[ADiamond]

Until the first position guys start taking a truly tough stance on these, these smaller companies will just keep doing what they are doing

I Concur. If you think about it, who is the one first position funder that absolutely no one will hop? Happy Rock.

Why? Because they don't just say they'll sue, they actually do sue. Everyone knows this, and NO ONE hops!

[Sean Cash]

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

There are several open stacking lawsuits pending now. All different funders vs. other funders. I know everybody wants proof of them, but I'm not going to share it. They are real though. Something to be mindful of if you stack. Your turn might come up.

[J.Celifarco]

There are several open stacking lawsuits pending now. All different funders vs. other funders. I know everybody wants proof of them, but I'm not going to share it. They are real though. Something to be mindful of if you stack. Your turn might come up.

If thats the case then what it comes down to is how long it will take these cases to make there way through the courts.. Whatever the verdict is in these cases will probably be what decides the direction the industry goes with regards to stacking

[MCAVeteran]

This forum is wide open for litigators to get their data from, call on for witness, and discovery. Basically, being handed to them on a silver platter

[MCNetwork]

I've seen On Deck stack merchants as well. They should watch out!

[Quickfunder]

I'll see your 12th position client, and raise you a 1.74 factor rate haha. New records being set today.Attachment 679

I'm confused. What is this screenshot from? Everyone's debating if it was typo but it looks like this is the originating funding calculator right? Isn't it pretty obvious?

[anonymous]

I'm confused. What is this screenshot from? Everyone's debating if it was typo but it looks like this is the originating funding calculator right? Isn't it pretty obvious?

Screen shot is from the lender's portal.

[Fly]

Ondeck and Kabbage just stacked on my merchant that is D Paper and already has 2 D paper loans. Lol. Ondeck did a 4 year term deal. His cash flow has and had been declining too. And they both gave him larger loans than the 1st and 2nd position lenders. Crazy.

[CreditGuy]

I've seen On Deck stack merchants as well. They should watch out!

The larger lenders (OnDeck, CAN, BFS, TBB, etc.) aren't stacking intentionally. They are selling most of their paper into warehouse lines, or in the cases of OD and CAN, securitization facilities. Originating a deal that's a stack would violate the covenants of those facilities. It is most likely the broker (or owner) that is double funding the business. There might be some instances where it legitimately fell through the cracks, but I very highly doubt it is intentional.

[Chambo]

Ondeck and Kabbage just stacked on my merchant that is D Paper and already has 2 D paper loans. Lol. Ondeck did a 4 year term deal. His cash flow has and had been declining too. And they both gave him larger loans than the 1st and 2nd position lenders. Crazy.

On Deck is doing everything via online portals and algorithms. Those don't take 2nd positions into account. Heck, they rarely even have human beings speak to the merchant

[CreditGuy]

Ondeck did a 4 year term deal.

On Deck's max term is 24 months per their website.

[Fly]

It's a new program that goes longer than 24 months.

[Fly]

On Deck is doing everything via online portals and algorithms. Those don't take 2nd positions into account. Heck, they rarely even have human beings speak to the merchant

This is not true. They have a huge sales force now.

[Chambo]

This is not true. They have a huge sales force now.

Define "huge"? If they went from 5 to 10, hey, they grew their sales force 100% over last year!

[Fly]

They have one of the largest advertising campaigns in the space right now, you think 10 people can field all those inbound web leads and phone inbounds? I would guess close to 100 by now.

[Chambo]

They have one of the largest advertising campaigns in the space right now, you think 10 people can field all those inbound web leads and phone inbounds? I would guess close to 100 by now.

Get Da F*** outta here! You smokin' crack?!

[CreditGuy]

It's a new program that goes longer than 24 months.

I think Chambo is right about you smoking crack.

[sam@ybc]

i know the broker that owns this merchant, you think you're nice?

10k, 1.795 10% psf, $445/day, merchant wires 12k balance before 20 days is up.

point, game score - you lose.

Ill see your 10k @ 1.795 and raise you
11k 1.99 pb 21980 699/day, paid back like a champ.
Oh and a 10% PSF.
Double point - you all lose lol

[Regium]

Ill see your 10k @ 1.795 and raise you
11k 1.99 pb 21980 699/day, paid back like a champ.
Oh and a 10% PSF.
Double point - you all lose lol

Kudos for bragging about that.... You deff win .
:sigh:

[mcg168]

Ill see your 10k @ 1.795 and raise you
11k 1.99 pb 21980 699/day, paid back like a champ.
Oh and a 10% PSF.
Double point - you all lose lol

ugh

[jmccready]

Wow, I've never seen numbers like that. Whatever the market will bear right?

[CashCapital]

Does any
one know the contact info for Advance Payment?

[ADiamond]

20k, 1.70, 37 days 10% psf - funded again!

[Chambo]

20k, 1.70, 37 days 10% psf - funded again!

you are actually PROUD of that predatory deal? There is ABSOLUTELY NOTHING beneficial about a deal like that to the merchant. It is dumb s*** like this that'll have regulators knocking on your door.

[MCNetwork]

20k, 1.70, 37 days 10% psf - funded again!

Lol that's disgraceful. Even if I was desperate enough to push that on a merchant I sure as hell wouldn't advertise it!