I responded to a thread on the self promotion board and havent heard back yet, but since those are less frequently visited, I thought to bring it over here since it is less about the promotion and more about the underwriting of deals:


Originally Posted by Colt McDaniel

Yes. If a merchant has an existing advance or a loan we can still fund them as long as the advance is three month old.
What precautions are taken to make sure that:

A) the business can handle the repayment of the previous obligation along side your new financing?
B) you are not enabling/allowing the merchant to breach their contract with the previous funding company?


EDIT: for those not looking at this board, Colt is with IOU Central.