[MCNetwork]

Lol I guess the merchant is also the competing broker because the offer included the buy rate.

[CrouchingIsoHiddenFunder]

The whole thing here is I was told it was declined and the client received a contract which was fulfilled to my understanding on that same day. I can't post the content of our phone calls here which would spell out the situation far more clearly.

That said this is devolving into he said she said and has become a total waste of everyone's time.
They've lost my business I thought it only proper to warn the rest of you, take it or leave it.

[JMB]

The whole thing here is I was told it was declined and the client received a contract which was fulfilled to my understanding on that same day. I can't post the content of our phone calls here which would spell out the situation far more clearly.

That said this is devolving into he said she said and has become a total waste of everyone's time.
They've lost my business I thought it only proper to warn the rest of you, take it or leave it.

So can u post the contract? Cause thats really the only proof needed not really the phone calls.

[DonMcGrath]

Lol I guess the merchant is also the competing broker because the offer included the buy rate.

If a merchant is working with multiple brokers, it’s easy to get simultaneous declines and approvals, ie. from different companies.

I’ve also seen in large companies where the same submission was entered twice, but spelled differently just by a letter, and both get underwritten by different underwriters, and one is approval and one is declined, from same company.

I’ve seen too where two brokers each got the same offer from the same company for the same deal, and it was first to close it, got paid.

And I’ve seen where one broker was able to push a deal through with a company that another broker with the same deal was not, because first broker either submits many more deals, coupled with a better approval ratio, and/or better funding ratio, combined with previous working history, vs a new unproven iso.


At www.dumbleads.com, you see less of this because once a merchant is referred to you, (for better or for worse) they don’t want to talk to anyone else. Just you, you and you.

Heaven help you if your assistant tries to call without announcing who they are. Full charge sonic boom right in the ear from the receiver piece hitting the base.

[fromano590]

I funded a 336k deal with Anna, they bent over backwards to get it done. The merchant got their funds, we all made money and the check cleared. What more do you need to know?

[SCFunding]

Steve was very helpful with a big deal we did recently, it was reduced in half at funding, but Steve stepped in and helped everyone win, and the deal funded, and commission the next day. I like Fundkite and will be continuing to use them. I have had deals come back declined, then 20 mins later approved, things happen. F5 must have slow deal flow to go that ballistic on a decline, guess they are hard up for money so they melt down over declines.

[Karen37a]

We can not guess what happened because he isn't saying how do you know it was backdoored? The merchant said he got an offer? Did he take the offer? Or was he just called and denied? Was it a merchant call final underwriting then denied? Or flat out denied then called around your back? ......has the file funded? That's the main point...When did it fund? Do you have proof that it funded? Not just emails of offers.

Search the Ucc see if one is added...wait until the merchant wants more money and you will see who is pulling. Some merchants are nasty things themselves so they will usually rat out the person once they have the money and don't "feel" like paying it back or decide they do not want renewals anymore or can get a better offer somewhere else.

That being said ... no one can use the "multiple brokers sent the file in" excuse anymore because it doesn't really prove anything. Even if it was true, which 50% of the time it is not...that is now a built-in excuse to use for all files going forwards whether it's true or not.

The excuse has been used to not pay anyone.

The Truth lies with the merchant. The way that I know someone actually backdoored me or one of my isos is the merchant says it and sends email to me or tells me about the conversations. When the conversations have detailed information that the merchant wouldn't have access to. I know what happened.

Also, blanket denial reasons are disrespectful and a sign of keeping someone out of the loop or wanting to accumulate applications for further use.

last note...fundkite did give an articulate response. And you guys shouldn't care if someone is calling someone racial names..get used to it, I've been called big nose jew the N-word, a nasty word about Spanish people, Indian people, Mexican, slu* , cun*, etc etc..i am the united nations and a prostitute. Women had to get tough skin in this business ( financial services)...so toughen up. The race card can be pulled all the time as well...true or not.

[Karen37a]

I denied a merchant once because I picked up on their con-artist ways...they wound up getting stacked 7 wide.

They had the nerve to call me about 3 weeks later saying .."ok I stopped paying 6 of the cash advances so whats next"

I stayed calm, giggled a bit, then got the trail of funding. Then cursed them out and told them if they call me again ill make sure they get arrested for theft by deception or fraud and the broker "fraud in the inducement" or Fraud in factum"

Then I fired the broker...called the other iso/funder and cursed them out too.

100th time saying this ...merchants who allow themselves to get backdoored and play this cat and mouse game have a high propensity to default.

ALL the deals I denied from certain isos and brokers ...and I really mean ALL...defaulted. Looking back 3 years on all the bad paper it has to be 5-7 million ( thats just the ones funded after i denied)

[ElitheMoneyGuy]

We submit and work with Steve at Fundkite. Stand up guy. They will work with us to get a good deal done.

[Fundid]

Same **** happened to me. Fundkite declined my deal. Then a month later funded deal directly

[Davincinc]

month later deposits can go up, most lenders call clients after 15 days to close them on a lesser amount and also excluding the broker.

[Fundyman]

month later deposits can go up, most lenders call clients after 15 days to close them on a lesser amount and also excluding the broker.

Which is severe bullsh*t because that merchant was usually originated by the broker, who gets nothing at all for bringing the file to that lender. Anyway. Those are the necessary evils of the industry. Point being: If you have a client who needs money, you better find them that damn money! Otherwise, somebody else will.

[MCAProtect.Steven]

anyone who has done business with Steve Kumani or however you spell his last name knows he's a total snake oil salesman. Total thief and liar and the biggest back door artist in the business!

[channin19]

anyone who has done business with Steve Kumani or however you spell his last name knows he's a total snake oil salesman. Total thief and liar and the biggest back door artist in the business!

Don’t work with Fundkite but anyone else can look up Nulook Capital.

[WestCoastFunding]

anyone who has done business with Steve Kumani or however you spell his last name knows he's a total snake oil salesman. Total thief and liar and the biggest back door artist in the business!

100% true.