder.Is that what you tell all your funders ? not tp pay you intill after clawback period ?
do you know any funders that wait till after clawback period ? i have been doing this over a decade and do not know of one

[mcafunders]

I know and I rarely do MCA deals...but when I do, the brokers understand my terms. It's because they can't find a lender to do their deal. So I get the stuff where they don't have an alternative. Especially the 21 day and 30 day deals.

why are you on this forum if you rarely do MCA? just to spam the threads??

but you are somewhat right - if your doing a risky mca deal and have suspicions with the isos - I doubt most will want to pay it right away.
obv places like ebf and delta dont care or clawback.
most of the brokers out there dont care one iota for a funders money and just want to get their commission and move on

[RickyR3712]

I know and I rarely do MCA deals...but when I do, the brokers understand my terms. It's because they can't find a lender to do their deal. So I get the stuff where they don't have an alternative. Especially the 21 day and 30 day deals.

Steve
Is this your game? You get people to send you deals saying you will get them term loan etc. and then get them some ****ty 20 day deal?

[RickyR3712]

I would suggest everyone in this industry stay away from Lendabiz Capital. Funded a deal with us beg of last month. Merchant filed for BK days later. ISO has not answered his phone, call, or an email since finding out deal went bad. Who knows, maybe he was complicit. His name is Arthur Hernandez. He owes us over 40k. If you are a funder out there, do yourself a favor and avoid him. Domain is lendabiz.com

Your iso agreement should allow you to pull it back or sue him

[Olderguy]

Most of you guys call me about deals that are outside the MCA arena. Term loans, real estate and hard money, equipment financing, personal loans, business LOC, etc. Clawbacks don't come up on those deals.

Some of you call me on deals you can't get funded and those are typically high risk. Those are the deals I don't pay commissions until clawback expires.

Clawbacks don't apply for 99% of the deals I get.