I'm trying to see if there's any truth to this.

Spoke to a prospect today who has an offer from a MCA company for $1.3MM over 2 years. Here's the kicker: he doesn't own the firm. In fact he's about to buy it and they're advancing him the funds on the day he closes.

I never heard of these types of deals. Is it real? Can any lender out there compete on this??