[Matrix1]

So my merchant was approved for $180,000 advance everything was done and that all they needed to do was the funding call
All she had to do was have her husband call and it was a done deal but instead she took it upon herself to do the funding call. She had the nerve to call me and tell me that she actually used a fan. So on the funding call instead of her husband calling, she placed a fan by the telephone and try to act like her husband
and of course they caught it and it went to fraud protection. Luckily we were able to get the case re opened and I was able to get them funded.
How stupid do you have to be to practically get $180,000 deal killed because you think you can get away with sounding like your husband. Smh what the hell is wrong with some of these merchants?

[Michael I]

first decline i had on a merchant interview was the merchant telling the lender they are using the money to go on a honeymoon.
most recent one was a merchant telling a underwriter from florida can i speak to an american

[Karen37a]

I had a merchant's Mistress once pull 3k out of the bank account the day they were looking dragged the balance down to 0. decision logic.

Another Merchant withdrew 2k day of final underwriting ...I called and said wth are you doing...he then goes to the bank to put it back...he deposits cash then writes a check to himself and pulls it right back out thinking it wouldn't clear for 3 days and no one would see it...deals dies, I call to find out what happened and his secretary says he went to Vegas . I then hunt him down and call the hotel room "what did you think I wouldn't find you, you are lucky you didn't take a MCA and blow it gambling, you said it was for renovation" lol

He has a 750 credit score though and makes 500k a month...

A Doctor also told an underwriter he was wasting his time and didn't tolerate imbecilic questions on the merchant call. He got denied. Then the Doctor asked me to call the underwriter back to change his mind. I said "you want me to call the guy back that you called an imbecile and ask for a favor"....yes.... "no"

[RickyR3712]

merchant forged the payoff letter when the lender would not give it. I am still sore about losing that deal but funder would not do it because it means that he is willing to fraud or some crap like that.
merchant told underwriter you have no rights to tell me i can not take out more funding for my business,if i need it and the terms are right I will 100% take it.

[NoBigDeal]

All that was left was a funding call, and my merchant was too impatient. Kept pushing the funding dept on the call to send him the money. Admin said, "we just have to complete the call." Merchant started going crazy and accused the admin of being a racist.
Underwriter ended up declining the deal because of the "merchant's temperament." Underwriter said, "if this is how the merchant acts before we fund, imagine how crazy they'll be if we funded and the deal defaults."
Was hard to argue with that

[Karen37a]

Thoughts to ponder...

If the Vegas guy who spent his money ( who really knows how much and if he lost), doesn't have money for inventory...3 months down the road (let's assume he lost). Then he applies for another merchant cash advance with someone else and says he needs money for "inventory"

Was that because 3 months earlier he spent money on gambling and lost? Or he won and something else happened like a client didn't pay????
What if he floated along for a year THEN wanted money.Isn't it still the gambling that put him in the original hole?

How can you quantify it? You can't.

One good thing.Some Isos are like this buffer between funding and deadbeat denials in advance because we hear the crazy Vegas/ Mistress stories.These are people and there is a human element to funding it isn't just about 750 credit score 0 NSFS= A paper lower risk

I bet that secretary never tells someone he went to vegas again.Or they learn to not yell racist or say "honeymoon" to the next 1000 ucc callers

[Karen37a]

We all have zillions of stories

As I sifted thru the massive applications, I stopped fighting for A plus paper rates( for all merchants ) years ago when I realized I couldn't really tell ( 100% ) who was who.

[AndyYSCISOdept]

Came in on Friday Dec. 23rd for a deal my new rep had been working for a month (150kl). Everything is completed, literally ready to fund and then I get a call when a junior underwriter realizes that on the tax return for this year the merchant put a 1 infront of the 1.15MM on their income. making it 11.5MM.......MORON!!!!

[Israel Funding]

Came in on Friday Dec. 23rd for a deal my new rep had been working for a month (150kl). Everything is completed, literally ready to fund and then I get a call when a junior underwriter realizes that on the tax return for this year the merchant put a 1 infront of the 1.15MM on their income. making it 11.5MM.......MORON!!!!

I would always examine for myself all documents. Never know if the insider is backdooring the deal himself.

[happysales]

My worst was a few years ago-site inspector shows up to a huge sign in the window-SALE-going out of business-everything must go