[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.