Results 26 to 50 of 143
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02-02-2016, 12:24 PM #26jotucker1983Guest
Right, it's a crazy cycle. The brokers come in and stack the merchant to high hell, then those same brokers come right back in and look to sell the merchant a "consolidation" to "improve his cashflow"......the same cashflow that they were responsible for screwing up in the first place.
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02-02-2016, 12:27 PM #27
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- Oct 2013
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02-02-2016, 12:28 PM #28
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- Jun 2014
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02-02-2016, 12:28 PM #29John 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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02-02-2016, 12:30 PM #30
have not heard the nickname Scam Chanin in a while....lol
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02-02-2016, 01:03 PM #31
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02-02-2016, 01:03 PM #32
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02-02-2016, 01:10 PM #33
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- Nov 2014
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- NYC
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- 21
I'm surprised no one offered the 5th position yet as its likely only a few weeks away.
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02-02-2016, 01:23 PM #34
lesson to the next ISO best to keep your chest thumping 4th position from being advertised on this board. This has become a great resource for merchants to check out brokers and lenders. You are a pimp who will not last in the industry
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02-02-2016, 02:35 PM #35
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02-02-2016, 03:01 PM #36
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02-02-2016, 03:29 PM #37
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02-02-2016, 03:38 PM #38
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- Jun 2013
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Jay runs a great company, and has a very solid team with him at Wall.
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02-02-2016, 03:44 PM #39
- Join Date
- Aug 2015
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- 30
A lot of talking going on about this deal, I understand where the intent to fund a 4th that high for a merchant could be questionable on ethics, but unless you know the entire situation about the merchant it really isn't a position to speak on the validity of being good or not for the merchant. All I'm going to say is healthcare, multi-location, $40+MM per year in revenue, but tax liens present and needed funds within 3 days because Medicare was slow paying a lot more than usual (got to love the govt).
The intent of the post is not gloating, it is just showing the abilities of good quality funders. We have had the same quality of deals funded by the guys at Pearl and YSC as well so I see nothing bad about them either, it's just we weren't of DF at the time those deals were funded or we'd give them a shout out as well.
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02-02-2016, 04:12 PM #40
New Favorite -- Wall Funding
Thanks Austin!
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02-02-2016, 04:19 PM #41
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- Aug 2015
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02-02-2016, 05:08 PM #42
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- Sep 2014
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Is definitely not even remotely questionable on ethics, because it ignores the lenders and their contract rights ahead of you. You can try to justify it all you want, but you and Wall both knowingly had a merchant sign contracts and take funds that violated the terms of lenders' contracts executed prior. If you placed the 2nd and 3rd too, you are a habitual offender.
This behavior is textbook tortious interference. If I were you, I would PM the admin and beg him to delete this thread so it can't be used against you in court when one of the prior three lenders, if not all of them, sue you in civil court. Not only does it have you confessing to the tort, but it also shows premeditation and a lack of remorse based on how vigorously you are defending your tortious actions.
Bonus: https://www.youtube.com/watch?v=xKGeHuln08A
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02-02-2016, 05:38 PM #43
No shame in the business when you are making $$$. Short sighted indeed
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02-02-2016, 06:14 PM #44
The way I see it as long as you fall under rule 501 of the Securities Act of 1933 you are good to go. lol
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02-02-2016, 06:15 PM #45
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02-02-2016, 06:53 PM #46
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- Aug 2015
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Who doesn't love some good ole Adam Sandler...
https://www.youtube.com/watch?v=3LAnmnS0-9gLast edited by Austin@SCP; 02-02-2016 at 07:05 PM.
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02-02-2016, 07:02 PM #47
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
New Favorite -- Wall Funding
I agree with credit guy. Anyone whose been in this business long enough knows which lenders have no stacking clauses. The minute a merchant tells me they have an advance with a lender I know has a no stacking clause I tell them I'm not their guy. But if they make enough calls they'll find someone who doesn't care at all about them and their well being who will happily stack them.
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02-02-2016, 07:05 PM #48
op: you want a 5th and 6th?
Anthony Diamond
Underwriter
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02-02-2016, 07:33 PM #49
- Join Date
- Jun 2015
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- 3,326
So beside for kalamata every lender will fund on top of regular financing. I have never seen an "A first position lender" ask to see terms on his bank loan or invoice factoring etc to see if they can " stack" on them . Now who decides where to draw the line . Is it the bank?the factoring company? The so called first position lenders ? The second position lenders ? Or companies like wall that will go what ever position as long as in their minds it makes sense for them and the merchant.
I have had enough of the double Standards and each thinking they know where to draw the line .
Bottom line it's the lenders money and the merchant decision on what they want to do . It is not the ISO job to be a moral compass on what to do
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02-02-2016, 07:53 PM #50
I have seen swift charge a fee on a stacking merchant. But no moral compass from the ISO to the lender from the merchant makes a weak foundation that even regulation cannot save.
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