[pcfunder]

https://www.youtube.com/watch?v=A3xc1UotJng


I'm genuinely curious about this question: A lot of people in MCA are religious and to me religion has the utmost respect towards life and humanity. Does anyone who funds merchants ever feel bad when they freeze their bank account, file a judgement against them, harass the merchants, embarrass them by calling their clients/AR, and do other aggressive collection methods? I understand the theory that "merchants are assholes anyway" but how can one of gods creations be so deserving of such punishment if god forgives all humans sins on earth? Does anyone ever feel like they are taking advantage of someone who's in a tough situation in their life?

[Michael I]

https://www.youtube.com/watch?v=A3xc1UotJng


I'm genuinely curious about this question: A lot of people in MCA are religious and to me religion has the utmost respect towards life and humanity. Does anyone who funds merchants ever feel bad when they freeze their bank account, file a judgement against them, harass the merchants, embarrass them by calling their clients/AR, and do other aggressive collection methods? I understand the theory that "merchants are assholes anyway" but how can one of gods creations be so deserving of such punishment if god forgives all humans sins on earth? Does anyone ever feel like they are taking advantage of someone who's in a tough situation in their life?

first off i am a broker. Now i do speak to a lot of funders and merchants.Beside for some scumbags (bad apples) funders that i hate , most hate going the legal route and will try very hard to reach the merchant and have the iso try also just to talk with them and tell them whats up . They pretty much all will work with a merchant going through a hard time like what is happening now. Now keep in mind no one is running a charity ,just giving money for free. They have to do some sort of collections as they have responsibility to their investors.

[pcfunder]

first off i am a broker. Now i do speak to a lot of funders and merchants.Beside for some scumbags (bad apples) funders that i hate , most hate going the legal route and will try very hard to reach the merchant and have the iso try also just to talk with them and tell them whats up . They pretty much all will work with a merchant going through a hard time like what is happening now. Now keep in mind no one is running a charity ,just giving money for free. They have to do some sort of collections as they have responsibility to their investors.

Does that mean that collecting money is more important than another persons life? I had a deal awhile ago where a merchant was doing 500k a month and had an excellent business. By his 3rd advance a lot of things started to happen to him and his business had a major downfall that was unexpected. I spoke to him on the phone to try and set up a payment plan and he literally said "I am trying my hardest to not jump off the nearest bridge". Does a responsibility to an investor have more merit than a responsibility to being a good person who happens to be more blessed on this planet than the person you are legally going after?

Also whats the justification in giving someone $50,000 and having them pay back $75,000 over 6 months with 5% fee's so the merchant doesn't even net the full 50k... Does that also somehow feel moral and normal to do to other people who are living in this same world we all share under god? If I was an investor and I had millions and millions to play with, I'm not too sure that I would look at cash advance as a game to get into. Technically I could get into selling cocaine and that would make me some INSANE profit as well but where does the line from whats morally right and wrong start and end?

[Michael I]

Does that mean that collecting money is more important than another persons life? I had a deal awhile ago where a merchant was doing 500k a month and had an excellent business. By his 3rd advance a lot of things started to happen to him and his business had a major downfall that was unexpected. I spoke to him on the phone to try and set up a payment plan and he literally said "I am trying my hardest to not jump off the nearest bridge". Does a responsibility to an investor have more merit than a responsibility to being a good person who happens to be more blessed on this planet than the person you are legally going after?

Now you are getting involved in a specific situation that a funder needs to make a call.Did something happen or was it take the money and run. big difference.
I have a current merchant that not only put a stop payment 1 week in , she even went in disputed the week of payments she did do. now she is a person , she is a single mother with 3 kids . should the funder just write it off as charity or go after her?

[pcfunder]

Now you are getting involved in a specific situation that a funder needs to make a call.Did something happen or was it take the money and run. big difference.
I have a current merchant that not only put a stop payment 1 week in , she even went in disputed the week of payments she did do. now she is a person , she is a single mother with 3 kids . should the funder just write it off as charity or go after her?

In a perfect world, write it off and try to find a better product that doesn't destroy people with bad credit and financial difficulties cash flow. I'm young and honestly not as experienced as a lot of you guys in a lot of ways. I'm just wondering why people who have so much money, power, and influence are investing in the growth of MCA's? A decent amount of my friends from Baruch College and even from my high school went into MCA because of the insane amount of jobs that were created from this industry. I'm wondering why investors who are people of God couldn't find something else to invest into that would maybe be a little less evil?

Also a lot of high risk firms are very religious too. What is their excuse? Isn't their entire business model based off of putting most merchants into default and aggressively going after them through insanely abusive collection methods?

[Michael I]

Also whats the justification in giving someone $50,000 and having them pay back $75,000 over 6 months with 5% fee's so the merchant doesn't even net the full 50k... Does that also somehow feel moral and normal to do to other people who are living in this same world we all share under god? If I was an investor and I had millions and millions to play with, I'm not too sure that I would look at cash advance as a game to get into. Technically I could get into selling cocaine and that would make me some INSANE profit as well but where does the line from whats morally right and wrong start and end?

Flip side is dont give them anything and now what ? where does that end? On my birthday my phone blows up from merchants calling me that love me. some i funded 5 years ago and never since but still love how it saved the business that one time he needed money asap. My job as a broker is to get the merchant the best possible deal that is out there for them , whether that is a sba loan or 3 month 1.5 . spell out all fees and let them think about it and let them make there own decision

[NoBigDeal]

https://www.youtube.com/watch?v=A3xc1UotJng


I'm genuinely curious about this question: A lot of people in MCA are religious and to me religion has the utmost respect towards life and humanity. Does anyone who funds merchants ever feel bad when they freeze their bank account, file a judgement against them, harass the merchants, embarrass them by calling their clients/AR, and do other aggressive collection methods? I understand the theory that "merchants are assholes anyway" but how can one of gods creations be so deserving of such punishment if god forgives all humans sins on earth? Does anyone ever feel like they are taking advantage of someone who's in a tough situation in their life?

Being religious shouldn't mean the same thing as allowing yourself to be taken advantage of

[abfunders]

https://www.youtube.com/watch?v=A3xc1UotJng


I'm genuinely curious about this question: A lot of people in MCA are religious and to me religion has the utmost respect towards life and humanity. Does anyone who funds merchants ever feel bad when they freeze their bank account, file a judgement against them, harass the merchants, embarrass them by calling their clients/AR, and do other aggressive collection methods? I understand the theory that "merchants are assholes anyway" but how can one of gods creations be so deserving of such punishment if god forgives all humans sins on earth? Does anyone ever feel like they are taking advantage of someone who's in a tough situation in their life?

Let me just and answer the religion question.

pcfunder, you're making an assumption about religion in general versus liberal Western values. Some religions look at non-religious-cohorts as infidels deserving of punishment. Look no further than Christianity in the middle ages and the Jewish pogroms, or the Taliban. Religion does not mean what Western modern Christianity defines it as "G-d forgives everything!" In my opinion, he'd be a pretty bad parent and bad boss if there were no consequences and everything is "live and let live."

So if you don't like that, it doesn't mean that G-d is bad, it means that you just don't like Him. Or you don't believe in a religion like that, I'm not well-versed in other religions, but if you examine the philosophy of Maimonides, you'd find pretty hard logical proofs that G-d judges, and it's a good thing. But it doesn't prove that every version of god doesn't judge. Don't know much about the non-monotheists, perhaps some of the gods in those religions don't judge, they just run around naked shooting love arrows.

Collections of cash advances are the same as credit card collections. There are laws, there are more aggressive and less aggressive ways to do it. COJs were perhaps too aggressive. I think that the jury's still out on that one, but NY legislature has spoken.

If someone is in violation of their agreements by stacking or by non-payment, who's the one in the wrong? I'm not talking about aggressive collection, I'm talking about who's the one who's wrong? Agreed, that COJs in hand became weaponized, and that's one discussion. But why throw all MCA purchasers under the bus because of the COJ?

"Goes against the client's best interest." I'm sorry, but we do NOT work for the client. We have investors and we have obligations, and perhaps the COJ was a bad idea, but who's life is ruined? Maybe the investor's life is ruined because a funder decided never to do collections every again? Maybe the broker's life is ruined because he was trusting his syndication money with you?

Also, someone who's using foul language like that in public with a Jewish head covering is a huge desecration of the Jewish G-d. Nachmonidies, beginning of Kedoshim.

Quoting here, not commenting, leave judgement for youself:
David said, we will first fund you and then give you information how "Never take this predatory product ever again."

[pcfunder]

Let me just and answer the religion question.

pcfunder, you're making an assumption about religion in general versus liberal Western values. Some religions look at non-religious-cohorts as infidels deserving of punishment. Look no further than Christianity in the middle ages and the Jewish pogroms, or the Taliban. Religion does not mean what Western modern Christianity defines it as "G-d forgives everything!" In my opinion, he'd be a pretty bad parent and bad boss if there were no consequences and everything is "live and let live."

So if you don't like that, it doesn't mean that G-d is bad, it means that you just don't like Him. Or you don't believe in a religion like that, I'm not well-versed in other religions, but if you examine the philosophy of Maimonides, you'd find pretty hard logical proofs that G-d judges, and it's a good thing. But it doesn't prove that every version of god doesn't judge. Don't know much about the non-monotheists, perhaps some of the gods in those religions don't judge, they just run around naked shooting love arrows.

Collections of cash advances are the same as credit card collections. There are laws, there are more aggressive and less aggressive ways to do it. COJs were perhaps too aggressive. I think that the jury's still out on that one, but NY legislature has spoken.

If someone is in violation of their agreements by stacking or by non-payment, who's the one in the wrong? I'm not talking about aggressive collection, I'm talking about who's the one who's wrong? Agreed, that COJs in hand became weaponized, and that's one discussion. But why throw all MCA purchasers under the bus because of the COJ?

"Goes against the client's best interest." I'm sorry, but we do NOT work for the client. We have investors and we have obligations, and perhaps the COJ was a bad idea, but who's life is ruined? Maybe the investor's life is ruined because a funder decided never to do collections every again? Maybe the broker's life is ruined because he was trusting his syndication money with you?

Also, someone who's using foul language like that in public with a Jewish head covering is a huge desecration of the Jewish G-d. Nachmonidies, beginning of Kedoshim.

Quoting here, not commenting, leave judgement for youself:
David said, we will first fund you and then give you information how "Never take this predatory product ever again."

Ok interesting point. Again, I am not trying to offend or act like what I'm saying is correct and everyone else is wrong. I am just trying to understand because my gut tells me that something is wrong with all of this even though I've made a pretty good living doing this and I related to a lot of what David said.

It also feels weird that on a normal day my job involves me working with the mafia, ex criminals who have committed felonies, and brokers with 0 sales training or 0 sales experience. I'm not sure what that says but feels like its odd to ignore that one as well...

[abfunders]

Ok interesting point. Again, I am not trying to offend or act like what I'm saying is correct and everyone else is wrong. I am just trying to understand because my gut tells me that something is wrong with all of this even though I've made a pretty good living doing this and I related to a lot of what David said.

It also feels weird that on a normal day my job involves me working with the mafia, ex criminals who have committed felonies, and brokers with 0 sales training or 0 sales experience. I'm not sure what that says but feels like its odd to ignore that one as well...

1) Not offended.
2) I make a living off dealing with brokers who don't know much else other than MCAs, so it's hard to complain
3) Yes, I can relate to David's points as well, it's just the way it's being presented is a bit ... aggressive, unbecoming and crass. I've dealt with plenty of the bad actors as well.

[abfunders]

And no, the business model isn't fund until collections. It's fund, and they know that some will default. Credit cards are also fund fund fund, then go through collections channels. That's underwriting. JB and his ilk, on the other hand, that was a business model of get back as much money as fast as you can, and then hit them with aggressive illegal collections when they definitely default. Most funders did and do not do that.

[pcfunder]

And no, the business model isn't fund until collections. It's fund, and they know that some will default. Credit cards are also fund fund fund, then go through collections channels. That's underwriting. JB and his ilk, on the other hand, that was a business model of get back as much money as fast as you can, and then hit them with aggressive illegal collections when they definitely default. Most funders did and do not do that.

I kind of hate credit cards too lol. I never learned a single thing about credit cards in middle school or high school which looking back on it I find that extremely odd. When I started my own business I was approved for a 10k line of credit. I have no idea why or how but the bank called me up and said congratulations you will have your card in the mail soon! I'm not saying that this is not my fault as well but it was pretty easy to lose control of that card pretty quick and took me a long time to pay it off. It is kind of odd that no one told me a single thing about how credit cards work and they just handed me a $10,000 line of credit in my early 20's. It almost feels like "wow a major bank trusts me with a 10k line of credit, I should be absolutely fine using this!". I have the same feeling about how easy it was to get a student loan. I was able to take on 30k of debt at 18 years old without hesitation. I didn't need that 30k of debt to do MCA what so ever. My first MCA job literally sat me at a desk, they told me to listen to how other people talk on the phone, handed me leads, and left the room. That was the most training I have ever had in my entire MCA career and I somehow had to pay 30k to get to that point.

[abfunders]

I kind of hate credit cards too lol. I never learned a single thing about credit cards in middle school or high school which looking back on it I find that extremely odd. When I started my own business I was approved for a 10k line of credit. I have no idea why or how but the bank called me up and said congratulations you will have your card in the mail soon! I'm not saying that this is not my fault as well but it was pretty easy to lose control of that card pretty quick and took me a long time to pay it off. It is kind of odd that no one told me a single thing about how credit cards work and they just handed me a $10,000 line of credit in my early 20's. It almost feels like "wow a major bank trusts me with a 10k line of credit, I should be absolutely fine using this!". I have the same feeling about how easy it was to get a student loan. I was able to take on 30k of debt at 18 years old without hesitation. I didn't need that 30k of debt to do MCA what so ever. My first MCA job literally sat me at a desk, they told me to listen to how other people talk on the phone, handed me leads, and left the room. That was the most training I have ever had in my entire MCA career and I somehow had to pay 30k to get to that point.

The debt trap didn't start with MCAs..... "Listen man, everyone's doin' it!"
American Colleges are the biggest ponzi scheme.
https://www.city-journal.org/higher-...ty-bureaucracy *

*very right-wing website apparently, heavily biased one way, but I still think this person did a very excellent analysis. My father died while I was in college and that the life insurance paid off my student loans. Call it lucky, call it unfortunate, call it morbid, whatever you want. But that's a lot of money that I didn't get to my pockets later on in life.