Until today, I would have given NEXI 5 stars, but unfortunately, they showed that they are just another company practicing usury in the name of "alternative financing". We were financed during our biggest sales month, and our remittance rate was calculated at roughly 22% of all sales. As our busy season has passed, we have submitted three reconciliation reviews to keep our payments in line with 22% of all deposits. (That 22% includes the money disbursed by NEXI, your true remittance rate is much higher) The first two reviews were no problem, but the third was where we found issues. Even though we have not defaulted and have operated within the parameters of the contract, NEXI has decided to void our contract and left us to pay back the remaining MCA debt on our own, on top of the money provided by NEXI. It would make sense to reach out to the client before cancelling the contract to gain better insight into the full picture. Unfortunately, just another predatory lender disguising itself as a tool for small businesses. Deceitful practices at usurious rates, and they have no intention of helping anyone other than themselves. They will "help" you if it is convenient for them. It is a shame that so many businesses have found themselves in the egregious world of alternative financing. A better solution would have been to take the MCA companies to court for usury and fraudulent business practices before ever taking a reverse consolidation product with NEXI. Financing in this form is simply people who are nothing but parasites to society, taking advantage of people who actually contribute to society.
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