[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.

[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.

[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!

[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]

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?

[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

[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]

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.

[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]

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.

Okay sir, a loan is not guaranteed to be paid back either. Guarantee means a formal pledge to pay another person's debt or to perform another person's obligation in the case of default. You're using the wrong words to prove your point as default applies to MCA Loans as well and if they happen the only thing a lender or funder could do is sue but doesn't guarantee any compensation in return.

[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.

[abfunders]

Okay sir, a loan is not guaranteed to be paid back either. Guarantee means a formal pledge to pay another person's debt or to perform another person's obligation in the case of default. You're using the wrong words to prove your point as default applies to MCA Loans as well and if they happen the only thing a lender or funder could do is sue but doesn't guarantee any compensation in return.

You're still fighting case law, the trend on DF, and we can continue the conversation. BTW, there are plenty of people on here as-qualified or better-qualified than I am.
If it wasn't for bankruptcy law, then when someone doesn't pay back a loan, there's NOTHING stopping the lender from jumping into the bank account of the borrower and taking money from him, and garnishing wages.
An MCA default cannot garnish wages. If the business goes bankrupt, there's technically nothing that can be done. They bought the future income, and there turned out to be no future income.
Let's use the stock market as an example:
If I lend money to a farm, then if they don't pay me back, I have a lien on the farm. I don't care if their business does well or not. They could choose not to pay me, there's not "guarantees" in life, but I have tools through the courts to take it out from them.
If I buy futures on their cattle stock, if their cattle does well, I get a portion. If not, I'm out of my money. Nothing to do. No courts, no liens.
In most cases, to not be a loan, an MCA has to mimic a purchase of futures. Otherwise it would be usurious loan.

I dare you. Put my statement through ChatGPT and see if I'm mostly correct. I'm dumbing it down, and there are extra points to consider, but that's the basic gist.

[SamuelH]

You're still fighting case law, the trend on DF, and we can continue the conversation. BTW, there are plenty of people on here as-qualified or better-qualified than I am.
If it wasn't for bankruptcy law, then when someone doesn't pay back a loan, there's NOTHING stopping the lender from jumping into the bank account of the borrower and taking money from him, and garnishing wages.
An MCA default cannot garnish wages. If the business goes bankrupt, there's technically nothing that can be done. They bought the future income, and there turned out to be no future income.
Let's use the stock market as an example:
If I lend money to a farm, then if they don't pay me back, I have a lien on the farm. I don't care if their business does well or not. They could choose not to pay me, there's not "guarantees" in life, but I have tools through the courts to take it out from them.
If I buy futures on their cattle stock, if their cattle does well, I get a portion. If not, I'm out of my money. Nothing to do. No courts, no liens.
In most cases, to not be a loan, an MCA has to mimic a purchase of futures. Otherwise it would be usurious loan.

I dare you. Put my statement through ChatGPT and see if I'm mostly correct. I'm dumbing it down, and there are extra points to consider, but that's the basic gist.

WOW sir, you proved my point bankruptcy filing chapter 11 dissolves Unsecure Loans. Emerge Law considers MCA Loan a unsecure loan that can be dissolved under a chapter 11 filling. Please see source below.

Source
https://www.emerge.law/post/merchant...small-business

[SamuelH]

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.

All do respect bashing other loan officers or funders doesn't help either.

[Olderguy]

All do respect bashing other loan officers or funders doesn't help either.

That's not bashing that's fact...if they don't ask for financials they aren't loan officers.

"Loan officers use a process called underwriting to assess whether applicants qualify for loans. After collecting and verifying all the required "financial documents", loan officers evaluate the information to determine an applicant's need for a loan and ability to repay it"

[SamuelH]

That's not bashing that's fact...if they don't ask for financials they aren't loan officers.

"Loan officers use a process called underwriting to assess whether applicants qualify for loans. After collecting and verifying all the required "financial documents", loan officers evaluate the information to determine an applicant's need for a loan and ability to repay it"

My loan officers are definitely asking for 3 months bank statements and a application so pretty legit sir.

[Olderguy]

My loan officers are definitely asking for 3 months bank statements and a application so pretty legit sir.

Sam you have no understanding of the loan industry.

That's not a loan officer, that's a MCA broker who doesn't even look at the file...they submit it to a dozen MCA lenders.

A loan officer gets full financials and does a basic underwriting review.

Well accept what you get...it's your choice.

[abfunders]

WOW sir, you proved my point bankruptcy filing chapter 11 dissolves Unsecure Loans. Emerge Law considers MCA Loan a unsecure loan that can be dissolved under a chapter 11 filling. Please see source below.

Source
https://www.emerge.law/post/merchant...small-business

Emerge Law considers it, but that's marketing to convince people to come and spend money to try to get their MCAs taken care of.
Did you try putting my answer through ChatGPT? I can find you a lot of MCA companies who will write on their websites that an MCA isn't a loan. Backd, altLine, OnDeck, to name a few on a quick Google search.

Try to quote me actual case law. This has been tried time and time again in NY state to make it a loan and therefore illegal usury, and they keep losing! https://debanked.com/2021/06/new-yor...are-not-loans/

Sometimes MCAs are loans, and that's when the exception is when the guaranteed payment is there, and the funders won't do reconciliation or push it off, etc etc. MCAs are not guaranteed "enough" to pass the muster to make them loans.

Bankruptcy erases loans and MCAs, but that doesn't prove that an MCA is a loan. It just proves that bankruptcy law is a blanket law, and loans and MCAs are a subset that are included. The point is that you don't need to file bankruptcy in order to get out of an MCA. The logical concept at play here is known as commonality vs. identity AKA the shared attribute fallacy. To be simple: Just because two people look similar, play pitcher, are both 6'4", and redheads with beards and have the same name..... doesn't make them the same person, and doesn't make them brothers. Google Brady Feigl.

I would like you to double-check me on ChatGPT.

[Russell]

Emerge Law considers it, but that's marketing to convince people to come and spend money to try to get their MCAs taken care of.
Did you try putting my answer through ChatGPT? I can find you a lot of MCA companies who will write on their websites that an MCA isn't a loan. Backd, altLine, OnDeck, to name a few on a quick Google search.

Try to quote me actual case law. This has been tried time and time again in NY state to make it a loan and therefore illegal usury, and they keep losing! https://debanked.com/2021/06/new-yor...are-not-loans/

Sometimes MCAs are loans, and that's when the exception is when the guaranteed payment is there, and the funders won't do reconciliation or push it off, etc etc. MCAs are not guaranteed "enough" to pass the muster to make them loans.

Bankruptcy erases loans and MCAs, but that doesn't prove that an MCA is a loan. It just proves that bankruptcy law is a blanket law, and loans and MCAs are a subset that are included. The point is that you don't need to file bankruptcy in order to get out of an MCA. The logical concept at play here is known as commonality vs. identity AKA the shared attribute fallacy. To be simple: Just because two people look similar, play pitcher, are both 6'4", and redheads with beards and have the same name..... doesn't make them the same person, and doesn't make them brothers. Google Brady Feigl.

I would like you to double-check me on ChatGPT.

Micah is right, This is really very simple, a cash advance by definition isn't a loan and has no Finite Terms, that's why every cash advance contract says THIS IS NOT A LOAN, a cash advance is a purchase of future receivables NOT A LOAN,

[Olderguy]

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

[Zonefund]

My loan officers are definitely asking for 3 months bank statements and a application so pretty legit sir.

You really are a worthless ***** complaining on your thread when you're asking for help for "clients" who don't qualify for anything better.

Hopefully a real broker calls em and funds em and you walk away with ****. Since you are garbage.