Activity Stream
All times are GMT -4. The time now is 10:29 AM.
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Older Activity
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Today, 10:06 AMWe’re moving into funding traditional MCA’s (daily payment as % of sales rather than fixed daily/weekly payments) and would love to hear from the best credit card processing companies, software providers and lockbox solutions. Although we’ve been in this space for a long time as brokers, we’re really ignorant when it comes to the actual mechanics of split funding. Along with your sales presentation, an education would be greatly appreciated :) Credit Card Processors We’re looking for “funder-friendly” processing companies. Great customer service, elegant UI for us and for merchants, detailed reporting, competitive rates, easy onboarding etc Software Companies Happy to hear from any software companies that can assist in any capacity. Specifically looking for a solution that allows us to take a daily % from bank deposits. Not interested in monthly reconciliation, really looking to keep it a true daily split. Lockbox Services I’m assuming this is the only way to offer split funding to merchants who are not interested in switching processing companies? Again, forgive the ignorance here We’re really looking to hear from the providers themselves but recommendations are always welcome. Thanks in advance! P.S. We have our own money (not interested in funding companies, credit lines or syndication), our own deal flow (not interested in leads of any kind) and we don’t take submissions from other brokers/referral sources. These types of solicitations will be ignored – not trying to be rude, just don’t want to waste anyone’s time.0 replies | 12 view(s)
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Today, 10:00 AMGood morning We're open here at Essential Funding Group! Reach out if you need deals funded All banking days excluding bank holidays. Thank you !
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Today, 09:49 AMThis guy has been at this forever! Seen his docs countless times over the years, every once in a while gets a newer rep to spin his wheels and believe the nonsense LOL
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Today, 09:26 AMThe only way to really learn is to work at a funder and learn the ropes. There aren't really any reliable resources out there that can teach you how to underwrite high risk deals without someone to mentor/teach you the ins and outs.
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Today, 09:15 AMI got 10 million dollars somewhere over here but if I get 15-25k I am golden! Love the logic there Its even better than when I see a bank account with 200-400k in ADBs but merchant doing 10-20k a month but desperately needs 15-25k for upcoming projects. Those banks are real I bet.
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Today, 09:12 AMHe must be illiterate as well
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Today, 09:02 AMBeware of this scammer merchant. Inquired on our website. Huge history of fraud, and apparently hes got a few funders in the past, (LCF, Velocity, Coolidge). Giving us the same story as hes been giving people for years. Dont fall for it. https://drivewithcompassion.com/philip-capolongo-arrested-and-charged-with-4-felonies/3 replies | 74 view(s)
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Yesterday, 11:56 PMSalesforce if budget isnt a concern and you want all the bells and whistles of possible integrations as you expand. Hubspot also good on the higher price end. Smaller scale Zoho is decent and will get the job done at an affordable price with lots of customizability. Centrex is decent, their api isn't quite as good as the other larger platforms IMO, but they seem more focused on needs in your industry in general.
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Yesterday, 11:09 PMDo you work for Joey or are you a different ark funding? Just wondering. And yes, smarter people put that in their agreements so court is in their state should things go wrong. Perhaps their states laws favor them too.
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Yesterday, 11:07 PMHe probably pays out 13% commissions too That extra 1% is what makes brokers not do research and just sign up lmao
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Yesterday, 09:23 PMWho's "me"?
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Yesterday, 09:09 PMHey guys, Many lenders will be closed tmr and Friday because of the holiday. If you have A-C Paper Deals that need to be funded please shoot me a text at (917)-933-2825 Let's chat!3 replies | 118 view(s)
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Yesterday, 08:57 PMread my comment below, and also for some strange reason in there iso agreement it states that if anyone wants to take any litigation against them it must be in florida, is this a real thing? Can anyone chime in on this? id like to not have to go all the way down there to sue these assholes. I will though if needed lol
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Yesterday, 08:22 PMSend me a package...I'm sure Elon and I could try and get it in front of some potential funders.
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Yesterday, 06:50 PMI'm reaching out to gauge interest in a unique opportunity in the mining sector. This project is not only based in the US, but is also revenue-ready, allowing for faster transition to full production with the right capital infusion. The company is seeking to raise up to $15 million to develop its mining production facilities. They have already secured a preliminary offtake agreement for 50,000 tons per year and are poised to tap into a growing market, with potential first-year sales exceeding $45 million. The company’s existing financing framework consists of a USDA loan of approximately $4.42 million and a state manufacturing bond facility totaling $10.5 million. These funds have been strictly allocated for the acquisition of land, buildings, and essential capital equipment. As a result, they cannot be utilized for mine construction or mineral production, which is why this new capital raise is critical. If you're interested or have any ideas on how to support, please reach out.1 replies | 39 view(s)
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Yesterday, 05:31 PMMerchant Processing for Cannabis - what type of machines?
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Yesterday, 05:27 PMThats an idea. all the account info - account/routing all real but the info we are all looking at was wrong and he created a fake website to hide it. That makes sense. Still goes down as the best fraud I have ever seen in the sense of really trying to create something fake to get funded
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Yesterday, 05:18 PMMaybe he has a real Citibank account as well, and that's the account and routing number he placed on the fraudulent account? www.UccRadar.com - Bulk aged data pricing, and free real time leads with order!
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Yesterday, 05:15 PM3% broker points. I split with the broker. You'll make $1,100.
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Yesterday, 04:57 PMSounds good. I will keep this option in mind.
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Yesterday, 04:42 PMSo if you don't heard from any lenders, let me know. 10 year I/O around 10.99% NoDoc. Not if it's rural. That may be the case with a $100K value. Rural would be a bridge.
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Yesterday, 04:38 PMLooking for Small-Balance NOO refinance with less than 12 moths seasoning (Acquired in December). Property owned Free & Clear. Loan amount of $75K, and the borrower has 700+ credit scores. *Lenders only please reply*3 replies | 44 view(s)
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Yesterday, 04:24 PMI actually bank with Citibank so we could tell it was incorrect. And certain items weren't lining up or making sense when comparing the statements. But the fact the merchant created a 'Citibank' Icon on his Home page, can click it, site loads and a username/password and then data populates to replicate a transaction history was truly insane. The only thing that doesnt make sense is where would the money go if sent? Since you normally follow the info on the VC so if the account numbers are fake or altered, where would the fraudster think the money is going? And if you are sending a wire, you put the business name/address etc etc on the wire and the receiving banks that accepts the wire would have to have all that information be correct for it to post. If not, it bounces. So I dont understand how the fraudster would even receive the money.
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Yesterday, 04:08 PMLooking for clients that are in need of merchant processing machines for Cannabis companies. James StCyr Triumph Solutions LLC James@triumphsolutionsllc.com 97849063931 replies | 36 view(s)
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Yesterday, 03:56 PMMost of the deals I get are MCA bailouts for SFR NOO. You are correct in a very limited market relative to the current deal flow.
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Yesterday, 03:41 PMFollowing this. I've been looking for resources as well but this industry is pretty concealed in regards to underwriting because every company is different. From what I understand the big things are: - Don't want to be pulling over 30% liability on daily balances - Deposits have to be consistent. $50K a month with 70 deposits is better than $100K a month 2 deposits etc. - need to show deposits of true revenue not transfers, and if they are coming from transfers you're going to need the transfer accounts as well - No gambling or addiction expenses - Like to see a history of pulling out an MCA at some point ad paying it back A software I've been seeing used is something called Dragon-io or something like that to help with calculations but again I think that has to be built out specific to the lender.
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Yesterday, 03:32 PMI'm curious how you caught that it was fake or what tipped you off. It sounds like the merchant (or his proxy) did a good job but not a "great" job, or else he wouldn't have gotten caught. www.UccRadar.com - Bulk aged data pricing, and free real time leads with order!
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Yesterday, 03:21 PMNo DSCR requirement on loans under 50% LTV as well.
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Yesterday, 03:16 PMMines can be located anywhere.
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Yesterday, 02:43 PMDid you find any information ? I'm in the same situation as you right now.
