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  1. #1

    Principis Capital

    Three of the most irritating, non-fatal things I face:

    1) Going to the dentist
    2) Principis Capital Underwriting
    3) Jock Itch

  2. #2
    Senior Member Reputation points: 23085
    Join Date
    Nov 2013
    Posts
    598

    Whats your take on their UW?

    Im going through a deal myself with them right now and they keep coming back constantly with more stips.

    As far as jock itch there's a cream for that lol

  3. #3
    Senior Member Reputation points: 5023
    Join Date
    Apr 2015
    Location
    Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
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    554

    I've done a few accts with them, 2 in the US and one in Canada....they did completely screw up the Canada acct with last minute stips and lost the renewal.

  4. #4
    Senior Member Reputation points: 23085
    Join Date
    Nov 2013
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    598

    Quote Originally Posted by John Galt View Post
    I've done a few accts with them, 2 in the US and one in Canada....they did completely screw up the Canada acct with last minute stips and lost the renewal.
    Yea their UW process seems draconic to the say the least. Just asked me for a tax return and site inspection which they should've stipulated since the beginning.

    Im hoping for a quick close on my deal that started Wednesday, its a 6 figure deal too...

  5. #5
    They are absolutely brutal with their underwriting...constant rounds of stips. I've dealt with this three times in a row on deals that have been previously funded, I'm having the merchant take less money with another funder because they are absurd.

  6. #6
    And you're right FCF, thank God for jock itch cream lol

  7. #7
    Senior Member Reputation points: 8656
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    May 2015
    Location
    NYC
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    197

    Quote Originally Posted by drosc5 View Post
    They are absolutely brutal with their underwriting...constant rounds of stips.
    From what I've heard this is the general consensus. One of my ISO's submitted a file that needed same day funding because Principis was about to take this merchants first born in terms of stips and were asking for more each day. I did take a look at the contract and they do provide solid rates and terms but its not the type of program the focuses on getting it done quick.
    Tommy Stein

  8. #8
    Senior Member Reputation points: 33996
    Join Date
    Jan 2015
    Location
    Laguna Beach
    Posts
    463

    But they issue approvals in less than 120 minutes!!!


    And then denials after signing.

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