[Newport Capital]

I have a merchant that was funded by Simply in May of 2023. Merchant requested a payoff from Simply today and it has a "stacking" fee added to it. They said since they took money from Delta(His words a ****ty company), that they added a stack fee in October when they reviewed it for a renewal. SO Brokers beware. If simply funds your merchant, and you get another position for them 5 MONTHS LATER, most likely Jacob will be adding a stack fee. Balance was 3K and he adds 2K. Talk about poor business. Said it was added in October. I have a payoff letter from October with no "Stack" fee. Truly watching this industry get gobbled up by money hungry individuals.

[closer129]

If there is a stacking fee in the contract and the merchant stacked on the funder and put there money in jeopardy there is nothing wrong with charging a stacking fee especially if the merchants goes to other funders instead of them. Funders take hits all the time from merchants stacking and not renewing or defaulting because they were lied to by the merchant and or broker. Funders are the ones taking the risk putting out there money for the brokers to get paid upfront and they need to make up there loses somewhere.

[DailyCloser]

Arent stacking fees a part of the contracts? What is the issue here? Are you the one that stacked them?

[Bscs]

I have a merchant that was funded by Simply in May of 2023. Merchant requested a payoff from Simply today and it has a "stacking" fee added to it. They said since they took money from Delta(His words a ****ty company), that they added a stack fee in October when they reviewed it for a renewal. SO Brokers beware. If simply funds your merchant, and you get another position for them 5 MONTHS LATER, most likely Jacob will be adding a stack fee. Balance was 3K and he adds 2K. Talk about poor business. Said it was added in October. I have a payoff letter from October with no "Stack" fee. Truly watching this industry get gobbled up by money hungry individuals.

Beware Of Simply?

There is a stacking fee in the contract. Simply has every right to take the fee... Shouldn't have stacked him.
Maybe beware of Newport Capital, they stack their merchants.

[seasonedfunder]

I personally work with simply and have nothing bad to say about them. If a stacking fee is in their contract, there is nothing wrong with enforcing it. merchant/broker shouldn't have stacked if he didnt want to pay it or should've factored that into his decision making process when he took additional funds from someone else.

[fundinggrasshopper]

simply funding is a well know & pretty reputable funder. clean name, clean brand... Simply...Funding.

Newport Capital...makes me think of the sales reps that would publicly brag about making 6 figures but save their half finished newports in their jacket for later

From your complaints about the stacking fee to "your" merchant, i get the sense you might be this type too...Lol

[fundinggrasshopper]

if you funded the merchant behind them,
then you should explain the stacking fee in their contracts...
if you didnt...

than obviously thats not your merchant, thats A Merchant you once funded.

[FasterFunder]

Stacking fees are in every funders contract. Kudos to Simply for enforcing it. When a broker and/or merchant stacks it puts the funders money at risk and the merchant at risk. Especially a Delta deal, notorious for 1.499 and 12% fees.

[simonwein12]

I used to work at Simply and I don't believe it was malicious at all on their part... When you are a funder you fully understand how much stacking risks your deals and livelihood. A good profitable book can become a failure with just a few bad stack jobs.

[mp2048]

Wait, so you’re upset that an A/B paper funder is enforcing a stacking fee because your merchant took funds from a D paper funder and put them at risk?? Simply is very well known in the industry I’m sure their contract states that there is a fee associated with stacking them (like many others have in their docs as well). If I’m not wrong Kapitus enforces the same and the penalty for stacking Kapitus is 10k, are you gonna make a post saying they’re money hungry individuals as well?

Your merchant should’ve been informed on the penalty for stacking, if you were the one that gave them Delta and weren’t transparent then that’s your fault and maybe you should send your client the 2k due to your lack of transparency.

If you’re gonna walk that line and **** comes crashing down then own up to it instead of pointing fingers and trying to slam someone’s reputation they worked hard to build.

[Michael I]

I had a merchant that got 10k from credibly , stacked 5 k from mantis , fully paid mantis for over a month , had a 1k balance with credibly and they added a 5k stacking fee when she went back for renewal .
That was the most ridiculous one i saw , but have seen this plenty of times

[Paz]

Stacking poses negative consequences for all parties involved. It is crucial to educate merchants about the harm it can cause to them specifically.

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[Inquisitive]

Stacking fee is not enforceable in the courts and no one is going to fight over a $2k balance. I would never tell a merchant this but they can just stop payments on simply once their true balance is pif.

[kpeng]

If you knowingly stacked on a funder who contractually states you cannot stack, the only issue here is that YOU were not charged the stacking fee.

[ADiamond]

Tell me the funny part though isn't that the funders charging a stacking fee, being guilty of stacking those SAME DEALS themselves?


:megalul: