[Sean Cash]

Can you possibly post the entire article, I am not subscribed to the WSJ.

not without risking a copyright infringement claim.

[soscap]

http://debanked.com/2017/01/can-capi...xpensive-tire/

[staten]

AAA reference was great Sean. I think the Company would have a much better shot at survival if they just admitted that the 3 executives committed fraud. They are calling the operating model into question (a well run mca company can make money), when they should say that they removed the executives who committed fraud. Take a page from the lending club book.

[GSilverman]

Looks like Little Underwriting, No Merchant Interviews, No Site Inspections, Not Caring About NSFs and Negative Balance Days, Lowest Rates in the Industry, The Retention Calculator (Retention!!!!?), 2 Pt Sales Bonuses, Sharing Offices with Future Competitors, Taking a Line of Credit from a Future Competitor, Bloated Management Layers in Multiple Facilities and then Selling These Loans in a Package to Institutional Investors IS A BAD BUSINESS MODEL.

[morgan.quinn]

Can you possibly post the entire article, I am not subscribed to the WSJ.

(If you copy the story headline, open a new browser, and paste it into a Google search the original article link will work and the full article will appear. Works with most subscription sites)

[WestCoastFunding]

(If you copy the story headline, open a new browser, and paste it into a Google search the original article link will work and the full article will appear. Works with most subscription sites)

Looks like WSJ got back-doored.

[ridextreme]

it doesn't work

[mcaguru]

Can you possibly post the entire article, I am not subscribed to the WSJ.

Just a joke no connection to your request.... i had an old uncle Irving that was so upset with a negative New York Times oped on is Israel that he wrote a letter to the editorial board that if they don't apologize he WILL NEVER borrow the paper from his neighbor again!!

[morgan.quinn]

it doesn't work

Try again An old poor-grad-student research trick lol I made sure it still worked before posting

[morgan.quinn]

Looks like WSJ got back-doored.

BI first posted about this trick in 2008! I'm surprised online outlets have never addressed it, but I'm not complaining!

[jcoop]

It didn't work for me either :/ are you putting in an incognito window?

[morgan.quinn]

I had to close all tabs and browsers and open a new window. It also helps if you clear your history. You can also try pasting the URL into a search rather than the story headline. For those of yall that reeeeally want the text PM me. Happy to copy and paste for ya.

[gail_waters]

My merchant that owed can 36k, said they want to payoff can but can only do 25k, can agreed but sent them a settlement letter and said they cant provide a payoff but if the 25k is paid will provide a zero balance letter and wont affect there credit in any bad way

[WestCoastFunding]

My merchant that owed can 36k, said they want to payoff can but can only do 25k, can agreed but sent them a settlement letter and said they cant provide a payoff but if the 25k is paid will provide a zero balance letter and wont affect there credit in any bad way

That CAN settlement letter looks a lot like a Default letter and freaks out other funders at first. But it's fine.

[ridextreme]

it's not fine if they ever wanna take money from anyone again in the future.

[Michael I]

it's not fine if they ever wanna take money from anyone again in the future.

and why is that ? leave aside ethics , if nothing hits their credit and they get a zero balance letter . Which lender wont approve it ?

[J.Celifarco]

as long as you get a zero balance letter you are good, just make sure you can get one because without it you wont be able to get them funding again

[ridextreme]

and why is that ? leave aside ethics , if nothing hits their credit and they get a zero balance letter . Which lender wont approve it ?

because they will still owe CAN 12K, and CAN already said they will not provide a zero balance letter unless it's paid. And settling for less than the agreed total is even worse then not getting a payoff letter. They will never be able to get money again.

[WestCoastFunding]

because they will still owe CAN 12K, and CAN already said they will not provide a zero balance letter unless it's paid. And settling for less than the agreed total is even worse then not getting a payoff letter. They will never be able to get money again.

Why would they owe them? This is simply a negotiated settlement to payoff early. In return for paying off early CAN simply agrees to take a haircut (as theyve been offering for a long time).

I literally had a client that owed CAN $76K and got CAN to agree to $60K so the merchant could meet the 50/50 split on a new $120K advance from another funder. They had no problem with it, nor did the new funder.

CAN needs money, and will take a haircut to reduce their risk and bring in cash. They'd rather take a small haircut, then risk being stacked right now.

[Funder Mark]

because they will still owe CAN 12K, and CAN already said they will not provide a zero balance letter unless it's paid. And settling for less than the agreed total is even worse then not getting a payoff letter. They will never be able to get money again.

If it was a cash advance, then CAN bought their future earnings at a discount, and now the merchant bought the future earnings back at a discount.

[ridextreme]

If it was a cash advance, then CAN bought their future earnings at a discount, and now the merchant bought the future earnings back at a discount.

lol try to explain that when that stip comes up in his next funding

[mcg168]

Why would they owe them? This is simply a negotiated settlement to payoff early. In return for paying off early CAN simply agrees to take a haircut (as theyve been offering for a long time).

I literally had a client that owed CAN $76K and got CAN to agree to $60K so the merchant could meet the 50/50 split on a new $120K advance from another funder. They had no problem with it, nor did the new funder.

CAN needs money, and will take a haircut to reduce their risk and bring in cash. They'd rather take a small haircut, then risk being stacked right now.

Not that this will be the biggest concern, especially right now, but they will never be able to get money from CAN again. They will be labeled as 'Negative History - Settlement'

[CreditGuy]

I wouldn't lend money to someone that settled a prior debt, if it was provable. If the zero balance letter or payoff or whatever docs are generated say that it is paid for less than full amount, etc. that borrower is getting declined.

[GSilverman]

Everyone here seems rather optimistic CAN will somehow survive. Why is that? Explain please.

[Michael I]

Everyone here seems rather optimistic CAN will somehow survive. Why is that? Explain please.

Why do you think they won't? Their book is huge . Also look at on deck