Funding Circle allegedly .... no longer deal directly with “small broker
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  1. #1
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    Funding Circle allegedly .... no longer deal directly with “small broker

    https://smallbusinesslending.io/fund...locks-brokers/

    http://www.altfi.com/article/3416_ma...ts_off_brokers



    Cresthill will always work with the Small Broker....!!! SIGN-UP TODAY!!
    Marcus Clapman | Business Development | Cresthill Capital
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    Tel: 917-521-6528 | Fax: 212.671.1473
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    http://www.cresthillcapital.com

  2. #2
    Not a surprise. Their model is not catered to the typical mca type broker. Also, because they are more of the stewardship of investors money than a balance sheet lender, they have to be extremely careful who they allow to market their loan programs. If defaults rise and investors audit and learn it was brokers who originated bulk of loans, it would case hardship on their brand.

  3. #3
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    from rabbi's to priests to teachers always a bad apple.... to tell family to stay away from them would be an injustice....
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    ——————————————————————————
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  4. #4
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    I have a great ISO with them and put up 250K+ with FC last month. Sept is looking better for that product and if they do I have like five other FC products

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    If you need to place a FC merchant contact us!

  6. #6
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    Quote Originally Posted by Nikkiclean06 View Post
    I have a great ISO with them and put up 250K+ with FC last month. Sept is looking better for that product and if they do I have like five other FC products
    Nikki that dont mean ****. I did an average of 300k + a month with them and i am now cut off. Why? because one out of 30 plus deals went bad.They are finding any excuse. My buddy got cut off because he did not fund any in one month.

  7. #7
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    Quote Originally Posted by RickyR3712 View Post
    Nikki that dont mean ****. I did an average of 300k + a month with them and i am now cut off. Why? because one out of 30 plus deals went bad.They are finding any excuse. My buddy got cut off because he did not fund any in one month.
    I got cutoff because I didn't respond to an email survey they sent that ended up in my spam folder.

  8. #8
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    How do you know that you got canceled?

  9. #9
    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Funding Circle just doesnt want to keep having deals sent to them from ISO's who have no clue on how to qualify a merchant for the funding circle product!!
    Why pay hours to underwriters and the ISO's are just submitting garbage files to them?
    Totally agree with Funding Circle on this powerful and needed change.
    From my knowledge they have cut off many ISO's that just are submitting to them and have no clue what they offer!!!!!
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  10. #10
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    Quote Originally Posted by RickyR3712 View Post
    Nikki that dont mean ****. I did an average of 300k + a month with them and i am now cut off. Why? because one out of 30 plus deals went bad.They are finding any excuse. My buddy got cut off because he did not fund any in one month.
    I didnt get cut off U might want to look at that. There cutting all ISO off that fund a deal and that merchant ends up with a daily payment. Like I said you might want to take a look at that. My deals are super clean with them and Renewable

  11. #11
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    Quote Originally Posted by CraaaCraaa Radio View Post
    Funding Circle just doesnt want to keep having deals sent to them from ISO's who have no clue on how to qualify a merchant for the funding circle product!!
    Why pay hours to underwriters and the ISO's are just submitting garbage files to them?
    Totally agree with Funding Circle on this powerful and needed change.
    From my knowledge they have cut off many ISO's that just are submitting to them and have no clue what they offer!!!!!
    True Story.

  12. #12
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    Quote Originally Posted by Nikkiclean06 View Post
    I didnt get cut off U might want to look at that. There cutting all ISO off that fund a deal and that merchant ends up with a daily payment. Like I said you might want to take a look at that. My deals are super clean with them and Renewable
    How many deals have you done ? I also heard from a couple of people that do serious volume that had one default and they got cut .
    Me for some reason am still able to submit but stopped after my declines were getting calls from mca people

  13. #13
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    They cut me off after one bounced payment from one merchant. Averaged a deal a week with them for about 2 years, no prior issues.

  14. #14
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    Quote Originally Posted by Michael I View Post
    How many deals have you done ? I also heard from a couple of people that do serious volume that had one default and they got cut .
    Me for some reason am still able to submit but stopped after my declines were getting calls from mca people
    I have done my share. Since starting my own company in March I have done six deals which is not a whole lot but I have had some good deals with them that those deals were generated from a an account manager from a brick and mortar bank that was referral and all California deals..... I do not stack my own deals and I dont charge any fees after it funds either

  15. #15
    Do you require collateral?

  16. #16
    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Quote Originally Posted by mcaguru View Post
    https://smallbusinesslending.io/fund...locks-brokers/

    http://www.altfi.com/article/3416_ma...ts_off_brokers



    Cresthill will always work with the Small Broker....!!! SIGN-UP TODAY!!
    Do you blame them. Massive man hours to pay for underwriters and the brokers are not understanding the product, underwriting guidelines or the benefit of having funding circle in your arsenal to outsource.

    Cut the fat off the steak. Save on paying all the man hours to underwriters, processors, scrubbers, and etc etc.

    Brokers need to stop playing:

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  17. #17
    Member Reputation points: 52 lrodda's Avatar
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    We are signed up with FC and Can.

    www.globelend.com

  18. #18
    Quote Originally Posted by lrodda View Post
    We are signed up with FC and Can.

    www.globelend.com
    congrats they liked your business. both being selective.

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