Results 1 to 25 of 33
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06-02-2017, 08:21 PM #1
Does bfs back door deals?
Hey guys im curious. Has anyone had the experience or know of anyone with the experience of BFS doing deals out the back door?
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06-02-2017, 08:37 PM #2
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- Oct 2016
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- 4,318
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06-02-2017, 08:41 PM #3
they have a sales division so everything they don't book gets sent into their 3 sales offices after a period of time.
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06-03-2017, 02:17 AM #4
I've worked with them on several occasions and I've actually received emails from them where they give you an exact date that if you don't close the deal and it's open for someone else and sometimes they say that on the same email that they send the offer with however I have heard that they do backdoor deals and I don't think it's particularly that company itself but probably just a rouge broker through them other than that I've closed some pretty good deals through them
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06-03-2017, 03:40 AM #5
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- Mar 2015
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- 78
They might be the ultimate example of lender treatment based on history. A couple ISOs I know have gotten paid on renewals that were originated as far as a year ago w/o any maintenance. On the other hand Entrust and their other sales arms are notorious for backdooring, both with rogue agents and inhouse. If you dont plan on making them a consistent lender or aren't 100% sure you'll close the deal with them, buyer beware.
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06-03-2017, 09:39 AM #6
This has become pandemic throughout this industry with no governing body holding anyone accountable. It has also given rise to a new generation of funders that are seeking opportunity for new broker business.
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06-03-2017, 10:09 AM #7
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- Oct 2016
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Let's not forget that one of BFS's Florida competitors was on here a few days ago telling everyone that BFS outright "steals files (before the thread was pulled).
What an industry.Last edited by WestCoastFunding; 06-03-2017 at 11:15 AM.
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06-05-2017, 09:53 AM #8Karen37aGuest
Edit
If you do get offers from them expect a lot of Stips but great offers. If you can't get the A paper stips you are not going to close.
Ask in advance.
Gl ***Last edited by Karen37a; 06-05-2017 at 01:21 PM.
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06-05-2017, 10:08 AM #9
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- Jan 2015
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- 97
this recent posting probably says it best about them, They call themselves direct lenders however a good part of the business is farmed out that makes BFS the same as any broker"
Last edited by mcashark; 06-06-2017 at 01:46 PM.
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06-05-2017, 10:55 AM #10
what about this one "Company has absolutely no relationships with other lenders so the 99% of deals BFS won't fund get flushed down the toilet".
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06-05-2017, 11:02 AM #11
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- Jan 2015
- Posts
- 97
you believe that Tony, lol, you worked for Entrust/BFS didn't you?
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06-05-2017, 12:28 PM #12
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- May 2017
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- 170
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06-05-2017, 03:04 PM #13
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- Oct 2016
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06-05-2017, 06:27 PM #14
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- Oct 2016
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- NYC
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- 118
Yes, they do!
I caught them red handed with a merchant that was a referral from my attorney. Not like a cold-call where he didn't owe me anything. Nicest merchant showed me everything that happened. They went behind my back when I was indeed going to close with them in order to avoid paying me the commission. Stay away!
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06-06-2017, 04:19 PM #15
this JUST happened to me today. WTF is going on over there?
Sean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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06-07-2017, 09:19 AM #16
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- Nov 2016
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- 91
I'm glad we stopped submitting deals to BFS a while ago. Looks like things haven't improved much.
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04-13-2018, 02:28 AM #17
- Join Date
- Feb 2018
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- 1,349
they use other entities to capture the business. for example, grp , is an entity they purchased and all the broker business they receive, went/goes to BFS for years. Before GRP, there was GBR out of GA.
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04-13-2018, 05:45 AM #18Karen37aGuest
Some of you are crazy.
Too busy babbling about 100k salaries to try to figure out what the fk happened here in tampa and how elizabeth became karen
And how karen became an iso and charged forward with an army of 1099 nuts
keep giggling like girls about how Karen never had a securites licence and was barred from the financial industry when it wasnt true.
Do you reealize maybe someone started those stories so you all wouldnt get 30 brokers deals?
nope...some too busy pretending to be mr big stuff
mca ...its not a job its an adventure
Those of you who didnt like "karen" the supposed non securites licenced one deal basement wonder....dont like Elizabeth...another new office opening and more brokersLast edited by Karen37a; 04-13-2018 at 06:06 AM.
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04-13-2018, 06:21 AM #19Karen37aGuest
https://www.youtube.com/watch?v=6ZZI6-zh0GM
When you fire or terminate everyone to get their book of business, you do not have to give the "whos coming with me" speech.
And when they give the book of business to someone for free( really dont get paid for it) ...thats the classic "selling the dream" smh
Remember you cant sell the dream if you are living the nightmareLast edited by Karen37a; 04-13-2018 at 07:06 AM.
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04-13-2018, 12:15 PM #20
- Join Date
- Dec 2017
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- 397
BFS takes forever to get done, gives great offers and has a **** ton of people working for them (some bad) deduce what you want
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04-13-2018, 01:28 PM #21
- Join Date
- Jan 2014
- Posts
- 1,380
they most definitely do...we have caught them 3 times..once you bring it up to them then they will offer extra pts on deals for the next month to make up for it... they do make great offers just make sure you have your merchant locked in solid to only deal with you.
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04-13-2018, 02:16 PM #22
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04-13-2018, 02:20 PM #23
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- Jan 2018
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- 11
BFS is done. Just closed their 2nd office in Tampa this week.....
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04-13-2018, 02:24 PM #24
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- Mar 2017
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- Nunya
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- 830
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04-13-2018, 02:43 PM #25
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- Jan 2014
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