[FCF Fund]

Hello all, would like to hear your experiences, good or bad, with Mr Advance and 24 Capital.

What say ye?

[Fundholio]

I didn't have a great experience with 24. They were difficult to communicate with and took 24 hrs to decline or approve some files. That could be a reflection on the rep I was assigned, but regardless I stopped submitting there bc of this.

[Zonefund]

Hello all, would like to hear your experiences, good or bad, with Mr Advance and 24 Capital.

What say ye?

Long ago, I funded a deal with 24 cap. I thought I was making 12%; however, after it funded, my rep told me it paid 6%. I asked why and he said because they had to syndicate. I did some digging and found out it was funded at Mr advance. So the same way fundkite Co brokered with Yellowstone on high risk back in the day, 24 still co brokers today w/ Mr advance on high risk deals. When the file renewed no one told me. $6,000 of commission (total was 12k) is a lot of money. They tried to tell me they accidently paid another broker with a similar entity name, and all types of excuses, until I threatened them and they funking paid me.

After that experience I avoided them. I had one deal I couldn't get funded anywhere and I got docs from the merchant of an offer he had from 24. So, unfortunately I submit there, downsell, fund it, get paid. When 24 renews the file themselves directly 60% - 65% in, they email me that I'm making half the commission at the same rate (this was around covid. I figure the rep funded me or his boss or the renewal agent. Their excuse was the renewal agent).

One of my reps funded a reverse with them, they gave the merchant a 30k add-on, 30% into the deal. Same fees rate etc. We had to find out, to get paid. Once we found out they behaved as if they had no funking idea even though they were paying us on disbursements. They knew.

This is why they rebrand to different names. If you ever see a docusign come from fundersapp, it's them. Symplified capital is their new name. If you do a search I warned folks a while ago, and no one listened. Months later one guy already got screwed by them (search posts).

Long ago I tried working with Levi at Mr advance. My reps complained about our files getting called. We put a specific number for subs to them (last option subs). The numbers get called so I call Levi, he makes excuses, I provide the apps number and pics that it's a burner sent only to them. A week or so later he says a story of how they had a rogue employee and they fired her. I am not sure whether that was the truth or not, so, I never sent them a deal again. I was really pissed when I found out 24 cap white labeled through them for deals too risky for 24 to fund.

I hope these 5"5 punks all get what's coming to them.

[FundGod]

I have no direct experience with Mr Advance / 24 Capital but word spreads fast in this industry and heard many stories like the above.

[Nate mca mca]

I am new to the industry (2 years) but I have been doing business with both since I've started up shop. They are both a little slow on responses but my other funders have a hard time competing with them on dollar amount for 2-4 position. They've always paid us as well. Great idea regarding your number on the app, I'll try that and get back if there's any funny business!!!