[WhoisKingsley]

But did the merchant keep applying and want it? Yes, a 9th position is insane but if they want it and their finances can handle it- they are going to get it wherever they can get it. It's not the lenders issue- they underwrite it as if the previous balance was another debt against the company- they don't care who as long as they can handle the payback.

I'm not saying that business owners who want more money and are addicted to advances are like crackheads... But read the situation. Metaphorically you can say the same thing about a drug transaction.... It is pretty sad and no broker or lender can make them stop lol

[Chambo]

But did the merchant keep applying and want it? Yes, a 9th position is insane but if they want it and their finances can handle it- they are going to get it wherever they can get it. It's not the lenders issue- they underwrite it as if the previous balance was another debt against the company- they don't care who as long as they can handle the payback.

I'm not saying that business owners who want more money and are addicted to advances are like crackheads... But read the situation. Metaphorically you can say the same thing about a drug transaction.... It is pretty sad and no broker or lender can make them stop lol

Doesn't matter what they want. You, as the "seasoned professional", are supposed to inform them about standards and advise against destructive behavior. Not to mention, you're supposed to protect your funder's assets, and advise against an obviously super risky deal. Otherwise, you are just another predatory lender the Feds will want to throw in jail.

8 active deals, each taking (for argument's sake) 10% pull. That comes to 80% of GROSS SALES going to cash advance. A completely unsustainable equation