[vloforti]

The LOC scam is way out of control. These damn crap ass brokers convince good merchants to take **** deals because they don’t have access to good funders. Makes a real brokers job just that much more difficult

[FundingCaptain]

It doesn't help that the shady brokers are coaching the merchants on every aspect (especially the merchant interview) to try and get funded. On our merchant interview we ask the merchant if the broker promised them additional funding after taking our advance. we then further explain that there are brokers taking the money from the advance in promise of a large bank loan and then not come thru on their empty promises.

Unrelated but in the same shady lane, I had a merchant call in 2 weeks after getting funded, asking to reduce his payments. The Shady iso had told him to call in 2 weeks later to reduce the payments and he stacked us within those 2 weeks so now the merchant cant afford it. He sent me screen shots of the texts from the broker stating that he can turn our 6 month term into a 8-12 month term by screwing us over.

[EdwinS]

here is a potential bad apple- their MCA job posting, if you pay attention and scroll to the end, proudly says "People with a criminal record are encouraged to apply"

https://www.indeed.com/viewjob?cmp=B...bzkdCdPP&vjs=3

[closer129]

here is a potential bad apple- their MCA job posting, if you pay attention and scroll to the end, proudly says "People with a criminal record are encouraged to apply"

https://www.indeed.com/viewjob?cmp=B...bzkdCdPP&vjs=3

I would love to know the name of this broker so i know not to sign them up.

[FCG]

I would love to know the name of this broker so i know not to sign them up.

http://optimuscaps.com/

[GTM]

here is a potential bad apple- their MCA job posting, if you pay attention and scroll to the end, proudly says "People with a criminal record are encouraged to apply"

https://www.indeed.com/viewjob?cmp=B...bzkdCdPP&vjs=3

Doesnt mean much. Indeed offers that as an option to be more inclusive. They didn't write it, its a setting that must be turned on.

[TheConfidentBroker]

here is a potential bad apple- their mca job posting, if you pay attention and scroll to the end, proudly says "people with a criminal record are encouraged to apply"

https://www.indeed.com/viewjob?cmp=b...bzkdcdpp&vjs=3

i thought you were lying!!! Gtfo

[14Funded99]

SuperFastCap - Shady AF - Don't send your deals there.

lol

[dailyfunderppt]

SuperFastCap - Shady AF - Don't send your deals there.

lmao.
Joe is one of the best!!

[Robinhood21]

Nfg

[Sc0355]

I hate for my first post on here to be a negative one but in my 12 years in the MCA business I’ve never seen a deal handled as poorly as my current situation with FND Capital . My client needed to make payroll and agreed to a 25 day 1.49 . Upon taking the funding call they are informed there will be a 30 % origination held which will be returned upon completion of the deal . The deal ended with full payback remitted April 26th however the ACH is still pulling and extra week at $1499 a day until last Friday may 2.
To add insult to injury On March 20th FND Capital told commission will be paid after business 10 days . I call 12 days later to confirm and Jacob the “ managing director” says “ oh this is your first deal as an iso wed like to wait a little longer we will send it on April 18th. Of course the 18th rolls around no answer . Passover comes and goes and It is now may 6th and he has not answered a call or email from myself or the client , finally client calls from their employees cell phone and he picks up and says he’s sick he will call back 2 hours later. They reach him hours later and he says they are threatening him and owe him 10k for stacking ( they didn’t stack and renewed the previous position before him after his full RTR was paid because he has withdrawn an extra 14k from their account that they had designated for payroll.

In summary , 25k deal paying back 37,500 the client net 17k and FND withdrew 52k total from their account (Client has additional 14k taken from their account ) . Still no answer and Commission also not paid on a deal originated March 20th. Stay away from FND by all means necessary.

[diditevenfund]

I hate for my first post on here to be a negative one but in my 12 years in the MCA business I’ve never seen a deal handled as poorly as my current situation with FND Capital . My client needed to make payroll and agreed to a 25 day 1.49 . Upon taking the funding call they are informed there will be a 30 % origination held which will be returned upon completion of the deal . The deal ended with full payback remitted April 26th however the ACH is still pulling and extra week at $1499 a day until last Friday may 2.
To add insult to injury On March 20th FND Capital told commission will be paid after business 10 days . I call 12 days later to confirm and Jacob the “ managing director” says “ oh this is your first deal as an iso wed like to wait a little longer we will send it on April 18th. Of course the 18th rolls around no answer . Passover comes and goes and It is now may 6th and he has not answered a call or email from myself or the client , finally client calls from their employees cell phone and he picks up and says he’s sick he will call back 2 hours later. They reach him hours later and he says they are threatening him and owe him 10k for stacking ( they didn’t stack and renewed the previous position before him after his full RTR was paid because he has withdrawn an extra 14k from their account that they had designated for payroll.

In summary , 25k deal paying back 37,500 the client net 17k and FND withdrew 52k total from their account (Client has additional 14k taken from their account ) . Still no answer and Commission also not paid on a deal originated March 20th. Stay away from FND by all means necessary.

imagine even doing this deal. what a joke

[admin]

I hate for my first post on here to be a negative one but in my 12 years in the MCA business I’ve never seen a deal handled as poorly as my current situation with FND Capital . My client needed to make payroll and agreed to a 25 day 1.49 . Upon taking the funding call they are informed there will be a 30 % origination held which will be returned upon completion of the deal . The deal ended with full payback remitted April 26th however the ACH is still pulling and extra week at $1499 a day until last Friday may 2.
To add insult to injury On March 20th FND Capital told commission will be paid after business 10 days . I call 12 days later to confirm and Jacob the “ managing director” says “ oh this is your first deal as an iso wed like to wait a little longer we will send it on April 18th. Of course the 18th rolls around no answer . Passover comes and goes and It is now may 6th and he has not answered a call or email from myself or the client , finally client calls from their employees cell phone and he picks up and says he’s sick he will call back 2 hours later. They reach him hours later and he says they are threatening him and owe him 10k for stacking ( they didn’t stack and renewed the previous position before him after his full RTR was paid because he has withdrawn an extra 14k from their account that they had designated for payroll.

In summary , 25k deal paying back 37,500 the client net 17k and FND withdrew 52k total from their account (Client has additional 14k taken from their account ) . Still no answer and Commission also not paid on a deal originated March 20th. Stay away from FND by all means necessary.

How did you find them? They've been banned from this forum (Jacob included) for almost a year.
https://dailyfunder.com/showthread.p...gh-Risk-Funder

I assume you checked the internet and the forum prior to signing up with them, right?!

[goldenhippo80]

I hate for my first post on here to be a negative one but in my 12 years in the MCA business I’ve never seen a deal handled as poorly as my current situation with FND Capital . My client needed to make payroll and agreed to a 25 day 1.49 . Upon taking the funding call they are informed there will be a 30 % origination held which will be returned upon completion of the deal . The deal ended with full payback remitted April 26th however the ACH is still pulling and extra week at $1499 a day until last Friday may 2.
To add insult to injury On March 20th FND Capital told commission will be paid after business 10 days . I call 12 days later to confirm and Jacob the “ managing director” says “ oh this is your first deal as an iso wed like to wait a little longer we will send it on April 18th. Of course the 18th rolls around no answer . Passover comes and goes and It is now may 6th and he has not answered a call or email from myself or the client , finally client calls from their employees cell phone and he picks up and says he’s sick he will call back 2 hours later. They reach him hours later and he says they are threatening him and owe him 10k for stacking ( they didn’t stack and renewed the previous position before him after his full RTR was paid because he has withdrawn an extra 14k from their account that they had designated for payroll.

In summary , 25k deal paying back 37,500 the client net 17k and FND withdrew 52k total from their account (Client has additional 14k taken from their account ) . Still no answer and Commission also not paid on a deal originated March 20th. Stay away from FND by all means necessary.

It's up to the broker to vet what funders they send their clients to. The merchant came to you for financial help and you provide them with an absolute dog**** deal in turn ****ing yourself over. I'm sorry that happened to you but you should've done your research on FND. It always gets hairy when you do horrible 25 day deals.

[diditevenfund]

It's up to the broker to vet what funders they send their clients to. The merchant came to you for financial help and you provide them with an absolute dog**** deal in turn ****ing yourself over. I'm sorry that happened to you but you should've done your research on FND. It always gets hairy when you do horrible 25 day deals.

Imagine facilitating a scam due to negligence as a broker and wanting a cut.

[abfunders]

It's up to the broker to vet what funders they send their clients to. The merchant came to you for financial help and you provide them with an absolute dog**** deal in turn ****ing yourself over. I'm sorry that happened to you but you should've done your research on FND. It always gets hairy when you do horrible 25 day deals.

Goldenhippo has a good point. You got them into the mess and expect to get paid.
As brokers, our job is to create a good relationship and we get paid when it gets consummated.
Sounds like FND was a really bad deal, and the funder was really bad, and the merchant has somewhat of a right to blame you for finding and "vetting" them. I hope you didn't take a PSF.

[kpeng]

As a funder, we screen all of our brokers before signing them up. But the same should go both ways. As brokers, ask questions, don't submit anything until you've read over their ISO Agreement and it's fully executed. Please exercise caution in not only who is funding your file, but who gets to see your merchants' personal and financial information. I get people asking to send me deals all the time before screening, but I tell them to sign an agreement before doing so, for my protection and yours. I know everyone's obsessed with speed and turnaround in this industry, but sometimes you need to hold your horses just a little bit and act more prudently. An ounce of prevention is worth a pound of cure.

[Sc0355]

We never take a PSFs on MCA. We are primarily an A Paper/ Term Loan/ 7A shop deals of this sort are out of our wheelhouse. Client this case needed a 5th position and we explored various options, presented all options to the client who needed the funds immediately for payroll. At the end of the day the client agreed, signed and completed the deal to full RTR as agreed with no missed payments etc.
However, youre not wrong. We should have done a better job vetting FND hence the purpose of my post on this thread to let others know to not make the same mistake. The purpose of the post was not to discuss the terms of the deal, albeit terrible.

[abfunders]

Sounds like this deal is as good as the one Stormy Daniels ended up with:

Daniels says she ended up with around $96,000 from deal after attorney and her agent took their fees
After attorney Keith Davidson and her agent Gina Rodriguez took their fees, she ended up with “approximately $96,000,” she said.

That's 26.2% in fees. And she would have to pay taxes on that as well.