Results 1 to 25 of 135
-
11-29-2016, 03:41 PM #1
Can Capital
Word on the street is all executives have either been fired or resigned and that they have stopped all funding indefinitely!!
What has everyone else heard?
-
11-29-2016, 03:45 PM #2
They seem to have plenty of employees not too happy with the company...
https://www.glassdoor.com/Reviews/CA...ws-E462009.htm
-
11-29-2016, 03:46 PM #3
Reputation points: 8659
- Join Date
- May 2014
- Posts
- 187
I was told by my rep yesterday that my approvals that were program letter 'D" are now all automatically declined.
-
11-29-2016, 04:01 PM #4
-
11-29-2016, 04:14 PM #5
Did wells pull line on all funders or just them? This confirmed?
-
11-29-2016, 04:21 PM #6
last I heard they were capped at 3 million a week in funding but havent heard any straight answers as to why. Isaac is that confirmed they lost their line at Wells
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
-
11-29-2016, 04:28 PM #7
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
-
11-29-2016, 04:29 PM #8
Reputation points: 8723
- Join Date
- Apr 2015
- Posts
- 159
Lost $25m first half 2016, no further fundings the rest of the year, focusing on collections only. CEO and 3 top level execs gone
-
11-29-2016, 04:29 PM #9Karen37aGuest
I cant get 4 payoff letters out of there
-
11-29-2016, 04:30 PM #10
Can Capital
The rumor mill is Wells is pulling out of The Can and BFS lines but the BFS line is unconfirmed
-
11-29-2016, 04:31 PM #11Karen37aGuest
Regulation smegulation. Now this is the result, A paper taking a hit like I said.
let me be nice to Isaac now...hey buddy hows it going
( just kidding )Last edited by Karen37a; 11-29-2016 at 04:35 PM.
-
11-29-2016, 04:35 PM #12
Reputation points: 8723
- Join Date
- Apr 2015
- Posts
- 159
Calling CAN now to see if they need a cash advance :]
-
11-29-2016, 04:38 PM #13Karen37aGuest
lol
-
11-29-2016, 04:40 PM #14
Reputation points: 2671
- Join Date
- Mar 2015
- Posts
- 90
-
11-29-2016, 04:42 PM #15
Reputation points: 134
- Join Date
- Oct 2016
- Posts
- 13
Lmao. Ill come in second !
-
11-29-2016, 04:45 PM #16
Reputation points: 3087
- Join Date
- Apr 2013
- Posts
- 117
A lender just can't pull a line unless the agreement was breached. It wouldn't surprise me if Can couldn't cure covenant breach. They have never been good operators. The suddenness is a good indicator. Accel has deep pockets but didn't step up? Credit performance must have been terrible.
-
11-29-2016, 04:47 PM #17
Time for debanked to go call funders with wells lines and see whats going on!
-
11-29-2016, 04:50 PM #18
Reputation points: 1538
- Join Date
- Jan 2015
- Posts
- 127
I dont believe the Wells line was pulled completely...I think its in the middle of serious negotiation process that took a turn for the worse very recently.
They are still funding their renewals but I think they are using December to REALLY clean up their act. Getting rid of their CEO was step 1.
-
11-29-2016, 05:04 PM #19
wasn't he recently praised and interviewed by DeBanked?
-
11-29-2016, 05:13 PM #20
Reputation points: 5023
- Join Date
- Apr 2015
- Location
- Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
- Posts
- 554
I did get payoffs but they sent them direct to clients.
-
11-29-2016, 05:14 PM #21Karen37aGuest
They are being regulated / watched/ reigned in for the fake bank accounts they set up.
FDIC/REgulators are all over them.
Call Warren BuffettLast edited by Karen37a; 11-29-2016 at 05:18 PM.
-
11-29-2016, 05:30 PM #22
Reputation points: 17416
- Join Date
- Jul 2013
- Posts
- 352
Maybe that SMART BOX wasn't so smart.
-
11-29-2016, 05:33 PM #23
this is more then just a restructuring. Multiple C level execs gone including CEO gone, fundings being delayed for weeks if not completely stopped, and a line being pulled. This is seems more like a wind down of the company as a whole. Everything they are telling people can just be putting a good face on it so that they are able to keep getting collections from accounts. If it is confirmed that they are closing there will be a run on all there deals like nobody has ever seen before. There is more going on here than any of us know it is just a matter of what exactly it is and how long it will be before we get the whole story
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
-
11-29-2016, 05:43 PM #24
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
Is CAN's website for sale yet?
-
11-29-2016, 05:45 PM #25
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
Similar Threads
-
Recently Funded Deals by SOLVE Capital (METRIX Capital is the lending entity)
By Harrymetrix in forum PromotionsReplies: 0Last Post: 03-31-2016, 02:36 PM -
Yellowstone Capital Green Capital Join Family of Companies Under New Brand, Fundy
By isaacdstern in forum Merchant Cash AdvanceReplies: 11Last Post: 10-01-2015, 02:07 PM -
Worldpay and CAN Capital Team to Offer Working Capital to Merchants
By Levi Lending in forum Merchant Cash AdvanceReplies: 3Last Post: 02-26-2015, 02:05 PM