[jcoop]

I am interested in funding some of my clients directly. Does anybody know how to set up ACH's, and have contracts? I remember hearing about a company called Colonial who would handle that. Are they still around? Any help would be greatly appreciated.

[Karen37a]

It would be best if you syndicate with certain funders imo. This way you have another set of eyes and trained underwriters looking at the files, they can pick up something negative that you do not see and save you from implosion.



PS This is dejavu. I entered this forum a few years ago, someone asking the same question, I asked if he was real...2 weeks later he was asking "who is Isaac" ...then " how do you collect when someone doesnt pay"

[WestCoastFunding]

I am interested in funding some of my clients directly. Does anybody know how to set up ACH's, and have contracts? I remember hearing about a company called Colonial who would handle that. Are they still around? Any help would be greatly appreciated.

Colonial is SFS. Do you work with them?

[treymarkel]

I am interested in funding some of my clients directly. Does anybody know how to set up ACH's, and have contracts? I remember hearing about a company called Colonial who would handle that. Are they still around? Any help would be greatly appreciated.

We are just a software company and don't offer underwriting or legal contract services but our software does allow you to fund and service your own portfolio with several different ACH Processors. We have tons of smaller shops that lend their own money and use our platform to monitor and service the portfolio. Quickbooks online integration, auto emails, private label client portal etc.

https://www.centrexsoftware.com/merc...h-advance-crm/

Cheers

Trey

[jcoop]

I want to lend to clients I know that are only getting yellowstone type offers. Is there any ach processing company anybody recommends?

[WestCoastFunding]

I want to lend to clients I know that are only getting yellowstone type offers. Is there any ach processing company anybody recommends?

White label with YSC.

[ryan $]

I want to lend to clients I know that are only getting yellowstone type offers. Is there any ach processing company anybody recommends?

We do 1.49 Short Term. Just Charge a Management Fee. You can SYndicate on Files or Fund your own. We are already set up. No work for you..... you can fund today if you want.

[Karen37a]

Also a syndication platform had its assets seized because of a Funders actions, getting charged with Rico( I don't know if they were partners or not, I didnt look that deep into it )...why play around with someone like this?


Why is the first question not " How much money do you have to participate ?" ...10k? ...take a hike

I do not understand the reasoning ( thats why I think some people do not Fund what they say they fund)..maybe I am missing something

[ridextreme]

not to sound harsh or anything but if you really need to ask these questions, your going to be much better off (and more successful) by working with or syndicating with other funders.

[Enablement Data]

not to sound harsh or anything but if you really need to ask these questions, your going to be much better off (and more successful) by working with or syndicating with other funders.

@ridextreme - I 1000% agree.

@jcoop - It's so much easier and exponentially less hassle for you to get a syndication partnership compared to starting a direct lending venture. Not only is it a pain in the ass with the legal paperwork but also the in depth approval process that goes along with it.

You will save so much of your time syndicating with either a direct lender or an ISO shop (that you trust with your life) which currently have established syndicating agreements in place.

[BB_Cooper]

Agreed, start out syndicating or white labeling. Most of your strong direct funder relationships should be willing to do this for you.

Bottom line, you are likely to save money paying 3% management fee, letting your direct funders handle the middle/back office. Unless you intend to do substantial volume immediately-there's no margin in recreating the wheel-

[Karen37a]

I want to lend to clients I know that are only getting Yellowstone type offers. Is there any ach processing company anybody recommends?

My guess is you guys are wasting your time

#1 because of what ride said

#2 . I memorize everything and I am telling you someone said the same exact words 2 years ago then said " who Isaac" 2 weeks later then "how do you collect on payments" ...

now he is saying "lend" "Yellowstone type offers" not "fund" or "c/d paper"

Its a setup...ill apologize if wrong

[WestCoastFunding]

Karen stop being so difficult.

[Karen37a]

Karen stop being so difficult.

lol

[paulypubco]

I am interested in funding some of my clients directly. Does anybody know how to set up ACH's, and have contracts? I remember hearing about a company called Colonial who would handle that. Are they still around? Any help would be greatly appreciated.

Finding an ach platform and making a contract is easy... what will you do when you have to freeze accounts and go after businesses that dont pay? Syndicate first, get your first default, and then ask yourself again if you really want to be a funder instead of syndicating. Recovery has to be solid in your process.

[ryan $]

Finding an ach platform and making a contract is easy... what will you do when you have to freeze accounts and go after businesses that dont pay? Syndicate first, get your first default, and then ask yourself again if you really want to be a funder instead of syndicating. Recovery has to be solid in your process.

Or you can spread your money out at 5k and less advances - 1.49 40 Payments. If defaults happen, make some calls, blacklist, try to get him back on board - then move on.

When you fund merchants they really only have to make 20 payments - if your worried, broker out a refi, pay yourself off, now hes someone elses problem. and hey if he does default - its a small rate so you just eat it.... its not a 500k default.

IMO this is best model.

[Karen37a]

I think I am messing up advertising

[jcoop]

With all this being said, who do you recommend to syndicate with?

[aredmond]

with all this being said, who do you recommend to syndicate with?

sfs

[ryan $]

sfs

SFS does long term 1st Positions, why have your money tied to a longer payoff, when you can flip it multiple times, at a higher factor - in the same amount of time.

Do you want to give $100 to person #1 who will pay you back $125 in 6 Months to 1 year?

Or

$100 bucks to person #2 who will pay you back $150 in 2 Months, and keep retaking a new $100 every 2 months.

I KNOW WHAT I WANT TO DO

[aredmond]

SFS does long term 1st Positions, why have your money tied to a longer payoff, when you can flip it multiple times, at a higher factor - in the same amount of time.

Do you want to give $100 to person #1 who will pay you back $125 in 6 Months to 1 year?

Or

$100 bucks to person #2 who will pay you back $150 in 2 Months, and keep retaking a new $100 every 2 months.

I KNOW WHAT I WANT TO DO

You are what is wrong with this industry. You are probably the guy that stacks on your first position lender relationships.

[Karen37a]

You are what is wrong with this industry. You are probably the guy that stacks on your first position lender relationships.

When you fund merchants they really only have to make 20 payments - if your worried, broker out a refi, pay yourself off, now hes someone elses problem. and hey if he does default - its a small rate so you just eat it.... its not a 500k default.

My guess is he is a bit ruthless (cut throat for lack of a better word) and real

[Karen37a]

SFS does long term 1st Positions, why have your money tied to a longer payoff, when you can flip it multiple times, at a higher factor - in the same amount of time.

Do you want to give $100 to person #1 who will pay you back $125 in 6 Months to 1 year?

Or

$100 bucks to person #2 who will pay you back $150 in 2 Months, and keep retaking a new $100 every 2 months.

I KNOW WHAT I WANT TO DO

Ryan we had this debate before when we were going to bet.

The answer is . There are some good merchants and they are people with families, some good funders and some good brokers...not just a number or a shell game of money .

We are supposed to have some type of desire to help people not just bankrupt them while squeezing every dollar out of them .

Not everyone thinks that way...so be it

I just met a lawyer like you. Sometimes its best to be fair and not go for the jugular because sometimes with some people you do not know whats coming next.

You have to step back and think..was it worth it

[FCF Fund]

sfs

I have a close friend that was a very large syndicator on the SFS platform with over 7 digits in capital invested. Long story short, he was not very happy with their collections on their A paper deals, stated they dont collect much if anything so hes now a 2nd pos funder.

[Jess]

I have a close friend that was a very large syndicator on the SFS platform with over 7 digits in capital invested. Long story short, he was not very happy with their collections on their A paper deals, stated they dont collect much if anything so hes now a 2nd pos funder.

If SFS has no skin in the game-they don't focus on collections.