Sometimes there are UCC's on a business that don't seem like they belong to an advance company. Due to sales people using UCC searches to target merchants they know already have advances - I have heard that several advance companies are using false names to file UCC's under.

Or - some advance companies don't even file UCC's...

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I would be interested in knowing which DBA's the advance companies are filing under. It seems far fetched as the Corporate Name and DBA must be on the signed Merchant Agreement in order to legally bind the Merchant to the agreement. Hence if the merchant signs an agreement with xyz company and xyz files a UCC under abc company, abc company would have to have been on the initial signed agreement as well.........just my 2 cents.

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rapid only files if the account goes bad or if it's a large amount

there's a few small ones out there that don't file at all

IMHO, if they are not filing a UCC, they have noone to blame but themselves if the merchant starts stacking.

Laura

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Thanks,
Laura Franklin
Relationship Manager
Greystone Business Resources Corp.
665 Molly Lane, Suite 130
Woodstock, GA 30189
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Sales Support 866.813.0616
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lfranklin@greystonebr.com
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I have come across several Merchants who have existing Advances with no UCC lien in place, These merchants never informed me of the current advance and were approved for new advances by an alternate company. Only after the new advance is issued and the Merchant stops processing with the first funding source does the flag get raised that there was another advance outstanding. Merchants are learning how to beat the system all the while doing so relentlessly with no concern for the advance companies.

One advance company files under SOUND GARDEN

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GRP Funding, LLC
1350 Main Street - 4th Floor
Springfield, MA 01103
Toll-Free: (877) 571-7999
GRPFunding.com | Request ISO/Agent Info

Advanceme.....

off the top and in no particular order...i might be missing a few here and there but hope this helps...

Reach Financial
Faton Inc (Business Financial Services)
Business Financial Services
Merchants Advance (amerimerchant)
Royal Advance (amerimerchant)
Strategic Funding Source
Leaf Funding (merit capital advance) --mostly equipment leases but worth looking into for the older advances
First Funds
Advanceme, Inc.
Minglewood (advanceme)
Minglewood Services (advanceme)
Birdsong Services (advanceme)
Sound Garden (advanceme)
Fast Capital LLC
JR FINANCE CO., LLC ( fast capital)
Rapid Advance, L.L.C.
Money For Merchants, LLC
Capital For Merchants LLC
M1 Capital Finance LLC
Sterling Funding LLC
Merchant Cash & Capital LLC
Advance Restaurant Finance, LLC
Venture Bank (advance restaurant finance)
Rewards Network Establishment Services Inc.
Acacia Funding, Inc.
Cash-On-Demand, LLC
Merit Capital Advance, LLC
RapidAdvance
Merchant Money Tree
Global Swift Funding

Although I understand why some advance companies do this (so ISO's won't UCC search and target their portfolio) - it also has to increase the risk on the deal. If we didn't know some of the names offhand (ie Sound Garden) - what would stop us from funding a merchant that did have an open balance with AMI?

Also, how do they do it? Doesn't the merchant contract say that a UCC will be filed under the Advance Company's name?

__________________
GRP Funding, LLC
1350 Main Street - 4th Floor
Springfield, MA 01103
Toll-Free: (877) 571-7999
GRPFunding.com | Request ISO/Agent Info