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It's a lot more complicated than that....I do a lot of co-brokering for these types of loans and split commissions. You have to look at cash flow, DTI, projections, return on investment (impact on EBIDTA), collateral, etc. To get these types of loans funded does require a skill set outside of the MCA arena. You just can't say "I'm going to get a SBA to take out all this MCA debt." Reach out and I can give you some guidance.

I was looking for some intro's so I could get commissions

Do a search on the SBA web site for lenders.

Thanks for that... I need SBA 7 (a), SBA 504 and SBA Express lenders!

It doesn't work that way....I have 6+ SBA lenders and each has a niche....and program... Some 7A Some 504 SmartBiz can do up to $500K but doesn't pay a referral fee - just 2%

PM'd me Jack Musk jack@moskycapital.com 347-972-0400

Any time a merchant misses any payments within the stated clawback period, then, in turn, triggers said clawback. If it was before the commission was even paid out that is a huge red flag for lenders. You should be happy they said they would pay at the end and not just not pay it at all... Always make sure you read your ISO contract. And don't complain when you have a merchant who doesn't make his payments... especially the first few.

PM'd you Diana diana@ontapcap.com (929)566-7317

Even Coconut Funding is in the courts:v They are one of the largest scammers in the market!

Signed up with them earlier this year, solid funder for b to C paper.

It looks like you made the correct decision here. Clawbacks are never guaranteed, especially from a one and done ISO.

After reading this.... well when I got to the fifth bullet point, the revelation was a cold hard slap... it makes perfect sense now. Obviously, it's very clear that, I mean, I now know why there was…. Ok I'm just going to say what everyone person on this forum was thinking, and what crossed all our minds collectively and simultaneously… The reason for this occurrence is because ... what...., oh..... My producers just informed me to cut the cameras and go to a commercial break. A word from our Sponsors: So if you're looking to place your hard earned dollars on a great lead provider, there’s a bunch of places you can go. For everyone else, there's www.dumbleads.com A word from our Legal Department: DumbLeads is an equal opportunity employer. Every employee in this office has taken one to the face at one time or another. Office violence knows no gender.

ONTAP Capital is very reputable. I have been doing countless of deals on a monthly basis and they pay on time. I have a really good relationship with one of the partners. They deliver commission on time and also they are competitive with their offers. There seems like there was a misunderstanding between you and the rep. I am sure you will be able to figure it out with the team as they are understanding and NEVER run away from sending out commission. I look forward to growing big with them.

the plot thickens... :grabs popcorn:;

- She informed us that she needed this money for personal reasons and made it clear to us that it would be very difficult for us to clawback on her if necessary. <----- wow, if you have literally zero buffer for clawbacks its time to just dust off a resume and get a job. Unreal. You can tell if someone is remotely successful just based on them exploding over what I guarantee is a small dollar amount

Hi guys, Diana from OnTap Capital chiming in here. Here are the facts: - NEWCDAM has signed up with us recently, and this deal was the first and ONLY deal they've submitted to us. - The merchant started bouncing within the first 7 days of funding, which we caught on time and informed the broker about that, not the other way around. The day the bounces were caught was 1-2 days away from the day we were supposed to send the commission out. - My initial communication with the broker was "We need to wait a few more days to make sure the payments actually go through, then we release the payment. We need to wait until Friday" - On Thursday the broker starts verbally harassing us on the phone - My boss Jay got on the phone with her and tried to resolve the situation, by offering payment after 30 days with no more bounces. - NEWCDAM began harassing the rest of our staff, blowing off our phones, emails, threatening us with legal action. - She informed us that she needed this money for personal reasons and made it clear to us that it would be very difficult for us to clawback on her if necessary. Let's spin this around and turn this negative into a positive! - We are a direct funder, we are NOT white labelling - We fund in Canada and US, we opened in Canada originally in 2017 and expanded to the US just over a year ago. - We go up to 12 months, 500k per paper, A-C paper - We do 1st-5th positions Contact me to get signed up (or discuss this thread lol) diana@ontapcap.com (929)566-7317

LendSaas is the best. Not only because of the offers and underwriting, but mainly because of the deal tracking. I am able to initiate and track every single one of my ACH pulls thru LendSaas. Its directly integrated with my bank and ACH processor. It automatically tracks performance with all of the syndicator wallets for every single metric, as well as having a Syndicator/ISO portal. Absolutely blows Orgmeter away.

We respect your opinion. As it is only an opinion. If you haven't seen our system, then we wouldn't compare.

Being in the court system just means they have funded a deal before and not if they are a good legit funder.

There is not much you can do. If they do not send you the commission soon you can try to sue them for breach of contract but the money you can spend doing that can be more than the commission owed to them. Just use this as a lesson learned going forward. If a new so called funder reaches out to you look them up on google look at the website ask other brokers you know in the industry if they heard of that company before you sign up and send them a file. I been in the financial industry 27 years in this industry for 12 and with my current company 10 and i make sure i do the right thing and keep my reputation clean. So if you need a new funder that has a different approach to how we underwrite and always pay on time feel free to reach out to e. Scott Platto scott@tmrnow.com tmrnow.com 212-220-9872

Sounds like a racket.

Idk, but that sounds not so good :(

they're a super broker/funder

they are in the courts i think that means they are legit https://iapps.courts.state.ny.us/nyscef/CaseSearch?TAB=name

Any positions after the default?

Has anyone actually seen them in banks?

Yea they have one that promotes.

Do they have reps on here that you know of?