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Anyone has info please?

I am serious. We are dealing with the bank as we speak. Owner is Shannon Steel. We want to know if there is any derogatory info. Not much info about the bank. She started the bank not long ago. No knowledge who they have funded. Just want to know the story about the $350K. Anything will help.

idea financial.

Thats your first red and should be the only red flag you need. A bank that you cannot find information on? That's not a real bank. You should definitely NOT send them any deals or recommend that your client sends them any capital. Best B2 Systems - Never spend time on documents or match funders again

Not much on bank, several articles on owner. I am concerned as well.

Can you please help me. Thank you.

The story about the $350K is the only negative information I have found but its concerning.

Only reason I joined this forum was because I was doing due diligence about the bank to see if I find anything positive or negative and I came across this blog.

I am serious. We are dealing with the bank as we speak. Owner is Shannon Steel. We want to know if there is any derogatory info. Not much info about the bank. She started the bank not long ago. No knowledge who they have funded. Just want to know the story about the $350K. Anything will help.

Someone might be able to help so I gotta ask..... that is why I love this forum and have been using it for 11 yrs. This forum has made me a lot of money because I was able to ask the right questions and many NICE folks have been able to help. This particular client might be a long shot but so have the others but with help from other lenders and ISO's on here, I have closed many loans over the years.

I have a lender that might be able to fund this. They primarily do between 500k and 3M. Would that be a good starting point?

I have a lender who can help with this. It's an alternative to an MCA. Send me a private message

We can fund AFTER A REVERSE AS LONG AS THE REVENUE IS THERE [email protected]

BASIC CRITERIA • CREDIT SCORE: 500 OR GREATER • TIME IN BUSINESS: MINIMUM 6 MONTHS • MONTHLY DEPOSIT MINIMUM: $30,000 PER MONTH AVERAGE RESTRICTED INDUSTRIES • NEGATIVE DAYS: MAXIMUM 5 DAYS • AUTO SALES • APPROVAL RANGE: $20,000-$250,000 (MORE UPON REQUEST) • REAL ESTATE • MINIMUM 3-5 MONTHLY DEPOSITS • CONSULTING • FINANCIAL SERVICES • CHECK CASHING • PROPERTY MANAGEMENT • TRUCKING • ROOFING • GAS STATIONS RESTRICTED STATES • CALIFORNIA • UTAH • MONTANA • PUERTO RICO HIGHLIGHTS: • TERM AS LONG AT 10 MONTHS • BUY RATES AS LOW 1.29 • MIN ADVANCE AMOUNT 15K 200 South Andrews Ave STE 504 Ft Lauderdale FL 33301 954-909-3905 SELL RATES: • 1.499 PAYS 12% • 1.459 PAYS 10% • 1.419 PAYS 8%

cant tell if you're serious or not

There are lots of articles on Shannon Steel but not the bank itself. Does anyone have info?

Can you please tell me if the $350K was for escrow ? What did they say it was for. Did the merchant ever get the money? What is the status? The reason I am asking is that currently we are dealing with this bank on a huge venture. Please let me know as soon as you can. Thank you.

Scoping out a monthly on a 500s score is a crazy waste of time.

We are a B to D funder, if it makes sense we can fund it. [email protected]

Did you get this funded? I don't need to shop it out we are a direct funder

I can take a look at it how much and term do the need also what state [email protected]

SOLID advice

I've sold two ISO's and began the negotiations of a third to sell to a large C-paper funder.The best place to sell is one of your funders. Your ISO is worth nothing to external investors due to the model, however the stable flow of volume to a funder charging the equivalent of 50-400% APR is a dream for them. Volume becomes the primary driver and negotiation metric rather than net profit as with traditional business sales. Do not allow the evaluation to be based upon your net profit -- focus all conversations on the volume and unit count, as that is to your advantage. For the funder, the volume is worth far, far more than your net profits as a brokerage. Focus on how much revenue THEY will make from the volume they will incur as a result of the acquisition. Begin by negotiating volume bonus plans and gaining access to C-level executives within the funders that would be a potential fit. Do not wait for them to present to you, be aggressive and create the conversation yourself. Ask them for a credit facility to fund alongside them. That's the natural first step -- a symbiotic relationship where you both take risk and participate in upside. Tell them your intentions early and often. Explain that you are an entrepreneur who desires to take some chips off the table and secure longevity for your family. Their natural first question is "why sell?" Create a financial pro-forma of how much additional revenue they will make by acquiring your ISO. If you have a captive lead source and a low CPA, that will create powerful leverage. In fact, that is virtually the only reason they will buy you -- to acquire captive volume as cheaply as possible. They are essentially buying a lead acquisition machine so they are not fully reliant on brokers. The quality of your portfolio will be paramount to this deal, so I hope you aren't double-funding and stacking **** ruthlessly. When I sold US Capital we had roughly 4,600 units in our portfolio. I had to show a breakdown of our funders, paper grade, average deal size, etc. They need to know this so they can anticipate the monthly units and volume they can expect in exchange for the acquisition. They will always offer a portion upfront and a 2 or 3 year "vesting period." This essentially means they will pay you 1/2 - 1/3 or so of the purchase price upfront and the remainder over time. This is to ensure you don't walk away with cash upfront and the business fails. This is OK and you need to agree with this. They will expect you to stay on during the handoff period and train their management on the inner workings of your operation. During this period do not reveal everything right away, or they may not continue vesting payments. For example, if your captive lead source is a network of 12 websites who send traffic into your CRM and your drip marketing funnel, they might cut you off to sign up for it themselves and save themselves $3-4 million of acquisition payments to you. Also, if you have any partners, ensure that prior to the acquisition process they cannot initiate any lawsuits against you. I recently had a deal go sour where they had frivolously claimed I stole data / leads and sued me in order to keep me out of a ~$10MM acquisition payout. This is after I spent 12 months building their company from $4mm of volume to $8mm of volume monthly, so it was an enormous effort that resulted in an unpaid investment to me. Do not rely on trust -- no one can be trusted when the numbers get this big. Ensure you control the flow of the cash and garner as much upfront as possible. People are not kind when it comes to $5-10MM checks being paid out -- you need to cover your ass. Good luck.

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