[Michael I]

That and the fact that they can approve a merchant for funding based on one or two bank statements with no regard to seasonality and other common sense factors.

I had a merchant that got money from iOu , Everest/Yellowstone and wall taking out about 26 percent of growth . Rough but not terrible. 2 weeks later on deck funds him pulling 30 percent of growth ( if you look at a full year ) now merchant is paying 56 percent there is no way this guy won't default.
They don't ask for the recent statements and I guess those 3 companies don't file ucc .crazy