Activity Stream - DailyFunder Forums
Need a Funder or Vendor? START HERE

Activity Stream

All times are GMT -4. The time now is 07:10 AM.
Filter
Sort By Time Show
Recent Recent Popular Popular Anytime Anytime Last 24 Hours Last 24 Hours Last 7 Days Last 7 Days Last 30 Days Last 30 Days All All Photos Photos Forum Forums Articles Articles Blog Blogs
  • aaron4235's Avatar
    Yesterday, 07:57 PM
    We have been using Ringover, but its really slow and we have to deal with people not answering and we sit there most of the day just listening to the phone ring. We want to use something like Augutech or Convoso where it only connects when someone actually picks up. The only issue is that Augutech has a 5 seat minimum and Convoso has 20. Is there a similar product out there that small shops can use?
    0 replies | 37 view(s)
  • eflynnVegas's Avatar
    Yesterday, 04:56 PM
    Looking for motivated self starting agents to join our group. If you fall in this category and are a strong CLOSER we would like to speak with you. This is not a remote position. Please send resume and correspondence to: ed@advancecapllc.com
    0 replies | 33 view(s)
  • Ehenek's Avatar
    Yesterday, 04:22 PM
    Easy Peasy. Ship it! Can approach the file in a multitude of ways.
    6 replies | 156 view(s) | |
  • Franklin's Avatar
    Yesterday, 04:01 PM
    True, it usually boils down to one of those... but that answer provides no accountability for your salespeople to improve, or to be on the winning end of that equation. www.UccRadar.com – Large sales volume merchants filling out your application.
    11 replies | 395 view(s) | |
  • diditevenfund's Avatar
    Yesterday, 03:41 PM
    diditevenfund replied to a thread Looking for weekly. in Deal Bin
    Weekly is not hard to come by, what is the detractor on this causing a daily? ADBs shot?
    3 replies | 530 view(s) | |
  • Money2334's Avatar
    Yesterday, 02:46 PM
    Money2334 replied to a thread Looking for weekly. in Deal Bin
    Hi. Whiterabbit, I can help out with this one. How long have he been in business? How much is he looking for? What is his gross each month. I can get him a weekly payment option and also maybe look at an SBA, term loan or business line of credit with a monthly payment. Let's talk.
    3 replies | 530 view(s) | |
  • C2 Advance LLC's Avatar
    Yesterday, 02:41 PM
    C2 Advance LLC Qualifications: • Minimum 1 year of experience working for a financial services firm, preferably in the MCA or cash advance space. • Underwriting experience in alternative financing (MCA). Responsibilities: • Perform due diligence on eligible deals (e.g., valuation, credit review, financial document review, merchant research, risk assessment, review site inspections, etc.) Analyze the data from prospective merchant applications. • Conduct phone interviews with merchants. • Present pricing, stipulations, and terms within risk parameters for eligible deals; communicate funding offers to merchants. • Interact with internal Sales Team and Senior Underwriter. • Read and analyze credit reports, merchant processing statements, bank statements, and financial statements to determine the merchant’s ability to support the exposure associated with their business type and requested parameters. • Gather due diligence data from various locations, including but not limited to third party vendor websites and the internet. To apply please contact uw@c2advance.com
    0 replies | 74 view(s)
  • Money2334's Avatar
    Yesterday, 02:33 PM
    Money2334 replied to a thread Defaulted in Deal Bin
    Hi. Stefmarr, I can help out on this one. Quick question do he have any other loans at this time? How fast does he need to move on a working capital option. I have funded default deals in the past, even if it was not paid off I can still help. Lets talk my number is 754-246-0372 or if the deal is ready to go you can email me at info@myalphaloans.com
    3 replies | 677 view(s) | |
  • Shorebird's Avatar
    Yesterday, 02:33 PM
    I think ridextreme is the correct door on this.
    11 replies | 395 view(s) | |
  • diditevenfund's Avatar
    Yesterday, 02:26 PM
    Nice karma to the brokers who dont keep their funders posted and do this.
    11 replies | 395 view(s) | |
  • ridextreme's Avatar
    Yesterday, 02:16 PM
    Most of the time it's very simple they're either still shopping around for a better offer or they already accepted one and could care less about telling the other brokers about it.
    11 replies | 395 view(s) | |
  • Franklin's Avatar
    Yesterday, 02:03 PM
    This is also true if they're unable to perform due diligence that makes them feel comfortable. If 3 companies are competing, and one is on TV and all over the internet, that's the one most likely to win, if everything else is equal. www.UccRadar.com – Large sales volume merchants filling out your application.
    11 replies | 395 view(s) | |
  • Franklin's Avatar
    Yesterday, 02:03 PM
    Positioning yourself as a consultant or an advisor does help as it gives the impression you're on the same team, and that you know more than they do, which builds your credibility. Merchants also appreciate that you made the attempt for the best option for them, even if it was unlikely to begin with, and unsuccessful. www.UccRadar.com – Large sales volume merchants filling out your application.
    11 replies | 395 view(s) | |
  • TheUnderwriter's Avatar
    Yesterday, 01:44 PM
    He Identifies as someone who knows more than other brokers. That should be good enough for you Stephanie. He also identifies as a better broker than the rest.
    11 replies | 395 view(s) | |
  • diditevenfund's Avatar
    Yesterday, 01:43 PM
    No positive online presence is a big one. I know guys hide their names often because they are generating leads illegally, but not having positive reviews and such will absolutely make a merchant go dark on you.
    11 replies | 395 view(s) | |
  • Olderguy's Avatar
    Yesterday, 01:32 PM
    You haven't gone deeper enough with discovery to demonstrate you have more product knowledge and more options than a typical MCA broker. You haven't differentiated yourself from all the other MCA brokers. Act like you are a loan officer and not just another MCA guy. Qualify for term loan SBA loan options Personal loan Asset based lending A/R, A/P, factoring Real Estate - O/O and NOO Equipment financing or cash out co borrower availabl Cross collateralization - property Intellectual property to collateralize/monitize Review P & L and tax returns to see if they cash flow for better loan
    11 replies | 395 view(s) | |
  • Franklin's Avatar
    Yesterday, 01:21 PM
    You're the man Steven www.UccRadar.com – Large sales volume merchants filling out your application.
    11 replies | 395 view(s) | |
  • Steven_O's Avatar
    Yesterday, 01:13 PM
    Loved every single one of these. You speak from the heart on this one!
    11 replies | 395 view(s) | |
  • Franklin's Avatar
    Yesterday, 01:09 PM
    The competition level of a file (or your leads), and your level of effectiveness at competing is very important. You have a very short period of time to convey Words, Actions and Processes to convince your merchant to buy your credibility right there on the spot, or to make him think about it and come back later. If you haven't sold him or her, this is the point when the ghosting starts to take shape. REASONS -You never created a sense of urgency with the merchant to take action now. -You don’t follow up when you say you would, (or at all) so merchant doesn’t take you seriously when you actually do reach out. There’s someone else who was more serious. -You never established the burning reason or motivation why the merchant should take the money quickly, ie. NOW? (It's either to remove pain that will get worse if you procrastinate, or take advantage of a good opportunity that you might lose) -The merchant doesn’t believe you are a credible solution to his problem or desire. Either you don’t have the right lenders or right alternatives, or you give the appearance of a one-trick shop. -The merchant took money already. -You don’t have a one call close mindset…If merchants typically close with you in 1-2 weeks after you connect with them, there's likely things you could be saying or doing to have them close on the first call, or at least in the next 24-72 hours. -The merchant went through the whole process before and had the deal killed at the gate or in final underwriting, and as they start the process with you, it feels like they’re just going through the same motions as before. -The merchant just didn’t feel like speaking to you anymore and they weren’t compelled to provide a reason. -Spoke to 5 guys today like you and you all sound the same. He went with the one guy who made him laugh, or who knew his industry, or got him to take immediate action -Wasn’t comfortable giving subsequent financial info to someone he met over the phone (40% of financial deals done in person or off referral, 80% of people will never do business off a cold call). -Wasn’t comfortable with you – gender, color, part of the country you’re from, talk too slow/too fast -Cold feet when he thought about the reality of paying back all that money -You were too high pressure on the phone. You want to be calm and relaxed, will moving with expedience. -You don’t follow instructions. He said call him Wednesday at 1 PM. You called at 10 am, then again on Thursday. -Wife told him it wasn’t safe sending financial info to a stranger -Found another solution and didn’t bother to let you know (you weren’t important enough). -The merchant has issues that were a problem for them in the past and feel that they would block them getting money now. You never discuss it and they lose faith, and don’t tell you. -Merchant had a minor need or desire, but not a serious one, so they were never fully committed. -Merchant spoke to another sales guy over the phone, and the experience was so negative, they were turned off by future calls. The majority of these issues can be solved with just asking the right questions, being on top of your merchant, and matching the merchants’ proclivities and behaviors. www.UccRadar.com – Large sales volume merchants filling out your application.
    11 replies | 395 view(s)
  • TheUnderwriter's Avatar
    Yesterday, 09:16 AM
    Use the 1/3 rule - 100 applications ---> 33 approvals -----> 11 requested/signed contracts -----> 3-4 fund And if you are specifically sending your subs to the correct funders given you review/scrub the file a bit when you get the submission in, you will eliminate a lot of emails and headaches which will hopefully fund a few more deals since 'shot gunning' the file from A-D funders will just make you look dumb and cause the funders to think your shop has no clue what you are doing. Ex: Merchant funded 3 times in May but you send to IOU, Kapitus and National? Like why???
    3 replies | 293 view(s) | |
  • kpeng's Avatar
    Yesterday, 08:36 AM
    This is like asking how many fish you'll catch. There are so many variables. Quality of your bait, timing, conditions, how much patience you have, and who you choose to go fishing with.
    3 replies | 293 view(s) | |
  • Olderguy's Avatar
    Yesterday, 08:16 AM
    address: 311 Boulevard of the Americas Lakewood, NJ 08701 Phone: 848-299-2184 Email: mark@epic-advance.com & steve@epic-advance.com Sub@epic-advance.com
    9 replies | 742 view(s) | |
  • dailyfunderppt's Avatar
    06-11-2024, 11:44 PM
    Point of contact at Epic please
    9 replies | 742 view(s) | |
  • Olderguy's Avatar
    06-11-2024, 08:09 PM
    Do they qualify for a SBA 504 at 10% down payment? Is the seller willing to do a seller carryback to get 90% CLTV for traditional or hard money? Dude too man questions for a quick answer. Is it a practice purchase that includes the building that could qualify for a business acquisition loan at 90%?
    6 replies | 156 view(s) | |
  • diditevenfund's Avatar
    06-11-2024, 08:01 PM
    Will get wildly varying answers, numbers will be very different from a broker who say does SMS spam/baiting vs someone who runs real time advertising. Attracts different quality
    3 replies | 293 view(s) | |
  • FUNDRIGHTJAX's Avatar
    06-11-2024, 07:54 PM
    I have been back in this space for a little over a year worked in it (2010-2018) with some equipment financing as well. Worked for brokers and direct funders. I wanted to see how many applications it takes to get an approval on average in this current market. Assume I get "decent" leads.
    3 replies | 293 view(s)
  • Yankeeman07's Avatar
    06-11-2024, 07:32 PM
    How much out of pocket cash does the doctor have to place into the deal. Have proof of funds. The facility is located? You lost me on the zeros - this is a 2 Million Dollar Transaction?
    6 replies | 156 view(s) | |
  • Olderguy's Avatar
    06-11-2024, 06:27 PM
    Hahahaha...if you want help you have my number....;)
    6 replies | 156 view(s) | |
  • G2efunding.com's Avatar
    06-11-2024, 06:18 PM
    I quit smoking long ago I gave my last bag to the guy on the street - he looked a little like you though lol
    6 replies | 156 view(s) | |
  • Olderguy's Avatar
    06-11-2024, 05:56 PM
    Gilbert....you need to call Uncle Steve again....quit smoking that stuff...
    6 replies | 156 view(s) | |
More Activity


INDUSTRY ANNOUNCEMENTS

Pipe secures $100M credit facility
Cloudsquare: 14 new lender APIs
FundKite survey finds 77%


DIRECTORY