[JSL23]

http://www.foxnews.com/politics/2015...-from-banking/

Apparently it is targeting several businesses based on the moral and political views of President Obama and his henchman, Eric Holder(I have read Holder is stepping down but he has done plenty of damage). This article focuses on how gun shops are having a very difficult time banking (it also mentions short-term lenders).

I already went into a mini rant on the other post about Rahm Emmanuel targeting MCA providers so i wont get into it, but what are everyone's thoughts on this? The Government going after the B2B sector isn't supposed to happen, but I would not put it past them. Is there a silver lining here though? If traditional banks are turning their backs on gun shops why can't we embrace them? I'm sure they need access to working capital like any other small business. And for a traditional MCA Split deal the residual could be very profitable if one was to build a nice book of business from gun shops in Texas and other gun friendly states. I understand why a lot of Lenders decline them and do not want them on their portfolio, but maybe some should revisit it... Which Lenders will currently fund a gun shop?

[len@accfunding.com]

Non of it surprises me, I've heard it all before. I spent 20 years as mortgage banker and watched my industry get decimated by over regulation. I've heard that some MCA companies were having problems keeping or finding an ACH processing company because they were being put into the same category as a payday lender.

[Funder Mark]

With Choke Hold, pressure is being put on banks to not even handle gun shops and other businesses that the current government does not like. The real question is, who wants to fund a deal, where the bank may be telling the client that they will no longer be handling their account?

[JSL23]

Yea, I know.....whoever is doing it will probably be taking the ACH from small, local banks and Credit Unions....

It looks like they are morally against short-term lending as well, which to me at least, is pretty ironic; after all Obama did take out the biggest MCA ever, with China being the Lender. Hell, 7 trillion he got stacks like IHOP!!

[Chambo]

Non of it surprises me, I've heard it all before. I spent 20 years as mortgage banker and watched my industry get decimated by over regulation. I've heard that some MCA companies were having problems keeping or finding an ACH processing company because they were being put into the same category as a payday lender.

Decimated by over regulation? Or correction to combat all the unscrupulous practices by immoral brokers?

[Chambo]

The Gov't got Al Capone for tax evasion, not loansharking, prostitution, bootlegging, etc.

If they want to put a stop to you, they will. One thing the gov't has that NOBODY here has....unlimited time and money

[mcaguru]

Chambo!!

[JSL23]

The Gov't got Al Capone for tax evasion, not loansharking, prostitution, bootlegging, etc.

If they want to put a stop to you, they will. One thing the gov't has that NOBODY here has....unlimited time and money

Can't argue with that...and if they run low, Obumma can just print more...or ask China for a 20th position!

Treasury department got Capone, a citizen and we are talking about going after businesses; big difference. As far as who they may be going after I am getting a sense they are going after Alternate Lenders on a macro level, not just stackers.... He'll appoint some of his crew to run a Small Business Lending Commission and use us the taxpayers as his bank. It will be like Merchants giving advances to themselves...

[Paperchaser]

obama's administration is the worst thing to happen to this country in recent years, plain and simple. he shouldve stayed a community organizer

[JSL23]

Thanks a lot Oprah!!

[fundgorilla]

You are only guilty until proven Democrat. Take my advice, make sure you send five bucks to every DNC email you get. Thank me later...

....yours,


Jon S Corzine