The Day The Credit Card Was Born 6 Decades Later Fresno Company Drops Net-settlement Credit Line

America began to change on a mid-September day in 1958, when Bank of America dropped its first 60,000 credit cards on the unassuming city of Fresno, California. That’s a word they liked to use in the credit card business to characterize a mass mailing of cards — a “drop” — and it is an unwittingly apt description. There had been no outward yearning among the residents of Fresno for such a device, nor even the dimmest awareness that such a thing was in the works. It simply arrived one day, with no advance warning, as if dropped from the sky. Over the course of the next 12 years, before the practice of mass card mailings was outlawed, banks would blanket the country with 100 million credit cards of one sort or another, and it would always have that same feeling. It would always seem as though those first 100 million credit cards had simply fallen from the sky.

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MKG Enterprises Corp is a diversified Emerging Growth financial service company licensed as a finance Lender & Broker by the California Department of Financial Protection and Innovation. The company CFL licensee provides non-recourse tax refund lines of credit products primarily to customers with limited access to consumer credit from banks, thrifts, credit cards and lenders.

Our primary focus is net-settlement tax refunds, reimbursement to a taxpayer of any excess amount paid to the federal government or a state government, auto title loans, subprime auto loans, structured settlements, Non-recourse IRA, 401(k) and HSA line of credit.

Credit is a cornerstone of the U.S. economy, and access to affordable credit is central to unlocking upward mobility and opportunity. The FICO score was invented in 1956 and remains the standard for determining who is approved for credit and at what interest rate. While FICO is rarely the only input in a lending decision, most banks use simple, rules-based systems that consider only a limited number of variables. Unfortunately, because legacy credit systems fail to properly identify and quantify risk, millions of creditworthy individuals are left out of the system, and millions more pay too much to borrow money.

MKG Tax Consultants finance agents provides income tax preparation, Web App Finance Tax Advance Mobile Payments “FinTAMP” to customers with limited access to consumer credit from banks, thrifts, credit cards and lenders determined by their tax refund status instead of their FICO score as a bank product or RAC refund Anticipation Check  to the under bank by providing no up front tax preparation fee’s and consumer loan products.

You can get in on the groundfloor by purchasing common sharpes before MKG Enterprises Corp drops its revolutionary tax refund line of credit mobile app.

Accrediated Investor’s Overview

  • A natural person who has individual net worth, or joint net worth with the person’s spouse or spousal equivalent, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person;
  • A natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse or spousal equivalent exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;
  • A natural person who holds any of the following licenses from the Financial Industry Regulatory Authority (FINRA):  a General Securities Representative license (Series 7), a Private Securities Offerings Representative license (Series 82), or a Licensed Investment Adviser Representative license (Series 65);
  • A natural person who is a “knowledgeable employee” of the issuer, if the issuer would be an “investment company” within the meaning of the Investment Company Act of 1940 (the “ICA”) but for section 3(c)(1) or section 3(c)(7) of the ICA;
  • An investment adviser registered under the Investment Advisers Act of 1940 (the “Advisers Act”) or the laws of any state;
  • Investment advisers described in section 203(l) (venture capital fund advisers) or section 203(m) (exempt reporting advisers) of the Advisers Act;
  • A trust with assets in excess of $5 million, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person;
  • A business in which all the equity owners are accredited investors;
  • An employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
  • A bank, insurance company, registered investment company, business development company, small business investment company, or rural business development company;
  • A charitable organization, corporation, limited liability company, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets exceeding $5 million;
  • A “family office,” as defined in rule 202(a)(11)(G)-1 under the Advisers Act, if the family office (i) has assets under management in excess of $5,000,000, (ii) was not formed for the specific purpose of acquiring the securities offered, and (iii) is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment;
  • Any “family client,” as defined in rule 202(a)(11)(G)-1 under the Advisers Act, of a family office meeting the requirements above, whose investment in the issuer is directed by such family office;
  • Entities, including Indian tribes, governmental bodies, funds, and entities organized under the laws of foreign countries, that were not formed to invest in the securities offered and own investment assets in excess of $5 million; or
  • A director, executive officer, or general partner of the company selling the securities, or any director, executive officer, or general partner of a general partner of that issuer.”
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RISK FACTORS

A crowdfunding investment involves risk. You should not invest any funds in listed companies offering unless you can afford to lose your entire investment.

In making an investment decision, investors must rely on their own examination of the issuer and the
terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or
literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from
registration.

SEC Proposes Conditional Exemption for Finders Assisting Small Businesses with Capital Raising

Finders Proposed Exemption

Tier I and Tier II Finders would both be permitted to accept transaction-based compensation under the terms of the proposed exemption.

Tier I Finders

A Tier I Finder would be limited to providing contact information of potential investors in connection with only a single capital raising transaction by a single issuer in a 12 month period.  A Tier I Finder could not have any contact with a potential investor about the issuer.

Tier II Finders

A Tier II Finder could solicit investors on behalf of an issuer, but the solicitation-related activities would be limited to: (i) identifying, screening, and contacting potential investors; (ii) distributing issuer offering materials to investors; (iii) discussing issuer information included in any offering materials, provided that the Tier II Finder does not provide advice as to the valuation or advisability of the investment; and (iv) arranging or participating in meetings with the issuer and investor.

Conditions for Both Tier I and Tier II Finders

Both Tier I and Tier II Finders would be subject to certain conditions. The proposed exemption for Tier I and Tier II Finders would be available only where:

  • the issuer is not required to file reports under Section 13 or Section 15(d) of the Exchange Act;
  • the issuer is seeking to conduct the securities offering in reliance on an applicable exemption from registration under the Securities Act;
  • the Finder does not engage in general solicitation;
  • the potential investor is an “accredited investor” as defined in Rule 501 of Regulation D or the Finder has a reasonable belief that the potential investor is an “accredited investor”;
  • the Finder provides services pursuant to a written agreement with the issuer that includes a description of the services provided and associated compensation;
  • the Finder is not an associated person of a broker-dealer; and
  • the Finder is not subject to statutory disqualification, as that term is defined in Section 3(a)(39) of the Exchange Act, at the time of his or her participation.

A Finder could not rely on this proposed exemption to engage in broker activity beyond the scope of the proposed exemption.  Among other things, a Finder could not rely on this proposed exemption to facilitate a registered offering, a resale of securities, or the sale of securities to investors that are not accredited investors or that the Finder does not have a reasonable belief are accredited investors.

Further, a Finder could not (i) be involved in structuring the transaction or negotiating the terms of the offering; (ii) handle customer funds or securities or bind the issuer or investor; (iii) participate in the preparation of any sales materials; (iv) perform any independent analysis of the sale; (v) engage in any “due diligence” activities; (vi) assist or provide financing for such purchases; or (vii) provide advice as to the valuation or financial advisability of the investment.

Additional Conditions for Tier II Finders

Because Tier II Finders could participate in a wider range of activity and have the potential to engage in more offerings with issuers and investors, the Commission has proposed additional, heightened requirements.  A Tier II Finder wishing to rely on the proposed exemption would need to satisfy certain disclosure requirements and other conditions.  These disclosure requirements, which include a requirement that the Tier II Finder provide appropriate disclosures of the Tier II Finder’s role and compensation, must be made prior to or at the time of the solicitation.  Further, the Tier II Finder must obtain from the investor, prior to or at the time of any investment in the issuer’s securities, a dated written acknowledgment of receipt of the required disclosures.

SEC Harmonizes and Improves “Exempt Offering” registration, facilitating access to capital and investment

One of the biggest changes the SEC has implemented is the legality of “finders” receiving commissions or payments for brokering deals and introducing investors to issuers, syndicators, developers, etc. Before this change, only broker-dealers were allowed to receive compensation for such deals.

With the new changes, these finders can now legally receive these commissions and other transaction-based compensation from issuers.

The ability to legally monetize your connections is something many have been waiting for for quite a long time!

Exempt private offerings have traditionally served an important role in providing capital for smaller and medium-sized companies, often along their path to the public markets.

Overview of Amended Capital-Raising Exemptions

Fresno Capital Formation believes this change will allow Reg CF will increase from current limits 1.07M to 5M

Regulation A Crowdfunding will increase from 50M to 75M

BUSINESS LINE OF CREDIT: Up to $10,000 line of credit based on your personal credit

WHAT YOU GET

BUSINESS LINE OF CREDIT: Up to $10,000 LOC based on your personal credit

MINIMUM LOC $500

LIMIT INCREASES: Up to $100,000 based on your business revenue

TIMELINE: Your line of Credit will arrive in 3-5 days

ACCESS: Draw funds directly to your bank account or use a MasterCard INTEREST: 9%-19% + Prime on revolving balances > 30 days MERCHANT ACCOUNT: We match or beat any other merchant account

Credit Criteria:

 

When a new account is enrolled with our partners our clients based on there personal credit of the business owner. Specifically it is based on the Experian credit report. View the chart below in order for MKG Tax Consultants to set the proper expectations for your account. We want to be transparent that our clients expectation is that an account expected to get a larger credit line than they ultimately received.

 

Low ScoreHigh Score
301549
550599
600649
650679
680699
700724
725749
750799
800999
IMPORTANT:

 

An account ‘s credit line can be increased significantly after the account is opened by sub Your li ne can be increased to as much as $100,000 based on your business revenues.

 

YOUR LINE OF CREDIT GROWS WITH YOUR BUSINESEvery 90 days your account

can be reviewed and increased based on your needs. Need it sooner? Request your first manual review as soon as you activate your new account.

 

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