Results 1 to 25 of 26
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04-18-2018, 12:37 PM #1
Back door deals at an all time high! What a shame!
I have been recently contacted by Lead Brokers over the last 6 months. They dont just have 10 or 15 apps and banking, THEY HAVE THOUSANDS! THATS CRAZY!!!! They are selling dated Applications and Banking Docs from As Recent as 2 months to 36 months. This is a false way of running a business. Its not a sustainable business model. MCA world we have to do better. Learn the skill and art of sales. Don't cheat yourself. - WALLER
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04-18-2018, 12:43 PM #2John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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04-18-2018, 02:39 PM #3
- Join Date
- Jan 2014
- Posts
- 1,375
We had a stranger literally pop into our office with a bookbag about 6 months ago filled with recent applications. He had about 2,000 recent apps was going around from shop to shop selling them for $3 a piece.
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04-18-2018, 03:41 PM #4
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04-18-2018, 03:43 PM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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04-18-2018, 03:51 PM #6Karen37aGuest
Every iso that shut down the brokers had boxes of leads...names and took them somewhere else.
( some don't know how to cold call or close people so I wouldn't worry that much about it)
If they cant backdoor a full "active" application they are lost in space
Wonder whats happening to someone's leads/names now
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04-18-2018, 04:04 PM #7
And not that it needs reminding, but if anyone tries to sell applications, socials, or bank statements on here or through here, please alert us ASAP so that they can be banned.
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04-18-2018, 04:08 PM #8Karen37aGuest
Most don't do it here...they know each other from broker associations/friendships.
And technically smart salespeople are going to get to the same merchants via referral/SEO/yellow pages....it just takes a bit of follow up and skill.
Those sales deals/ files/applications being passed to debt relief is the part you have to worry about
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04-18-2018, 04:10 PM #9
- Join Date
- Jun 2015
- Posts
- 3,325
follow the debanked articles and you will know where they all come from . thank god those companies are fixing things up to put a stop to it and with new technology it is getting easier to protect all
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04-18-2018, 04:10 PM #10Karen37aGuest
ps...waller call me ( ha joking )
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04-18-2018, 04:17 PM #11
- Join Date
- Jan 2014
- Posts
- 1,375
he was literally a stranger young guy walking from shop to shop...no one really knew what was going on until he took them out once boss caught wind kicked him out so fast...but about 15 minutes later friend of mine at another shop texts me if I wanted leads there was a guy that just walked into their shop selling leads i was like jesussss
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04-18-2018, 04:24 PM #12
- Join Date
- Feb 2018
- Posts
- 1,349
everyone flips their deals that's how so many brokers are staying in business. they either stack the deals or flip them before renewals can review them. o.k., maybe "everyone" does not do this but a large % are. it's a crowded space. why do you think capify left the USA and ODC is in Australia pushing loans. Elbow room needed.
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04-18-2018, 04:49 PM #13
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04-18-2018, 05:01 PM #14Karen37aGuest
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04-18-2018, 06:08 PM #15
- Join Date
- Feb 2018
- Posts
- 1,349
if you put a second on someone when the original client was not yours than you stack! stacking is stacking. their agreements all have no stacking clauses so by it not being your client, you have persuaded them to breach their first positon agreement no?
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04-18-2018, 06:37 PM #16
**** brokers.
Nothing chaps my ass along with my entire staff with these ****ing jerkoff brokers. Not like i check their asses but you can tell the way we sit when someone is shaky with their data.
But...believe it or not, we have the equal amount of inbounds to buy leads from companies on other verticals (plus alt. lending) versus random employees from MCA companies in NYC to Minnesota all the way to LA and back that reach out to us to buy their (stolen) data.
I would rather beat my head in with a ball-peen hammer instead of having anxiety selling a company apps that god knows where they came from. I would literally rather have battery acid poured on my private parts than utter the words "I got apps."
**** that and **** them.
You're right to learn the skill of sales...we can generate 30 or 500 leads in one day on our un-branded+branded sites; were still trying to figure out how to control that
...the skill is for us not getting greedy destroying other in-house campaigns with their booger green landing pages and **** colors.
Learn color palates and subliminal reactions on it.
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04-18-2018, 09:34 PM #17Karen37aGuest
I do not "persuade" people to breach first position. I persuade people to do business with me and my company.Or my brokers do.
There is a healthy second vs double dipping I am sure you can scroll back or search for my past sermons on it.
My opinion is 1st position cant lock up the country and people can choose to take a second , like people take a 2nd mortgage and 2 credit cards or car loans. When it becomes abusive its a problems and dont kid yourself...the merchants are doing it with or with out you.
I had asked you once before do you sell cash advances...just out of curiosity. You never replied?Last edited by Karen37a; 04-18-2018 at 09:37 PM.
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04-18-2018, 10:09 PM #18
- Join Date
- Oct 2016
- Posts
- 4,318
Funders suck. Brokers suck. Merchants suck. Aside from them, the rest of the MCA industry is awesome.
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04-19-2018, 01:04 AM #19
When I first started in the industry I worked for a guy who, after I had been working there about 3 months, decided to renovate and redecorate the office. Instead of putting artwork up on the walls, he adorned the office with these tacky large sized photographs emblazoned with quotes from various scumbags like Jordan Belfort, Notorious B. I. G, etc. A lot of the younger kids loved them, but myself and a handful of the more professional reps were horrified and embarrassed.
That guy drives a Bentley.
The problem is that we glorify greed and nobody teaches accountability anymore. It's too easy to make a buck by lying and cheating, and many people think its okay to do that when it's absolutely not ok.
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04-20-2018, 04:29 PM #20
- Join Date
- Jan 2014
- Posts
- 283
He probably stole them...$3.00 each though...nice!
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04-22-2018, 09:55 AM #21Karen37aGuest
or you just wait for the office to shut down and look on craigs list for the furniture sales.Show up on the 30th/31st ...make an offer to take it away for free so they dont have to haul it. Or show up on the 1st talk to the old landlord they will give it to you for free to clear the place.
Just hope they have black ergonomic chairs and sucess is not an accident posters, next time.
( only real reason to regulate...newbies have to have experience and proof, or be an acreddited investor or they have to join an established iso)
I have been preaching the join an iso / brokers broker thing for 3 years now..others said go direct and it is not true. For many many many reasons as we have all witnessed. In the end it protects the Real Funders from Default...underwriting fraud, sometimes stupidity on all end or it slips through a crack, massive stacking, brokers from not getting paid commission and the public from brokers who do nto do the right thing...also funder who do not do the right thing and while labels.
And its massive default...not something simple...my merchants are not going to default without me going down swinging, protecting my funders/partners to get the money back.Last edited by Karen37a; 04-22-2018 at 10:13 AM.
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04-24-2018, 12:54 PM #22
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03-22-2019, 06:11 PM #23
- Join Date
- Jan 2019
- Posts
- 117
Every time I submit a file, I get called by a broker asking if I need working capital for my business.
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03-25-2019, 01:51 PM #24
- Join Date
- Feb 2018
- Posts
- 1,349
^ well, within your list of who you submit to, the culprit lies. if you shotgun deals and waste most of the co's time, they could care less. that's how its gotten out there
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03-26-2019, 05:12 PM #25
- Join Date
- Dec 2017
- Posts
- 5
I totally agree! This industry is being threatened by the very people you described.
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