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04-13-2015, 04:53 PM #1
I wouldn't even have a bank to submit this deal to if I wanted to. The only reason I would send this to any of the banks I work with would be if it was a joke, becuae the second they saw 5 outstanding loans the only reaction they would have would be laughter.
Concerning strategic they may not know about the other balances if there are multiple bank accounts.. . If they did I would guess they would kill it. It is bad business and its predatory. Just because you can make money doesn't mean it makes sense. It is lending like this that will lead to regulation of the industry and profits for all people in the space to drop immensely. Smart people in the space are staying away from these deals not because you can't make money but because they are looking big picture and realize a couple extra dollars today is not worth risking the ability to make money in the futureJohn 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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04-13-2015, 05:04 PM #2
It's bad business and it's predatory, yet the merchant knows to build revenue and submit another account? MERCHANTS ARE PREYING ON MCA COMPANIES AND EVERYONE ON HERE WANTS TO CRY FOUL PLAY WHEN THEY SEE STACKING. Merchants know exactly what they are doing, they do these things methodically and with intent. You think they don't realize the expense they're paying for this money, or the hole they're digging themselves in? They get as much as they can and then by the grace of god or some worldly miracle corporate turnaround ends up with the file the day after the last stack.
Although we are speculating purely that the merchant has another account - If strategic is dumb enough to not see transfers coming from and going to another account and inquire about it then they deserve what they get.Anthony Diamond
Underwriter
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