The real issue with these Shady funders is that the merchants end up committing similar or greater crimes in response to them getting scammed or ripped off.

I’ve seen this so many times. Merchants taking out money and defaulting out the gate, just to “get even” with the MCA space, due to them getting scammed a week or month prior, from one of these shady funders.

So by the time legal gets involved both parties have engaged in a scheme to defraud.

The only ones losing out are the funders who operate above and beyond the law and try keeping themselves to the rules, because they ultimately pay the big picture price.

However, companies like OnDeck or Square are no saints either. Look up their multi billion dollar shinanigins.. puts these $10K scammers to shame.