[miked]

seems like pretty big news that this guy steven mandis bought a stake in rapid. never heard of him before. How much of a stake did he buy? would be interested to know what rapid's company valuation was. It's also the first time in a long while that someone did a straight up equity deal. Everything is always a $10 million line of credit or something from a large bank. Mandis is a wall street guy it looks like. Where are the silicon valley VCs?

[MCAVeteran]

is there a link to this story online? its no secret that there have been rumor mills of companies selling in this space. what % equity did he purchase? Didnt MCC give up 30% to get capital in their company this year?

[Capital Stack]

Look at the press release section you'll find the link to the story.

Not sure what deal they did but I can tell you Steve is an outstanding individual. His reputation precedes him. His plans are extremely aggressive, and will help shape the industry in years to come.

A big congrads to Jeremy and the Rapid team. You can expect to see Rapid on Advance Me's coat tails very shortly.

[Chambo]

a "Sizeable Minority" stake....

Yes, Rapid will be making some major moves now that he's on board.

[Chambo]

is there a link to this story online? its no secret that there have been rumor mills of companies selling in this space. what % equity did he purchase? Didnt MCC give up 30% to get capital in their company this year?

they gave up 30% to stay in business...that was last year. BIG difference

[miked]

who bought 30% of mcc????? was their a release about this?

[Capital Stack]

comvest who also owns synergy data

[MCAVeteran]

Did you really say they will be riding on the coat tails of CAN? Its no longer just AMI, its New Logic and AMI = Capital Access Network-

http://www.capitalaccessnetwork.com/...latform-captap


I think its bold to say anyone will catch up with this company anytime soon, but, its a good goal to have i suppose-

[miked]

I think its bold to say anyone will catch up with this company anytime soon, but, its a good goal to have i suppose-

I keep hearing that over and over though. "we have this plan to be bigger than advanceme....." but it doesn't ever seem to happen. Then again who knows. Not everyone is really revealing their funding volume and I keep hearing bigger and bigger numbers about what everyone else is doing.

[miked]

In regards to MCC, there are several deals that were publicly announced and they all state they were debt deals, not equity.

The last PR i could find on it from October:
"Merchant Cash & Capital (MCC) has secured $25,000,000 in senior debt financing from Comvest Capital and Community National Bank. "

http://www.focusbankers.com/news/201...ng_for_mcc.asp

Can you show me a link that says comvest bought 30% of mcc?

[MCAVeteran]

all sorts of articles pop up when you google comvest and merchant cash and capital and cynergy. def articles state 100% of cynergy in BK was bought by comvest-

heres more interesting articles...

http://www6.lexisnexis.com/publisher...dDate=20121127

[Capital Stack]

I heard that deal was a debt equity combo, that release looks like the debt portion.

[Capital Stack]

That's right i did say it., Rapid has the infrastructure, and Mandis the capability and track record of larger plays than CAN.

[Chambo]

In regards to MCC, there are several deals that were publicly announced and they all state they were debt deals, not equity.

The last PR i could find on it from October:
"Merchant Cash & Capital (MCC) has secured $25,000,000 in senior debt financing from Comvest Capital and Community National Bank. "

http://www.focusbankers.com/news/201...ng_for_mcc.asp

Can you show me a link that says comvest bought 30% of mcc?

Not announced. Comvest secured the line for them BECAUSE they had the 30% stake. They took over for the bankrupt Cynergy Data. They shopped the portfolio around, but after there were no buyers, they decided to make lemonade out of lemons and secured them the line to protect investment.

[Chambo]

That's right i did say it., Rapid has the infrastructure, and Mandis the capability and track record of larger plays than CAN.

you forgot the money!

[miked]

mcc was owned by cynergy data?

[Chambo]

mcc was owned by cynergy data?

about 30% was, yes

[miked]

Geez, Rapid's got a hand in everything. Just saw a press release that said their ceo is going to have his own section on this website.

[MCAVeteran]

what do you mean his own section on this website? if this site is to remain neutral, that wouldnt make sense....

[Sean Cash]

MCAVet,

It is going to be a specific section of articles/blog posts. At the top navigation bar, there is a link that says 'CEO CORNER.' That's where a select group of CEOs are going to have a chance to share and write. Shouldn't sway the forum one way or another :]

[Chambo]

I REPEAT....famous last words

[MCAVeteran]

this site seems to be promoting one particular funder who seems to be a paid sponsor. We saw this already with the mcaforum.com site- oh well, on to the next site somebody comes up with.....good try

[Sean Cash]

this site seems to be promoting one particular funder who seems to be a paid sponsor.

MCAVet, if you're talking about Rapid, we were honored that their CEO would put in some time to share his knowledge and experience with the community on this site. We aim to have executives from other funders do the same.

Two companies run this board jointly, Capital Stack and Raharney Capital (which is my own company that operates Merchant Processing Resource.) One key difference between this new site and the other mca forums site is that we are trying to be as transparent as possible. We are reinvesting the revenue earned towards marketing efforts to attract an even bigger audience and community.

Capital Stack and I already have independent businesses so the idea of creating a forum to secretly promote some other funder over all the rest wouldn't make sense. I understand that there will always be suspicions of an ulterior motive but I think you'll see as time goes on that this site is being developed to help everyone in general.

Every major executive that wants to join the CEO corner and share, like Jeremy Brown shared will also get an announcement to go along with it. Rapid is probably the 2nd largest MCA funder in the industry and to have him write in his own words about what he believes is pretty cool. I think as others participate in the corner along with him, we're going to have something pretty special. Sure, they might get a lot of attention, but I don't see how that will diminish the conversation on this board.

Anyone can submit a Blog article in the navigation bar above. You'll get a link right back to your website to go with it, so long as it's not overly self-promoting.

We do welcome any feedback of course and everyone should feel free to speak their mind.

[miked]

If everyone is involved then I think it will be pretty neat. It did-does look a little Rapid-ish but overall if the heads-of-state so to speak of cash advance companies are on here, then I think it becomes a whole lot more beneficial than if it were just a bunch of account reps talking back and forth to each other.

Re: J. Brown's post
"One thing I think will be different next year are fewer deals offered over 12 months in payback period. When you look at the data over an extended period of time, 18 month term loans don't make sense for the merchants that are funded. It's not the most efficient use of funds, limits the ability for the merchant to renew and the longer term deals are far riskier."

You're hearing this from someone that definitely knows what they're talking about!

[Capital Stack]

Mcavet:

in addition to what Sean said, our goal with the corner is to have initially the top participants in the MCA space to provide there opinions and leadership insight into the industry. once that is completed we will include other CEO"s of factors, equipment finance, and other captains of different industries in small business financing.

Additionally you will see shortly a mobile app available through your smart phone devise. We are also creating in 2013 a place for podcast section for the CEO corner where they will be interviewed.

So expect some exciting enhanced value in our community DailyFunder.

Have a great year, 2013 will be huge for MCA!!!!!!!!!!!