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  • mcaindustryveteran's Avatar
    09-15-2021, 12:38 PM
    I’ve been in this industry for over 8 years in numerous capacities and have always heard the term “backdoor” as most anyone has if they have been in this space. Fortunately, I never directly have felt the impact of what that really means till recently. As any good funder/broker/iso etc. protecting your data is key. Our long-time clients started to get random calls and give us feedback that someone was calling them while we were working on a deal and trying to solicit the offer out of them 15 mins after we presented it. Fast forward we had 3 applications that directed back to our company phone. Miraculously Lendora Inc out of California and their rep Sheri reached out shortly after our file was submitted. Asking where she got our info from she proceeded to tell us that “her boss” gets the info and gives it to her to call on. And I asked how she got my info and she proceeded to text me VERBATIM. “well we are DIRECT funders and we work with 600 BROKERS so that’s how we got your info. We don’t usually like to work with them!!! AKA backdooring. I got a call from Ben Amar who said he runs Lendora’s operations for Jeffrey Essebag. Ben proceeded to tell me that this is just how the business is. Either get with it (using stolen data) or be left behind. Said there is too much of it for me to waste time bothering. Then I showed him the texts and emails I have of evidence and tone changed. Personally, I disagree. I know it goes on. But I’m not willing to just accept it as common practice. I’d be happy to provide further evidence of all of this if needed. But if that doesn't say we backdoor i dont know what does. Whoever does work with Lendora please beware…..
    50 replies | 3056 view(s)
  • Kevin G's Avatar
    09-09-2021, 10:49 AM
    Submit to queen so they can backdoor to triple crown and they brag about it lol shady shit beware
    30 replies | 2889 view(s)
  • SKITTLES's Avatar
    08-31-2021, 11:21 AM
    Funded a deal through a broker. Broker says Ikan not paying commission for over a month. Broker won't pay me. Ikahn doesn't answer phones, emails or payment request. Suggestions???
    25 replies | 2578 view(s)
  • Jstarr's Avatar
    08-30-2021, 02:11 PM
    What do you think about this?
    19 replies | 2425 view(s)
  • Robinhood21's Avatar
    09-14-2021, 09:46 PM
    Rapid just killed my deal in after sending in all the stips!! saying the business started in December of last year but clearly on the SOS it states it was almost 3 years ago. dont understand???
    21 replies | 1930 view(s)
  • FLORIDAMAN's Avatar
    08-31-2021, 10:25 AM
    Who remembers the first MCA deal they ever closed? Was it a mess you used as a learning experience or did the deal end up being a great client? I bet some of us have some pretty entertaining stories
    18 replies | 1759 view(s)
  • LondonTeaParty's Avatar
    08-31-2021, 06:22 PM
    Just funded a deal with these guys, our rep Josh Ross was great. Had a deal that needed an extra touch for a partial consolidation and he got it done. Highly recommend reaching out if you need a reverse done. Josh Ross | Director of ISO Relations C: 267.987.4278
    18 replies | 1366 view(s)
  • happyman's Avatar
    09-02-2021, 11:30 AM
    The religious community will be on celebrating holidays for 10-11 days out of the working month - do you think the industry will take a hit this month?
    11 replies | 1969 view(s)
  • kevin85k's Avatar
    09-14-2021, 12:42 PM
    Hello Everyone!! Who will be open/funding during the Jewish Holidays??
    14 replies | 1129 view(s)
  • loan's Avatar
    09-20-2021, 04:06 AM
    Long story short, a shady funder in NYC backdoored our deal and gave the merchant the typical bait and switch (take this MCA and we'll give you a 3% 10 year loan after). Commission was stolen, among other things that'll have legal repercussions. We've retained counsel already, but wondering if anyone had recommendations for cases like this.
    18 replies | 558 view(s)
  • SuperCloser's Avatar
    08-26-2021, 02:10 PM
    I am wondering if you need a CFL license to fund advances nationwide if your entity is formed in CA. Thank you in advance.
    13 replies | 1050 view(s)
  • Bcooper's Avatar
    09-10-2021, 04:01 PM
    hi yall I need someone who is willing to compete with pirs and kapitus rate and terms. I've got a merchant that's in the 100k+ per month range and he's liquid af but he needs more money than what he has on hand and would rather use someone else's money for his expansion the problem is no one wants to go past 100k and the merchant is not interested in stacking nor am i. I realistically need a 250k offer I know its a long shot but the merchant has his eidl in process (someone tried to file fraudulently under his business so its taking time) this merchant is a+ paper and would be a bank client but right now he needs speed and understands he will pay for it. this merchant's buy rate is in the low teens and qualified for max term with both lenders. I need someone willing to compete, no brokers please I will verify that you are an actual lender before sending the file and I will look into your background and reputation. this is not your normal file and I'm no newbie.
    13 replies | 1055 view(s)
  • Zgelsky's Avatar
    08-29-2021, 09:17 AM
    My name is Zack Gelsky, I've been in MCA for about 2 years now and I'm always looking to develop close partnerships. I want to get my foot through the door with the big players. I’m known on here as the “AirPods guy” LOL…(: If there's one thing I can tell you, it is that I am always up early because I want to be successful. I have so much to work for and I’m getting closer to my goals every day. I’m not gonna get there by just maintaining the current brokers I have, I need to reach the top. I treat every single file like it’s worth a million dollars! We are best at deals where the merchant is at a third Position or higher (3rd to 6th) We specialize in bigger deals. We go up to 6-7 months at a daily or weekly. We fund a lot of smaller deals but what we are greatest at is giving high dollar offers (70-150K plus we are amazing at the 300K+ mark deals. Especially when the merchant is making 1M plus. I don't like to talk about other companies, but I will say that this is us. We don't want to start off with crappy deals in the beginning like most other lenders have to, let's start off with the better deals. I do not want your bad deals. I'm giving you the world, I have the money to back it up. I want to show you what we can do in this industry. We have the guts to throw it out. We want to make money. Just like you're sitting down there or standing up during power hour hustling it out to make money, we want that too. Most importantly, we pay on time. Every time we fund a deal with a broker, commission goes out on Monday. We ACH the commission and it hits your account on Tuesday. I’ll show you that I will beat our competitors and compete with the very best! We’re a small firm, small in numbers but big in power. We have the heart of LION. I have the traits of a lion and eagle flying down into the valley to hunt its prey. I know you have your relationships with certain lenders and the whole trust element. If you give me an opportunity, I will work my ass off to get the job done for you. I’m the only rep for my company so I take full responsibility on what I say and do. Send me an email or give a call if interested in doing business, I am always available. 972-755-1568
    9 replies | 1636 view(s)
  • Triumph Solutions LLC's Avatar
    08-26-2021, 04:09 PM
    What do people use for CRM systems as well as portals?
    10 replies | 1092 view(s)
  • Moneyman777's Avatar
    09-22-2021, 03:53 PM
    Merchant will be a 3rd position First position 15k second position 11k Monthly Rev 40-60k Credit Low 600s
    11 replies | 639 view(s)
  • Dcohen's Avatar
    09-01-2021, 07:37 PM
    Question for all my funders out there. How do you guys go by if an ISO stacks you and the deal goes bad but the ISO sends a lot of business? FYI this is just a friendly question. Please don't start your war shit of comments on this thread.
    7 replies | 1112 view(s)
  • Cashyew's Avatar
    09-02-2021, 07:19 PM
    Thank you to all of you that participated. We raised $1500 for the families of the fallen soldiers in Kabul. You can still give. Just click on the photos. ATTACH]2929
    7 replies | 989 view(s)
  • DLD420's Avatar
    09-14-2021, 04:13 PM
    Business has personal account if you fund these please reach out to asap
    8 replies | 726 view(s)
  • davis3003's Avatar
    08-31-2021, 03:23 PM
    I have a merchant that has a farm in California in need of funding for his up coming season which starts in October/November. He makes no deposits from May until October but keeps money in his account around $50k (Ending balance). Last year and this year were his monthly deposits: November $61k December $220k January $138k February $228k March $78k Apr $60k The merchant needs around $50k. His credit score is over 700. Let me know if anyone can help.
    7 replies | 853 view(s)
  • Dailyfrog's Avatar
    08-30-2021, 03:48 PM
    Hello, A friend that owns an iso told me that he thinks of redirecting deals to another funder since they give him the following offer which supposedly making the iso more money than the funder itself. The offer is this: Every deal that the iso submits and he syndicates 50% the following terms apply: 1- 12 points to the broker at 1.50 (nothing special) 2- 50/50 split on the closing costs 3- No syndication fees, funder says he pays a super low fixed price that isn't volume dependent with his bank so he doesn't charge management 3- They split nsf's/bounced payments fee (the funder claims he only gets charged $1.50 on nsf's so they split a buck fifty) 4- in case of a default they split collection cost In a case of a 100K @1.50 with 10% closing cost deal that paid in full the broker and the funder both make this: ISO - 50K X 1.5 = 75K +5K closing cost + 12K commission - 6K (participation to iso on the deal) = 86K (gross) - 50K principle = 36K net rev Funder - 50K X 1.5 = 75K +5K closing cost - 12K commission + 6K (iso participation on the deal) = 74K (gross) - 50K principle = 24K net rev This means that the ISO is making 72% on the money and the funder walks away with 48% Is this a real / possible offer?
    9 replies | 1049 view(s)
  • Kash's Avatar
    09-01-2021, 03:17 PM
    Merchant has a mortgage and looking for a second position lender that would fund based on the property value. The property is owner-occupied. Home is in CA. Looking for lenders other then WBL Best Regards,
    6 replies | 874 view(s)
  • brokerCompany's Avatar
    09-08-2021, 03:26 PM
    Any co broker MCA deals in CALIFORNIA? Or any funders take CALI MCA?
    8 replies | 551 view(s)
  • skideeppow's Avatar
    09-09-2021, 12:05 PM
    I have a hand car wash that is doing around $350k a month. Has funding out and is getting a 1.19 over 12 months. Besides credit cash, anyone doing terms like this? Thanks for any suggestions
    7 replies | 730 view(s)
  • Redd1st's Avatar
    09-02-2021, 10:29 PM
    Redd1st started a thread Synergy in Everything else
    Hey guys, I reached out to several companies for leads live etc. This was the only company who actually replied to me in a professional manner bonus! What I want to know has anyone has any dealings with them with live leads. If so what was their experience? My phone interaction was great I even received everything I discussed with them in writing and my follow-up questions were answered promptly. I just need to know if their live leads are worth the money their customer service is so far on point. Just need to know about the quality of the live leads.
    7 replies | 798 view(s)
  • goatFunding's Avatar
    09-01-2021, 05:28 PM
    goatFunding started a thread Small trucking in Deal Bin
    freight solutions.. doing 15K no positions.. majority of deposits are zelle's. Who can fund this?
    5 replies | 916 view(s)
  • Jstarr's Avatar
    09-13-2021, 12:50 PM
    ** Correction, small business lending. Facebook is the latest tech company to enter the small business financing space. Starting October 1st, Facebook will begin offering eligible American businesses the opportunity to sell their invoice receivables for cash upfront. The only cost is a 1% fee of the A/R and invoices can be as small as $1,000. Dubbed Facebook Invoice Fast Track, a promotional video touts it as a solution to cash flow challenges. The caveat is that it will only be open to businesses owned by minorities, females, veterans, LGBTQ+ or someone with a certified disability. Also, the invoices must be issued to a corporation or government entity with an investment-grade rating. An outstanding invoice from something like “Joe’s corner t-shirt shop” for example, would not be eligible. Facebook COO Sheryl Sandberg predicts the company will be funding $100 million in invoices on an ongoing basis. That’s not all, however. The company is also introducing a new small business loan resource through an arrangement with Connect2Capital. Facebook claims that in doing so, it is not “brokering” loans.
    5 replies | 895 view(s)
  • abfunders's Avatar
    08-26-2021, 10:12 AM
    Who wants to try to beat an offer for a freight broker? I'm aiming to beat a 20k / 1.40 first position, last 3 months $20-$22k of deposits. Credit is bad, less than 1 year TIB. No factor yet. The biggest challenge is that I only see 1 deposit per month, so I really have no idea who on earth would have given that 1.40 offer.
    7 replies | 719 view(s)
  • viper066's Avatar
    09-15-2021, 08:16 PM
    Seafood Market and restaurant (16 yrs) in MD looking for monthly with great terms $100K PLUS credit score 730 monthly $175k daily bal $80K
    6 replies | 483 view(s)
  • LoftLending's Avatar
    09-04-2021, 09:51 PM
    I own a licensed online installment high interest lending business and I operate in one state. Im looking for an investor to fund the loans. I have been in business for over a year and have built a solid customer base. Installment loan terms of 4-12 months with interest rates ranging from 200%-500%. I can offer some unique high return investment deals. Just drop an email below and ill reach out if your interested. Thanks
    8 replies | 549 view(s)
  • Red's Avatar
    09-20-2021, 07:15 PM
    Red started a thread MCA Refinance in Deal Bin
    We are looking for a directly lender willing to pay off multiple MCA balances & allow client to net additional cash for business expansion & inventory. Good credit, healthy bank statements, good revenue & profit margins. Term Loan with monthly payment 5%-15% APR depending on term.
    7 replies | 342 view(s)
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