Activity Stream

Who wants to do broker deals with a scammy lender? How does a canadian lender get to go against their own contract just because they are in canada? The broker agreement says lender must pay commission within 7 business days with a 30day clawback. Told us (the broker) we won't get paid on a deal until it's paid off. It has been 19 days now but they are telling us because a few payments bounced (but were paid) they are withholding for 3 months until the loan is majority paid because the account is in default, but the account never defaulted. How is that even possible?

Who funds Bluevine statements?

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.

Who is the best/easiest SBA lender to work with? Props if you can make an intro

Are these guys legit?

We are a broker shop in NY, Lendora reached to us as a direct lender, and we've signed an Iso agreement with them and started sending deals to them, in one of the deals they gave us an offer of 20K and our upsell is 11 points and 30 mins later they sent a revised offer of 80K and they said its from their syndicate. When we funded the deal they sent us the commission confirmation email of 6 points upsell and they said because its through the syndicate so the upsell splits and we told them you had n't mentioned anything about the syndicate splits till the deal is funded, then we've been waiting them to send the commission since May 29th and today is June 10th and we haven't received our commission and since june 3rd they stopped responding to our emails, and we don't know what should we do o get our commission from them ? pls advise ?

Defaulted a year and half ago. Strong balances now. 150 to 200k in revenue anyone?

Looking for lender that can provide $400,000 as a down payment on a $2000,000.00 commercial medial facility the practice is purchasing in the month- who can provide this funding and what type of documentation is needed to assess - they have another two facilities they will be purchasing over the year after this first - 2nd is $5000 000.00 facility and the third facility is $1,500,000.00 - will confirm the deposit requirements on the next two facilities - just wanted to put the feelers out there whom among you can provide this type of support capital. info@g2efunding.com

Small business but well qualified - good pc, nice margins, zero debt - looking for working cap and a line would be the absolute ideal. This could include PSF agreement needed community banks with hunting enthusiasts on the board. Well aware its an industry on the sh*tlist.

Neubert, Pepe & Monteith, P.C. is a law firm in Connecticut that represents MCA funders in collection actions. The Prejudgment Remedy (PJR) law in Connecticut is scheduled to change on July 1, 2024, per Public Act 23-201 (Act). We have published an article that outlines the changes to the PJR law for MCA collection actions, as we presently understand them. A link to the article is here: https://npmlaw.com/article/public-act-23-201-change-to-prejudgment-remedy-pjr-in-merchant-cash-advance-mca-collection-actions-in-connecticut/ In summary, the Act as drafted (i) does not change the PJR waiver attachment procedure in cases where the MCA financing amount is more than $250,000, and (ii) limits the use of a PJR waiver to after commencing litigation, and not upon, in cases where the MCA agreement is entered into on or after July 1, 2024, and the amount of financing is $250,000 or less. Note: The article contains our understanding and opinions as of the date of the article. It is not known how the courts will interpret the Act, including if in accordance with our article. No attorney client relationship exists by reading our article. Lucas Rocklin, Joseph Dunaj, John Szalan Neubert, Pepe & Monteith, P.C.

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.

Everest is the best case I can think of, Who else is unironically on the level with Funding Metrics' Lendini at the moment?

Who are these guys? There isn't an address on their website. Is it Mantis, rebranded?

Hello, Does anyone have any recommendations for a similar CRM/ Lead Flow Distribution application to Boberdoo.com? (preferably able to integrate with Zapier.) If so please email or call me using the below info. Best Regards, Nick De Jesus Meridian Leads 561-418-2043 nick@meridianleads.com

Seeking brokers with 1+ years experience in the industry to join our NYC team located in Fidi NYC. We can offer fair splits, lead generation/sourcing , working hours are 9:30am - 6pm and and inhouse syndication platform to use at your disposal. You would also have access to a large group of brokers with over 10M+ in funding and a wealth of knowledge to learn and grow as a broker yourself. Feel free to DM if you have any additional questions, I would be more than happy to answer them for you!

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

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