[JayBallentine]

I think the answer to that question is obvious. But "hiding a UCC" is almost an oxymoron...

Anyway - we've built algorithms that Infogroup would probably find valuable. They enable us to find where guys are hiding... Some of the names they are hiding under, you have to see to believe. I won't list them here but my jaw dropped when I saw it / them for myself.

Imagine "Top Notch Funding" filing UCC's under "Big Bird Capital." Again - just an example to illustrate what I am seeing. Not to mention the clever things they are doing to the filing docs themselves.

Some funders are also hiding their UCC's under residential addresses which seems like a bit more risk that I would ever take on... Scratching my head on this. Consumer complaints should be directed to Yelp or something and not my relatives' house.

Are the market conditions such that funders are now forced to hide UCC's either under CSC or residential addresses, under obscure names for fear of being found?

What's going on here?

[MCNetwork]

Yes the conditions warrant UCC aliases. Every new ISO that springs from the woodwork starts cutting their teeth on UCC lists. You have to try and protect your portfolio from the vultures. Some funders don't even file a UCC. Are they even that useful in the event of default anyway? A collections agent will still try to collect regardless of whether or not there's a UCC on the business.

[Chambo]

UCC's were first instituted to let other funders know that Funder X was already there. This was to prevent merchants from getting two advances.

With every Tom, Dick and Harry ISO calling UCC's now, and with stacking everywhere, the UCC's don;t even matter. Why bother?

[JSL23]

UCC's were first instituted to let other funders know that Funder X was already there. This was to prevent merchants from getting two advances.

With every Tom, Dick and Harry ISO calling UCC's now, and with stacking everywhere, the UCC's don;t even matter. Why bother?

The big plus with UCCs is that they have a familiarity with MCA/RBL and are proven users of our type of funding. It makes the sales cycle faster. The obvious negatives is everyone calling on them and stacking. They are still worth calling but not exclusively. Incoming dialer, LinkedIn and referrals work pretty well for me too. I'll probably utilize those methods and other forms of marketing more and UCC leads less as time goes on.

I kind of like slightly aged UCC leads(12-18 months) a bit more, just because they have no balance(unless they renewed) and aren't getting bombarded as much.

Do you all think they will be used less industry wide in the next 6 months or it will stay the same?

[channin19]

The big plus with UCCs is that they have a familiarity with MCA/RBL and are proven users of our type of funding. It makes the sales cycle faster. The obvious negatives is everyone calling on them and stacking. They are still worth calling but not exclusively. Incoming dialer, LinkedIn and referrals work pretty well for me too. I'll probably utilize those methods and other forms of marketing more and UCC leads less as time goes on.

I kind of like slightly aged UCC leads(12-18 months) a bit more, just because they have no balance(unless they renewed) and aren't getting bombarded as much.

Do you all think they will be used less industry wide in the next 6 months or it will stay the same?

It will stay the same.

It's been years since we considered UCC's as a main marketing channel. They are good for new reps to start talking with merchants especially if they have no prior sales experience.

In terms of protecting your portfolio a merchant you pick up off a UCC list is more likely to leave because there is no foundation to the relationship.

Educating a merchant on what alternative finance options are available demonstrates your value and knowledge and from personal experience leads to a longer relationship.

But thats just my two cents.

[JSL23]

It will stay the same.

It's been years since we considered UCC's as a main marketing channel. They are good for new reps to start talking with merchants especially if they have no prior sales experience.

In terms of protecting your portfolio a merchant you pick up off a UCC list is more likely to leave because there is no foundation to the relationship.

Educating a merchant on what alternative finance options are available demonstrates your value and knowledge and from personal experience leads to a longer relationship.

But thats just my two cents.

I've formed a few decent relationships that began with me calling a UCC. Maybe I got them a better rate, got them away from a Lender they weren't happy with, etc. Overall though, you are right, you do build a more solid foundation via other methods.

I'll use them because they are good for volume and do fund faster, but as my book grows(still only 9 months in industry) I will focus more on referral based business, social networking and even go old school and do more mailers.

I don't think they'll go away completely, but I think less Funders will file them and will change aliases more often.

[Rob Buchanan]

JayBallentine,

We at Infogroup know who is who and the alias names used. This is something that we pay attention to and keep up on.

[JayBallentine]

JayBallentine,

We at Infogroup know who is who and the alias names used. This is something that we pay attention to and keep up on.

I placed a "test" order with you to validate a hypothesis as we have no need to order UCCs. Our test order lead us to believe that either we were purposely under served, or, we have some stuff you don't have.

Which one?

[Rob Buchanan]

I placed a "test" order with you to validate a hypothesis as we have no need to order UCCs. Our test order lead us to believe that either we were purposely under served, or, we have some stuff you don't have.

Which one?

I think your questions/concerns are something you should discuss directly with me and not on an open forum. But to answer your question if you were under served that would be from your own doing due to purchasing a number of leads that is/was too small for any kind of test.

Thank you

[JayBallentine]

I think your questions/concerns are something you should discuss directly with me and not on an open forum. But to answer your question if you were under served that would be from your own doing due to purchasing a number of leads that is/was too small for any kind of test.

Thank you

Rob,

I absolutely did address my concerns over what you delivered. I did so to you directly over the phone.

[Rob Buchanan]

Rob,

I absolutely did address my concerns over what you delivered. I did so to you directly over the phone.

Ok, well if you already did then I guess you don't need to do it here then do you?

Thank you

[JayBallentine]

Ok, well if you already did then I guess you don't need to do it here then do you?

Thank you

Rob,

You called me out personally. Not the other way around.

[cashguy]

That's pearl

[cashguy]

Previous thread, industry knowledge

[channin19]

What leads you to believe that it's pearl?

I believe the person there is Elliot. This is the UCC/funding company that Pearl uses to backdoor ISO's/Agents.

[funding pro]

I believe the person there is Elliot. This is the UCC/funding company that Pearl uses to backdoor ISO's/Agents.

Backdoor agents? But wait a minute, those guys posted a thread on here not too long ago and all of their friends and employees came on here pronouncing them the cream of the crop and talking about how they revolutionized this entire industry. Now I'm just confused...

giphy.gif

[1StopFunding]

LOL Funding Pro
flatlined.jpg