Results 51 to 75 of 158
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01-16-2017, 10:22 PM #51
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01-17-2017, 08:58 AM #52
- Join Date
- Nov 2014
- Location
- NYC
- Posts
- 187
David Obstfeld
Chief Executive Officer
SOS Capital
1330 Ave of the Americas, NY, NY 10019
212-235-5455
SOSCapital.com
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01-17-2017, 09:18 AM #53
- Join Date
- Apr 2013
- Posts
- 117
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.
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01-17-2017, 09:38 AM #54
- Join Date
- Jan 2017
- Posts
- 116
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.
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01-17-2017, 10:18 AM #55
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01-17-2017, 11:16 AM #56
- Join Date
- Oct 2016
- Posts
- 4,318
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01-17-2017, 12:49 PM #57
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01-17-2017, 01:20 PM #58
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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01-17-2017, 01:31 PM #59
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01-17-2017, 01:32 PM #60
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01-17-2017, 01:37 PM #61
- Join Date
- Mar 2016
- Posts
- 42
It didn't work for me either :/ are you putting in an incognito window?
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01-17-2017, 01:59 PM #62
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.
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01-17-2017, 02:27 PM #63
- Join Date
- Aug 2016
- Posts
- 118
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
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01-17-2017, 02:30 PM #64
- Join Date
- Oct 2016
- Posts
- 4,318
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01-17-2017, 02:35 PM #65
it's not fine if they ever wanna take money from anyone again in the future.
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01-17-2017, 02:42 PM #66
- Join Date
- Jun 2015
- Posts
- 3,325
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01-17-2017, 02:57 PM #67
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
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
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01-17-2017, 03:12 PM #68
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01-17-2017, 03:45 PM #69
- Join Date
- Oct 2016
- Posts
- 4,318
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.
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01-17-2017, 04:07 PM #70
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01-17-2017, 05:19 PM #71
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01-17-2017, 05:47 PM #72
- Join Date
- Jan 2015
- Posts
- 127
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01-17-2017, 06:01 PM #73
- Join Date
- Sep 2014
- Posts
- 430
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.
"Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
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01-17-2017, 06:34 PM #74
- Join Date
- Jan 2017
- Posts
- 116
Everyone here seems rather optimistic CAN will somehow survive. Why is that? Explain please.
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01-17-2017, 07:43 PM #75
- Join Date
- Jun 2015
- Posts
- 3,325
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