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06-07-2023, 02:50 PM #1
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.
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