[KINGCASH]

Funders people FUNDERS!! We're talking 101 here!
@chambo, nice to see blast from past- Where's Karen??!! Miss her
And Hybrid Advance sucks- Ariel, AKA "Kevin" is a thief.. literally

-Stay classy

[fundinggrasshopper]

And Hybrid Advance sucks- Ariel, AKA "Kevin" is a thief.. literally

-Stay classy

I see new "funders" popping up every month using this contract.

stay away

[closer129]

How do you think i felt finding this out and having my money at risk.

[srslyfunding]

Adding to the list of shady brokers/shady lenders - TMT Funding and WISE/wise ventures - bad experiences with merchants being reached out to directly/harassed by both.

Additionally for new brokers - do not send your full submit deals to any lender that hasn't already sent you a co-signed copy of your ISO agreement beforehand...seems obvious but i've seen many who attempt to do this

[topcloser1]

Adding to the list of shady brokers/shady lenders - TMT Funding and WISE/wise ventures - bad experiences with merchants being reached out to directly/harassed by both.

Additionally for new brokers - do not send your full submit deals to any lender that hasn't already sent you a co-signed copy of your ISO agreement beforehand...seems obvious but i've seen many who attempt to do this

i heard the same

[ADiamond]

United

Saw "United Funds" carrot a merchant with 20K (14K NET - 6K FEE) debit his bank for 2x $1k pmts, and had the merchant wire back $29,990 the same day

It doesn't matter what their name is - they have a million different labels, these are mostly Brooklyn guys (you know who) using and abusing Metropolitan Commercial Bank

I would go to far as to say that M.C.B. is in on it at this point, but that's speculation and circumstantial.

What they're all doing is committing fraud, money laundering, among a ton of other things - and it will catch up to them eventually.

Shine a spotlight on Metropolitan Commercial Bank if you really want to nip it in the bud, for starters.

It's really just sad to see them all get away with it for this long and straight up take advantage of ordinary working people.

[Russell]

Saw "United Funds" carrot a merchant with 20K (14K NET - 6K FEE) debit his bank for 2x $1k pmts, and had the merchant wire back $29,990 the same day

It doesn't matter what their name is - they have a million different labels, these are mostly Brooklyn guys (you know who) using and abusing Metropolitan Commercial Bank

I would go to far as to say that M.C.B. is in on it at this point, but that's speculation and circumstantial.

What they're all doing is committing fraud, money laundering, among a ton of other things - and it will catch up to them eventually.

Shine a spotlight on Metropolitan Commercial Bank if you really want to nip it in the bud, for starters.

It's really just sad to see them all get away with it for this long and straight up take advantage of ordinary working people.

You're 100% right Anthony, the way to go about stopping them is by going after metropolitan bank, I've had a merchant reach out to them directly about a United Funds Scam and they refused to help him, Also I've see JRG start doing the same fake term loan 10 day deal scam , ive seen them do regular deals in the past but recently more and more I've seen them just straight up scam the merchants

[BROKER TIME]

You're 100% right Anthony, the way to go about stopping them is by going after metropolitan bank, I've had a merchant reach out to them directly about a United Funds Scam and they refused to help him, Also I've see JRG start doing the same fake term loan 10 day deal scam , ive seen them do regular deals in the past but recently more and more I've seen them just straight up scam the merchants

thats interesting

from the clients I have seen they are mostly optimum and signature bank

[BB_Cooper]

Saw "United Funds" carrot a merchant with 20K (14K NET - 6K FEE) debit his bank for 2x $1k pmts, and had the merchant wire back $29,990 the same day

It doesn't matter what their name is - they have a million different labels, these are mostly Brooklyn guys (you know who) using and abusing Metropolitan Commercial Bank

I would go to far as to say that M.C.B. is in on it at this point, but that's speculation and circumstantial.

What they're all doing is committing fraud, money laundering, among a ton of other things - and it will catch up to them eventually.

Shine a spotlight on Metropolitan Commercial Bank if you really want to nip it in the bud, for starters.

It's really just sad to see them all get away with it for this long and straight up take advantage of ordinary working people.

Just saw this same scam

[downtownfunding]

Saw "United Funds" carrot a merchant with 20K (14K NET - 6K FEE) debit his bank for 2x $1k pmts, and had the merchant wire back $29,990 the same day

It doesn't matter what their name is - they have a million different labels, these are mostly Brooklyn guys (you know who) using and abusing Metropolitan Commercial Bank

I would go to far as to say that M.C.B. is in on it at this point, but that's speculation and circumstantial.

What they're all doing is committing fraud, money laundering, among a ton of other things - and it will catch up to them eventually.

Shine a spotlight on Metropolitan Commercial Bank if you really want to nip it in the bud, for starters.

It's really just sad to see them all get away with it for this long and straight up take advantage of ordinary working people.

I have seen this happening repeatedly lately by United Funds and they have a bunch of other names like Turbo Capital. Can you elaborate on how they're abusing Metropolitan Commercial Bank? Doesn't MCB still require a holding account with 3x your daily ACH?

[simonwein12]

definitely some really bad funders in this industry, But the ridiculous amount brokers promising the LOC pending a 30 day 1.499 with 20% fees is getting out of control.

funders need to start asking the merchants on funding call if any LOC or term loan was promised in any way in the presentation of their mca offer.

[SuperFastJoe]

definitely some really bad funders in this industry, But the ridiculous amount brokers promising the LOC pending a 30 day 1.499 with 20% fees is getting out of control.

funders need to start asking the merchants on funding call if any LOC or term loan was promised in any way in the presentation of their mca offer.

I have actual full term sheets and contracts from merchants showing our advance as the first "draw" and the rest comes after 30 days. From broker to merchant. It's wild out there.

[abfunders]

I have actual full term sheets and contracts from merchants showing our advance as the first "draw" and the rest comes after 30 days. From broker to merchant. It's wild out there.

Joe, do you cut off these brokers?

[SuperFastJoe]

Joe, do you cut off these brokers?

Insta-cut, superfast.

[closer129]

definitely some really bad funders in this industry, But the ridiculous amount brokers promising the LOC pending a 30 day 1.499 with 20% fees is getting out of control.

funders need to start asking the merchants on funding call if any LOC or term loan was promised in any way in the presentation of their mca offer.

The merchants will lie on the merchant interview.

[BR-Nightmare]

The merchants will lie on the merchant interview.

Correct, they are all coached.

They will come to us after when the broker disappears and they are stuck paying this position they cant afford.

[Friendly funder]

definitely some really bad funders in this industry, But the ridiculous amount brokers promising the LOC pending a 30 day 1.499 with 20% fees is getting out of control.

funders need to start asking the merchants on funding call if any LOC or term loan was promised in any way in the presentation of their mca offer.

But than what about the guys who actually do sba loans and get the merchant an mca to have during the 1-3 months it takes to close an sba loan

[Bcooper]

But than what about the guys who actually do sba loans and get the merchant an mca to have during the 1-3 months it takes to close an sba loan

As someone who has actually used an MCA as a bridge successfully 9 times out of 10 the broker has no relationships with sba banks and is speaking out their ass. Before funding a mca as a bridge always have the bank verify if they can purchase the debt before funding it and get an EOI out with the MCA incorporated before funding the mca. If you have questions on how to do it properly without ****ing your merchant please feel free to reach out.

[N_Snoot]

Puttnam is definitely up to no good - promising a fake line of credit to a merchant I spoke with recently and saw them in the statements funding him 150K 1.499 20% fees over 25 days “for reporting to get a credit a line” lol (merchants volume was 120k in his best months) conveniently right after his SBA money hit as well
Guys are pigs

[Paz]

If you are in need of a legit funder - Look no further -PAZ FUNDING SOURCE LLC
Sign UP here www.pazfundingsource.com/partner/
Funding all states
Commissions at 14%
Direct Funder
1 hour approval
Full commission on renewals
Weekly payment available


Daniel Gold
Paz Funding Source LLC
310-845-6112
Dan@PazFundingSource.com

[BR-Nightmare]

If you are in need of a legit funder - Look no further -PAZ FUNDING SOURCE LLC
Sign UP here www.pazfundingsource.com/partner/
Funding all states
Commissions at 14%
Direct Funder
1 hour approval
Full commission on renewals
Weekly payment available


Daniel Gold
Paz Funding Source LLC
310-845-6112
Dan@PazFundingSource.com

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[N_Snoot]

definitely some really bad funders in this industry, But the ridiculous amount brokers promising the LOC pending a 30 day 1.499 with 20% fees is getting out of control.

funders need to start asking the merchants on funding call if any LOC or term loan was promised in any way in the presentation of their mca offer.

95% of them do ask that on the funding call - and then when the merchant says yes they send it to their janitors closet and have their fat slob cousin do it for a couple grand less than what the ISO was going to do it for LOL come on Simon act like you’ve been here before please

[Bcooper]

If you have any to add, please share. These funders have been caught with shady practices. Carroting the day after funding, promising lines of credit for taking 1.699 with 20% fees and so on.

Advance Capital
All Shore Capital
Art Funding
Everyday
Family Funding Group
Go Fund
Image
Independent Fund
Jett Funding
Master Fund
Puttnam
Redstone
Regal Capital Group
Revive Capital
United
Wincap
World Global

ace funding
11 capital
22 capital
fusion funding
eagle eye
bluebridge
bluegrass
lionhead
fundynatic

[BROKER TIME]

Im so happy that mca is less than 10 percent of the the products we offer

these posts and the people that are actually posting are actually very funny
everyone here making it like their sh*t dont stink!!!

do i think that giving someone a 10 day mca with false promises is ethical or the right thing to do? ABSOLOUTELY NOT!!!

but the brokers that actually post here make it sound that every deal they sell a 60 day term 6 month deal or even a 1 year term with out telling the merchant of a better deal to follow in the future

and for the funders here that post so negatively about the shady characters you to are a big part to blame! alot of you are 3+ positions that offer 50-100 payment deals right after the merchant takes another position do you actually think your position helps these merchants?

the industry as a whole past a 2nd position is a sh*t show

their should be a rule that merchants shouldn't be allowed funding for at least 3 months after receiving a funding.

so everyone needs to stop their complaining
and start offering real products that help these merchants SBA Equipment financing etc...

[abfunders]

Is someone going to eventually name Metro Bank as an accomplice on a lawsuit? Or do these criminals (wire fraud) just focus on emptying out the merchants bank accounts to prevent the merchants from having enough money to go to their lawyers and pursue? I think they're just not afraid anymore. Either they'll go to jail for what they've done until now, or they won't, and at this point, might as well get enough money so that they can provide some money for their wife/kids while they're sitting until they can get a pardon or be released on good behavior.