[WestCoastFunding]

Changing your story now? Last post you said it was a week now it's a "period of time". Sounds like you're putting out some misinformation and now backtracking when getting called out on it.

Gotta tell you, anyone that's been in this business for a while knows that it's common that files get shopped out by funders after 7-14 days. BFS actually makes no attempt to hide this fact, as they're open about it. So maybe you should inform yourself so that you don't take offense to someone pointing out factual information.

[MCAVeteran]

Im hoping not all do this but if your iso agreement states they can they will. I have read iso agreements that state the right to solicit your merchant for example.

[MCAVeteran]

bfs owns grp outright https://www.sosnc.gov/Search/profcorp/10741222 why go thru grp when you can work directly with bfs?

how do you get a payoff letter from them? call bfs or grp if attempts are not working

[Karen37a]

When you are dealing with a Funder and they cant get back with a quote within a reasonable time, or they go dark on you....bet your bottom dollar they are shopping it out.

Also if they are excessively stipping you up the ying yang , they could be shopping the merchant out, then the merchant gets pissed at you and says " I had enough of this you are too hard to do business with"....then someone just picks up the back end with 99% or 100% of the docs in.


Deal that fall apart on last stage of funding ( final underwriting )could have been taken from you, unless their is a logical reason. (Discovering something on a background check, huge liens)

THEN they can do with it what they want because they have all the documents.

[Karen37a]

Im hoping not all do this but if your iso agreement states they can they will. I have read iso agreements that state the right to solicit your merchant for example.

Almost all Iso agreements state that the file is theirs after a certain period of time. 7-14 -30 days.


Some brokers submit files then disappear . The Funder does put in x amount of money per file...credit checks, processor, paper ink...whatever it is. So Isos/ Brokers cant have a "tag your it" mentality....I touched that file so therefore its mine for life with that Funder ( this is why they hit the credit 50 times, they think they are saving the file under their name)

This concept becomes bastardized when funders hold back on Funding, ask for more stips etc etc so you are out past the deadline. They can deny or stall and then come back in 14-30 days and fund thru their inside sales team. Sometimes they do not even wait the 14-30 days and sometimes their is really no way of knowing if 5 brokers sent in the same file, and if anyone got paid ( unless you control the merchants loyalty)

Merchants sometimes will sell you down the river for a 1-2 point drop.That is why I do not play games with merchants, or Funders...if they do not want to do right by you , just use another Funder who will.

Good news is these merchants usually default...so just call back in a month or so , try to grab the renewal, they will sometimes say " i closed my bank accounts down the min I got the money", get a good laugh out of it, then think..."glad I didnt fund that and pay my brokers commission, I would have never got it back"

[Lendvo]

We @Lendvo go out to 18; not simple to get there though, has to be A paper.

[D$$]

Unless those are short term programs or lower credit programs you arent closing a first pos A deal upselling 20 points. Why even promote 20 points for First pos with so much competition out there?

Come on @MCAVETERAN because we can? It's just another sale. Now go grab a pen and a piece of paper

[MCAVeteran]

Come on @MCAVETERAN because we can? It's just another sale. Now go grab a pen and a piece of paper

upsell 20, get undercut by everyone including funder you sent that deal to, brilliant.