[Michael I]

I don't have to be privy to the details of the various suits to understand the law. We've already established pretty early on in this thread that you are a ethically devoid dullard. Let's not add pedant to your list of adjectives.

what exactly happened in your life to make you so miserable . i feel bad for people like you . do not be embarrassed to get professional help

[J.Celifarco]

I swear there is something about this thread everybody gets along for a couple days this thread comes back and everyone hates each other again.. I believe this thread is cursed only explanation for the insanity it has caused and brought out in people

[CreditGuy]

I'm actually really happy. I just have a low tolerance for stupid people.

[AndyYSCISOdept]

I swear there is something about this thread everybody gets along for a couple days this thread comes back and everyone hates each other again.. I believe this thread is cursed only explanation for the insanity it has caused and brought out in people

What the heck did I miss where this went totally nutty?

[J.Celifarco]

i'm actually really happy. I just have a low tolerance for stupid people.

fair enough

whatever it is this thread gets people going

[Funder Mark]

My bad, I asked about lawsuits and then everything started going downhill.

[Michael I]

What the heck did I miss where this went totally nutty?

i asked a question that credit guy took personal . but i will end it here and not stretch out a fight for a difference in opinions

[J.Celifarco]

What the heck did I miss where this went totally nutty?

you didnt miss anything, fine 1 sec nutty the next

[mcaguru]

Rapid currently has 3 open lawsuits for tortious interference against different companies that have stacked on us and caused a loss. I can't speak for other companies and what they have done. CreditGuy has a good analysis of some of the issues and contractual rights.

These cases are all fact specific and are working their way through the courts. In our first case, against one of the companies that specifically advertises that they do 2nds, 3rds etc., the defendant filed a motion to dismiss and we recently had a ruling in our favor allowing the case to proceed. Which means we get to do discovery, take depositions, etc.

There is also significant regulatory awareness of the stacking issue in particular. Some of you know that SBFA is now active on Capitol Hill and has hired an Executive Director who comes from a leadership role on the House Committee on Small Business. Our legal department is also active on the Hill and has testified at the Federal Reserve on issues related to our industry.

Ye I hear you. Capital hill at times is a good route and we use that for family healthcare ventures, for our industry the guys at capital hill look at a 1.18-1.30 factor rates as punching the merchant in the gutt. MCA/ACH is very helpful but congressman hear 20-30% payback and the most conservative MCA Group can look like hard money. (these are a group of people that anything over bank rates is excessive).

[J.Celifarco]

Ye I hear you. Capital hill at times is a good route and we use that for family healthcare ventures, for our industry the guys at capital hill look at a 1.18-1.30 factor rates as punching the merchant in the gutt. MCA/ACH is very helpful but congressman hear 20-30% payback and the most conservative MCA Group can look like hard money. (these are a group of people that anything over bank rates is excessive).

HUH? What does this have to do with the stacking law suits???

[Chambo]

Too bad for you Marcus...if they deem it an illegal transaction, it doesn't much matter what you consider good financing or not

[mcaguru]

HUH? What does this have to do with the stacking law suits???

I saw the Capital Hill stuff and pointed out that these guys can be educated on 2nd position funders and they might be hold your horses why don't you tell us about the 1st position (now of course they may not ask the questions about 1st positions in front of Mr Brown!!) and then when they hear about 1st position 1.25 rate and feels its way to aggressive and uncle charlie went under for taking a 1.18 they come after us all ..

[mcaguru]

Too bad for you Marcus...if they deem it an illegal transaction, it doesn't much matter what you consider good financing or not

Listen Chambo at 2nd source you know we originated 12,000 merchants! are you aware that 2/3 went out of business and never had a 2nd position. you think we did not stack on there landlord and Amex/ CC cards and lines of credit? when we gave them a 1st and only position.

[J.Celifarco]

I saw the Capital Hill stuff and pointed out that these guys can be educated on 2nd position funders and they might be hold your horses why don't you tell us about the 1st position (now of course they may not ask the questions about 1st positions in front of Mr Brown!!) and then when they hear about 1st position 1.25 rate and feels its way to aggressive and uncle charlie went under for taking a 1.18 they come after us all ..

1st position MCA's have already been run though the courts they dont have worry in anyway close to how the second position and deeper will.

[mcaguru]

1st position MCA's have already been run though the courts they dont have worry in anyway close to how the second position and deeper will.

Anytime your giving capital above banking rates with a pro-regulation administration one can be worried. (since you use the worry term) and lets not even go down the path when the smartest business economic professor at Georgetown Universality proves that its the 1st position funding house that causes 100% the merchant to need a 2nd position?? (yep a professor is on it sadly) what happens then??!!!

[J.Celifarco]

Anytime your giving capital above banking rates with a pro-regulation administration one can be worried. (since you use the worry term) and lets not even go down the path when the smartest business economic professor at Georgetown Universality proves that its the 1st position funding house that causes 100% the merchant to need a 2nd position?? (yep a professor is on it sadly) what happens then??!!!

I will take my chances that the 1st position funders will be ok. If the 2nd and 3rd position companies best argument is dont come after us because maybe someone will come after you, if thats the case they are even more screwed then I originally believed. You gotta do better then that

[mcaguru]

I will take my chances that the 1st position funders will be ok. If the 2nd and 3rd position companies best argument is dont come after us because maybe someone will come after you, if thats the case they are even more screwed then I originally believed. You gotta do better then that

Its all good ! my point is if regulators come in to the pic everyone in the space of 1.20+ will have what to deal with.

I do have a passion to open a Soup Kitchen for the needy would love Bernie Sanders to win and the Executives in our space (from A-Z Lenders) will have all the time to help me get those Delicacies served.(Trump wins will hire others to handle the servings ).

[Alleon Healthcare]

If the client has strong AR, we could take a look and possibly buy out the cash advances and get him into our line of credit program. Which is a much better long term financial solution for the client.