New Underwriter/Funder. About 45 days in.
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  1. #1
    wtf lady

  2. #2
    Hello all,

    Its been some time since I posted. I have read your responses, basically I still get the feeling you all are saying I'm in over my head. Well I have time and money invested into this now so I intend to follow through. So far things have been pretty good.

    The company has funded 17 advances and only 2 have defaulted so far, again one paid off early as I believe they were funded by another company. Had I few payments returned, but most merchants got back on track. I understand the saying, its easy to fund but hard to collect, or something like that.

    I am reinvesting the payments collected so at this point I'm kind of all in. I assume some companies have to be making money in this business or everyone would be shut down by now. I'm hopeful everything will go well.
    Last edited by NewFunder80; 07-04-2016 at 07:37 PM.

  3. #3
    Did you F*** sit down with a lawyer already?????
    And btw what's your company name, my brother needs desperately a cash advance?

  4. #4
    Senior Member Reputation points: 16720
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    Quote Originally Posted by NewFunder80 View Post
    Well I have time and money invested into this now so I intend to follow through.
    12% of your deals so far have defaulted. That number goes up as your vintages season. That you have money and time in isn't a great, or even a mediocre, reason to stay in. Following through is an act of hubris, not wisdom.
    "Nobody can make you feel inferior without your consent." -Eleanor Roosevelt

  5. #5
    Senior Member Reputation points: 17365 jfeinberg's Avatar
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    Quote Originally Posted by NewFunder80 View Post
    Hello all,

    Its been some time since I posted. I have read your responses, basically I still get the feeling you all are saying I'm in over my head. Well I have time and money invested into this now so I intend to follow through. So far things have been pretty good.

    The company has funded 17 advances and only 2 have defaulted so far, again one paid off early as I believe they were funded by another company. Had I few payments returned, but most merchants got back on track. I understand the saying, its easy to fund but hard to collect, or something like that.

    I am reinvesting the payments collected so at this point I'm kind of all in. I assume some companies have to be making money in this business or everyone would be shut down by now. I'm hopeful everything will go well.
    What is your company name?

  6. #6
    Banned Reputation points: 17587
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    Quote Originally Posted by NewFunder80 View Post
    I am reinvesting the payments collected so at this point I'm kind of all in. I assume some companies have to be making money in this business or everyone would be shut down by now.

    ...that's not a business plan. hopefully you didn't raise the capital through friends and family...

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