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  1. #76
    Senior Member Reputation points: 76187
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    Quote Originally Posted by DTFdowntofund View Post
    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.
    Who were you an ISO rep for?

  2. #77
    Senior Member Reputation points: 47257
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    Quote Originally Posted by pcfunder View Post
    what happened? I have a love hate relationship with them
    Where do i start? The comedy of errors in just unreal
    I put my contact info in here, and
    was bombarded with spam from funders
    if you need to reach me PM me

  3. #78
    Senior Member Reputation points: 76187
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    Quote Originally Posted by skideeppow View Post
    Where do i start? The comedy of errors in just unreal
    If possible, start at the end and then circle around to the beginning and try to have some really important meaningful lesson in the middle

  4. #79
    Senior Member Reputation points: 23085
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    598

    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
    The shelf life is 50/50 due to being between poor performing reps and process / product that good reps know are noncompetitive. Its amazing to me that they are still in business for years, they must be doing something right if its not pissing off ISO's lol

    Ill only do CAN deals there (less Stips), they are also cheaper on auto dealers if 1st position (max 6 month terms)

  5. #80
    Greenbox is Yellowstone
    Adam Ward
    911 Ave U
    Brooklyn NY 11235
    adam@Funding-Zone
    347-269-1598

  6. #81
    Senior Member Reputation points: 301165
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    Quote Originally Posted by AllDayMoney View Post
    Greenbox is Yellowstone
    not at all dont confuse the different greens .

  7. #82
    Senior Member Reputation points: 301165
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    Quote Originally Posted by FCF Fund View Post
    The shelf life is 50/50 due to being between poor performing reps and process / product that good reps know are noncompetitive. Its amazing to me that they are still in business for years, they must be doing something right if its not pissing off ISO's lol

    Ill only do CAN deals there (less Stips), they are also cheaper on auto dealers if 1st position (max 6 month terms)
    yup they find ways of cutting people out of renewals so they can survive with out iso

  8. #83
    watch out for greenbox! They state on their contracts under 7 - additional terms note F - Termination Fee. A fee of 3% of the Purchased Amount will be charged at the culmination of
    every purchase of Future Receivables in the event the Purchased Amount is not satisfied via a Greenbox renewal. (this means that unless a merchant renews with greenbox then they are allowed to charge 3% on principal. Besides for them being robots and slow as snails they have the audacity to put this in their contracts. Beware of these funders!

  9. #84
    Senior Member Reputation points: 301165
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    Quote Originally Posted by davedamoneyman View Post
    watch out for greenbox! They state on their contracts under 7 - additional terms note F - Termination Fee. A fee of 3% of the Purchased Amount will be charged at the culmination of
    every purchase of Future Receivables in the event the Purchased Amount is not satisfied via a Greenbox renewal. (this means that unless a merchant renews with greenbox then they are allowed to charge 3% on principal. Besides for them being robots and slow as snails they have the audacity to put this in their contracts. Beware of these funders!
    old news . next you are going to talk about their personal guaranty iso need to sign or the reprices on deals or the going over metrics all day or the different tiers and cutting people off or the new iso reps every couple of months . and hey did you know they in florida

  10. #85
    Banned Reputation points: 687
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    Dec 2016
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    49

    greenbox sucks

  11. #86
    Quote Originally Posted by MidnightAdvance View Post
    Wow, what a nice post.
    AGREED. Greenbox is a Joke. Unprofessional and incompetent. I can't believe they are still in business. Stay away if you can.

  12. #87
    Greenbox is Garbage. They treat ISO's like ****s, their reps and processes are weak for pretending to be Tech-Masters. They are good at killing renewal opportunity. So many funders who know what they are doing, why these guys are still in business receiving subs is beyond me.

  13. #88
    Senior Member Reputation points: 32977
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    Greenbox is still in business because of you bozo's that submitted files and eventually lost your renewal's to them.

  14. #89
    Quote Originally Posted by pcfunder View Post
    Who were you an ISO rep for?

    Hey its Georgiana "Kristen" from WGF! Still in the industry I see
    Last edited by FundedBROTHA; 01-10-2020 at 10:25 AM.

  15. #90
    I would love to have the opportunity to review and fund your deals. Below is what we offer. As far as an ISO Rep I can guarantee you will enjoy working with me 100% as I have been in the industry for quite sometime and know the ins and outs of deals. I work VERY close with my team/underwriters and not only can we get your deals done, we work Very Fast. Below is what we do. Feel free to reach out. My cell is 845-494-4898. Respectfully, Greg B.

    • We will fund 1st position loans but look to fund in 2nd, 3rd and 4th position (3 to 10 month offers)
    • Commissions up to 18 POINTS / We pay full commission on renewals / Commissions paid NEXT DAY
    • Most AGGRESSIVE pre-pays offered
    • No restricted industries except Adult Clubs / No landlord verification's
    • Your reps ALWAYS work your deals. We DO NOT have an in-house sales division that works your deals or renews them. We let you know when your merchants are up for renewal and you work your deal!
    • We fund in CA
    • We can provide a weekly payment option if merchant qualifies
    • NO COJ REQUIRED
    • NO UCC FILED
    • NO HARD CREDIT PULLS!!
    • Stips are MINIMAL
    • HARD UNDERWRITING IS DONE UPFRONT WE DO NOT GIVE SOFT OFFERS (Your deal won’t die after the contracts are signed unless the decision logic comes back bad or the merchant kills the deal themselves in the interview)
    • TURNAROUND TIME under 2hrs for approvals. FUNDING TIME within 4 hours once all stipulations are met. WE ARE FAST.


    Respectfully,
    Greg B.
    Senior Business Development Manager
    845-494-4898
    isosupport@byzfunder.com

    www.byzfunder.com

  16. #91
    Senior Member Reputation points: 54975
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    Last edited by mcaguru; 01-10-2020 at 11:06 AM.
    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

  17. #92
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    Is Greenbox still doing the WBL-type deals?

  18. #93
    Senior Member Reputation points: 32977
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    Quote Originally Posted by DTFdowntofund View Post
    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.
    Hey Georgiana!

  19. #94
    Shane
    Guest
    Quote Originally Posted by skideeppow View Post
    yes i liked shane as well
    Thanks Skideeppow!! Been at SOS for awhile. Will message you

  20. #95
    Senior Member Reputation points: 11887 KINGCASH's Avatar
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    EVERYTHING GETS KILLED..EVERYTHING!! They have no idea what's flying over there. Oh! and the best- those 7 am reminder notifications for every deal EVER submitted.

    I can go on..

  21. #96
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    These guys are the absolute worst, just the worst. Everytime I send something over its the same complete **** show. 1 hour call to get the bank login because dec logic did not work.

    Another hour call to go over UCC's from 10 years ago. Then new contracts have to go out, then another funding call.

    At this point the merchant is so frustrated they are just going to bail on the entire deal.
    I put my contact info in here, and
    was bombarded with spam from funders
    if you need to reach me PM me

  22. #97
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    holy **** why do i keep sending deals here. I get an email killing the deal. Then an hour later i get a call from the underwriting dept saying i need to send them the pq and 4 months banks.

    I am like, wtf, you already killed the deal. Then i get an emial asking for the same thing.

    Do they realize how awful they are to deal with.
    I put my contact info in here, and
    was bombarded with spam from funders
    if you need to reach me PM me

  23. #98
    Senior Member Reputation points: 18943
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    cut them off over a year ago and doing just fine

  24. #99
    They will take forever to underwrite a file and usually kill it on the back end. Make sure your merchants have their stips ready and they are ready to do the BV link, the moment the file stalls Greenbox will find a reason to not fund the loan. Just a warning.

  25. #100
    Been a follower of of dailyfunder for several years now, in the industry for 7 years working as a sales manager for a few years now out of ISO shop in SOCAL. This is also my first post to any forum. I can't speak to using Greenbox pre-covid (rarely used them)....but post-covid they have been great to work with. Thought I'd drop by this thread and give some love to Greenbox as they have been one of our primary Tier 2 partners along with Everest and Forward. Like others have mentioned, the relationship goes 2 ways. They, like others treat ISO's according to the paper being submitting, number of submissions, ease to work with, funded units and default rates.

    Things I love about them.

    - Quick turnaround times
    - Easy portal
    - Max upsell up to 15
    - Ability to generate contracts with weekly payment, add additional .5 month, pre-pay, pick day of debit in portal
    - Minimal stips on most files
    - Will fund 1st position loans w/o payoff letter and hold approximation in escrow to be paid off once actual payoff letter received after already funding the DEAL. They will then release remaining amount to merchant if payoff is lower than calculated. This is HUUUUGE.
    - Always waive closing stips for us and can fund most deals under 50K with signed contracts and BV similar to Everest (Difference is Greenbox has been offering higher dollar amounts and has weekly options for qualified clients)
    - No backdoor issues
    - Will fund sub 500 credit

    Things I don't care for.

    - You rarely can get someone on the phone as everything done through portal. (This can be good to be able to track all correspondence but NOT GOOD when you need to wheel and deal with account rep to get a deal done in a competitive situation)

    Just my two cents. We have worked with well over 50 different funders in this space and are always looking to build on a few relationships rather than several. Less is more.

    PRIMARY TIER 2 LIST WE USE IN NO PARTICULAR ORDER:
    -Forward
    -Everest
    -Greenbox
    -Kalamata PRIME for larger deals
    Last edited by bcallahan007; 09-18-2020 at 02:46 PM.

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