3rd Party Comments About the FundingNet Opportunity

In June 2023, FundingNet's programs were presented to a number of select clients and associates of our agent company, TMI and Partners in New York. These presentations were made at the offices of Mitchell and Titus in the Manhattan financial district. Mitchell and Titus is the largest minority owned/operated accounting firm in the United States.

Across two days of presentations these TMI clients/associates learned the nuts and bolts of how the FundingNet Multiples Program works, as well some background details of how we partner with our banks and Bonding affiliates to provide our low cost loans to clients with minimal/no risk. The FundingNet Loan Sponsor Program was also presented in detail.

Please view the linked video below to hear what some of the presentation attendees had to say about FundingNet's programs.

FundingNet Participates in 118th Congressional Black Caucus

In July 2023, FundingNet extended an invitation to TMI and Partners of NYC to become a direct representative/agent of the FundingNet programs. TMI and Partners is a proud minority-owned company, bringing business and marketing solutions to other minority owned businesses across North America. Operating as a 3rd party broker of FundingNet's programs since 2018, TMI's fierce devotion to our programs, as well as their persistent efforts to drive additional funding resources to their clients, have made them an ideal organization to partner with.

One of TMI's business partners is Heart and Soul magazine, headquartered in the Washington DC area. Heart and Soul extended an invitation for TMI and FundingNet to participate with them in the 2023 Congressional Black Caucus (September 20-24), an invitation that was gladly accepted. The Congressional Black Caucus is an annual event made up of (mostly) African-American members of the United States Congress and Senate, and attended by tens of thousands of business owners, as well as foreign and domestic governmental dignitaries. The awards ceremony on the evening of September 23rd featured speeches by both USVP Kamala Harris and US President Joe Biden.

FundingNet VP/Filmcabbage President Cliff Endicott, with TMI and Partners CEO Alvin Hartley.

Throughout the event, Heart and Soul magazine and TMI and Partners presented FundingNet's Multiples and Loan Sponsor Programs to qualified attendees, including a number of financial officers of governments, as well as business owner attendees. FundingNet VP Cliff Endicott was present to answer the more complex questions, and have high level discussions with those interested in utilizing the FundingNet programs.

FundingNet was extremely proud to have been invited to participate in this event, and we thank our new agent TMI and Partners, as well as their associates at Heart and Soul magazine, for welcoming us to this celebration of business and community.

On left: TMI and Partners CEO Alvin Hartley, TMI legal counsel Mal Woolfolk, FundingNet VP Cliff Endicott, and Wayne Biggs, CEO of Virgin Islands Economic Development Authority.

On Right: Cliff Endicott, Mal Woolfolk, Alvin Hartley, Marketing Director US Virgin Islands Celina Morris and USVI marketing team member Kyle Thomas.

The Ongoing Evolution of the FilmCabbage Program

When we introduced FilmCabbage in 2018, the processes we had in place for the FundingNet Multiples Program had been operating reliably and problem-free since 2005, when the program was strictly a wholesale lending program. Since the onset of the COVID19 epidemic in 2020 there have been some challenges to those processes, which has resulted in major updates to our program to ensure the security of our clients' initial funds.

Whereas we had previously used 3rd party fiduciary companies, law firm IOLTA accounts and registered escrow agents to hold client funds in safekeeping, FilmCabbage clients had often asked us for a more regulated method - one where the security of their funds would always be under the constant scrutiny of financial authorities. As a result, as described on the various pages of the FilmCabbage website, we have overhauled all processes related to client funds so that everything now exists in a completely regulated environment where the borrower / investor's qualifying capital is not only overseen by a fully regulated entity, but also earning 5% / yr. while it sits safely on the sidelines..

Now, when clients approach our Multiples or Loan Sponsor Programs they are put directly in touch with a securities issuer, who will bond their funds through that fully registered and regulated security. There are 7+ ways clients can pledge their funds to this security which, once in place, unlocks multiples of their initial amount to become their loan. Since all funds are pledged to a governmentally regulated security, and clients receive full disclosures on this security from the issuer (which they can have their securities lawyers examine to any level of scrutiny they require), it ensures that their funds are always safe, secured and earning while their loan is outstanding.

Once the loan is settled, their funds are released from the pledge to the bond (often without ever having left their own bank account) and are free to be re-allocated elsewhere. There is NO CASE EVER that the client's initial funds do not end up back with them, even when the project fails and they are unable to repay us. That's correct - their funds are never used as collateral for the loan, and never at any risk from loss. Only FundingNet/FilmCabbage's loan funds are at risk, as we assume all potential risk for the project at hand.

At FundingNet and FilmCabbage we strive to ensure any risk to the client funds is always fully mitigated. By evolving our processes and safekeeping mechanisms into a fully regulated environment, we have eliminated any possibility that client funds could ever be exposed to risk or ever be mis-used by the involved 3rd parties. FundingNet never has any involvement with client funds, but in making these changes we have completely ensured that all parties are always fully protected.