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YES. REALLY DID NEED IT. We were told basically the same day of pay out that we wouldn't get paid. An emergency happened within the office, plus it was the 1st of the month. It would've done us a great justice. Not only that but working on expansion and need to pay for things we need, we shouldn't need to rely on our own funding if we don't have to. In fact, THE MERCHANT advanced US for their error until the FUNDER decides to pay us in order to make things right! The fact that we can't receive the same support from the funder (who wanted us to continue bringing them good deals) speaks volumes! They only offered that deal to compete with another lender we already had a relationship with. They offered the same deal and added like 10 more days and drew us in thinking business with them wouldn't turn to this. The 1st pos we got them was for 11 months with another lender few months before.

Just came across a customer who apparently got a line of credit from Vanguard. This client didn't qualify with On Deck, Headway, Idea or Rapid. Has anyone used them or heard about a line of credit from them? Also, they apparently require him to take a couple of MCA positions before they give the LOC...

There's no doubt that we are a small brokerage and still building. That still doesn't give room to be disrespected like we do not matter. An agreement is an agreement. WE THE BROKER DON'T NEED A LOAN OR AN ADVANCE! CREDIT IS 750+ here WE haven't defaulted. If we had to pay back a clawback then that's what WE AGREE to do. Not here to pay interest if we don't need to. So if there was a clawback, WAIT FOR THAT SITUATION TO PRESENT ITSELF, LIKE THE CONTRACT SAYS! But it never happened! This merchant averages 100-300k now $500k a month and averages over $40000 per day. If anything negative happened, it was technical, and the fact that we actually build relationships with our client, they will make sure they remain on track. If our shop became a Funder or Lender, which may happen one day, we wouldn't treat our brokers this way. Accepting the risk that comes with advancing (anyone) money should be standard. It is up to the funder to assess the risk properly and effectively, and propose accordingly. Not BREACH the contract with the players on THEIR team. If those are your terms ADDRESS THAT IN YOUR CONTRACT CLEARLY! Instead of the ISO Agreement saying: "ISO MUST BE PAID WITHIN (7 BUSINESS DAYS) WITH A CLAWBACK PERIOD OF 30DAYS" It should read: "IF CLIENT MISSES A PAYMENT, YOUR COMPANY WILL BE PAID ON THE BACKEND." Give someone the opportunity to decide if they really want to do business with YOU! We are NOT relying on the commission of 1 deal. Just because I'm being adamant about "30 Days", does not mean we wouldn't want to get them to renew or push for repeat business. DEMANDING to be respected within the stipulations of our agreement is FAR from being a toddler. Those paragraphs are way too long. I WILL CONTINUE TO POST AND EXPRESS EXACTLY HOW I FEEL WHEN I FEEL. Silence me for what? We will NOT tolerate the FUNDER disrespect. AGAIN, my client CONTINUES to pay DAILY! There's NO ACTIVE DEFAULT. The only thing that needs to change is the way Funders treat and USE their Brokers. It's illegal to force free work, and everyone has a fee. Collect it how you collect it, but don't stiff the people working in your favor!

Well I just took the chat bot for a spin 2 times and all I have to say is wow!! It was able to carry on a conversation like a human. Not only did the bot answer off topic and often outlandish statements and questions, it also always moved past them and continued to advance the conversation to the ultimate goal of qualifying and then selling the appointment. I tried to throw the bot off several times by saying the most insane off the wall comments and asking it ridiculous questions and every single time it would respond with some sort of either sarcastic or strikingly human backhanded remark and then refocused the conversation to the ultimate goal of setting an appointment after qualifying the customer and gathering all of the necessary contact info and then also asking for documents..... Needless to say I spoke to Ed and I will be moving forward with employing an iteration of the Jenny bot. On top of that the owner Ed spoke to me at length about the technology behind the bot and several other questions and topics that I felt were important to discuss. All in All if you are looking to employ this type of tech I would say look no further because I have tried several other ones that were no where near this bot. Chris Oliveto CEO Bullhammer Business Solutions LLC Coliveto@Bullhammer.org 631-579-8628

What was the factor on the deal @ontap what is your avg buy rate?

Seems so, seems from what ontap said the iso rly needed the $. I feel bad for the iso, but, the funder handled it the way most would who have no relationship with the iso (it was their first deal together). Regardless seems they arent ****ers and did a 2nd pos 160 day deal on a guy w a record (means they looked deep into the deal). With 80k!

Anyone who claims they "never have had a default" does like 2 deals a month max. Lol

Newcdam, your incredulity is remarkable and you keep contradicting yourself, incessantly. A few examples of this: -You at first said you'd have been paid after 90 days, now you're saying 160 days -You say you're not a "one and done", you stay in touch with your clients etc., well, if that's the case, you wouldn't be relying on one single transaction to support your overhead, would you not have a macrame of clients you make money from by servicing them? -You say "we have not had any defaults under our record", really? Do you truly believe that your practices promote a 0% default rate or believe you along with all of us are completely infallible and for decades capital providers have been seeking that idealistic 0% default rate to no avail, because it's incontrovertibly impossible. You're flummoxed over one commission, this implies you're in your nascent stages, maybe 5-10 transactions on your book since your inception. Exceptions don't disprove the generality, as volume persists, you will undoubtedly have a default no matter what you do, another example of the very idealistic and contradictory mentality you still haven't realized is facilitating your acceleration out of the industry. -You say you're synonymous with integrity in the eyes of your funders, how they "call you first" etc., but here you are first in line to abdicate responsibility and understanding when one of your cherished partners has understandable discomfort in a transaction and maintained communications with you regarding this, ultimately implying they are going to pay you once their concerns are ameliorated and now you're spouting how you have no bearing on the file after 30 days and you seemingly have no concern about it succeeding or failing because you won't be taking the hit. Contradictory, that's not a genuine partnership where you're equally as invested in your partners success as you are your own success. The second something doesn't go your way, in your extremely idealistic frame, you castigate the very resource you make money from like an angry toddler but simultaneously make proclamations of being different from the rest of the brokers? I can't believe what I'm reading and I can't believe you actually believe the reprehensibly feverish sewage you're exuding. You need to wake up and see how execrably foolish you've made yourself out to be. And the reason I'm telling you this is because people like you negatively impact my business in aggregate, you make brokers look like desperate whiny inbreds who have zero concern for anything aside from their commission, even if it results in the burning of the funders they make money from. You make brokers look unprofessional and infantile. You need to open your eyes and realize if you continue to operate this way and fail to understand every side of the very transactions you make money from that you'll not only fail to make money, but you'll equally have such a terrible reputation that you won't have any resources left to service your ever so pristine clients who don't default. You are the reason funders like BlueVine, without warning, cut off all of their ISOs at once, you make us look like unprofessional leeches and it's so disconcerting to deal with your kind that they do whatever they can to cut brokers out of the equation. People like you hurt all of our ability to make money, publicly crying on an industry wide forum incoherently representing brokers for all to see, forcing negative interpretations of brokers because the loud minority (YOU) is always the most visibly noticed in our current society like a deleterious poison infecting and deteriorating all positive associations with it with a complete lack of concern for the negative implications exacted and resulted by you, progressively destroying your own reputation along with subtly misrepresenting brokers as a whole. This is what impractical and overt emotion does, it skews one's ability to see things for how they are, and their feverish emotion fuels their own downfall along with everyone around them. If you don't do a complete 180 I'd give you another 6 months max in the industry. Sorry, harsh reality, it doesn't have to be though, you can learn from this and change, but you've proven despite many learning opportunities presented to you on this thread alone that you will continue to operate with emotion instead of competence and understanding, which means whatever happens this point forward after many iterations of knowledge inculcation is on you. Speaking for all here, please refrain from ever posting again unless you change and realize your inhibitions because until that day comes, you'll be doing nothing aside from staining your reputation along with every other brokers reputation. Good luck.

I fund previous defaults. Send the deal to subs@starcapitalsolutions.org or if you would like an iso agreement first what is your email? David Z Star Capital Solutions Chief Executive Officer 40 Wall St New York, NY 10005

Whats your lowest buy rate? It'll be good to have another canadian funder. Per what this iso said, if u gave an 8 month turn to a merchant with a criminal records, means you guys will be solid to use as a funder.

I’m shocked they will take a card. Do it. You can always dispute the charge if it’s not what they say it is. Use an Amex they are most on your side. Regarding minimums. Most lead companies will have one. Just like most funders have a minimum. And just like funding a $5k deal is 10x more work than funding a $50k deal so is selling someone $200 in leads. As soon as someone asks to spend $500 as their max we basically won’t waste anymore time with them.

One deal and done is not what we do, nor is it the service we provide. We actually build and maintain relationships with our clients, and walk them through the process/ don't disappear on them (especially if it's their first advance). The "FUNDERS" actually call us first if there is a bounced payment and we call the Merchant immediately and stay on top of the situation, which is what they did with us. We actually did ONTAP a HUGE service getting a file back on track, so I don't understand your "feel bad" if the funder is actually getting paid thanks to the broker. Because of this, we have not had any defaults under our record. So I don't know what your definition of "one deal and done" is but that does not describe us. Thank you.

You can sue anyone in america. If they lose, then that means, salesforce is possibly the best option other then building your own crm.

If the MERCHANT actually DID DEFAULT, they would be in collections. NOT still paying the Lender directly. As we are currently a few days shy of the 30day period, we as the broker should not have to continue to be subject to deal with it if our clawback period is only 30days. FYI they are a "funder" not a "Lender" Normally I wouldn't nitpick this but clearly you need to pay better attention to details.

I feel bad for Ontap here. When I have a deal that goes bad I prefer to send back the commission with an apology about giving them a bad deal instead of having it debited. Apparently that's pretty rare, which has led to some interesting conversations about how many of these one deal and done shops don't even honor a clawback. If I was Ontap I would not only wait until I recouped all the funds that I disbursed I would wait till i collected enough return to cover the commission, then I would send it. However by then it seems they will have already won in court and they can just keep it. This industry never ceases to amaze me.

We consider at 4 months TIB. Credit card sales based MCA only.

uh oh.......

https://fintalknow.com/centrex_lawsuit Ayyy lmaooo

I had nothing against Diana you just work there. But don't gaslight our conversation and jump into "Broker starts verbally harassing us" Explain why I verbally got upset. I called the MERCHANT to find out what the situation was and there was a payroll issue waiting for a check to clear, but it cleared. WE (the broker) made sure that the merchant fixed the situation and paid ONTAP. Now the merchant has triple sitting in his account and is paying you ON TIME everyday. Because of that, you said you will see if we can get paid friday, so I called on thursday to confirm and Jay said we wont be able to get paid until the 17th. Pissed off and irate I further tried to understand and he said he will see what he can do. I called back and said this is a "problematic file" and a "default" and we would not be able to get paid until the backend of the deal. Now Im furious, and ONLY because of that frustration is the reason I brought up this DEBATE to discuss opinions and options with other experienced brokers. A DEBATE is not slander. Our contract clearly states clawback period is 30days and we should've originally been paid within 7 business days. Now I get the need to want to see if things get current and you want to hold off on paying. But waiting until 160days is finished is not anywhere in our contract. The only people in default in my opinion is ONTAP. You agreed to take on this risk and responsibility, and the merchant is compliant and paying daily. Where is the respect for the broker. There isn't any! You're PENALIZING the broker for something the MERCHANT has done, NOT for something the broker has. If clawback is only 30days why do we have to wait 160? We have a contract in place. Brokers are the ones bringing you deals, but you have no respect to pay the broker so they actually can take care of their business to market, bring new clients, and pay their employees. There is nothing "personal" about those reasons. OFFICE RENT OVERHEAD and BILLS need to be paid. We have done our job but you are FAULTING us as if we created or IGNORED his schedule of payments, and now our relationship is obstructed because there is no TRUST between the broker and the lender now, ESPECIALLY if a lender refuses to pay according the original contractual agreement. If the MERCHANT actually DID DEFAULT, they would be in collections. NOT still paying the Lender directly. As we are currently a few days shy of the 30day period, we as the broker should not have to continue to be subject to deal with it if our clawback period is only 30days. In my opinion, if the Merchant is paying as agreed, and there has been no further issue, the only person in default is the Lender for not paying the Broker. Don't care if that is the way things are, there should be more protections for the broker to enforce an ISO Agreement. As a broker, we should've never trusted the LENDER for a "try". Moving forward we would not trust a Lender who is afraid to pay the broker on the same day/ next day. In my opinion, that is just a ploy to X the broker out of a deal. Because let's say they actually do default, but then pay in full after default. The broker STILL won't get paid for the work they've done. Hats off to the LENDERS who don't drag brokers into the risk they agree to take, offering same day pay and ZERO clawbacks.

If you want an all in one system, Close.io has a great power dialer along with everything else like sms and email blasts. Do a free trial, It's totally worth it for the price.

You'll get a better feeling buying a homeless person a meal. Don't enable the animals from keeping doing what they are doing. I'm telling you it's not legitimate.

Thats what i was thinking honestly. Just send him a couple bucks to see. 50$ wont kill me.

No one will do what this guys is offering. Its likely impossible. I would risk $50-$100 Which can get you about 5 "leads". See if he sends it. Most likely will respond with "we have a minimum requirement" Keep us posted. If he turns out legit lol, you got a goldmine.

Do not send this scammer any money. Lexicon has good data for cold calling and so does Meridian

We tried dumbleads, That was joke. The guy was super weird and sent us like a list of merchants who one half have been out of business for years and like half of them answered were widowed. Moved on to Cashyew. These seem a little better. Might try Meridian next?

He dm'ed us on IG. I asked him for a sample and he sent me like a recording of a call, A bunch of partial screenshots of a spread sheet, some merchants bank statement and a completed app. LOL. Doesn't really seem legit. But listening to the recording, the idea of getting someone prequalified on the phone who actually wants to talk sounds pretty good to me. Was thinking about sending this guy like 45$ and seeing what he could give me. Or trying some other lead sources that do similar things

Phoneburner is a good option.

This is spot on

My opinion, this sounds to good to be true and it probably is. Not only are they promising Live transfers, but a full file where they do the chasing for only $15 bucks a pop. Live transfers alone go for $30/ea on the low end. Ive bought these offers below multiple times. Here is what happened: 1) They never deliver and say there is an issue or just stop answering 2) you get 1 or 2 files, you get excited that it actually is true and then no more files. My advice, either pay after delivery, pay prorated amount or on a weekly basis, or take a smaller order that you don't mind losing money on to build a trust Did you get a cold email on this?