[BusinessLendingMadeSimple]

I Signed my first deal with New Era three weeks ago and have not received my commissions. This was a referral from Strategic for a second position. Paperwork went to Strategic.
I got a lot of excuses for not paying the commissions.
The highlights include:
- "The funds will go out on Tuesday and you will receive it on Wednesday. Great job on this one. On to the next one." (Dated May 2nd, 2014)
- "Saul, (the guy that pays commissions) is on vacation."
- "Saul is stuck in Israel" (two weeks ago)
- "The ACH system is goofed up" (now fixed)
- "I'm going to see if we can release your commission before this Friday"
- "I'm checking on it"
- "I'll try to get you paid"

Anyone else have this kind of experience with them?

[cashguy]

It's funny how stageic named their stacking company new era.

[Jared_Weitz]

I've always steamed clear of those guys. Glad I didn't sign up with them when they called to pitch me

[New Era Lending]

Hi I am Saul

Mr. Lamere

New Era Lending has funded over 40MM UTD since July of 2013 and we have over 60 ISO that are very happy doing business with NEL

it is true that you didn't get paid for the deal that we funded for you withing 48 hours of getting the app and giving your merchant a 8 month term for $80,000.00 on 5/2 BUT in your post you forgot to mention that your merchant STOPPED PAYMENT on every ACH from literally day one, since then we have received a few payments from the merchant the commission was paid today

So in the future when you want to run around and say whats on your heart please state the full story

Thanks & Good luck on your future Endeavors

[Factorone.8seven]

World Business Lenders is notorious for not paying commissions as well.

[Sean Cash]

Hi I am Saul

Mr. Lamere

New Era Lending has funded over 40MM UTD since July of 2013 and we have over 60 ISO that are very happy doing business with NEL

it is true that you didn't get paid for the deal that we funded for you withing 48 hours of getting the app and giving your merchant a 8 month term for $80,000.00 on 5/2 BUT in your post you forgot to mention that your merchant STOPPED PAYMENT on every ACH from literally day one, since then we have received a few payments from the merchant the commission was paid today

So in the future when you want to run around and say whats on your heart please state the full story

Thanks & Good luck on your future Endeavors

hey are you guys in delaware?

[New Era Lending]

New York, Miami Delware and now a new office in TEL AVIV

[funding pro]

So strategic stacks, but they do it under a different company name? Can someone from Strategic comment on this? I know the guys at YSC work very closely with them. Maybe they can fill in or reach out to have one of their higher ups explain the relationship.

[New Era Lending]

Companies Use their platform, NEL is a Private company NOT owned by Strategic but by individuals who are pioneers in this industry

[funding pro]

Nothing sells me on a company being a pioneer in the industry more than them saying it about themselves...

Sold_Stamp38.jpg

[LoanShark714]

Saul from Factor.

[New Era Lending]

Nothing sells me more than a guy who calls himself FUNDING PRO , we have something in common

[isaacdstern]

Many company's use the SFS colonial platform successfully...in this case it's New Era run by Danny K and Saul Dahan...both Mentsch's (stand up guys) btw..so to clear it up this is not SFS corporate doing grasshoppers..I'm sure if there is a commission discrepancy it is a mistake and they will rectify the situation ASAP

[BusinessLendingMadeSimple]

We we finally got somebody to pay attention. The facts are correct, but I will digress.
Finally got paid after three weeks of funding. I'll remove the post.
Thanks for your comments.
Good luck all!

[Moshe]

Keith please tell both sides of the story
As far as I know we funded this merchant $80k on a 9 month deal and the first ach we pulled was stop R08
Meaning he stop it and any cash provider would automatically consider it a default so we wanted to wait for 10 payments to clear to release the commission is this correct ?

[Sean Cash]

Many company's use the SFS colonial platform successfully...in this case it's New Era run by Danny K and Saul Dahan...both Mentsch's (stand up guys) btw..so to clear it up this is not SFS corporate doing grasshoppers..I'm sure if there is a commission discrepancy it is a mistake and they will rectify the situation ASAP

yea somebody else I know assumed that because a funder was using colonial, that they were secretly owned by strategic. Strategic created the first open funding platform for any funder to use.

[Chambo]

Hi I am Saul

Mr. Lamere

New Era Lending has funded over 40MM UTD since July of 2013 and we have over 60 ISO that are very happy doing business with NEL

it is true that you didn't get paid for the deal that we funded for you withing 48 hours of getting the app and giving your merchant a 8 month term for $80,000.00 on 5/2 BUT in your post you forgot to mention that your merchant STOPPED PAYMENT on every ACH from literally day one, since then we have received a few payments from the merchant the commission was paid today

So in the future when you want to run around and say whats on your heart please state the full story

Thanks & Good luck on your future Endeavors

Wow, talk about "an inconvenient truth".

Great to hear the FULL story, and not just some whine

[spotonfinancial]

I have done several deals with NEL. I worked personally with Saul and those guys. I have been paid on-time everytime. They have even allowed me to keep my commission check after the company went out of business. I am not a fan of a number of guys in this forum. But, when you don't do good business with a company don't trash their name because of your trash deal.

[AMERICApital1]

no problems with strategic fast approvals and funding so far

[rld]

Your guy defaulted and you still got paid in the long run.. I might look these guys up for some of my deals soon!

[JSL23]

Hi Saul, we don't know each other but I am glad you made it back from Israel safe!! It can be a very volatile area!

Not that it's any of my business and I personally have never had an issue with Strategic, but instead of having your staff come up with every excuse in the book like some indecisive, fence sitting Merchant, why didn't you just bring it to the rep's attention immediately. It seems like you guys let him know at some point, but why the runaround? Since the Broker got paid he shouldn't have thrown you under the bus like that, but I guess I understand. It's a good reminder for me to always be honest and direct with those I do business with. In any partnership, transparency is paramount.

[rld]

Do we know that he wasn't told before posting? I had thought it sounded like he knew the merchant defaulted from the beginning. If I was waiting weeks to get paid on a deal I definitely would have been asking both the lender and my client what was up.

[JSL23]

True. To me, common sense dictated he had made sure the Merchant had not defaulted before posting. I guess I was looking at it from my own eyes(Broker/Salesman) and knew I would never even consider name dropping or accusations without first checking out all angles.

[funded]

i hear new era goes out 10 months ?

[SBF]

Tyler and Saul are great to work with... I placed 3 merchants with them in the span of 2 weeks. Each merchant was very complimentary of New Era through the entire funding process. I was paid promptly for each deal.
As you can see, being transparent in everything you do and say, is paramount.