[Jared_Weitz]

After reading through the forums a lot and being signed up through a few different funders for the past two years I was considering signing up with Pearl once I read about the sale. I use 2 banks for my A/B paper, 2 for C/D and 1 for starters.
The Pearl sale is one of the most read threads on this site!!!wow!!!
The same way funders do background checks on their ISO's, I am a believer in the ISO doing their due diligence on a funder as well. A lot of which can be picked up on a site like this. From what I have read Pearl was acquired by Capital Z.
Sol Lax is operating as the CEO of Pearl Capital. Has anyone heard of him working at any other cash advance companies?
There were some rumors on here regarding Pearl operating under different names such as Horizon Business Funding and East Capital.
It's not a secret that other banks have in house sales offices as well. For example MCC has NLF.
It's unfortunately more and more common for funders to "shop" submissions from ISO's after a week, two weeks, 30 days according to the fine print in some ISO agreements or even without it. Sometimes they shop it out under other names and sometimes they try to fund in house with a lower factor rate because they are not paying a commission. That is the main reason I only work with 5 funders and do my diligence before signing up with new funders. I spoke to a few other funders/ISO's, some of whom I work with, who have reps that work for them that used to work at Pearl or have submitted deals to Pearl and a week later it was funded not by the ISO it was submitted by. Yes I know more than not merchants are working with multiple ISO's but I have heard the same story from multiple people regarding Pearl. Below is a list of names of companies that funded these merchants. If you call around those numbers (accidentally) a rep has answered the phone "Horizon Funding" or "Pearl Capital".


Pearl Capital
Horizon Business Funding
East Capital
Merchant Bridge
Black Rock Merchant Advance
Forward Line Funds

Has anyone else here had this experience? This is not meant to be a bashing post, it is meant to see if anyone else has seen this trend.

Sol seems to be a good guy so far from my experiences. Big finance background, very logical. I'm eager to see how things shake out there over the next few months.

[Sean Cash]

Sol seems to be a good guy so far from my experiences. Big finance background, very logical. I'm eager to see how things shake out there over the next few months.

Pearl also seems to be recruiting some reputable industry vets who will probably have a positive influence on the culture there. Ditto on being eager to see how things shake out.