[MCNetwork]

shes deff a female !

Yeah that's what I thought about Yuliya lol!

[Michael I]

Yeah that's what I thought about Yuliya lol!

lol . you want me to set you up with her on a date . fund might be with that roman chick now lol

[Karen37a]

lol I am a woman

[CreditGuy]

Pics or GTFO.

[anonymous]

Lol

[Karen37a]

LOL


When I was a kid and started working on wall st I couldn't afford the $50 a day parking fees ( they auctioned them off and the high bidders got them). I parked allllll the way down by front street and the docks..near the fish mongers.

id be walking late and night and guys would be hooting offering me a few dollars ( there were prostitutes down there then).

Id be yelling ....I am not a prostitute I am a Stockbroker dammitt !! Then id think...wait..i take that back I am just more expensive and its commission for stocks and venture capital.

[NewWay ISO]

wtf lady

[NewFunder80]

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.

[NewWay ISO]

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

[CreditGuy]

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.

[jfeinberg]

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?

[anonymous]

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...

[MCNetwork]

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.

Tell that to On Deck (hopefully you know who they are)

[Funder Mark]

I am starting to think this was all a joke, to see who would believe this guy.

[NewFunder80]

This is not a Joke.

And yes I know who On Deck is, what happened with them?

[Funder Mark]

This is not a Joke.

And yes I know who On Deck is, what happened with them?

They have an incredibly high default rate, according to people in the know. We are suggesting that your default rate is high, and you will likely be losing your investors money.

[skideeppow]

This guy just PM'd me, I tried to be nice and said i am not interested in sending him deals. He asked why not. Well i told him the truth. Which is he is a hack and i dont need to be sending my stuff to some idiot who knows nothing about the industry.

[Funder Mark]

Whats his default rate these days? SMH, that guy had my entire office laughing...

[biggr]

Just speechless !!!

[NewFunder80]

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.

[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?

[PJLamar38]

Do you fund Car Dealerships? Do you offer weeklies? What ACH service do you use? Do you offer 2nd positions etc? Rate/terms? What is the point of you posting once a month like a diary?

[MCNetwork]

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.
.

This is a common phenomenon known as losing your client to another competitor. Smh

[NewFunder80]

This is a common phenomenon known as losing your client to another competitor. Smh

Lol, I guess that's one negative way of looking at it. Although one of the merchants did call back asking if he could get another advance. He did pay in full, but at this point there was just not enough room for another position.

Lamar- No specific point I'm trying to make by posting, just sharing experiences on an open forum. I have funded one car dealership, I would like to fund more. I do go out beyond just first positions, but there has to be room and/or cash flow for an addition position. I have done both weekly payments and daily payments.

[MCNetwork]

Lol, I guess that's one negative way of looking at it. Although one of the merchants did call back asking if he could get another advance.

That's the ONLY way to look at it. Customers don't pay off their cash advance early unless there is a big prepayment discount or they won the lottery.