Quote Originally Posted by John Galt View Post
BS. They don't fund, they are only an ISO. The sales pitch is alluring like any of us. Then they will attempt to keep your renewals. Not a good choice.
Which reminds me of the "private investment bank hustle". These operations calling themselves private investment banks offering fantastic term sheets $5M term at 7% over 7 years, and the minute you sign the term sheet you have to send them a bunch of DD fees. They eventually say they can't fund (never intended to fund) but will use their "strategic partners" to provide funding. Ends up being a $500,000 cash advance from BFS or the like. If the client refuses because they wanted something more traditional, they find that a lien has been placed on th AR. To release the lien the borrower gets stuck paying thousands to the "private investment bank". This was popular years ago.