[WestCoastFunding]

If you head to the site, you can see that there is no automated sign up. When you sign up you go into a queue that alerts us. We verify some basic data (real business email and phone number, etc.) and pull some more complex data (BBB and other ratings, domain registration date, etc.) to determine if a funder is real and if they are a funder. We also get at least 2 industry references that we know, either brokers/funders already using our platform, or we request it from the Funder.

None of those things will determine if they’re real or not. None. Determining if someone is a funder, a syndicater, or just some guy participating at 10% is hard. And while a broker pretending to be a funder may be outed eventually on DF, relying on DF at all is a mistake. All it takes is one complaint on here that a broker on your platform is pretending to be a funder to, essentially, ruin your company’s reputation. You have to make sure the funder vetting is air-tight.