The Atlanta Journal-Constitution is reporting that merchant cash advance provider AdvanceMe has taken a $565,000 hit from an Atlanta Restaurant Group.
This is a perfect example how many times sales agents / ISOs and even merchant cash advance providers believe before a deal gets funded that it's a "good deal" because it's a large established restaurant group. Unfortunately the bigger they are, the harder they fall.
Subscribe to:
Post Comments (Atom)
1 comment:
AMI isnt the only one who took a hit. Try Rewards Network, ARF and I believe a few others gave money to this restaurant group. This is what happens when everyone layers and puts a merchant into a position where they can't payback. Hopefully, this teaches all of them a lesson!
Post a Comment