Highlights
- Product Features: Total Merchant Resources provides businesses with credit card processing and receivables factoring services. They offer alternative financing solutions by buying future credit card receivables at a discount and giving businesses a lump sum cash distribution.
- Entrepreneur Background: Jason Reddish and Val Pinkhasov have backgrounds in the mortgage industry and entered the merchant processing business to help small businesses access working capital without traditional bank loans.
- Sales and Growth: Since partnering with Kevin O’Leary, Total Merchant Resources has seen a 500% increase in business. They expanded their services to include ACH payments and Point of Sale systems for small businesses.
Overview
| Category | Details |
|---|---|
| Name | Total Merchant Resources |
| Founders | Jason Reddish and Val Pinkhasov |
| Industry | Financial Services |
| Product | Credit card processing and receivables factoring |
| Funding | Self-funded |
| Investment Ask | $200,000 |
| Equity Offered | 20% |
| Valuation | $1,000,000 |
Jason Reddish and Val Pinkhasov enter the Shark Tank to pitch Total Merchant Resources in episode 509 on October 25, 2013. They are in the merchant processing business; that means they set up businesses to process credit and debit cards. They offer other services too, which may appeal to many entrepreneurs whether they’re on Shark Tank or not.
Total Merchant Resources is in the credit card receivables factoring business. That means they buy future credit card receivables at a discount from a business and give them a lump sum, cash distribution. This allows businesses to get access to working capital to expand or purchase inventory without taking out a bank loan. It’s a fairly common practice and businesses that have a lot of credit card transactions can get their hands on large amounts of cash quickly.
Total Merchant Resources Shark Tank Recap
Self described “mini sharks” Jason and Val enter and ask for $200K for 20% of their business. They explain how they provide small businesses for alternative financing solutions. Kevin asks a hypothetical loan scenario question and they explain how they recoup their loan by taking payments from their credit card processing. They use these loans to take over the credit card processing for businesses. They end up getting 74% of their clients processing business as a by-product of their lending activities.
Jason and Val explain they both have a background in the mortgage industry. They want the Sharks to introduce them to larger processing accounts, so they can get residual earnings. Lori is unsure, so she’s out. Robert says it isn’t a market for him, so he’s out. Mark thinks the industry will get regulated, he sees the value of the business, but he doesn’t want to be the deep pockets in the business – he’s out. Daymond goes out too.
Kevin says he’ll partner with Total Merchant Resources, but he wants 50% of the business for $200K. Mr. Wonderful says he’ll take them to places they can’t imagine. He’ll offer his access to capital and his connections. O’Leary says he can do this business himself without them. Jason and Val step intoi the hall and Robert says every Shark Tank business could use his services.
They guys come back in and counter with $250K for 25%. Kevin says his name will geometrically increase their business. He asks for a yes or no answer. The guys think about flipping a coin about the deal, but accept Kevin’s offer.
Total Merchant Resources Shark Tank Update
Since partnering with Kevin O’Leary, Jason and Val’s business has exploded. The video on the Total Merchant Resources website features the pair, explaining how the industry has grown and become known to more businesses around the world. Total Merchant Resources itself has seen a 500% increase in business since appearing on the Shark Tank.
The pair of entrepreneurs have been able to expand beyond credit-card receivables, and expanded their loans program to include ACH payments, as well as Point of Sale systems for small businesses. The strategic partnership with Kevin O’Leary opened doors wide for the partners, and Total Merchant Resources has become an international company, serving entrepreneurs around the world.
As of April, 2023, the company is growing strong with $5 million in annual revenue.
Posts About Total Merchant Resources on Shark Tank Blog
Company Information
They’re “idea” was not “new” – MANY companies have been doing this for years and “railroading” unsuspecting Merchants “trusting” they’re being given a damn about, into exorbitant processing fees, baloney charges, early termination fees when they try to get free-
These guys are “typical” in an industry “filled” with Reps professing to Merchants they’re “caring” to “help” them-
When they really are disingenuous about their real intentions that later get revealed to Merchants- to “take advantage” of bank accounts and Merchants entrusting them.
These guys are “typical” processing industry peeps
I’ve been cleaning up after their impact and helping Merchants “OUT” of their shenanigans… for “13” years not. They didn’t invent this loan to merchants – Many companies have been doing it and whack Merchants at outrageous effective rates and wrangle merchants into being “stuck” in crazy thieving … UNTIL they can pay off loans.
Scam artists taking credit for creating something that’s been around since before I started cleaning up the hooey in 2007!
The “only” ones they’re truly helping … Is “themselves”
Is abominable what these guys and the majority of Rep’s and biz’s in the Merchant Processing “do” “to” Merchants that entrust them.
Honest people “trust” people – These guys and the many like them – “Use” that knowledge to take advantage of honest, trusting people. School of hard knocks has hit far too many Merchants at far too high a cost, from the likes of these guys in this industry.
Is a shame Mr. Wonderful didn’t research the validity of the business “idea” these guys were promoting on Shark Tank as “their” unique concept.
More scam artists typical to the “Many” in Merchant Processing – Tell people what they want to hear than take advantage of them once hands are in Merchants bank accounts.
Amazing how so many convince themselves there’s nothing wrong with their manipulative tactics and sleep at night.
Haven’t met a Merchant in 13 years that hasn’t woken to reality after was too late.