[mcaguru]

Does anyone know who Flash Funding!? Just wondering how a number of our clients have been contacted by them..is it just my firm?

[Sean Cash]

you sure you don't mean flash advance? Are they based in michigan?

[mcaguru]

Advance in MI/FL i had it right in header...

[Sean Cash]

They're a funding company owned by a former partner in Rapid Capital Funding.

[mcaguru]

the fact is that 4 of our active brokers have heard from there prospect merchants that a flash advance group has called them! I have no proof..it might just be a matter of luck, that's why i am asking if others have heard from the merchants similar calls. if its just us then will monitor the situation. its just not right to spend 6 digits a month on marketing for 1 bank to pass out our leads to another group.

[aayms]

ISOs, how many MCA companies do you work with? When a client wants a MCA, how many companies do you submit their application to before choosing the funder?

[CO1]

I don't understand what the problem is. There's thousands of us in the funding world and only growing so if they step foot into your deals it happens that's why you make your clients loyal to you an only you. My book of 120 clients on every occasion there is for example I send them all fruit baskets so they know I Am there banker an only me an so I don't have to worry about them leaving an also they call me an tell me if they have been approached by others an ask me who they are an etc. so what's the problem here?

[Duvdevan]

I don't understand what the problem is. There's thousands of us in the funding world and only growing so if they step foot into your deals it happens that's why you make your clients loyal to you an only you. My book of 120 clients on every occasion there is for example I send them all fruit baskets so they know I Am there banker an only me an so I don't have to worry about them leaving an also they call me an tell me if they have been approached by others an ask me who they are an etc. so what's the problem here?

Doesn't sound like that's what he is trying to say. It sounds like he is submitting his paper to banks, and one of these banks that he submits to has started to leak out his paper to another ISO/brokerage/funder, in this case, Flash Advance. This happens when a bank declines a deal and tries to snake the ISO by re-selling the paper to companies like Flash Advance.

Better find out which bank is leaking your docs and cut them, next thing you know that leak will drip faster and faster.

[CO1]

Oh. I understand now. So that's why you don't use small shops, stick with the bigger guys in the business, the smallest guy we have in our book came from a direct approach by that company themselves since they heard of my company.

[MCAVeteran]

Looks like they are a division of direct merchant funding llc out of michigan

http://www.bbb.org/eastern-michigan/business-reviews/credit-card-processing-service/flash-advance-in-bingham-farms-mi-90020162

[mfs01]

Hey everyone,

refer to this discussion we had about this issue a few months ago

http://dailyfunder.com/showthread.ph...unding-company

This has been going on for a while and you just need to be careful of who you do business with.

[Ocean Financing]

Just had our first encounter with these guys. We have it narrowed down to two of the industry "leaders", kinda sad to see that regardless of size more often than not deals are getting backdoored left and right. I'm going to ask my merchant, who is a family friend to fill out the app and see where the offers come from!