[Michael I]

Hello all,

As you can read from my other post I recently started funding merchants with my own cash back in May 2016. So far I have funded about 28 advances. Several had already paid in full. 2 merchants defaulted and I have one that has stop paying, so it may be a total of 3 defaults. This merchant was over 50% paid in before he stopped paying, so id say it's a "lessor" default. :-)

Overall I guess I would say it's been pretty good. If just 30%-40% of my active merchants paid back I would be profitable. I was very surprised when some merchants paid off early, I would send a payoff letter and then I would have a nice chunk of money in the bank account day's end. Other merchants are steady payers, recently funded a merchant with open bankruptcy and merchant made every single payment on time.

So I guess some of you are laughing at me, I guess that's because I'm small and I decided to start my own. I guess I don't know as much about this business as some of you. But I think I will soon.

You see I recently sold some of my business assets for another company. Received a nice check. I wonder if people were laughing at me when I started that business several years ago. Lol then again I guess it doesn't really matter.

I'm usually smiling and laughing all the way to the bank.

I welcome the input and advice of those that would like to post and share their experience.

So what is the name of your company and your guidelines?