We submitted a well-qualified applicant to a major A+ MCA lender that is supposed to provide exclusivity.

Shortly thereafter, merchant received a contract from another lender with a different name but the same exact layout and verbiage on the offer sheet -- with differing terms however.

The lender we submitted to told us this was simply due to the CA Disclosure requirements which is why the contracts (or term sheet) looked identical. However, we have not seen this coincidence from any other lenders we work with.

As it turns out, the second lender has information published online that says they have a working relationship with the lender we submitted to and facilitates some of their fundings. The lender we submitted to claimed not to know anything about this. Wanted to check here first to see if anyone is familiar with identical term sheets so far as presentation / layout / verbiage. Even if this is merely the disclosure page, should they be identical like this from two different lenders and one claiming not to know anything about the other?Contract 1.png

Contract 2.png