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  1. #1
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    Life after MCA Recovery?

    Hello-

    Just came across a merchant who has an Issue at one point with YSC, ended up entering into a MCA RECOVERY program, paid them back In full. Is this a death sentence in our space of finance, or does anyone know any lender willing to consider funding a merchant who has completed such a program.

    Thanks.

  2. #2
    Veteran Reputation points: 134971 Chambo's Avatar
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    why would anyone want to fund a merchant who defaulted? If MCA Recovery is involved, it means they blew off the funder long enough to have to send to collections

  3. #3
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    Makes sense. Thanks.

    Simple Choice Capital
    Info@simplechoicecapital.com
    www.SimpleChoiceCapital.com

    (o)1-646-829-1999
    (C) 1-347-733-3115
    (f) 1-347-448-5414
    "The Business owners Liaison to Finance"

  4. #4
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    LoanMe doesnt care about defaults

  5. #5
    Quote Originally Posted by ryan $ View Post
    LoanMe doesnt care about defaults
    Yep, they don't care about defaults...or much else....

    https://www.merchantmaverick.com/reviews/loanme-review/

  6. #6
    Senior Member Reputation points: 99227 ridextreme's Avatar
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    and a lot of brokers don't care about anything at all.

  7. #7
    Senior Member Reputation points: 50566 ADiamond's Avatar
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    Quote Originally Posted by TheChoice View Post
    Hello-

    Just came across a merchant who has an Issue at one point with YSC, ended up entering into a MCA RECOVERY program, paid them back In full. Is this a death sentence in our space of finance, or does anyone know any lender willing to consider funding a merchant who has completed such a program.

    Thanks.
    Sounds a lot like a rep sending a zero balance letter for an account that defaulted and has a judgment against it. "But theyre paid off..." Doesnt matter that they eventually restructured and paid, what matters is that they defaulted.

    There are funders out there however, that will fund a client who defaulted whether they do it knowingly or unknowingly.

    I've seen some top leaders in the B paper space fund $500k into a deal that defaulted years ago and I am sure this was done unknowingly.. I've seen others knowingly offer 5k @ 1.75 @ 20 pmts to "rehabilitate" the client.. you just have to know who to go to.
    Anthony Diamond
    Underwriter

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