[DataMerch]

**Looking for Direct Funders Only **

We have developed a new website/database called www.datamerch.com. This company is designed to help funders determine if a future client of theirs has a bad track record in the alternative loan industry. Our site is broken down into two parts. First, it allows the funder to enter in a merchant’s information if they are a bad account on the funder’s books. This can be defined as a default account, payment adjustment, fraudulent documentation, etc. We are only looking for merchants that you wouldn’t ever want to fund additional working capital to in the future.

The second part is a searchable database that can pull up records based on federal ID number. This allows you to scrub any future clients against our database to make sure they do not have a negative history will a past competitor. This part can save a funder tens of thousands of dollars. The site is designed to allow you to add notes on an existing record or a newly created one. Each company will have a single admin log in but multiple sub users can be added. This will allow your team to access information in data entry and underwriting searches at the same time. The list of data is only accessible by federal tax ID number. The only way a record would pop up to another funder is if they have that information. There isn’t a master list of merchants that anyone can see. Records are only viewable by having the merchants FEIN. No other funder will know if you have 1 record or 10k records in the database.

The amount of direct funders in the alternative lending space keeps growing each month but there isn’t a shared space to help each other battle fraud and/or bad accounts. We know some funders are set up with The North American Merchant Cash Association (now SBFA). That network comes with a blacklist of merchants but only limited to those members. Plus, it also charges a $3,000 monthly fee. Our site will be as a free service for a long period of time.

Please email support@datamerch.com for more information

[WhoisKingsley]

So your basically letting funding companies give you the information of their "bad merchants" that you will soon charge people for?

What will you be doing with all of this data? How is this certifiable information? Can anyone can add anyone or make up information about the merchant to keep others away just by plugging in a bad review and the FEIN number.

The general need of a "black listing" is a great idea to an extent but networks like the SBFA and my company PSC offer red flags that are true cases and offer other supporting factors that make a membership "fee" whether $10 - $3,000 make more sense. You are opening the door for disaster and a lawsuit in my opinion.

[DataMerch]

The database is partnering with funders that have been established in this industry for a long time. If I a funder entered fake notes on a merchant, then it would be discovered by reviewing the bank statements. Example...if Rapid said a certain FEIN number was a collection account and another funder saw them deposits funds into their bank account. Then clearly that is false and that funder would be terminated from the network.
We have done many months of legal work on our site so we are fine on all fronts.

[FCF Fund]

I think the service is a great idea for participating members who are not with NAMAA AKA SBFA. The more we all share in industry data the more we all benefit, brokers included.

Clearly this is a beta program so there will be kinks to work out, but I don't see any major issues that couldn't be overcome by dedication and ethic.

Hopefully this service would be available somehow to "certified" brokers as well, Im sure plenty here would pay for the service of verifying a new applicants, I know I would.

[blKC]

Sounds illegal

[DataMerch]

Sample record recently entered. Imaging Company in NC. "This loan is fraud and drivers license is not a valid number and picture of on the DL is not the right guy from the company website"
Sign up today! Completely free for direct funders. www.datamerch.com is designed to help funders determine if a future client of theirs has a bad track record in the alternative loan industry. First, it allows you to enter in a merchant’s information if they are fraudulent and/or have a negative repayment history. The second part is a searchable database that can pull up records based on FEIN. Email support@datamerch.com

[Michael I]

the third part is you will sell that data to some iso as leads if they are not fraud . to me free means there is some sort of catch . good luck

[DataMerch]

Hi Michael. Our Terms of Use Agreement prohibits us from selling any data to a 3rd party companies. Our database is free to direct funders. If they see a value in it months down the road, then we will switch it to a reasonability priced monthly subscription. Please let me know if you have any other questions.

[Sean Cash]

I think the service is a great idea for participating members who are not with NAMAA AKA SBFA. The more we all share in industry data the more we all benefit, brokers included.

Clearly this is a beta program so there will be kinks to work out, but I don't see any major issues that couldn't be overcome by dedication and ethic.

Hopefully this service would be available somehow to "certified" brokers as well, Im sure plenty here would pay for the service of verifying a new applicants, I know I would.

Agreed