[SamuelH]

Hey,

I got 3 deals that need to be funded and they are considered low risk, but I need a deal that makes sense for these clients. The 3 clients have good bank statements but a 50k deal in which they have to pay 1k a day is not going to work. Who can get these clients the funds with a stellar rate of return? I need someone that is good at responding in a timely manner with a track record of getting deals funded.

Thank you

Samuel
406-282-1404

[Olderguy]

There are no facts in your request that would allow anyone to give you any kind of reasonable response. My magic lamp doesn't work on Tuesdays.

[SamuelH]

I got 5 responses from qualified Loan Officers! Thanks

[Yankeeman07]

I got 5 responses from qualified Loan Officers! Thanks

An MCA is NOT a Loan

[SamuelH]

An MCA is NOT a Loan

Sure it is...... Definition of Loan is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest: AKA MCA

[abfunders]

Sure it is...... Definition of Loan is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest: AKA MCA

An MCA is not a loan, otherwise they would be illegal and usurious.
This has been the case law time and time again in NY.
Don't believe anyone on this board? Believe this lawyer:
https://www.thelangelfirm.com/debt-c...r-from-loans-/

There's no "borrowing" but it's "expected" to be paid back, but it's not technically guaranteed to be paid back. A loan carries with it a guaranteed set payback with real terms, not discount rates etc.

[Yankeeman07]

Sure it is...... Definition of Loan is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest: AKA MCA

Two items a person learns very fast in the MCA Industry - Never use the words "loan" or "Interest"

A true MCA is the "purchase of future receivables" for upfront cash payment - An MCA has a "factor rate" not interest.

[Olderguy]

I got 5 responses from qualified Loan Officers! Thanks

In all honesty, I doubt there are 5 real loans officers on this board.

[SamuelH]

In all honesty, I doubt there are 5 real loans officers on this board.

No disrespect intended, but they probably are saying the same thing about your business as well.

[Olderguy]

No disrespect intended, but they probably are saying the same thing about your business as well.

doubtful...if none of them requested financials other than tax returns they aren't loan officers.

You are new in this business and need to learn more about doing discovery and learn about loan options for clients. Talking to a bunch of a claimed loan officers on a MCA forum doesn't help you.

[SamuelH]

There are no facts in your request that would allow anyone to give you any kind of reasonable response. My magic lamp doesn't work on Tuesdays.

I don't get your post? I got 5 loan officers that are qualified in this matter. "I need someone that is good at responding in a timely manner with a track record of getting deals funded." This obviously was not you so why respond?

[Steven_O]

Hey,

I got 3 deals that need to be funded and they are considered low risk, but I need a deal that makes sense for these clients. The 3 clients have good bank statements but a 50k deal in which they have to pay 1k a day is not going to work. Who can get these clients the funds with a stellar rate of return? I need someone that is good at responding in a timely manner with a track record of getting deals funded.

Thank you

Samuel
406-282-1404

640 experian score + 2 years of tax returns (business & personal) + SBSS of 150 or higher = $50,000 SBA Microloan.

10 yr term
monthly payment
11.75% a year interest
Prepay anytime - 0 penalty

Pays $1250 per funded $50k file.

Want more information? Send me a message here.

[SamuelH]

640 experian score + 2 years of tax returns (business & personal) + SBSS of 150 or higher = $50,000 SBA Microloan.

10 yr term
monthly payment
11.75% a year interest
Prepay anytime - 0 penalty

Pays $1250 per funded $50k file.

Want more information? Send me a message here.

Reach out to me lets discuss further.
406.282.1404

[abfunders]

Hey,

I got 3 deals that need to be funded and they are considered low risk, but I need a deal that makes sense for these clients. The 3 clients have good bank statements but a 50k deal in which they have to pay 1k a day is not going to work. Who can get these clients the funds with a stellar rate of return? I need someone that is good at responding in a timely manner with a track record of getting deals funded.

Thank you

Samuel
406-282-1404

If it's a first position, even at a 1.50, you're saying that all they are getting is a 75-day deal? If they're truly low-risk, you should be able to get a 1.29 sell rate over 6 months from even the places that are not strickly-A-paper funders (Rapid, IOU, Kapitus, OnDeck), and there are a lot of them. Even at a 1.39 over 120 days, that's 580 if it's daily (and not weekly).

[AshleyMintFunding]

We at Mint do over 150 days, send it over. Info is below!

[Olderguy]

I think you're trying to have a battle of wits...

[JasonBishop]

David Allen Capital Class of 2024

[Yankeeman07]

but I am not ever going to agree that something that was given to me with expectation of me returning is not a loan just my personal opinion and you don't have to agree. Appreciate the banter.

Leave the business asap - You are clueless - the reason that MCA can be sold at a FACTOR RATE" vs an INTEREST RATE is it a purchase of future sales without a specified repayment date. That is a true MCA - read and understand any contract from any funder in the MCA market. Truth be known - a merchant cannot default on a true MCA if their revenue decreases.

[abfunders]

Okay if they settled, it could also/possibly mean the merchant would have been held fully responsible so either way the merchant would have possibly had to pay on this debt whether he settled or not. If you don't care if the loan is going to bring profits, then writing the loan would be risky which would create more of the possibility of the person to default. Also read what I wrote "Saying it's not a loan doesn't create less penalties for non-repayment it's just word jargon for legalese" said nothing about future receivables being fancy jargon. You didn't answer the question: Would you loan someone some money if you didn't expect some type of future receivable? Yes, we are on the same page the MCA are based on receivables, but I am not ever going to agree that something that was given to me with expectation of me returning is not a loan just my personal opinion and you don't have to agree. Appreciate the banter.

It "could also" - yes, but what I pointed out, and you don't get, is that it's not a proof either way. Previous case law in NY has clearly stated that it's not a loan. Like I keep saying, if it's a loan, then it's usury and illegal. If MCAs are legal, they cannot be in the category of loans. What is established case law with precedent in NY state is that an MCA is not a loan. https://debanked.com/2023/02/new-leg...y-in-new-york/


You have to also define the word "responsible". If he is responsible because of fraud, or if he's responsible to forcibly pay it back whether or not there's a business in the mix? There may be a level of responsibility going on, but that level will define if it's a loan or not. Not all responsibility creates liability.

Next, future receivables is not fancy jargon. It's a defined term that is approximately not-yet-earned income.

In answer to your question: I would never lend money to someone who I didn't expect to pay. Otherwise, it's called throwing money out windows. The correct term of discussion is "obligation" to pay. With a loan, there is an "obligation" to pay no matter what the future may bring about; an MCA there is only "obligation" to pay as long as what I purchased (the future receivables) are being generated.

"Expected" to come back is an assumption and investments are also "expected" to profit. The difference is that investments and futures and MCAs are not "required" to come back. Nothing is 100% guaranteed, but a loan is "secured" by the person, a PG, his house, whatever, and an MCA is not "secured" by much other than the hope that the company will remain in business. With a loan, I don't care if their company has gross revenue anymore. Let them take it out of their savings/real estate/inventory/shirt. If I lend someone a $100,000 mortgage, I DON'T CARE if they're profitable on the deal or not, I care that I can collect my $100,000 (+interest). That is not "future receivables", that happens to be a secured loan. An unsecured loan means that I can't directly foreclose on their real estate, but I can certainly sue them, and I will try to forcibly get them to sell their assets to pay me back.

I'll be more explicit: I don't give a heck about future receivables once the loan is made. Dip into your savings, go get a 2nd job, I don't care, just pay me principal (and interest, if it's not an interest-free loan).

With an MCA, if the merchant is a billionaire, but the company venture went bankrupt (i.e. some communists came and burned the store down), the MCA that the funder gave him is lost.

You're never going to agree? You don't have the ability to be wrong? If you specify which type of "expectation" you are referring to, then I think it will be easier to agree. Your opinion is either uninformed or incomplete, because NY state disagrees with you, and if you start peddling loans and charge 50% APR, you're going to lose the case in court and potentially go to jail.

[SamuelH]

It "could also" - yes, but what I pointed out, and you don't get, is that it's not a proof either way. Previous case law in NY has clearly stated that it's not a loan. Like I keep saying, if it's a loan, then it's usury and illegal. If MCAs are legal, they cannot be in the category of loans. What is established case law with precedent in NY state is that an MCA is not a loan. https://debanked.com/2023/02/new-leg...y-in-new-york/


You have to also define the word "responsible". If he is responsible because of fraud, or if he's responsible to forcibly pay it back whether or not there's a business in the mix? There may be a level of responsibility going on, but that level will define if it's a loan or not. Not all responsibility creates liability.

Next, future receivables is not fancy jargon. It's a defined term that is approximately not-yet-earned income.

In answer to your question: I would never lend money to someone who I didn't expect to pay. Otherwise, it's called throwing money out windows. The correct term of discussion is "obligation" to pay. With a loan, there is an "obligation" to pay no matter what the future may bring about; an MCA there is only "obligation" to pay as long as what I purchased (the future receivables) are being generated.

"Expected" to come back is an assumption and investments are also "expected" to profit. The difference is that investments and futures and MCAs are not "required" to come back. Nothing is 100% guaranteed, but a loan is "secured" by the person, a PG, his house, whatever, and an MCA is not "secured" by much other than the hope that the company will remain in business. With a loan, I don't care if their company has gross revenue anymore. Let them take it out of their savings/real estate/inventory/shirt. If I lend someone a $100,000 mortgage, I DON'T CARE if they're profitable on the deal or not, I care that I can collect my $100,000 (+interest). That is not "future receivables", that happens to be a secured loan. An unsecured loan means that I can't directly foreclose on their real estate, but I can certainly sue them, and I will try to forcibly get them to sell their assets to pay me back.

I'll be more explicit: I don't give a heck about future receivables once the loan is made. Dip into your savings, go get a 2nd job, I don't care, just pay me principal (and interest, if it's not an interest-free loan).

With an MCA, if the merchant is a billionaire, but the company venture went bankrupt (i.e. some communists came and burned the store down), the MCA that the funder gave him is lost.

You're never going to agree? You don't have the ability to be wrong? If you specify which type of "expectation" you are referring to, then I think it will be easier to agree. Your opinion is either uninformed or incomplete, because NY state disagrees with you, and if you start peddling loans and charge 50% APR, you're going to lose the case in court and potentially go to jail.

Bro I didn't even read your rebuttal because at this point if you don't understand where I am coming from and can't provide some type of value other your circling arguments then Im out. i got those deals funded with a MCA Loan.......end of discussion.

[abfunders]

Bro I didn't even read your rebuttal because at this point if you don't understand where I am coming from and can't provide some type of value other your circling arguments then Im out. i got those deals funded with a MCA Loan.......end of discussion.

Bro, I know where you're coming from: You defined "expectation" wrong and therefore made all MCAs into loans. Just because you don't understand where I'm coming from and you don't have the energy to read a thought-out argument, doesn't make my logic circular. You clearly don't do much debating and just likely just watch news commentary about politics with lots of name-calling. You still haven't double-checked me with ChatGPT. I'm telling you, if you start peddling "loans" at 125% APR, you will get in trouble.

[SamuelH]

I appreciate the convo and advice! Much success and great day.

[sam grossman]

hi im an iso rep i work over at raptor advance and i would love to speak to you about doing buisness together - Sam Grossman
ISO Relations
C . 347-745-0783
O . 860-419-7905
Sam@raptoradvance.com
www.raptoradvance.com