[NewFunder80]

[QUOTE=Sachip24;50567]

Hello all,

I am glad a found this forum. I have found some of the information here very helpful. I wanted to share my experience and ask a few questions.

Our company started funded deals about 45 days ago. We are off to a good start so far. Over 10 deals funded so far.

Have two questions:

How do most funders handle cash flow? Meaning do funders usually "reinvest" collected monies into other advances or just wait until the advance finishes?

Defaults and fraud:

Had one merchant approved for an advance and then it appears closed the business down about 1 week later. Another merchant closed their bank account and has not provided another one.

How are you guys handling defaults? We are taking the collections route, calling and sending letters. At some point have any of you guys actually sued the merchant? How did the law suit go? Because the advance is under the state limit we were considering using small claims court. Just wondering if anyone has actually taken a merchant to court?

Or perhaps other funders are just writing off the debt and still turning a profit. I just hope that merchants cant just default and we have no recourse????

Advice please




I have now seen It all.

Perhaps you could give some insight, share some experience?