[Kevin Henry-Seacoast]

I don't think you do, and it happens all day every day - show me one "senior" lender that stopped taking payments and just decided to put the account into default because the merchant stacked?

And I was referring to the second part of your previous statement "The Senior Lender can sue because in most cases all the assets are secured." - regarding the assets being secured.

If you have a 1st position lender that has their money structured more like a "loan" then ok, maybe some assets are secured. You are talking about stacking - 1st position lenders don't stack - anyone who stacks would most likely be MCA and is buying receivables and securing future receipts, not assets.

Let's all just be honest... it happens every day and some lenders try to sue, most don't win and for the most part no body does anything about it.

Merchants stack themselves, no lender puts the account into default and stops taking payments.

Corporate turnaround poaches MCA ucc's and commits blatant tortious interference, no one does anything about it.

So what is your point, really?

Buying future receivables or receipts are assets that may be secured by another party.

Most Senior Lenders either don't know their customer has taken a cash advance or have ignored it not to upset the relationship because the client is current on payments. If things go sideways, you can cool believe the senior lender or bank will defend their position.

[J.Celifarco]

Buying future receivables or receipts are assets that may be secured by another party.

Most Senior Lenders either don't know their customer has taken a cash advance or have ignored it not to upset the relationship because the client is current on payments. If things go sideways, you can cool believe the senior lender or bank will defend their position.

I am having a hard time following what you are trying to say. The whole reason MCA can charge what they do is because we are buying future receivables this is an unsecured transaction. Once it is secured you are subject to different lending guidelines and need licenses depending on the state. You cant have it both ways either it is a LOAN or it is an MCA but what you are describing sounds like you are trying to be both at the same time which you cant do.

Also please let me know what you mean by SENIOR LENDER

[Kevin Henry-Seacoast]

I am having a hard time following what you are trying to say. The whole reason MCA can charge what they do is because we are buying future receivables this is an unsecured transaction. Once it is secured you are subject to different lending guidelines and need licenses depending on the state. You cant have it both ways either it is a LOAN or it is an MCA but what you are describing sounds like you are trying to be both at the same time which you cant do.

Also please let me know what you mean by SENIOR LENDER

JC-We are Senior Lenders. We offer factoring facilities and asset based lines of credit.

[J.Celifarco]

I did not know that differentiated you from anyone else who helped facilitate funding for their clients. I dont think the products you offer makes any company different from another what matters is how the clients are treated and if the products and services they receive help or hurt them. No offense Senior Lender sounds like a title you gave yourself to make you sound superior to other people when you are doing the same thing as everyone else getting people money

[soscap]

I am having a hard time following what you are trying to say. The whole reason MCA can charge what they do is because we are buying future receivables this is an unsecured transaction. Once it is secured you are subject to different lending guidelines and need licenses depending on the state. You cant have it both ways either it is a LOAN or it is an MCA but what you are describing sounds like you are trying to be both at the same time which you cant do.

Also please let me know what you mean by SENIOR LENDER

I think what he is referring to is a true default such as blocking payments, hiding receivables... In those cases you can go after assists and are "secured"

[J.Celifarco]

I think what he is referring to is a true default such as blocking payments, hiding receivables... In those cases you can go after assists and are "secured"

what I read was a UCC with specific language to stacking which i did not think was possible , and SOS like you said most dont care which is why even if there is a magic UCC that people want to file it would require these companies taking the time to do a UCC search which i doubt they will do

[ADiamond]

Buying future receivables or receipts are assets that may be secured by another party.

Most Senior Lenders either don't know their customer has taken a cash advance or have ignored it not to upset the relationship because the client is current on payments. If things go sideways, you can cool believe the senior lender or bank will defend their position.

maybe a real bank, not an alternative lender. again happens every day no one does ****, all show and no go all talk and no walk