[J.Celifarco]

guys be sure what you say before you post it. Could we not be a bunch of gossips. If you post something know that it is true. Marcus dont you got something better do like fund deals rather then stir up sh*t

[mcaguru]

guys be sure what you say before you post it. Could we not be a bunch of gossips. If you post something know that it is true. Marcus dont you got something better do like fund deals rather then stir up sh*t

I agree. I heard something that was hard to digest and thought perhaps others would know.

[Zach]

--

[mcaguru]

zacccccccchhhh!! (whats true ? )...

[John Galt]

POWERUP especially Charlie Mayo is just a rip off backdooring company. I heard they lost close to 28 mill in renewals and had over 35% in defaults this year. Just a moment in time before they become a Can/Dealstruck but with less credibility. GArbage, Garbage co.

[Zach]

zacccccccchhhh!! (whats true ? )...

It's true Marcus...


I did save 15% or more by switching to GEICO.

[golf2014]

Agreed on powerup..lots of back door deals.

[Chambo]

It's true Marcus...


I did save 15% or more by switching to GEICO.

you referring to a certain someone defaulting on their Wells Fargo line?

[Zach]

you referring to a certain someone defaulting on their Wells Fargo line?

I didn't hear about that

[WestCoastFunding]

ochh you sure ?

Yep. Merchant came to me specifically looking to take advantage of the Powerup buyout offer. I looked at his banks and they were solid. Seemed like the type of merchant most funders would do anything to keep. So when they're offering quality files 30% discount, somethings up.

[MCNetwork]

And I'm noticing nowadays that funders are quick to provide payoff letters. Not too long ago, getting a payoff letter was like trying to break into Fort Knox. Nowadays, everyone is just looking to get PAID!

[Michael I]

And I'm noticing nowadays that funders are quick to provide payoff letters. Not too long ago, getting a payoff letter was like trying to break into Fort Knox. Nowadays, everyone is just looking to get PAID!

yeah but they are still being greedy with the early pay off discount is only if merchant pays off himself

[WestCoastFunding]

With the way stacking is going, no one wants to be in the 1st position. They want to get in, and get out before the business starts defaulting. Been getting responses from funders that they aren't comfortable funding a specific file in 1st position, but would gladly do a 2nd once a 1st is in-place from another funder.

[mcaguru]

And I'm noticing nowadays that funders are quick to provide payoff letters. Not too long ago, getting a payoff letter was like trying to break into Fort Knox. Nowadays, everyone is just looking to get PAID!

are you sure that's a fact ?

[mcaguru]

With the way stacking is going, no one wants to be in the 1st position. They want to get in, and get out before the business starts defaulting. Been getting responses from funders that they aren't comfortable funding a specific file in 1st position, but would gladly do a 2nd once a 1st is in-place from another funder.

We love first position deals....

I think from the above comments its clear the saying applies in High Risk FUNDING ...first came the innovators then the imitators and then came the idiot (unlike other industries were you can practice on a prototype with mca beta testing can be extremely costly and put you under pretty quickly)..Not knocking those that are getting into High Risk but like they say at the circus DO NOT TRY THIS AT HOME......I get calls all the time from newer HIGH RISK guys in a panic holding the handle of the bag trying to figure what happened to the rest of the bag.

[NoBigDeal]

yeah but they are still being greedy with the early pay off discount is only if merchant pays off himself

Can you blame them?

[NoBigDeal]

With the way stacking is going, no one wants to be in the 1st position. They want to get in, and get out before the business starts defaulting. Been getting responses from funders that they aren't comfortable funding a specific file in 1st position, but would gladly do a 2nd once a 1st is in-place from another funder.

Are those funders Prime guys shying away from first positions? Or it's B paper and lower to begin with? I'm not agreeing with the rationale, but if it was a B or lower funder, I could understand where they're coming from

[aredmond]

And I'm noticing nowadays that funders are quick to provide payoff letters. Not too long ago, getting a payoff letter was like trying to break into Fort Knox. Nowadays, everyone is just looking to get PAID!

Haha, Funders are basically like "Thank god you called I have had this payoff letter sitting in a draft for weeks now, click. Check your inbox"

[Michael I]

Can you blame them?

no but they need to get smarter. The merchant was getting a consolidation to pay off 5 loans . Lenders should be taking the money and running. Instead lender wanted full pay back since it was not coming from merchant. When the situation was explained to them they hit him up with a stacking fee .
end of story he said f.. it and now has a judgement on him.

[WestCoastFunding]

Are those funders Prime guys shying away from first positions? Or it's B paper and lower to begin with? I'm not agreeing with the rationale, but if it was a B or lower funder, I could understand where they're coming from

It's definitely the B guys. It's just weird to get a response that they love the file, but want someone else to fund first.

[Karen37a]

sales 101. When someone asks you a question ask one right back. you either gain control of the conversation or they go silent, they usually dont just breathe on you on the phone or stare in real life. If they do, do not speak
move towards the "yes".


since you brought up the topic what have you heard?? ( I am not sure I am just posing a question)

Why would you pose a question without having a rhyme or reason to it? ( I thought it might make for interesting conversation)

So in other words you are bored or fishing? ( yes )

Exactly my point. Pick up 1000 shares you will be glad you did. (<< this is me being sarcastic I am not a stockbroker or investment advisor).Great so what time would you like me to come by where you and your husband can be there together ... I mean.......... Great so send the documents, I have your email at ThisisGroundhogday.com ( I forgot what product I was selling because its all the same )

Top down sales script 5 questions to the yes in mca

[WestCoastFunding]

Haha, Funders are basically like "Thank god you called I have had this payoff letter sitting in a draft for weeks now, click. Check your inbox"

Except for YSC. And it seems like their accounting is always a week behind.

[FFunding]

BizFi?

[KINGCASH]

They're mainly in the market now of publicly traded penny stock companies.

[NoBigDeal]

no but they need to get smarter. The merchant was getting a consolidation to pay off 5 loans . Lenders should be taking the money and running. Instead lender wanted full pay back since it was not coming from merchant. When the situation was explained to them they hit him up with a stacking fee .
end of story he said f.. it and now has a judgement on him.

That situation really sucks for the merchant. I'm definitely with you on that. IMO, the funder shouldn't charge the additional stacking fee, especially if they're getting paid off (but it's not my contract that the merchant signed), however, I don't believe the funder should have to honor a pre-pay discount to a merchant who's looking to get "bailed out" by another funder