[capaxess]

Ugh, this getting old! Just lost another deal to Swift $100K 12 months (weekly $2211). Ouch.

Should I be signing up with these folks? Has anyone done deals with them?

[ryan $]

You cant sign up with Swift, they dont do ISO Business.

They are extremely annoying. You can compete by getting them into Monthly Payments. And just higher dollar amount Approval.

[JMB]

Dont think they take on brokers plus they got bought out by paypal last year so your not going to beat them regularly

[JMB]

You cant sign up with Swift, they dont do ISO Business.

They are extremely annoying. You can compete by getting them into Monthly Payments. And just higher dollar amount Approval.

this

[abfunders]

Or go the more traditional route..... Ryan, you know what I mean.
If they're getting $100k from Swift, then they're probably doing over $1mm/year. There are plenty of banks that can do this. Why settle for selling an MCA when you can re-finance all of the debt?

[Karen37a]

Ugh, this getting old! Just lost another deal to Swift $100K 12 months (weekly $2211). Ouch.

Should I be signing up with these folks? Has anyone done deals with them?

Ive explained that certain funders are doing things to capture market share

Some things ethical ..some unethical

Some are going so far as to let people stop payments so they look like a credit risk to others

Certain Funders are not your friend and will never be your friend...i loved watching certain brokers suck up to them as they got their books taken away.

Now the lines have been drawn in the sand..sink or swim

[Karen37a]

You cant sign up with Swift, they dont do ISO Business.

They are extremely annoying. You can compete by getting them into Monthly Payments. And just higher dollar amount Approval.

They wont last at those low rates...and people are going to stack etc

The battle will be over the processing ...no screwdrivers allowed


( other ways to get merchants pulled in-house...savvy brokers will never spill the beans to ungrateful lunatics on this board and competition)

[patrickw]

$6,128 interest for 12 months :O :O

[Karen37a]

$6,128 interest for 12 months :O :O

What does this even mean? Is this another Obama reference? LOL....
" hi i am calling about the obama mummifaction plan..i know I had a mortgage with countryside, that got sold to boa then sold to xx then to xx then to xxx then to xxx then to xx then to xxx then to xx then to xxx then to xxxx and some how I am back with obama an country side...so how do i get out of payin this mortgage, i heard it was for free"

[patrickw]

What does this even mean? Is this another Obama reference? LOL....
" hi i am calling about the obama mummifaction plan..i know I had a mortgage with countryside, that got sold to boa then sold to xx then to xx then to xxx then to xxx then to xx then to xxx then to xx then to xxx then to xxxx and some how I am back with obama an country side...so how do i get out of payin this mortgage, i heard it was for free"

what I meant was, swift funded with 1.06 factor only :O

[Chambo]

they put it out at the buy rate. No broker commission to pay

[Karen37a]

And I have heard of some people selling a bar/ restaurants but going to Costco to buy the liquor with cash unaccounted for out of their pocket, then having 3 for 1 drinks to pack the bar/resturant and pull in tons of profit ( not true profit) then some sucker buys the bar and sees the true cost of the liquor , and the crowds go away because you cant have 3 for 1 drinks daily and stay alive ...then he folds.

( people have to know the true cost of money,not the story they are being sold)

So what does that have to do with anything?

[Karen37a]

I am not going to keep debating the same thing over and over and this fantasy of these low rates.

Just pick up a calculator and figure it out

[WestCoastFunding]

I am not going to keep debating the same thing over and over

Fact check: false

[Karen37a]

Fact check: false

lol

Well some sure do not understand whats going on around them.....hard to watch people being led to their death constantly.


" don't listen to Karen ...she is just jealous of you...go forward...a bit more a bit more ...puusshhhhhhhh...aaaahhhhhhhhhhhh, tumble tumble splat.....next up....dont listen to karen she had a dui......splat lol"

[fundingsmbs]

paypal reported over $13Billion in annual revs last year. funding using the swift brand is a toy poodle for them.

https://debanked.com/2017/10/update-...ital-for-183m/

[Karen37a]

paypal reported over $13Billion in annual revs last year. funding using the swift brand is a toy poodle for them.

https://debanked.com/2017/10/update-...ital-for-183m/

I agree

That's why I've always said the MCA in its totality is a toy poodle for $$$$$ its a blip on the radar...more money is moving per day is 5,100,000,000,000. That’s trillion with a “T" , more money than most of the industry since inception

So people acting like anything they say or do "moves markets" on message boards is insanity.

And someone knowing how to say vertical and the difference between 1.20 vs 1.40 and how to construct a "funding network" is also laugable...who cares.


We are brokers and salespeople and here to fund deals, with iso friendly companies and block defaults etc etc...not make people rich who planned on screwing you over from the day they met you.

The people who are putting out the money for deals...need to get it back plus a profit...or why is anyone doing this? Broker/Isos.....need to make a profit, same thing.

What you put in...you get out...skipping over the hard work, shortcutting it is not a plan that works long term.

[Lthomason]

Ugh, this getting old! Just lost another deal to Swift $100K 12 months (weekly $2211). Ouch.

Should I be signing up with these folks? Has anyone done deals with them?

Their pricing is very often unbeatable. Good luck!

[abfunders]

$6,128 interest for 12 months :O :O

That's 28% APR.
Get him them a term loan with 10-year amortization at 7.5% and if they are factorable, a credit line.

[fundingsmbs]

it will continue to get harder for brokers to fund A paper deals unless you have a relationship with the merchant already providing other services and can come in relatively similar in costs for funds which will reduce commissions significantly. The broker may be better positioned to handle A- down paper as these companies keep pumping marketing and direct sales as their strategies. There will always be deals that A paper funders will pass on that are still good deals for others.

[Karen37a]

it will continue to get harder for brokers to fund A paper deals unless you have a relationship with the merchant already providing other services and can come in relatively similar in costs for funds which will reduce commissions significantly. The broker may be better positioned to handle A- down paper as these companies keep pumping marketing and direct sales as their strategies. There will always be deals that A paper funders will pass on that are still good deals for others.

Which is why i strategically moved away from almost all A paper...and alligned with a minus, b-d and private money a few years ago ( and only iso friendly companies)

[capaxess]

Or go the more traditional route..... Ryan, you know what I mean.
If they're getting $100k from Swift, then they're probably doing over $1mm/year. There are plenty of banks that can do this. Why settle for selling an MCA when you can re-finance all of the debt?

You know, that's exactly what I was doing. The client expressly told me he didn't want mca or daily (even weekly) payments because they're revenue comes 3 times a month. So I spin my wheels getting docs for a conventional term loan (729 fico and 2.2 million annual sales) only to have him announce he just did a 12 month deal with Swift for 100K, weekly $2211 and, oh by the way he already had another kick-ass deal on the table for a 2nd for 75K (12 month term, daily payment $333, total payback $86,813) and could I match it....right now. I feel foolish now but I was trying to do it the right way.

[Karen37a]

Some will never ever learn..and they are at the mercy of their own ego and someone who can pull their strings to make them feel "special" to turn in deals.

I've never seen so many people sell the bull **** dream to each other ...one after another up the line until the fool at the top gives his company away for fake stock..or the title "CEO" to have it YANKED back

It is a horror show

[WestCoastFunding]

You know, that's exactly what I was doing. The client expressly told me he didn't want mca or daily (even weekly) payments because they're revenue comes 3 times a month. So I spin my wheels getting docs for a conventional term loan (729 fico and 2.2 million annual sales) only to have him announce he just did a 12 month deal with Swift for 100K, weekly $2211 and, oh by the way he already had another kick-ass deal on the table for a 2nd for 75K (12 month term, daily payment $333, total payback $86,813) and could I match it....right now. I feel foolish now but I was trying to do it the right way.

Cover your ass and work multiple angles. They want a conventional loan, and are fine with the slow due diligence process — right up until the moment they cal saying “I need $100,000 by tomorrow!!!” Have those 1st position offers on standby, and plant the seed.

“John, I’ve submitted all the paperwork to the SBA lender, and we’ve just got to wait a few days for the next step. Just to let you know, I also have $100,000 working capital ready to go should you need it. Getting the SBA should be the main focus, tho. Just wanted to let you know the other approval because, ethically, it’s important for me to present all offers”

[Karen37a]

Magic close one deleted