Hi all,
I am a merchant who has used merchant funding several times before. It has been a help to my business. We received a solicitation for funding that seemed....well...a bit sketchy. The details are something like this:
The deal amount was said to be $155k. Once we went through the process it was actually an in initial funding amount of 5k then a guaranteed additional $150k after paying on the 5k for 30 (or 45, can't remember) days. It didn't seem right. Anyone know anything about these type of deals? Also, I'm not a 100% sure about this, but I'm pretty sure we received the exact same solicitation with a different funders name on it after several months of the previous company sending solicitations. It seemed like the previous company changed names. Anyone familiar with this? Thanks.
C. Brown