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Very, very true!

Some underwriters actually happen to be spies for OTHER ISOs. Take that from me. I can't say it enough. So when the guy said "trust no one," you might as well include yourself in that. Literally, don't even trust yourself, as you may get attached to a dead deal @ times, & that deal will eat up valuable time that could have been spent working on 3-4 other deals that would have all gotten you paid a lot more. There's so much advice people can give you about this industry, but Fetachini said what were my 1st thoughts: "Find a different industry." This one can get quite disappointing, when you realize many folks have absolutely no respect whatsoever for your hard work. They'll backdoor a deal, sometimes even in your face, if that's even possible. They do it in a way that you won't even doubt it was them who did it. Others feel you're their own personal rep once you submitted a deal to them. They'll give you a crappy offer, but expect you to "just sell it!" as though you're really working for them. They think you're stupid & don't know there are other funders who can do better; that you were just giving them a chance to earn your submissions. There's so much to this business, I swear the best way to go about is to cross your fingers, work as hard & as smart as you can, & expect some losses. Write them off to the game. But guaranteed, you'll find straightshooter funders & brokers along the way. Those people will be the blessing. They will make the journey worth it. Good luck!

And none of them will have read the part where the merchant is located in Virginia...

If the daily comes off the top (ie a split), the balances in his bank still get lower, what happens when he goes negative and racks up NSF charges, and his bank account eventually gets closed....

Lot of funders will not touch this because it's in VA, new laws went into effect friday.

Here's some advice.. find a different industry, this one will take your soul. But if you decide to stick it out then - don't trust anyone that includes merchants, everyone is a fucking liar except the underwriter (just wrong sometimes) - It's not hard to open up your own broker shop, why split the commission? I opened up my first broker shop after being 6 months in the industry. (Then again most of the good funders aren't taking on anymore isos so the funders you are left with you need to do research on. If you never seen them in bank statements, most likely they are not a funder) That's the only way you'll achieve commission you are looking for. - LEADS are everything, lot of bullshit out there, so don't go buy big batches always get small samples of leads to test out. (I have a great connection for one but they are pricey) - if you decide not to open you own shop, look around for other brokers to work for and see who offers something better. If you are a top closer then negotiate your commission.

So they freeze their accounts so they can't take out the cash then?

It's a patience and tolerance lesson....helping to learn detachment. Happy Independence Day.

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As in their checking/ saving account as collateral

bruhhhhhhhhhhhhhhhhhh lmaoo. savage af.

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There is nothing smart about this. Never take advice from a guy whose own website looks like this: https://www.fcbankcard.com/ How embarrassing. It’s NOT mobile friendly, and has some random ass picture taking up most of the page.

No funder is ever seeking Dave’s help with anything. All Dave peddles is useless shit. If you ever want useless shit, hit up Dave because he’s got a ton of it. An example: Once saw Dave outside a Costco selling STARBURY and OLYMPIAN shoes — but only the left foot shoes. He was selling them for $200 each.

Lol, what are you bored and 12? Speak full thoughts or keep to the back of the cheese bus with the windows rolled up

Being in this space for at least 9 years you should already know the answer to this question.

I don't think you understand how business works, lenders use google sheets and similar services because they are easy and free. it takes five minutes to make a google sheet and costs nothing, creating a program that has the same level of utility would take millions and honestly isn't worth it. also good for you on make a few sales over the years that may be why your LLC is no longer active and most of us screw with you. you are easy low hanging fruit that constantly puts yourself in the position to be messed with 99% of what you post has very little relevancy on this board and you do not conduct yourself like the rest of us, essentially you are the black sheep and pay the price.

With a credit split the funder receives their money 1st - then the merchant - No ACH Rejects. That is the purpose of a Lock-Box - Split Funding The amount of funds they are seeking will be a long reach - but as Quickstone mentioned - if the vendor is paid direct

SY

oh yeah its on my app under time in business

stop being an easy target and posting dumb advertisements and people may stop coming after you mate. You realize that half of the lenders out their run their operations off off a google sheet and maybe a CRM. no one in this space needs a server its a waste for what we do nor do they need any of the other dumb products you promote on here, its why we fuck with you.

WOW. Not a surprise.

You need to put it in the loan app for original entity TIB though. I'd call the lenders back.

I attended a function where Mookie Wilson was the speaker, last week. I don’t know why they wouldn’t just pay of Bobby and be done with it, it’s going from 6 million to 30 million with the deferred payments.

yeah i usually include a short synopsis in the submission email, and i have detailed that

Did you submit it with TIB for the original sole prop entity? I'd go back to some of the lenders and have them do a second look using the original entity TIB as my company would consider it back to the original sole prop TIB.