Total Merchant Resources got an investment from Kevin O'Leary
Courtesy of totalmerchantresources.com
1. Alternative financing resources for small-time businesses and entrepreneurs.
2. They will take over credit card processing so that they collect a small percentage of the business's income.
Soooooo..... is it just me, or do these guys immediately come across like Scorcese loan sharks? I'm not trying to ethnically stereotype here, but it does seem like they went out of their way to dress and present themselves like the kind of guys you end up regretting doing that "handshake deal" with last year.
I'm sure they're really sweet guys, though. (Just convering my bases - just in case.)
Once they get into their pitch though, it seems like a solid way to ensure their money is paid back (with interest). It's almost like an Uncle Kevin deal - they provide the funding to the small business, and then take a "royalty" off each sale until they're paid back.
Jason and Val are looking to move up the ladder and start scoring larger clients. Problem is, larger businesses don't have as much trouble getting that quick $18,000 bailout for a broken AC unit. That's a small business problem.
He pitches them that he brings the three C's: Credibility, Capital, and Contacts. That's probably music to Jason and Val's ears, as that is exactly what they need. Can they give up 50% of their business, though?
It looks like the whole thing is going to be decided on a coin-flip, when finally Jason and Val agree that Kevin's name WILL add to their business geometrically, and they walk out with $200,000 and 50% less of their company.
Jason Reddish & Val Pinkhasov