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02-03-2015, 12:24 PM #1
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
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02-03-2015, 12:48 PM #2
Brian, I usually agree with everything you say on the forums but here I don't think I can agree that there is no difference between a second and a 12th. A merchant taking a second can either be in a bad position and need a little more money or might not know that taking a second loan breaches their first contract.. At 12 positions they don't care and neither does the broker facilitating the loan.
I don't agree with stacking and I think my posts on here can confirm that, but that said there is a huge difference in the mentality with a merchant taking a second compared to taking a 12thJohn Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-03-2015, 03:18 PM #3
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
I agree from the merchant's point of view. The first stack could just be them in desperation mode like you said, or getting talked into it by a salesperson and not knowing any better. But from the funding side or sales side, I still don't think there is a difference. A breach is a breach whether you're selling it or facilitating it for the 2nd time or the 12th time.
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02-03-2015, 03:21 PM #4John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-03-2015, 03:49 PM #5
The issue is, all these stackers don't care. They are just looking for quick revenue. Heck, there are a handful of brokers out there who fund with these companies & then turn around to a stacker for 2nd position.
Why should they care, when you think about it? What are YOU going to do about it? Sue them? Until the first position guys start taking a truly tough stance on these, these smaller companies will just keep doing what they are doing
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02-03-2015, 04:59 PM #6
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02-03-2015, 05:04 PM #7
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02-03-2015, 05:08 PM #8John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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