[patrickw]

This month went pretty dull so far. 10 deals funded out of my 63 deals max funded - 95K, lowest funded - 6.5K
OnDeck saved this month pretty much like other months.

[Karen37a]

This month went pretty dull so far. 10 deals funded out of my 63 deals max funded - 95K, lowest funded - 6.5K
OnDeck saved this month pretty much like other months.

Thats a very low approval ratio...any reason why? ( without fighting)

[JMB]

Thats a very low approval ratio...any reason why? ( without fighting)

He didnt say they werent approved , he said funded.

[Karen37a]

He didnt say they werent approved , he said funded.

I don't care that much I was just curious...funded ratio/approval/closed

Forget I asked

( i personally watch those numbers to diagnose whats going on to try to conquer it, either thru sales closing strategies, underwriting or marketing...but again...not that important to me)

[patrickw]

Thats a very low approval ratio...any reason why? ( without fighting)

Well to be honest, there were huge declined, out of 63 deals. roughly 17 were approved. I don't keep a huge Lending network. Having pretty bad experiences with Top Lenders. Let's see what happens.


Right now working on selecting right Lenders and signing up with them. I get pretty much 35-60 deals a month. Wish me luck!

[fundingsmbs]

Thats a very low approval ratio...any reason why? ( without fighting)

reason could be tight funders! we have all been there done that with low approvals from certain funders. all I can say is don't give up and find those deals another home. one mans trash could be one mans gold. have had deals declined and funded elsewhere and they paid back as expected and renewed while an account manager for funder who declined said "oh, that deal will go bad" .....you never know, keep trying

[Karen37a]

reason could be tight funders! we have all been there done that with low approvals from certain funders. all I can say is don't give up and find those deals another home. one mans trash could be one mans gold. have had deals declined and funded elsewhere and they paid back as expected and renewed while an account manager for funder who declined said "oh, that deal will go bad" .....you never know, keep trying

I agree.

So either A) ...you sent it to the wrong funder ( wrong paper grade/algorithms/industry for that company)

B) Balances are too High, too many nsfs etc

C ) Discovery of negative information thru underwriting ( many things)

D) Funding allocation has been met ...ran out of money

E) Failed merchant interview

F) Backdoored

G) Lost to ethical competition

So yes ...keep trying but learn as you go to lessen the wasted time, bad paper, negative consequences and hurt feelings



*****Everyone Else can continue to post their monthly numbers ****

[CraaaCraaa Radio]

So if we are talking about month of March 2018 and what funder made a difference and why?

Let's start off with consolidations (reverse) in general?
Premier Capital and Par Funding have some really effective consolidation programs with merchants that have multiple positions.

First Position Funders that made my March 2018¿
OnDeck and Quarterspot and Snap Advance with the 18 month terms. National Funding with the 15 month terms and opportunity for 20 PT upsell, at a 1.15 buy rate. Mckenzie and Strategic came in clutch on a couple of deals.

When a merchant needs a position and needs it quick?
Pearl (Andrew Bendel and A Baron do it like Flash Gordon) Yellowstone (A Dahan and his team and the support is stellar) EBF and Vital Cap also quick on the trigger to fund deals that qualify.

I had some tough deals with industry type and past bankruptcies and Cooper Asset is amazing to simply make it happen!!!

[StipMeBabyOneMoreTime]

National Funding with the 15 month terms and opportunity for 20 PT upsell, at a 1.15 buy rate.

Wow... Never seen an offer like that. Curious as to what that merchant looked like...

[CraaaCraaa Radio]

Wow... Never seen an offer like that. Curious as to what that merchant looked like...

Wow that may be the reason your losing out on alot of funding opportunities.

It may behoove you to reach out to National

[fundingsmbs]

Wow... Never seen an offer like that. Curious as to what that merchant looked like...

bwahahah 1.15 buy rates and 20 point upsells! are people this gullible . so the broker will make more than the funder on each deal without taking any risk? if that business model actually existed the mca would be out of business by end of year. just remember folks, 99% of what you hear is BS and 1% truth. Keep your minds open