Results 1 to 14 of 14
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02-01-2023, 10:18 AM #1
- Join Date
- Apr 2018
- Posts
- 3
Lendabiz Capital
I would suggest everyone in this industry stay away from Lendabiz Capital. Funded a deal with us beg of last month. Merchant filed for BK days later. ISO has not answered his phone, call, or an email since finding out deal went bad. Who knows, maybe he was complicit. His name is Arthur Hernandez. He owes us over 40k. If you are a funder out there, do yourself a favor and avoid him. Domain is lendabiz.com
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02-01-2023, 10:22 AM #2
- Join Date
- Jun 2015
- Posts
- 3,319
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02-01-2023, 11:35 AM #3
- Join Date
- Feb 2018
- Posts
- 1,349
should really focus on key relationships for iso business right now that you know a clawback won't be an issue. defaults and payment modifications are up across all companies and this type of situation is usually someone who calls or emails you to signup with a beautiful story of how much business they do but if you don't know them, its volatile and risky
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02-09-2023, 07:18 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,926
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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02-18-2023, 12:30 AM #5
- Join Date
- Apr 2018
- Posts
- 3
Just seeing all of this. It was a renewal and over 500k. ISO disappeared when it came time to clawback.
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02-18-2023, 12:47 AM #6
Simple solution..I don't pay commissions until after clawback expires.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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02-19-2023, 02:46 PM #7
- Join Date
- Feb 2017
- Posts
- 3,396
Steve, have you ever run a competitive MCA firm? I have not, but from your "easy" answer it's clear that you haven't, either. However, I know a lot of hungry ISOs who would never submit deals to a funder that doesn't pay very quickly. Do you know how many funders advertise "SAME DAY COMMISSIONS" for a reason? From the broker side of things, I try never to never pay out commissions on high risk deals until the clawback period has passed.
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02-19-2023, 07:30 PM #8Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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02-20-2023, 09:05 AM #9
- Join Date
- Feb 2017
- Posts
- 3,396
You didn't say this, but you certainly implied:
"I never do MCAs. But other brokers should know that I'm INCREDIBLY GOOD at them!"
Sounds a lot like the following contradiction that was always implied by never said:
"I was and will be the best president of the greatest country in the world. However, if I'm not the president, then I hate the country."
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02-20-2023, 09:35 AM #10
- Join Date
- Jun 2015
- Posts
- 3,319
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02-20-2023, 11:09 AM #11
- Join Date
- Jan 2023
- Posts
- 25
why are you on this forum if you rarely do MCA? just to spam the threads??
but you are somewhat right - if your doing a risky mca deal and have suspicions with the isos - I doubt most will want to pay it right away.
obv places like ebf and delta dont care or clawback.
most of the brokers out there dont care one iota for a funders money and just want to get their commission and move on
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02-20-2023, 01:03 PM #12
- Join Date
- Aug 2016
- Posts
- 827
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02-20-2023, 01:04 PM #13
- Join Date
- Aug 2016
- Posts
- 827
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02-20-2023, 01:07 PM #14
Most of you guys call me about deals that are outside the MCA arena. Term loans, real estate and hard money, equipment financing, personal loans, business LOC, etc. Clawbacks don't come up on those deals.
Some of you call me on deals you can't get funded and those are typically high risk. Those are the deals I don't pay commissions until clawback expires.
Clawbacks don't apply for 99% of the deals I get.Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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