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In my experience, Live Transfers did not work, They Qualify merchants that are truly not qualified, that means wasting your time, also they don't know what questions to ask, again your time being wasted. as far as 15$ per live transfer, that is a little low, a red flag to me. Remember they will promise you the world until you make good on your payment. Verify this Live Transfer guy before you proceed. good luck!

According to the funder, they started bouncing payments withing their first week. Your incredible merchant, of whom you have an outstanding relationship with, defaulted.

https://www.youtube.com/watch?v=KYmkU1isYuc

How we look to another person doesn't matter actually. We're doing nothing wrong by coming to a forum and having an important conversation, that's what it's for. It's actually creating awareness and generating both of our companies new LIKE-MINDED business partnerships and opportunities. More than 10% was paid on this advance already, and 30days makes next week. We did right and our part, and this never needed to happen to us. These situations are common because brokers like to gaslight and accept things the way they are, even if it’s not right. MCA funders thrive off of not paying out commissions, feeling ISOs can’t and/or won’t do anything to counter their decisions. ISOs and Funders have agreements in place for a reason, and if ISOs did anything to breach that agreement, they would not hesitate to enforce their commitment to it. If they get to regulate on that convoluted seemingly one-sided agreement, we can as well. That’s what it’s there for.

So sue them instead of crying on dailyfunder. Or don't, at this point who cares. All you are doing is making yourself look worse.

And again, if they had an actual DEFAULT we would understand because that is in our CONTRACT. The way we are being dealt with is NOT in our contract!

We have only been working with lenders who pay same day/ next day, and constantly have situations where the lender will call us for missed payments and we help them get back on track. We maintain relationships and make sure the clients we present and that represent us pay. This is one of the few times we went outside of our relationships to get something done and wait for a check to come almost 15 days later. We confirmed up until the payday for a payment and there was no issue until the actual day/hour of payment which is the 1st, everything is due, and are budgeting for our expenses and what needs to be taken care of. Again, we maintain relationships and make sure the clients we present and that represent us pay. Hence what made sure was taken care of with the client, and the client is continuing to pay as we speak. THAT is why there should not be a problem for us to get paid WITHIN A REASONABLE TIMEFRAME. IT'S 30DAYS LATER and we're put on the backend of an 8month deal for NO REASON! WE are being penalized in a way that goes AGAINST our contract.

did you see a line of credit in the statements from vanguard? Or a line of credit letter that said they first have to take 30k with 50% fees at a 1.599 and pay it back the same day?

Have you ever put money in a deal? The first bounce payment is always ominous - you worry the merchant moved bank accounts, closed shop, etc. Think about it like this, if the merchant missed the 5th payment on a term of 160 days, that is 3% of the deal paid in. The merchant is ALREADY having issues so early on. I understand you got the merchant back on track, but that doesn't remove the risk of the merchant screwing the funder once you get paid. There are PLENTY of funders that would have defaulted the merchant and not said anything

No, you did this to save your commission, let's be real here. You seem to be in over your head. If you can't pay your rent, don't blame it on your last deal that you haven't been paid out on. Sounds like you're skating on thin ice, probably be better off going back to work for your last ISO or whatever you did previously. This industry clearly isn't for everyone. Best of luck!

welp...

How about you just fund more deals instead of writing essays on daily funder lol

i guess now we know why they did this post . to get ahead of it

Do we have any updates here? A recent lawsuit was just filed of someone suing Centrex for backdooring data. https://fintalknow.com/centrex_lawsuit

We fund previous defaults, with payment history after the default

Pretty much this, id say if you want good calls you'll be at $50. The $30 calls if real are going to be your more desperate people who are just happy someone made the offer to them. I also posted prior you should always look up when they registered their domain name, just go to a site like godaddy.com scroll to the bottom of the page look for the Whois link, click it and enter their website and see how long ago it was set up. no website dont even work with them. Email is a free mail service dont work with them either. Heres dailyfunder who has a 12 year birthday coming up this month of the idea shawn had https://www.godaddy.com/whois/results.aspx?domain=dailyfunder.com

Prompt in ChatGPT: I'm trying to show someone what mansplaining is. It's a horrible way to speak, but perhaps you can give me an example? Mansplain AI to me and how it can be programed so that people don't realize it's AI. Response: "Oh, let me explain this to you. AI, or artificial intelligence, is like when computers do smart things that usually people do. You know, it's a bit complicated, so bear with me. Imagine a super fancy calculator, but instead of just doing math, it can also make decisions, learn from data, and even recognize patterns. Now, when it comes to programming AI to fool people into thinking it's a real human, well, that’s really advanced stuff. Basically, you write algorithms – those are like detailed instructions for the computer – and you feed them tons of data so the AI can learn and mimic human behavior. It’s really intricate, so don’t worry if you don’t get all the details. The key is that with enough data and the right programming, AI can respond in ways that seem very human-like. But you don’t need to get bogged down with all the technical stuff, just know it’s pretty advanced and really fascinating!" This type of explanation is condescending because it oversimplifies and assumes the listener can't understand complex concepts, even though they might be perfectly capable of doing so. It also uses a patronizing tone, which is characteristic of mansplaining.

How many real customers (business owners will talk to a machine) and will upload documents to a unknown, unsecure upload link?

Ed it looks good. What I was asking him is if he is getting traffic to the site. Without it, it's just a shiny widget. Which is cool, looks good. I'm sure it has the capability to plug in with other use cases like SMS, email but it appears the discussion here is a website. One of the bigger costs here to consider is getting people on site before anyone can interact with it.

He let it rip on the bot pretty hard! :D check this out: (In the last few weeks I've seen my bots book 100's of appointments based upon real world conversations, and none have hit it this hard) Thanks for the glowing review @CJO1998 - I really appreciate it! Looking forward to taking your website traffic (that would otherwise bounce, especially after hours) and converting it into incoming files with our real conversational AI bots! Keep in mind, this bot has just general criteria for all kinds of funding, we can custom build and train it to give real quotes and real time frames as well.

The GASLIGHTING and MANIPULATION is the problem. If you're willing just take anything handed to you, we can't relate.

live transfers are usually $35-$50 a transfer. someone selling them for $15 bucks is scamming you. and they contacted you via IG ..big red flag scammer most likely. Telling you you'll get 10 apps a day means nothing. They are likely giving you fake info once they send you the app you will never be able to get them back on the phone. Many scam transfers companies have a pool of people they just keep alternating to call, they all pick up sound like interested clients and then you don't hear from them again.

Charge the merchant a PSF then. Case closed you got paid.

Heck of an endorsement before even letting it rip for a while. Are you getting traffic to your site?

YES. REALLY DID NEED IT. We were told basically the same day of pay out that we wouldn't get paid. An emergency happened within the office, plus it was the 1st of the month. It would've done us a great justice. Not only that but working on expansion and need to pay for things we need, we shouldn't need to rely on our own funding if we don't have to. In fact, THE MERCHANT advanced US for their error until the FUNDER decides to pay us in order to make things right! The fact that we can't receive the same support from the funder (who wanted us to continue bringing them good deals) speaks volumes! They only offered that deal to compete with another lender we already had a relationship with. They offered the same deal and added like 10 more days and drew us in thinking business with them wouldn't turn to this. The 1st pos we got them was for 11 months with another lender few months before.

Just came across a customer who apparently got a line of credit from Vanguard. This client didn't qualify with On Deck, Headway, Idea or Rapid. Has anyone used them or heard about a line of credit from them? Also, they apparently require him to take a couple of MCA positions before they give the LOC...

There's no doubt that we are a small brokerage and still building. That still doesn't give room to be disrespected like we do not matter. An agreement is an agreement. WE THE BROKER DON'T NEED A LOAN OR AN ADVANCE! CREDIT IS 750+ here WE haven't defaulted. If we had to pay back a clawback then that's what WE AGREE to do. Not here to pay interest if we don't need to. So if there was a clawback, WAIT FOR THAT SITUATION TO PRESENT ITSELF, LIKE THE CONTRACT SAYS! But it never happened! This merchant averages 100-300k now $500k a month and averages over $40000 per day. If anything negative happened, it was technical, and the fact that we actually build relationships with our client, they will make sure they remain on track. If our shop became a Funder or Lender, which may happen one day, we wouldn't treat our brokers this way. Accepting the risk that comes with advancing (anyone) money should be standard. It is up to the funder to assess the risk properly and effectively, and propose accordingly. Not BREACH the contract with the players on THEIR team. If those are your terms ADDRESS THAT IN YOUR CONTRACT CLEARLY! Instead of the ISO Agreement saying: "ISO MUST BE PAID WITHIN (7 BUSINESS DAYS) WITH A CLAWBACK PERIOD OF 30DAYS" It should read: "IF CLIENT MISSES A PAYMENT, YOUR COMPANY WILL BE PAID ON THE BACKEND." Give someone the opportunity to decide if they really want to do business with YOU! We are NOT relying on the commission of 1 deal. Just because I'm being adamant about "30 Days", does not mean we wouldn't want to get them to renew or push for repeat business. DEMANDING to be respected within the stipulations of our agreement is FAR from being a toddler. Those paragraphs are way too long. I WILL CONTINUE TO POST AND EXPRESS EXACTLY HOW I FEEL WHEN I FEEL. Silence me for what? We will NOT tolerate the FUNDER disrespect. AGAIN, my client CONTINUES to pay DAILY! There's NO ACTIVE DEFAULT. The only thing that needs to change is the way Funders treat and USE their Brokers. It's illegal to force free work, and everyone has a fee. Collect it how you collect it, but don't stiff the people working in your favor!

Well I just took the chat bot for a spin 2 times and all I have to say is wow!! It was able to carry on a conversation like a human. Not only did the bot answer off topic and often outlandish statements and questions, it also always moved past them and continued to advance the conversation to the ultimate goal of qualifying and then selling the appointment. I tried to throw the bot off several times by saying the most insane off the wall comments and asking it ridiculous questions and every single time it would respond with some sort of either sarcastic or strikingly human backhanded remark and then refocused the conversation to the ultimate goal of setting an appointment after qualifying the customer and gathering all of the necessary contact info and then also asking for documents..... Needless to say I spoke to Ed and I will be moving forward with employing an iteration of the Jenny bot. On top of that the owner Ed spoke to me at length about the technology behind the bot and several other questions and topics that I felt were important to discuss. All in All if you are looking to employ this type of tech I would say look no further because I have tried several other ones that were no where near this bot. Chris Oliveto CEO Bullhammer Business Solutions LLC Coliveto@Bullhammer.org 631-579-8628

What was the factor on the deal @ontap what is your avg buy rate?