Results 1 to 5 of 5
-
07-15-2021, 08:46 PM #1
- Join Date
- Jun 2017
- Posts
- 2,049
Fraud Merchants with nothing but EIDL, PPP Funds
Is it just me.... Or has everyone else been seeing quite a few Business that literally have No Revenue except SBA Treasury, and PPP loan deposits.
It's like a whole bunch of fraudulent people got money by scamming the government and then trickled down to our Industry somehow (most likely submitted somewhere that brokers SBA PPPs and MCAs) and when we call asking if they need money they just keep going with the Scam. Had one file today, 200k, 100k and another 200k, one big deposit in each Monthly Statement followed by nothing but transfers out. No Payroll,No expenses besides Normy account usage like Restaurants, and other Purchases.
-
07-16-2021, 09:56 AM #2
- Join Date
- May 2021
- Posts
- 34
LOL, we get these all day, newbie reps bragging in the office that they're getting high rev files before actually reading the banks...….
-
07-16-2021, 12:07 PM #3
-
07-16-2021, 01:38 PM #4
- Join Date
- Feb 2018
- Posts
- 1,349
there were a bunch of scammers with PPP. Wouldn't be surprising to see any of that trickle to MCA.
-
07-16-2021, 02:32 PM #5
- Join Date
- Jun 2017
- Posts
- 2,049
Similar Threads
-
EIDL loans $10k grant/advance through the EIDL program ANYONE??
By brokerCompany in forum Business LoansReplies: 4Last Post: 08-04-2020, 07:22 PM -
EIDL loans $10k grant/advance through the EIDL program ANYONE??
By brokerCompany in forum All Other LendingReplies: 0Last Post: 04-05-2020, 12:07 AM -
ANYONE funds merchants with ITIN# no SS
By Money$Mike in forum Merchant Cash AdvanceReplies: 9Last Post: 04-09-2019, 11:23 PM -
Who Funds Negative Background Merchants?
By dailyfunderppt in forum Merchant Cash AdvanceReplies: 15Last Post: 09-25-2018, 02:23 PM -
Who funds merchants in Hawaii?
By SupremeClientele in forum Deal BinReplies: 9Last Post: 10-14-2015, 03:10 PM