Quote Originally Posted by J.Celifarco View Post
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 12th
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.