[MX211]

FUNDKITE? BROKER? Feedback is greatly appreciated, I see this topic has been asked, not necessarily answered. We have requested a copy of the funding agreement to read the verbiage our client would be signing, and they have responded, with no go. We also see varying reports of whether or not they pull as Fundkite or are whitelabeling.

[FundKite]

FUNDKITE? BROKER? Feedback is greatly appreciated, I see this topic has been asked, not necessarily answered. We have requested a copy of the funding agreement to read the verbiage our client would be signing, and they have responded, with no go. We also see varying reports of whether or not they pull as Fundkite or are whitelabeling.

Hello MX211,

1. We are a direct Funder.
2. All of our pulls show up as Fundkite. We have decided to attach a screenshot of our pulls so there are no more questions regarding this matter.
fundkite-pulls.jpg

Lastly, not even sure what you mean by we would not provide funding agreement, if you requested contracts we would send them. Why would we not? Makes no sense at all. You are more then welcome to call Joe or Steve in ISO relations 929-999-7500.

Hope this clarifies your questions.

[NoBigDeal]

FUNDKITE? BROKER? Feedback is greatly appreciated, I see this topic has been asked, not necessarily answered. We have requested a copy of the funding agreement to read the verbiage our client would be signing, and they have responded, with no go. We also see varying reports of whether or not they pull as Fundkite or are whitelabeling.

I don't blame them for not sending a copy of their agreement. Why should they give you information on how they write up their agreements and possibly use it towards their collection efforts?

[Joseph Esparza]

I don't blame them for not sending a copy of their agreement. Why should they give you information on how they write up their agreements and possibly use it towards their collection efforts?

Thank you NoBigDeal...Not in the practice of sending out Blank Contracts...Rule 101 - in the MCA Handbook. All other questions are welcomed.

[ridextreme]

We have requested a copy of the funding agreement to read the verbiage our client would be signing, and they have responded, with no go.

call up your local car dealership and tell the finance manager you're interested in financing a car, but you would like him to email you a blank finance agreement. I bet it will also be a no go.

[FundKite]

We don't always get a kick out of forums, but your reply put a

[brokerCompany]

weak offers. nothing none of the other funders don't offer

[Joseph Esparza]

weak offers. nothing none of the other funders don't offer

Don't you just love anonymous haters...probably wanted a 3rd position, weekly, for a Gas Station...and we let him down. lol.

[Michael I]

Don't you just love anonymous haters...probably wanted a 3rd position, weekly, for a Gas Station...and we let him down. lol.

Haha I actually funded that exact situation about a year ago.next time say a 13th position weekly

[splurge37]

Be careful in your dealings with them, that's all I'll say.

[HDF]

Be careful in your dealings with them, that's all I'll say.

Do you have any basis for this? It is way too easy to try to harm a funder on here. In general terms, what is the beef?

[Israel Funding]

I heard alot of great things about fundkite. They have great sales and underwriting team. They are great for piggybacking if u want to start in the advance space.

[Nikkiclean06]

Submitted a deal friday
Approved Monday
callled to confirm offer (confirmed)
Sold offer to Merchant
Requested contracts
Five Mins Later I get Decline email saying. Risk department has declined this
I called to confirm. I was told the industry is shakie and the rep is stuttering while he is telling me this
This Industry is not shakie on my end. He should of said it was windy to go along with your Kite
I will not be sending another deal to them

[NoBigDeal]

Submitted a deal friday
Approved Monday
callled to confirm offer (confirmed)
Sold offer to Merchant
Requested contracts
Five Mins Later I get Decline email saying. Risk department has declined this
I called to confirm. I was told the industry is shakie and the rep is stuttering while he is telling me this
This Industry is not shakie on my end. He should of said it was windy to go along with your Kite
I will not be sending another deal to them

What's the industry?

[Nikkiclean06]

Logistics
I get the decline. I dont get the approval and then a decline after requesting contracts. I dont have lenders in my matrix that get down like that. so its a little uncomfortable

[NoBigDeal]

Logistics
I get the decline. I dont get the approval and then a decline after requesting contracts. I dont have lenders in my matrix that get down like that. so its a little uncomfortable

At least they didn't decline it after you sent back signed docs. I could always get over a decline on the front end. Not that I'm promoting that you should or shouldn't do business with them (I'm a competitor), but it seems a little harsh that you're dropping them as a funder for declining the deal after a 2nd look at the file.
Having said that, if you're looking for another Funder to fill the gap, let me know

[Nikkiclean06]

Maybe your right if there was a short in lenders. But there isnt and I could work with all of that. What I can not work with is the reason which was

The Industry is shakie <<<<<

[ridextreme]

yup I don't think there's a funder in the industry that hasn't killed a deal after it's been approved with signed docs and stips in (or even after requesting contracts). I wonder how long it will take for that broker to run out of funding sources.

[Nikkiclean06]

I will be fine
dont think you read the thread Bud
the reason i was given for the decline is because the Industry is shakie <<<<<

[Nikkiclean06]

and then added because of the Industry. Not sure if thats your normal process but the Industry is front and center on all deals. I have had alot of deals kill after being approved contracts in Etc.

[splurge37]

Do you have any basis for this? It is way too easy to try to harm a funder on here. In general terms, what is the beef?

Agreed, it is too easy to harm a funder on here - but didn't want to be too public other than to warn. In general terms, its concerning when ISOs and lenders enter legal action against one another; significant 'misdealings' as an ISO (assuming they white label and aren't a full lender) speaks to their credibility. Feel free to DM and I can provide additional information if necessary.

[Davincinc]

[QUOTE=ridextreme;74984]yup I don't think there's a funder in the industry that hasn't killed a deal after it's been approved with signed docs and stips in (or even after requesting contracts). I wonder how long it will take for that broker to run out of funding sources.[/QUOTE

I have had this done 7 time will most over 50k upwards to 250k. But that was one lender who ACTUALLY send contacts then underwrites after coj was overnighted.... 7!

with 7 said, their were 2 other lenders, but I have posted their issues in the past. it happens but those lenders shouldn't last too long.

[ADiamond]

Hello MX211,

1. We are a direct Funder.
2. All of our pulls show up as Fundkite. We have decided to attach a screenshot of our pulls so there are no more questions regarding this matter.
fundkite-pulls.jpg

Lastly, not even sure what you mean by we would not provide funding agreement, if you requested contracts we would send them. Why would we not? Makes no sense at all. You are more then welcome to call Joe or Steve in ISO relations 929-999-7500.

Hope this clarifies your questions.

i just want to touch on this for a second, do we not all know how easy it is to white label a brokered contract to someone's platform who can debit as the white label'ed entity?

not saying that's what's going on but i am not going to accept this as verified proof anyone is a direct lender.

if you guys want to deal with a direct lender why dont you try building a relationship with them, go to their office, try to come up with a strategic strategy to fund more deals instead of making one call/email, signing an iso agreement, sending all of your submissions to god knows who, then coming on here and labeling them as a broker because you're not happy with the experience? it's your own damn fault.

[FundKite]

Anthony,

We appreciate your perspective on this. Everyone is more then welcome to come in and visit us. Get to know our underwriters and team as well as Our Pricing and our best practices.

Usually its the funders that visit the ISO, and so many of them are just brokers.

We have quiet a core group OF ISO's whom we have built a great steady funding relationship with.

Call us, come out and have lunch let's grow together,


ISO Concierge Line
929-999-7500

[Joseph Esparza]

i just want to touch on this for a second, do we not all know how easy it is to white label a brokered contract to someone's platform who can debit as the white label'ed entity?

not saying that's what's going on but i am not going to accept this as verified proof anyone is a direct lender.

if you guys want to deal with a direct lender why dont you try building a relationship with them, go to their office, try to come up with a strategic strategy to fund more deals instead of making one call/email, signing an iso agreement, sending all of your submissions to god knows who, then coming on here and labeling them as a broker because you're not happy with the experience? it's your own damn fault.

Anthony, very well put my old friend and underwriter.