How Three Young Brokers Emerge on Wall Street to Face the Beast that is Unsecured Lending
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How Three Young Brokers Emerge on Wall Street to Face the Beast that is Unsecured Lending

Wednesday, May 19, 2021 11:58 PM

DELRAY BEACH, FL / ACCESSWIRE / May 19, 2021 / Predatory business lending is plaguing the nation, and nobody is paying attention. Why are so many businesses filing for bankruptcy? Not long-ago payday loans began to become illegal. Main Street businesses are facing the same "fast cash" issues in the high-risk - short term - revenue based - non-credit driven - commercial lending sector, or more simply put, Merchant Cash Advances. With billions of dollars deployed every year and effective rates north of 700% annually, it's no wonder these businesses are failing.

Corporate Debt Partners, Wednesday, May 19, 2021, Press release picture

What's driving this? Massive commissions. The Merchant Cash Advance space, as far as the sales end goes, is unregulated and does not require a license. Commissions on originating the advances are getting larger and larger. Some shops are even offering unlicensed brokers up 20% of the value of the advance for originating the deal. These brokers will often structure these deals so that the business will take multiple advances at a time to drive these commissions up. In turn, suffocating the borrowers cash flow.

Let's say a business generated $100,000 a month in total gross revenue. Their first advance will come in around the $100,000 range, the broker might fund another one behind it in the $70,000 range, another one around $35,000 and maybe another for $15,000. All the sudden, the business is over $300,000 in debt. Most of it due in well under 6 months. The broker who organized this just generated possibly more than $25,000 in commissions. Anybody can do this out of their home office with a phone, a computer and a few good contacts in the space.

Meet Ian Nadjari, also formerly the above-mentioned broker. With a hunger for success and a knowledge of the debt space, how could he not have been one. The good news is Ian no longer brokers these advances. Two years ago, Ian found his close friend and business partner in the space, dead of an overdose and decided to turn his life around in sobriety. This also meant not deploying more predatory debt. In the process Ian had discovered a career in identifying options to resolve these advances in a more digestible manner. Today with the help of Clement Noll and Alexander Tate, Ian runs Corporate Debt Partners, formerly Relief Restructuring. By leveraging Ian's contacts in the space, he is confident he can help you come up with a solution to your commercial debt matters.

Meet Clement Noll, Clement met Alexander and Ian while employed at a health insurance agency where he had discovered his love for sales and the gratification that comes from providing consumers with a product that meets their needs and eases the worries they once carried. Andrew quickly climbed the ranks. He started as a pre-qualifying agent and eventually was responsible for the oversight of four immensely successful agencies. Clement is ambitious in his attempt to carry with him his empathetic nature, and his ability to gain the trust of families and individuals, in attempts to help them recover their struggling businesses and aid in their return to profitability.

Meet Alexander Tate, Alexander was an early graduate at West Virginia University with a full life ahead of him. However, life's indulgences forced Alexander to look in the mirror and realize he had to change his ways. He entered a life sobriety over 2 years ago and thus began to move forward fulfill his personal and professional goals. Alexander brings to Corporate Debt Services two years of experience in the financial services industry, with particular emphasis in sales and marketing. Alexander is extremely proud of the work that Corporate Debt Partners does, as in almost all cases, businesses can significantly reduce the constant financial burden and focus on growing a sustainable and profitable enterprise. Alexander looks forward to helping corporate entities see light at the end of the tunnel during these difficult times.

In taking on these unconventional banks, the team has three main objectives when diving into a new file. The first is to negotiate down total interest due. Even by cutting it in half, the lenders are still making plenty of money. The second is to convert daily or weekly ACH drafts into one single monthly payment. As well as to extend payback terms by at least a year.

If your business is currently struggling to keep up with advances, you may reach the team below:

CONTACT:
Contact Name: Ian Nadjari
Business Name: Corporate Debt Partners
Phone Number: 801-784-3328
Email: [email protected]
Website Link: Corporatedebtparters.com

SOURCE: Corporate Debt Partners

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