Need advice from funders!!!
Need a Funder or Vendor? START HERE

Results 1 to 8 of 8

Threaded View

  1. #1
    Senior Member Reputation points: 24
    Join Date
    Jan 2019
    Posts
    117

    Need advice from funders!!!

    Hello funders. Hope you are thriving in these crazy times. I have a question for you. My partner and I have 8 years of experience, and we opened a new shop. We are kicking ass, but there is a scenario that keeps popping up. We have gotten declines on several files that are very fundable. The response I've gotten from funders on these files is "Declined. Merchant got duped by CREDIT ADVANCE or duped by UNITED" These guys scammed the merchant by getting them to take say, $20,000 and then we will get you a term loan for $500,000. The merchant signs, and instead of wiring $20,000, they wire them $13,000 at a 1.55 with $7,000 in fees. Then they immediately file a default lien. Now, these great files can't get funded, even though some have a zero balance letter and copies of the transaction paying paying the funder back in full. My question is WHO WILL FUND THESE GUYS WHO GOT SCAMMED?
    Last edited by k lion; 06-07-2023 at 03:02 PM.

Similar Threads

  1. New ISO and looking for advice on leads and reliable Funders
    By fmoli991 in forum Merchant Cash Advance
    Replies: 88
    Last Post: 03-08-2023, 05:42 PM
  2. Advice Please
    By FSB in forum Deal Bin
    Replies: 2
    Last Post: 11-28-2019, 11:16 AM
  3. Advice
    By FSB in forum Deal Bin
    Replies: 0
    Last Post: 10-18-2019, 08:31 AM
  4. Need advice please
    By SUPERIORFUNDING in forum Deal Bin
    Replies: 3
    Last Post: 12-30-2014, 02:42 PM
  5. Advice for the day!
    By mcaguru in forum Merchant Cash Advance
    Replies: 8
    Last Post: 06-17-2014, 04:36 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