[isaacdstern]

Thanks Jon...its all about surrounding yourself with top notch people.

I believe we have put together the best team in the business.

This is awesome Isaac!

I love how you spotlight your sales reps when they shine and also throw them additional bonuses. If I were to ever move out to the NY/NJ area, I would check you guys out .

[mcaguru]

The "Wolf of Pearl Street", coming soon to a theatre near you.

Scene switches from the "new Belfort's" spiff drawing, to Jonah Hill telling everyone that will listen that there's no difference between a merchant taking a fourth position and shopping at Walmart, "it's exactly the same!!!"

This movie... will be fantastic.

Carl -
Would not be surprised if that scene takes place in over 1000 companies across America a day, for 1 example i watch evrey Friday a well known restaurant/club line up 50 staff and have a rally how to service customers and maximize consumer TIPS) all across the board including Mortgage Companies to Insurance Companies, i don't see the connection to Stratton Oakmont that took 35 companies Public Syndicating Billions and then of course committing outright fraud schemes, stock manipulations, pump and dump (both sides) misleading financials the list goes on. yellowstone is a great story and acts in the line of law but on a Hollywood level they can choose from over 10,000 companies that have A Billion Dollar Market capitalization.

[Cfairbank]

Carl -
Would not be surprised if that scene takes place in over 1000 companies across America a day, for 1 example i watch evrey Friday a well known restaurant/club line up 50 staff and have a rally how to service customers and maximize consumer TIPS) all across the board including Mortgage Companies to Insurance Companies, i don't see the connection to Stratton Oakmont that took 35 companies Public Syndicating Billions and then of course committing outright fraud schemes, stock manipulations, pump and dump (both sides) misleading financials the list goes on. yellowstone is a great story and acts in the line of law but on a Hollywood level they can choose from over 10,000 companies that have A Billion Dollar Market capitalization.

Perhaps it does, and I'm not picking on Yellowstone. Regardless of my views on their product, they have clearly done an impressive job at growing their business. But for an industry that is operating under an increasingly intense microscope, posting these types of scenes can only bring unwanted negative attention to not only Yellowstone, but the broader space as well.

[mcaguru]

Perhaps it does, and I'm not picking on Yellowstone. Regardless of my views on their product, they have clearly done an impressive job at growing their business. But for an industry that is operating under an increasingly intense microscope, posting these types of scenes can only bring unwanted negative attention to not only Yellowstone, but the broader space as well.

I don't see anyone pointing fingers at a firm for having a productive end of month sales meeting!!

[ridextreme]

But for an industry that is operating under an increasingly intense microscope, posting these types of scenes can only bring unwanted negative attention to not only Yellowstone, but the broader space as well.

what kind of negative attention could a company pep rally bring into the industry?

[HDF]

what kind of negative attention could a company pep rally bring into the industry?

The resemblance to what went on in other industries that's what. And it puts a bad light on everyone. Makes it way too easy on some of these ill-informed government agency types to make irrational proposals and decisions. Like that woman up in Illinois. She'd love to run with this stuff.

[jotucker1983]

....But for an industry that is operating under an increasingly intense microscope, posting these types of scenes can only bring unwanted negative attention to not only Yellowstone, but the broader space as well.

The resemblance to what went on in other industries that's what. And it puts a bad light on everyone. Makes it way too easy on some of these ill-informed government agency types to make irrational proposals and decisions. Like that woman up in Illinois. She'd love to run with this stuff.

Lol, yeah but guys, nothing out of hand went on in the video? The video is designed to spotlight particular sales reps who went above and beyond their quotas set. That video in particular is the least of our worries from an industry standpoint.

What we ought to be focused on as an industry, are the merchants I sometimes run across who have 3 - 7 stacks, with 30% - 40% of their monthly gross sales going to payback advances. The merchants are literally in tears begging for help because their business is about to go under as a result of the stacks. It's these types of situations that are going to get us (as an industry) in trouble.

[HDF]

Lol, yeah but guys, nothing out of hand went on in the video? The video is designed to spotlight particular sales reps who went above and beyond their quotas set. That video in particular is the least of our worries from an industry standpoint.

What we ought to be focused on as an industry, are the merchants I sometimes run across who have 3 - 7 stacks, with 30% - 40% of their monthly gross sales going to payback advances. The merchants are literally in tears begging for help because their business is about to go under as a result of the stacks. It's these types of situations that are going to get us (as an industry) in trouble.

All ingredients in the same soup.

[mcaguru]

Guys please lets all give the regulators more credit then making laws and rules from a video. Think about sandy hook you had poor little precious adorable children gunned down (may they rest in peace in god's garden) and was NOT enough to get gun laws changed. Does anyone think lawmakers will Ban intelligent crafty and savvy Business Owners from choosing to sell a little of future sales for capital today based on a company's sales-meeting?

[Chambo]

if it as seen a predatory, and effects the current banking system? You betcha

[mcaguru]

if it as seen a predatory, and effects the current banking system? You betcha

effects current bank system ? I think when facebook goes up 1 Buck zuckerberg makes more then entire MCA space combined funding.

It tells me your Love to our industry but in the real world we are a little dot....Reminds me of the follwoing.... i once read in a little downtown town in Dakota on September 11 people stormed out of the only 4 floor building convicted they are going to be hit next.

[Cfairbank]

Lol, yeah but guys, nothing out of hand went on in the video? The video is designed to spotlight particular sales reps who went above and beyond their quotas set. That video in particular is the least of our worries from an industry standpoint.

What we ought to be focused on as an industry, are the merchants I sometimes run across who have 3 - 7 stacks, with 30% - 40% of their monthly gross sales going to payback advances. The merchants are literally in tears begging for help because their business is about to go under as a result of the stacks. It's these types of situations that are going to get us (as an industry) in trouble.

John, yep, I agree -- the issue isn't promotional videos: it's the stacks, it's transparency on cost, it's double dipping, it's debt cycles, it's UDAAP -- every one of these should have been "fixable" through self regulation, which the upmarket lenders are attempting to do -- but much of the higher risk cash advance space is slow to follow. For those merchants that are "in tears" because their business was ruined by stacks (and yes, we see that situation every day and most are too over-levered to help), it is easy to create the perception of hypocrisy if the largest second+ position provider in the space promotes videos of give aways with *literally* stacks of cash (pun intended). HDF said it well: it's "all ingredients in the same soup".

[Karen37a]

Hey , I worked at Stratton, the wolf of wall st and VTR Capital , investors associates and the other 5 names they used for a short time when I was in my 20's before I escaped to lesser pastures, never saw anyone I knew from there...I guess they all retired .

Reminds me of old times "crying" with out the midget tossing and the the massive mountains of C on the tables.

Congrats on a great month. Do those numbers include renewals?

Marcus where are you, did you beat those numbers ?

[mcaguru]

Lol, yeah but guys, nothing out of hand went on in the video? The video is designed to spotlight particular sales reps who went above and beyond their quotas set. That video in particular is the least of our worries from an industry standpoint.

What we ought to be focused on as an industry, are the merchants I sometimes run across who have 3 - 7 stacks, with 30% - 40% of their monthly gross sales going to payback advances. The merchants are literally in tears begging for help because their business is about to go under as a result of the stacks. It's these types of situations that are going to get us (as an industry) in trouble.

I am not with you on the number of position issue, it seems irreverent if a 1st position funder is taking 30% of his deposits or if its a handful of Advanced companies that together take 30%..... I guess the argument can lead all the way to the US Consumer Rental MARKET: Can landlord take 30% of a tenets Income for Rent. ( i believe millions give 50-70% of income to rent.... should Government decide that a business owner CAN NOT sell his future sales for a discount for upfront capital.

[John Galt]

Hey, I was next door at 82 wall.....then down here at Drexel in Mia Bch. We never did the dwarf throw though. Went legitimate after and became a ROP and BM.

[Karen37a]

BTW Marcus you used the analogy of someone giving a "tip" to a waiter...the tip doesnt bankrupt someone.

Use a more suitable analogy...like an extrmely huge "tip" to a stripper, guy goes home to his wife and kids, cant feed them.

It is what it is, and it aint what it aint...we are not saving the manatees.

Some people/merchants use the cash advances to help their business, some do not, some are honest, some lie. Same for the merchant cash advance broker.....in the end its not my money to lend and I wouldnt lend half of these people a nickle. They are lucky someone is willing to do it. I am just transparant, try to do whats right first, then work my way down the scale ..A paper B paper C paper D and hopefully get it priced accordingly.Some dont work that way thats fine for them.

Since traditional lenders tightened lending policies following the 2008 financial crisis, alternative lenders have helped fill the credit gap by providing much needed capital to small businesses.

So I sleep well at night and I know the lenders deserve the % of money they get and I deserve my commission because people default, expenses etc etc

No one is taking these risks and all the drama that comes with it for free.

That lady from Illinois can lend them her money.


Also you wouldnt rent an apt to someone for 5k a month who makes min wage. You know the result, non payment and eviction.

[HDF]

I am not with you on the number of position issue, it seems irreverent if a 1st position funder is taking 30% of his deposits or if its a handful of Advanced companies that together take 30%..... I guess the argument can lead all the way to the US Consumer Rental MARKET: Can landlord take 30% of a tenets Income for Rent. ( i believe millions give 50-70% of income to rent.... should Government decide that a business owner CAN NOT sell his future sales for a discount for upfront capital.

You really come across as a babbling fool. Not to be irreverent or anything.

[staten]

LOL its not the yellowstones of the world that are the ones committing fraud. That would be the lending clubs and PE firms in the space.

[Karen37a]

No one is committing fraud ...geezus, these merchants take advances out then complain when they over extend themselves or get tired of the payments.

I have 5 people complainging about various lenders ...i finally get tough and say " well you didnt send the money back, and you took a renewal so sht up"

not in those exact words lol

[Karen37a]

Ive helped these merchants pull all their advances into ONE, then they over extend themselves again because they feel they need to pay themselves a 300k salary or they work 20 hours a week. They say " thats why I opened my own company so I can do what I want"

Like a bad shark tank episode....pass . So thats the other side to the coin of helping these lunatic merchants. I still try though.

Then I think..." I need to be like my hero Marcus", just give them an advance , and buy property like the Monopoly game, Boardwalk and Park place ....next !...its the same result anyway.

** and I am half kidding because I like Marcus

[mcaguru]

GUYS CALM DOWN FOR A SEC.. the buddy who just walked into my office left school with $108,000 in student debt. they gave this poor kid 10% of a million dollars while his roommates did not trust him to borrow $5 bucks.

He said they handed him a sheet to sign without informing him he will be paying this off for his life and BTW the school that gave him the money is sitting on a few BILLION IN CASH......yes we need to wake up a little, I speak to merchants all the time they understand what they are doing and they usually complain (yep listen closely) that regulations and high taxes and employee health insurances is killing them and high rents that landlord need to charge because of high real estate taxes..the list goes on.

With that said bad apples are in evrey orchard and need to be removed.

[mcaguru]

You really come across as a babbling fool. Not to be irreverent or anything.

Simple. American consumers are paying a very large percent of Income to rent, my question is can the CFPB come in and say no longer can a landlord take 30%+ of monthly income from American consumers and start the regulation based on the death trap of never being able to save money because it goes to greedy landlords who even placed a video of them throwing a lavish party at the buildings leasing office.

[SCCNY]

30% of someones income is different than 30% of a business revenue. That 30% is probably higher than their profit margin which means over 100% of their income. Not really relative

[Karen37a]

Marcus,

Smart landlords do not rent out apts to people who cant afford them. And peoples income after taxes is used as a calculation to figure out how much rent you can afford. And if you do not pay you get evicted toot sweet. it isnt a loan or advance where you owe someone big money $$.

Also people are not taking out 3 apt leases in various locations simultaneously equaling 50-70% of their net income after taxes.

A landlord will not rent to someone with a 500 credit score and minimum income, an apt on the upper east side and also a villa in the hamptons and a condo in vail colorodo it is a recipe for failure.

no one is complaning about MCA advances.

Its about responsible lending and stacking that people are complaining about.

If people have a grab it and go mentality...fine. Everyone makes their choices.

Trust me I can sell anyone anytime. I choose not to. Not that the lenders are all doing it,because they will have defaults.. but some cash advance brokers/lenders I know would sell their grandmother out for a mercedes.

( and it isnt just cash advance brokers, people in general no matter what industry )

And the merchants will sell you out too.

Back to my point always >>thats why we get paid the big bucks

[isaacdstern]

Everyone has an opinion on my way of doing things but it all boils down to this....my guys and girls work their tails off to get to where they are today and I love showing mine and the firms appreciation for the dedication they show. Some of them work 60-70 hours a week doing their best to get their merchants and ISos the best deals out there. Yes my sales meeting are fun and exciting for the sales guys who are the top producers......they earn it!! I am extremely proud of my team for the incredible numbers we put up in August and I'm hoping we can beat them every month going forward!! Have a great Labor Day everyone!!