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  1. #51
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    Quote Originally Posted by cynthia View Post
    Richard, this is old but since I noticed it now how has your experience with GB been now? Isnt it true you are friends with Tejada before he started at GB?? he was awful, a fill in that couldnt measure up imo. And tetelbaum was ridiculously bad, in all ways from beginning to end. i dont submit there anymore cause of him.
    Cynthia, could you elaborate on why each ISO rep was ridiculously bad? You're comment is ambiguous.

    I could say you are the worst ISO to work with but with no example of a situation to support my theory as to why I feel that way it just looks like Im just complaining with no basis. Why was each rep so bad?

    I make my judgements based on ISO rep performance based on; do they communicate well, do they get me responses, do they call / email responses in a timely manner, explain UW guidelines etc. I dont blame my ISO reps for bad offers, thats not their job and I dont blame them on UW decisions I blame mgt for poor UW policies etc.

  2. #52
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    Quote Originally Posted by FCF Fund View Post
    Cynthia, could you elaborate on why each ISO rep was ridiculously bad? You're comment is ambiguous.

    I could say you are the worst ISO to work with but with no example of a situation to support my theory as to why I feel that way it just looks like Im just complaining with no basis. Why was each rep so bad?

    I make my judgements based on ISO rep performance based on; do they communicate well, do they get me responses, do they call / email responses in a timely manner, explain UW guidelines etc. I dont blame my ISO reps for bad offers, thats not their job and I dont blame them on UW decisions I blame mgt for poor UW policies etc.
    I cant elaborate on what issues she had but I will say this about GB. They claim to have all this technology to make submissions and UW easier, no human contact etc. Yet it rarely works. Mistakes are made at every step of the way. Last time i submitted a deal, i was getting 7 emails from "the box." All emails said the same thing. Then the UW is riddled with issues. Face it, you need eyes on these deals. "The Box" rarely works like they tout.
    I put my contact info in here, and
    was bombarded with spam from funders
    if you need to reach me PM me

  3. #53
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    Quote Originally Posted by skideeppow View Post
    I cant elaborate on what issues she had but I will say this about GB. They claim to have all this technology to make submissions and UW easier, no human contact etc. Yet it rarely works. Mistakes are made at every step of the way. Last time i submitted a deal, i was getting 7 emails from "the box." All emails said the same thing. Then the UW is riddled with issues. Face it, you need eyes on these deals. "The Box" rarely works like they tout.
    Their UW is tighter than a bullfrogs ass thats for sure, new tech always has bugs to resolve and it sucks when there is a bug on your deal. I agree eyes always need to be on every deal. Good ppl at company I can always speak to someone just weak processes.

  4. #54
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    Blaming the ISO reps for not funding deals is moronic, it'd be like if you got fired from a job then blamed the lowest level, secretary or employee who happened to also work there

  5. #55
    Senior Member Reputation points: 17775 cynthia's Avatar
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    Quote Originally Posted by FCF Fund View Post
    Cynthia, could you elaborate on why each ISO rep was ridiculously bad? You're comment is ambiguous.

    I could say you are the worst ISO to work with but with no example of a situation to support my theory as to why I feel that way it just looks like Im just complaining with no basis. Why was each rep so bad?

    I make my judgements based on ISO rep performance based on; do they communicate well, do they get me responses, do they call / email responses in a timely manner, explain UW guidelines etc. I dont blame my ISO reps for bad offers, thats not their job and I dont blame them on UW decisions I blame mgt for poor UW policies etc.
    Just to put this to rest, i dont need to go into detail cause its a waste of time. i will say this, i know what a good reps role and service should be and dont blame an iso rep for poor offers or closed deals, but they can also influence both those areas as well as the whole process. now, back to work.

  6. #56
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    Quote Originally Posted by cynthia View Post
    Just to put this to rest, i dont need to go into detail cause its a waste of time. i will say this, i know what a good reps role and service should be and dont blame an iso rep for poor offers or closed deals, but they can also influence both those areas as well as the whole process. now, back to work.
    do you blame the hostess on your way out the door when the meal sucks ?

  7. #57
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    ISO reps get too much credit or too much blame.

    Greenbox is a very successful funding company that can waste as much money on as many processors and middle managers as they see fit!

    These folks have nothing to do with YOUR ability to fund.

  8. #58
    Senior Member Reputation points: 17775 cynthia's Avatar
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    Quote Originally Posted by Don Dolla View Post
    do you blame the hostess on your way out the door when the meal sucks ?
    Im not sure you understood what I said, but to clarify, the ISO rep or mgr has a role, that role has an effect on the outcome of deals in several ways. If not, then whats the purpose, just customer service? no, its negotiation, its responsiveness, its selling, its being creative, and mostly its fighting for your deals. A good hostess or waiter can solve problems that were caused by the cooks. enjoy your meal...

  9. #59
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    i will agree there is nothing worse than a piss ant iso rep (in general not directed at anyone) that makes the experience suck submitting to a funder. especially when they have a few months max under their belt in the industry and have no F clue what they are talking about. if a waiter/svc sucks, i don't go back to that restaurant. it has an impact
    Last edited by fundingsmbs; 10-12-2018 at 05:41 PM.

  10. #60
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    iso reps are just sales people. you see there's two types of people in this world sellers and buyers. you either buying or your selling. you got sold ! they pitched some BS and you bought it instead of properly reading the underwriting criteria and brokering the deal accordingly.

    iso reps have nothing to do with approvals or negotiations, that comes down to pure numbers and ownership. the iso rep is a myth. a mirage. a reminder to send your deals. don't get sold. sell

  11. #61
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    Quote Originally Posted by Don Dolla View Post
    iso reps have nothing to do with approvals or negotiations, that comes down to pure numbers and ownership. the iso rep is a myth. a mirage.
    From a guy who just moments ago wanted to see more stories about ISO reps that sell 45mm or whatever. Which is it? You must realize that many ISO reps are crucial to approvals and negotiations. Find good ones, even if they are young.

  12. #62
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    Juan is a funder not iso rep but ty

  13. #63
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    I’m not going to explain how Yellowstone works, people pay for that. As far as the old thread re: I shut it down with my last comment end of story

  14. #64
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    Quote Originally Posted by Don Dolla View Post
    Juan is a funder not iso rep but ty
    Are you referring to YSC’s Juan?

  15. #65
    Senior Member Reputation points: 17775 cynthia's Avatar
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    Quote Originally Posted by Don Dolla View Post
    I’m not going to explain how Yellowstone works, people pay for that. As far as the old thread re: I shut it down with my last comment end of story
    Don have you ever been an ISO rep?? They have plenty to do with selling the merchants file to underwriters and negotiating within the lender to get offers that brokers can sell, and to catch things that can be overcome within that lenders funding process. Yes they sell, and thats in ways to help deals get done not just to get submissions. a myth is how you view things, not how it actually works.

  16. #66
    Karen37a
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    Quote Originally Posted by cynthia View Post
    Don have you ever been an ISO rep?? They have plenty to do with selling the merchants file to underwriters and negotiating within the lender to get offers that brokers can sell, and to catch things that can be overcome within that lenders funding process. Yes they sell, and thats in ways to help deals get done not just to get submissions. a myth is how you view things, not how it actually works.
    What hdf said and this is true


    Also, certain reps or Isos put their own money into the deals ( syndication)

    So another myth is that if a broker who is new sends in a deal to someone everyone is diving over like the reco scene in the movie boiler room to fund it.

    If an experienced broker/iso brings the file in and did additional underwriting an screening before they sent it in, they feel safer funding the deal or putting money in. They also will eventually judge you based on your past results...default ratios etc. ( they are putting money into the deals). Which is also why i keep a low low default ratio ( 4 -5 total )and have a high renewal ratios. over 90 %, 100% with some.

    Also if there is a deal that is 100k and I put 50k of my own money into it along with the funder, it would make sense that I would not add my money into a deal if I thought it was going to default.

    Its also good to have a "friendly" working relationship with someone. as an example...I would feel really really bad if a few funders that trusted me funded a deal for me, then merchant defaults with their money right after funding..(.i do take it personally and 30 years later I do not think I will change) . Which is why I won't take certain deals in or brokers/isos.
    __

    Also certain Isos like myself chose funders that I could syndicate with in the future ( only one or 2 mostly like would not).

    Some people entered the business on the bottom like Undercover boss to find out who is who and what is what before they bring 20-30 million in of investors money and get arrested for breach of fiduciary duty for giving the money to the wrong company or on the wrong deals.

    I am in Florida. Imagine if I gave money to 1st global.

    One good thing. Hedge funds/ Investors were watching these boards for years.( which I have been saying over and over..plus regulators) Some of my best friends in real life. They didn't know that I was as good in sales personally or underwriting or compliance ( we are friends they never really saw the inside workings of it all)...they really got a chance to experience a salespersons life and Iso and underwriter. So for that, I thank some of you. They trust me and my unilateral decisions more.
    __

    That being said. Con artists stay away from me,I am going to go thru your file like a fine tooth comb in lighting speed and deny the con job ones...do not send anything to me I do not want to do business with you. Stop calling and emailing as well.
    __

    ps Cynthia seems to know her stuff I can bet that girl is a strong closer or more


    PSS If not for massive drama...I would have continued to be karen...the girl who is laughing at west coasts sarcastic jokes...actually I would have worked for someone getting 4-5 points and just went home at the end of the day ( now I need 100k sign on bouns, shares of potential stock non dilutable, bonus on production and back-end termination package or lifetime residuals)
    Last edited by Karen37a; 10-13-2018 at 08:57 AM.

  17. #67
    Quote Originally Posted by Don Dolla View Post
    iso reps are just sales people. you see there's two types of people in this world sellers and buyers. you either buying or your selling. you got sold ! they pitched some BS and you bought it instead of properly reading the underwriting criteria and brokering the deal accordingly.

    iso reps have nothing to do with approvals or negotiations, that comes down to pure numbers and ownership. the iso rep is a myth. a mirage. a reminder to send your deals. don't get sold. sell
    Have to disagree here bud at least when it comes to Yellowstone ISO reps. Can't speak for other companies though.
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

  18. #68
    Karen37a
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    Quote Originally Posted by Anthony@yellowstone View Post
    Have to disagree here bud at least when it comes to Yellowstone ISO reps. Can't speak for other companies though.
    ha

    Me saying "Anthony help me"

    the 200k one will be in by next Friday...balances, they are cheap ( he sent me spreadsheets and graphs to the penny and said his arse is tight ) and want the deal to be Xyz...it fits on friday

  19. #69
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    there are iso reps that are helpful in getting things done and ones that the whole job is just to complain about amount of business you sending and closing ratios and blah blah blah .

  20. #70
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    Quote Originally Posted by Don Dolla View Post
    iso reps are just sales people. you see there's two types of people in this world sellers and buyers. you either buying or your selling. you got sold ! they pitched some BS and you bought it instead of properly reading the underwriting criteria and brokering the deal accordingly.

    iso reps have nothing to do with approvals or negotiations, that comes down to pure numbers and ownership. the iso rep is a myth. a mirage. a reminder to send your deals. don't get sold. sell
    This couldn't be farther from the truth. An ISO rep who does his or her job correctly has EVERYTHING to do with the approval that gets put on the table.
    Thank you,

    Lior Monus
    Business Development Manager
    CFG Merchant Solutions


    Direct: (646) 880-6764
    Cell: (516) 319-5826
    Fax: (646) 278-7322
    Lmonus@cfgms.com
    180 Maiden Lane New York, NY 10038

    www.cfgmerchantsolutions.com

  21. #71
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    Three months later and these guys continue to amaze me at how bad they are. I am venting here, but i rarely see incompetence like i do at Greenbox.

    I always say I will never send something there way again, but i just forget how bad the experience is.
    I put my contact info in here, and
    was bombarded with spam from funders
    if you need to reach me PM me

  22. #72
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    Quote Originally Posted by skideeppow View Post
    Three months later and these guys continue to amaze me at how bad they are. I am venting here, but i rarely see incompetence like i do at Greenbox.

    I always say I will never send something there way again, but i just forget how bad the experience is.
    what happened? I have a love hate relationship with them

  23. #73
    Senior Member Reputation points: 51397 DTFdowntofund's Avatar
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    Quote Originally Posted by Lmonus View Post
    This couldn't be farther from the truth. An ISO rep who does his or her job correctly has EVERYTHING to do with the approval that gets put on the table.
    I've been an ISO rep for years, and I can tell you that this is partially true. Few years ago I had 407 ISOs and managed them all by myself, until eventually I got a few assistants. They would handle the lower level partners / ones who would sporadically submit etc. and I would handle the better ones personally. Understanding this process is understanding that if you cherry pick a few funding houses in each tier, you'll be better off. Build a relationship with the rep there, and it's true.. in this industry and others "people do business with people they like". & here is no different. If you're signed on with 70 lenders, and send paper infrequently to all of them, you are not prioritized. I hate to say it, but I will give attention and priority 100% of the time to people I've done biz with for years / make money with. We'll do our due dilligence for all, but at the end of the day, having the relationship does afford you an edge.

    With that being said.. what I have come to find is having ISOs understand things from a funding aspect, and vice versa. I had a relationship with a shop I signed in 2014, great guys, funny as hell.. they came to visit me numerous times. Long story short, they had a 400k deal with me, and I pulled out all the stops of em'.. but at the time of funding, they were -47k in the bank when I pulled DL. NOTHING I could do, and yet the owner was so furious with me, he got on the phone, started screaming how he "knew we would do this, we are total bull**** /can't be trusted etc". Even threatened to get on a plane and come kill us lol. You eventually he did just that. It was pretty comical when he arrived, he was a good 6" shorter than me in heels, and 8" shorter than my boss and I almost wanted to pat him on the head when we were introduced. He was all bark and no bite. But nevertheless, I was being blamed for being a bad ISO relations manager, which I was not. It's a marriage of understanding what can be done vs things that cannot be manipulated. I have always tried to bridge the gap with understanding, but bottom line is I also get how much it sucks when you're on the retail end and your deal doesn't fund after all the work you put in. & at the end of the day, I respect that, and I let my guys vent as much as they want. It's a frustrating sucky situation. But being able to determine the difference between your rep sucking vs circumstances on the funding company / merchant, are where the real enlightenment comes from.

  24. #74
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    are you one of the fired green box iso reps they seem to only have a 6 month shelf life

  25. #75
    Senior Member Reputation points: 51397 DTFdowntofund's Avatar
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    Quote Originally Posted by Michael I View Post
    are you one of the fired green box iso reps they seem to only have a 6 month shelf life
    Lol they wish. Greenbox isn't important enough to even talk about, I was merely making a generalized comment on the topic.

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