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  • Fundkite Egor's Avatar
    Today, 01:54 PM
    Speaking from personal experience as an ISO rep at Fundkite, majority of our merchants are happy to work with our reconciliation and believe its beneficial to their business cash flow. As opposed to a fixed payment in which the merchant may worry about making payments when business is down. Reconciliation allows merchants payments to be flexible according to their sales, so yes, a 6 month term could end up being 4 months or 8 and we're fully prepared for either scenario.
    19 replies | 2577 view(s) |
  • Kevin Henry's Avatar
    Today, 01:52 PM
    My two cents: Every advisor and every institution has their own style and requirements. The certainty of closing a transaction is highly reliant on the amount of information reviewed and work done up front. If the appropriate work is done up front by the advisor they SHOULD know what can be done and who will do the deal. If you send a deal to someone who does little work up front, the chances of the deal closing goes down or time is wasted because something came up in review. Follow the simple rule of closing clients: Know your customer, Know your advisor, and Know your sources of capital. I personally have a low tolerance of "advisors" calling with "deals" that have done zero work only to waste our time and resources. "I got a guy that needs money" just doesn't cut it in this environment.
    43 replies | 2778 view(s) |
  • Yankeeman07's Avatar
    Today, 01:26 PM
    They you do not have a legit offer - the file is NOT been sent to underwriting ! ​
    43 replies | 2778 view(s) |
  • mistamca's Avatar
    Today, 12:43 PM
    Pretty much every single funder has done it to me. It isn't backdooring necessarily. 3 months go by and then they send it to their broker shop or put it in a drip campaign. For example, a very large funder shoots over all their applications to their sister company for a mortgage. I also firmly believe that most backdoor cases are not coming from management. Typically, it is a rogue employee. I wish it didn't have to be this way but it is.
    43 replies | 2778 view(s) |
  • J.Celifarco's Avatar
    Today, 12:13 PM
    people really do this where they submit files without contact information of the merchant? I thought people did it maybe when starting with a new lender but all the time? That is crazy to me
    43 replies | 2778 view(s) |
  • BB_Cooper's Avatar
    Today, 11:58 AM
    Good point Micah. Do MCA investors or many of the merchants want fluctuating daily draws?
    19 replies | 2577 view(s) |
  • mistamca's Avatar
    Today, 11:58 AM
    No they don't. You do not need contact info to underwrite a deal to give an offer... I do not know about you but email & phone is given when requesting a contract.
    43 replies | 2778 view(s) |
  • mcaindustryveteran's Avatar
    Today, 11:26 AM
    Very eloquently written. But facts are facts.
    43 replies | 2778 view(s) |
  • dskg1982's Avatar
    Today, 10:44 AM
    Hey all, Looking for a funder to do a reverse while potentially netting capital or an add on.
    0 replies | 38 view(s)
  • Cashyew's Avatar
    Today, 10:39 AM
    It's Friday. 30% discount on all posted leads on Cashyewleads.com discount code: discount30
    0 replies | 29 view(s)
  • J.Celifarco's Avatar
    Today, 10:25 AM
    if you are working with funders where you are worried about giving them a clients contact info than you are working with the wrong funders.
    43 replies | 2778 view(s) |
  • fundingsmbs's Avatar
    Today, 10:20 AM
    fundingsmbs replied to a thread Pearl in Merchant Cash Advance
    that's not that great for a first position unless it was a subpar deal or high risk industry. the no fees as in zero origination or processing fees, is nice for customers, unless your paying for it out of commissions
    3 replies | 404 view(s) |
  • ryanh's Avatar
    Today, 10:18 AM
    ryanh replied to a thread Pearl in Merchant Cash Advance
    Na lol different deal. Or is it? :cool:
    3 replies | 404 view(s) |
  • Yankeeman07's Avatar
    Today, 09:41 AM
    Let's clarify - a Underwriter does NOT NEED accurate contact information (Business Phone Number, Cell Number, Home Phone Number, Email)?
    43 replies | 2778 view(s) |
  • abfunders's Avatar
    Today, 08:53 AM
    Dave, do you realize you keep digging yourself deeper? A phone number is unnecessary for contracts. You obviously don't fund very much, since a lot of funders prepare contracts, and don't execute them until they do the final underwriting is verified and you speak with the merchant. I guess you're different, because you're a broker, an underwriter, and a direct lender, so you have rights to question everyone else's business practices. And to top it off, you said (and I quote) "EDUCATE ME" and you don't want to be educated.
    43 replies | 2778 view(s) |
  • fundingdaily's Avatar
    Today, 08:29 AM
    drew@infusioncapital.org Fund these all day
    1 replies | 191 view(s) |
  • J1010's Avatar
    Yesterday, 08:45 PM
    Looking for 1 or 2 solid funders for small to medium sized used car lots. And GO.....
    1 replies | 191 view(s)
  • Yankeeman07's Avatar
    Yesterday, 07:41 PM
    Why do you think it is so hard to speak to a merchant, have a conversation, learn about their business, answer their questions. Will this be a good merchant to fund ? Take a guess at how many times I've been sent an application and after speaking with a merchant, correcting information that was not accurate?
    43 replies | 2778 view(s) |
  • Yankeeman07's Avatar
    Yesterday, 07:22 PM
    How do you prepare a contract without verifying the info is accurate. I would not even consider submitting a file without verifying info as much as possible.
    43 replies | 2778 view(s) |
  • LENDORA's Avatar
    Yesterday, 05:45 PM
    First off, I want to apologize, not to you, but the rest of the community for the late reply. Our account was not activated, and we could not reply to your message until today. We had a long conversation on the phone, and it seems you like to pick and choose bits of information in order to make them work to support your claims... If the MCA space doesn't work out for you, you can do well in the news media field. I explained to you very clearly that this was not a file submitted to us but rather a lead that was purchased. The agent that received this lead is trying to convince you to move forward with Lendora in that conversation you posted. Not one broker over here can tell me they would not do the same in order to convince a merchant to move forward with them rather than the other guy. This is the nature of the business. Everybody buys leads, those tend to be recycled, resold numerous times to different agents/ISOs and many agents in the field tend to cross each other while submitting or calling merchants. You asked me to release my lead broker information to you and if I didn't do so, you would "bash us" and try to affect our business by posting negative threads on daily funder... I said it to you once and I will say it again, I do not respond to threats. If there was any chance possible to back track the source of your lead, I might consider disclosing my lead broker, but you know very well that this is an impossible task. You are bitter because you evidently have a leak with the funders you work with. Let me make it very clear to this community, the man posting this thread is NOT an ISO with Lendora. I don't even know his real name; he would not identify himself nor disclose his company name. You claim to be a funder and broker... however syndicating a few thousand dollars here and there or getting a white label does not make you a funder. Why might you ask? Because a funder would not waste their time trying to find such a leak. That's what I explained to you. This is the space we navigate, unfortunately, and there are good and bad and that's that. You can try bashing us all you want and try and pin us as the bad guy, but the reality of the matter is that we are not the culprit. We purchased leads like everybody else in the industry does and it happened that your clients were in there. Think about it, why would an agent call your client two weeks after you submitted them to your funders (time frames you provided me)? If I was backdooring you, wouldn't I call your merchant immediately so I can fund him before anyone else does? How can I backdoor your company if you are not an ISO with us? I don't even know your real name or your company name... You are angry and upset and I understand where your frustration stems from however you are pointing the finger in the wrong direction. You need to reassess the way you do business. Out of the 3 funders you work with (information you provided me) one of them or maybe all of them is leaking your info. Maybe they are doing so knowingly or maybe someone at their underwriting department is making some extra $ on the side selling that info to lead brokers. One way or another you and Lendora do not have a relationship, those files were never sent to us, and we never tried to backdoor you. The ISO's we have relationships with know very well that we would never try to pull something off like that. We cherish our ISO's business too much to jeopardize it and our reputation, for a few dollars. Not to say that there aren't funders out there that do that, but Lendora's practices and vision of business are definitely not in line with those kinds of malpractices. FYI you said it yourself on our call... "it is true that Sheri did not have the application and supporting documents since she was requesting them...". A lead was purchased, and a lead was called. Our agent did her best to get the business. From your words " Lendora was collateral damage". I told you all of that over the phone and frankly not interested in wasting any more time on this. I do want the rest of this community to know what was said and what the situation really is, not just your twisted, angry version of it. I am wishing you again all the best in your future business and hope you get to find your "leak" but if I can give you a little piece of advice, don't waste too much time on it you are not the first that have tried and won't be the last jumping into that rabbit hole. Concentrate your efforts on your future business and finding funders that cherish your business and that you can trust without a doubt that they would never backdoor you.
    43 replies | 2778 view(s) |
  • mkhat's Avatar
    Yesterday, 04:08 PM
    I'm a bit late here but GCM loves Cannabis industry! Especially A-B paper. We go up to 12 months and give LOC and MCA approvals for this industry often. Send your Cannabis/CBD deals my way! Maria@gcmcapitalgroup.com 347-921-4875
    14 replies | 2486 view(s) |
  • Danielnathfunding's Avatar
    Yesterday, 03:26 PM
    We accept California- send it over
    8 replies | 533 view(s) |
  • danielamradvance's Avatar
    Yesterday, 02:52 PM
    lol thank you for taking the time of reading all my obnoxious post. so sweet
    14 replies | 2486 view(s) |
  • danielamradvance's Avatar
    Yesterday, 02:45 PM
    reach me out at daniela@mradvancellc.com we can get this fund today
    7 replies | 548 view(s) |
  • fundingdaily's Avatar
    Yesterday, 01:13 PM
    drew@infusioncapital.org Will have this funded within the hour
    7 replies | 548 view(s) |
  • lets talk about it's Avatar
    Yesterday, 12:34 PM
    dm this is easy
    7 replies | 548 view(s) |
  • mca2150's Avatar
    Yesterday, 12:06 PM
    Most higher risk funders would do this file. Not sure why you would need to post it here from the information provided.
    7 replies | 548 view(s) |
  • Finance Guru's Avatar
    Yesterday, 11:40 AM
    We may be able to help you with this deal.
    7 replies | 548 view(s) |
  • Michael I's Avatar
    Yesterday, 11:40 AM
    loan, please share the case number so we can follow how this goes and learn better how the legal system works in regard to our industry
    17 replies | 507 view(s) |
  • ryan $'s Avatar
    Yesterday, 11:36 AM
    ryan $ replied to a thread Pearl in Merchant Cash Advance
    LOL - I recently just did a 10 month 1.31 w/ Pearl after not doing a deal with them in forever Charles Owner Name? FYI - I think i got paid 2 points
    3 replies | 404 view(s) |
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