[Adam2326]

Unfortunately it has become a legal case now.

While Adam isn't lying, he is omitting some key facts.....

From my perspective... We were paying Adam back. I was continuing to funnel deals through him to fund with funders we don't work with, knowing we would be taking a hit on commission, as well as sending him deals to fund in house (and not taking commission). Along with making payments to him, I was (against advice and direction) continuing to essentially get him paid off quicker by any means necessary. The issue that essentially ruined the relationship was 2 pronged (2 deals). Deal #1 was a deal Adam Funded with us, a while back. Deal #1 was up for renewal, we let Adam know but basically handled it in house, got updated statements, sold the offer, and let Adam know about it. Deal #2 was a New/Current deal I funded through Adam... When Funding this deal we made an agreement that Adam would keep XXX Percentage as the Co-Broker and another XXX holding back from what is owed to him, and he would pay out the rest (enough to pay the rep on the deal essentially).

On Deal #1, Because we did everything, we pay out 50%. It is what it is, it is the way it has been and way it will always be. Every Funder is different, some Funders will pay out 100% even when they handle the renewal, some will do 50%, and some wont do anything and leave it up to the ISO to reach out for renewals, if its done in house by the funder the ISO will never know about it. In any case.....this pissed Adam off.... and he proceeded to "Pull Back" "Cancel" REVERSE, whatever you want to call it....the commission he sent for Deal #2.

That got things a little tense... but we were still talking trying to work things out, at least I was.

Then, Adam tried pulling ACHs out of our account. In Various amounts, many many times. Causing Negatives, inflicting damages. So on and so forth. The most recent one was a week or so ago.

I can't continue trying to work on a situation, with someone that is doing these things. It went to a point where theres just no justifying the things Adam was doing.

I wont be commenting anymore on this, it's in the lawyers hands now, its just unfortunate what happened here.

It is a very unfortunate situation. SBL Funding owes my company upwards of $60,000 at this point with damages and made an effort to send me $1,000 by Cashapp. Told me to debit their account weekly and cancelled all of these debits. Then James tells my collections agent that he has never heard of me or my company and has no knowledge of owing me any money, even though a chain of texts, emails, and call logs were provided. The debt has never been denied by any parties at SBL until recently when things started getting serious.

SBL Funding LLC stole syndication funds, that is a financial crime.

SBL Funding LLC refused to pay commissions, after making a string of stories as to how they never received the payments - all of this was lies.

James Delices the owner of SBL Funding LLC is putting all of the blame on Ryan Pasco as if he is some rouge employee running around embezzling funds for drug addictions and gambling habits as he described. But continues to employ him.

Deal #1: A deal was renewed, we were asked to provide the updated bank statements and help close the deal but regardless of that there was never an agreement to share any additional commission with SBL on renewals. The ISO agreement clearly states "In House Funded Deals" or instances where SBL purchases future receivable's and renews their contract, they will take a 50% share of the commission. This was a superbrokered deal and SBL had no right to withhold 50% comp especially when you have a tab with my company.

Deal #2: James begged me to pay out a piece of the commission on this deal and I agreed right up until I was told my company wouldn't get paid the agreed upon commission split of another deal - at that point no more favors. You got paid the full commission on this deal, but the payment went to your bill not your pocket.

SBL sent over a couple crap files, and earned a $300 commission outside of the 1 other deal funded in a superbroker position that you were credited for. This effort to repay the funds owed to my company consisted of a total now of $3,000 paid. And I'm sure that would be reversed at this point as well if you could get Cashapp to pull back money.

Moral of the story here is SBL Funding LLC, James Delices, & Ryan Pasco are all in some really bad type of way right now. They're both making up fun stories about how the other person is responsible for stealing money from our company, pretending to pay it back just to appease the situation until they can make up a new story and steal the money back again.

I would assume anyone working with SBL too closely will get hit with the backlash of this house of cards falling down in the coming months so don't say you weren't warned.


I will also clarify I am not trying to say we didn't do anything wrong here. We got too comfortable working with what I thought was a solid reputable company and we got burned. We could have tightened up things to make it more difficult to get screwed over in this whole situation, but that does not change the fact that SBL took full advantage of the opportunity to steal from us. A crime of opportunity is still a crime.