Mike G. called me an F'n degenrate
Because I have done MCA’s in the past, I get inundated with 35 calls a day and another 25 texts EVERY DAY, including from these guys. Yesterday I got a text from Mike G. at SNB Capital. I asked for his email so I could send him a synopsis of what I was looking for, which was a term loan to cash out my MCA’s, which is a loss leader they throw out there. I have 8 MCA’s all within the same timeframe because no single company would do what I needed for a purchase. At the time I took them, I had no idea just how bad they are viewed on your business credit profile.
My proposal was a term loan of $300k to pay off the remaining balances of my MCA’s ($220k) that will reduce my payments from $107,000 per month down to $15,000 per month and leave a little working capital. Despite leading with that structure, he said no one would pay off 8 MCA’s because it looks really bad having that many. I suggested an $80k working capital loan or LOC and he said no one would do that either. Then he proceeds to suggest he give me a 9th position MCA. When I snapped at him and told him I was never doing an MCA again after learning how badly they are viewed, and he laughed at me and said that was all I was good for. I declared I would never do another MCA again and he began making fun of me that I even did them in the first place. This only reinforces that he KNOWS the product he sells is bad and that you would be an idiot to take it. The conversation escalated from there to which he called me a F’n degenerate. I own a prominent tourist attraction in Las Vegas that does several million dollars a year and this guy is ridiculing me and calling me names. MCA’s are bad products and you should know if you’re considering one, they are very difficult to get out of. That’s primarily because when a reasonable lender sees them, they question not only your judgment but whether you will take another MCA after they fund you their reasonable loan. Additionally, you had better have a strong financial foundation because MCA’s could put you out of business. AND you get to deal with guys like these who (to quote Mike) “only care about himself. Why should I care about you”? And don’t forget the 35 plus calls a day you’ll get along with the 25 texts everyday just begging you to take another MCA. If you gotta do it, try someone else.
8 June 2026
Unprompted review