[Quickfunder]

I'm curious on anyone's experience with Cooper Asset. From what I understand, they do C & D paper. I just got a decline for a file and the reason was previous difficulty paying back an advance with another funder. Since then, the merchant's cashflow has picked up and they've been on a plan with the funder. Aren't the point of these advances for merchants who have slow times and problems and need reserve cashflow??

[bdshaw]

No, the point is to advance to a customer with the likelihood of getting paid back.
once a customer defaults on a lender the risk goes way up.
Bob

[BB_Cooper]

Cooper solely funds high risk C/D & below deals, so like all true high risk funders, all of our deals have sub 500 FICO's, tons of negative days, etc. But we are looking to partner with our merchants and help, not hurt. This particular deal had defaulted on another high risk lender and taken another funding subsequently. If they can't afford the first 2 positions- not sure why adding another is going to help the situation. Cooper has funded files where the merchant has a prior default with another funder, where they have reach a settlement with the other funder and current cashflows justify the funding. High risk funding done right, does not mean dumb money. We are in the business of originating productive partnerships with our distressed merchants, not setting up additional defaults for a merchant.

Robert S Bloink
EVP of ISO Partnerships
Direct: 313-218-4663
Email: bb@cooperasset.com
Web: www.cooperasset.com
logo-01smaller.jpg

[2014FUNDING]

I can vouch for Robert at Cooper Asset. He is by far the easiest funder to deal with! He funds C/D paper requiring minimal paperwork. He offers same day funding as well. NO BULL****! Quickfunder you need to understand these banks are in the business of making money just like you. Its gotta make sense thou. The famous saying in this market is if there is meat on the bone we will eat. A guy that had issues making payments is not c/d paper its more like an F. Keep up the great work Rob.

[GMFunding]

Cooper is a refreshing lender in the world of C/D paper deals, very straight forward offers and flexibility when it makes sense and as mentioned previously in many cases same day or 24hr funding.

[Quickfunder]

Thanks for the feedback. I agree Robert is very helpful and has very quick turnaround. I just wanted a measurement to know what files to send and where on the scale they were. Wondering at what point a merchant can get funded again after having difficulty on a previous advance. I consider default the failure to pay back, whereas this merchant has paid back but had adjustments made to the original schedule due to cashflow issues - which are no longer apparent per the statements.

[GMFunding]

They funded a pharmacist for me which had a pending Judgement with Pearl exceeding six figures. It was a small trial offer but we got it done nonetheless.

Make sure the deal has enough deposits, decent bank balances and you'll have a high chance of approval.

If you have a file who went from daily payments to weekly/monthly or far exceeded expected term, don't think many lenders will risk it.

[ADiamond]

I'm curious on anyone's experience with Cooper Asset. From what I understand, they do C & D paper. I just got a decline for a file and the reason was previous difficulty paying back an advance with another funder. Since then, the merchant's cashflow has picked up and they've been on a plan with the funder. Aren't the point of these advances for merchants who have slow times and problems and need reserve cashflow??

you can't expect a high risk funder to fund a deal that is on reduced payments or a payment plan with another funder. if they couldnt handle one what makes you think they can handle another? "High Risk" doesn't mean fund anything, including messed up deals.