[J.Celifarco]

There is probably no worse time than now to open an ISO or become a lender with no industry experience.

way too late to a party that is already way to packed

[J.Celifarco]

debanked.com/2016/06/merchant-cash-advance-definitely-not-a-loan-new-york-judge-rules/

I agree with you that this win is good for the industry but to sit back and say wow good this is over because of one lower court ruling is a very naive way to look at the industry.. Instead of always trying to find excuses to condone poor practices how about look at your company and say how can we make ourselves better so we are not part of the problem. The companies that survive for the long term are the companies that are looking ahead now a putting a plan in place to adjust when regulation comes as well as trying to get into the conversation on in what form regulation should come in. To sit on the sidelines and hope is not a long term plan for success

[FUNd]

way too late to a party that is already way to packed

And even if you get in, every chick already has 30 drunk guys hitting on her.

[mcaguru]

I agree with you that this win is good for the industry but to sit back and say wow good this is over because of one lower court ruling is a very naive way to look at the industry.. Instead of always trying to find excuses to condone poor practices how about look at your company and say how can we make ourselves better so we are not part of the problem. The companies that survive for the long term are the companies that are looking ahead now a putting a plan in place to adjust when regulation comes as well as trying to get into the conversation on in what form regulation should come in. To sit on the sidelines and hope is not a long term plan for success

This is very simple a motorcycle is not an airplane. perhaps one day lawmakers can decide a motorcycle should be treated with same laws like a plane.

Now regarding looking ahead for all you know we are at the end stages of the drawing board offering the most conservative A paper funding products ever introduced to the market place... (for all you know we are not )

My point is the guys looking to hurt higher risk funders DO not realize that with a few tweaks we are in the A paper game~!

[NewFunder80]

Wow, seems like the only responses I got were "your in over your head."

One of my questions was answered though. So I do reinvest all these payment I'm collecting.

Can anyone help with the second set of questions?

Has anyone ever sued a merchant for default or fraud? How did the law suit turn out?

So far I have had two defaults. Other merchants that had returned payments have responded to calls and emails and I can usually get their payments back on track. Just curious how to handle the merchant that completely ignore you.

So far things are off to a good start, even had a merchant get another advance and the payoff wire was sent to my account.

Hopefully we can get some more positive responses this time.

Thanks

[FUNd]

Wow, seems like the only responses I got were "your in over your head."

Welcome to Daily Funder.

[J.Celifarco]

Wow, seems like the only responses I got were "your in over your head."

One of my questions was answered though. So I do reinvest all these payment I'm collecting.

Can anyone help with the second set of questions?

Has anyone ever sued a merchant for default or fraud? How did the law suit turn out?

So far I have had two defaults. Other merchants that had returned payments have responded to calls and emails and I can usually get their payments back on track. Just curious how to handle the merchant that completely ignore you.

So far things are off to a good start, even had a merchant get another advance and the payoff wire was sent to my account.

Hopefully we can get some more positive responses this time.

Thanks

MCA Recovery is the best for collections.. Reach out to Zach and he can set you up with collections.. And Good luck

[J.Celifarco]

This is very simple a motorcycle is not an airplane. perhaps one day lawmakers can decide a motorcycle should be treated with same laws like a plane.

Now regarding looking ahead for all you know we are at the end stages of the drawing board offering the most conservative A paper funding products ever introduced to the market place... (for all you know we are not )

My point is the guys looking to hurt higher risk funders DO not realize that with a few tweaks we are in the A paper game~!

and just like this guy you will be too late to the party and will not be able to get or keep enough market share to survive.. Also I doubt a company used to doing 1.45 60 day programs with a coj and fees will all of a sudden be content doing 1.25 12 month deals no fees no coj.. Dont see that happening

[NewFunder80]

MCA Recovery is the best for collections.. Reach out to Zach and he can set you up with collections.. And Good luck

Zack? What is the name of his company?

[J.Celifarco]

Zack? What is the name of his company?

MCA Recovery

[WhoisKingsley]

There is probably no worse time than now to open an ISO or become a lender with no industry experience.

Preach Fund. Preach.

I am all for assisting companies but if you don't "think" you need help, then your wrong.

By "help" I mean putting your ego aside and admitting you don't know 100% what you are doing rather than asking for a strait answer or connection to help you.

[mcaguru]

and just like this guy you will be too late to the party and will not be able to get or keep enough market share to survive.. Also I doubt a company used to doing 1.45 60 day programs with a coj and fees will all of a sudden be content doing 1.25 12 month deals no fees no coj.. Dont see that happening

Wholefoods has products they make higher profits than others..We would gladly look at entertaining other programs that have lower yields in time due..... if the top 3 high risk lenders open up to the A paper deals will have our market share in 3-4 business days. (capital is a non issue-In fact if this was 1866 we would have to dust off the capital every few days...thank god for banks I HATE dust!).

[FUNd]

Preach Fund. Preach.

I am all for assisting companies but if you don't "think" you need help, then your wrong.

By "help" I mean putting your ego aside and admitting you don't know 100% what you are doing rather than asking for a strait answer or connection to help you.

I always use the metaphor - even Peyton Manning has a coach, and Tiger Woods was constantly making adjustments to his swing.

[J.Celifarco]

Wholefoods has products they make higher profits than others..We would gladly look at entertaining other programs that have lower yields in time due..... if the top 3 high risk lenders open up to the A paper deals will have our market share in 3-4 business days. (capital is a non issue-In fact if this was 1866 we would have to dust off the capital every few days...thank god for banks I HATE dust!).

i have no idea what you are talking about

[mcaguru]

i have no idea what you are talking about

Nutshell:
High risk lenders have the ways and the means to open up to funding the A paper long term deals should the need ever be presented.

[FUNd]

Nutshell:
High risk lenders have the ways and the means to open up to funding the A paper long term deals should the need ever be presented.

There's need all over the place for good A tier funders with long terms, low factors, and healthy approval amounts. What there isn't a need for is more 2nd-10th position stackers that are ruining things for everyone.

[mcaguru]

Someone has fund the Millions of merchants that have low credit scores!! or the millions that has other issues ! Should a landscaping company with 501 credit score not be able to get capital ? its a free enterprise system and would gladly take the risk. (or high negative days or 3 months in business or to few deposits or etc etc).

[J.Celifarco]

Nutshell:
High risk lenders have the ways and the means to open up to funding the A paper long term deals should the need ever be presented.

I completely disagree out of all the nonsense 2nd-27th position stackers out there a very small few would have the capital needed to last doing deals that didnt turn in 3-4 months. Also the large majority would run when the returns go from 45% over 3 months to 25% over 12 or longer. Lastly to underwrite A paper deals you need a level of knowledge and understanding of credit and cash flow that these f paper companies just dont have. The large majority would have no idea what to do

[J.Celifarco]

Someone has fund the Millions of merchants that have low credit scores!! or the millions that has other issues ! Should a landscaping company with 501 credit score not be able to get capital ? its a free enterprise system and would gladly take the risk. (or high negative days or 3 months in business or to few deposits or etc etc).

I get those deals done on 5 month - 8 month terms at human factor rates and no coj's. Why would that company you just describe take a 3 or 4 month deal from you when I can get them more money at half the rate with half the fees

[mcaguru]

I get those deals done on 5 month - 8 month terms at human factor rates and no coj's. Why would that company you just describe take a 3 or 4 month deal from you when I can get them more money at half the rate with half the fees

majority of our fundings DO NOT require COJ's

[FUNd]

Someone has fund the Millions of merchants that have low credit scores!! or the millions that has other issues ! Should a landscaping company with 501 credit score not be able to get capital?

Yes, they should not. If you have a 501 FICO, you have in most cases made victims out of everyone and anyone who has ever been kind enough to extend you credit. You want to borrow money? Pound sand until you pay back the people you ALREADY owe money to.

[J.Celifarco]

majority of our fundings DO NOT require COJ's

ok still this company can take a 3 or 4 month 1.45 from you or a 6 month 1.35 or cheaper from me. With or without the coj you are giving this merchant a much worse deal then they can get at most funders in the industry

[mcaguru]

Yes, they should not. If you have a 501 FICO, you have in most cases made victims out of everyone and anyone who has ever been kind enough to extend you credit. You want to borrow money? Pound sand until you pay back the people you ALREADY owe money to.

That's our business to decide to give a lower than average credit merchant 100K (we do it all day) and pay our ISO a 5 DIGIT commissions.

[FUNd]

That's our business to decide to give a lower than average credit merchant 100K (we do it all day) and pay our ISO a 5 DIGIT commissions.

And is the merchant typically in a better or worse financial position after they are paid back?

[mcaguru]

ok still this company can take a 3 or 4 month 1.45 from you or a 6 month 1.35 or cheaper from me. With or without the coj you are giving this merchant a much worse deal then they can get at most funders in the industry

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