[ajequitymatt]

I'm the same way. Before I found AJ Equity, I worked for a few brokerage firms making 200-300 phone calls every day. I was constantly getting applications and bank statements in but once I got them, I had to hand them over to the "closers". Once I did that, I would never see nor hear about the file again. I just kept being told that its a numbers game and I have to keep making more phone calls to increase my odds of having a deal fund. After closing a 45k deal (my team closer didn't close the deal, he was actually afraid of the merchant. Me and the girl who did processing were talking to the merchant the entire time, calming him down and helping him through the entire process) I was fired. They took all of my leads and I found out afterwards that they funded a lot of my deals behind my back. They also never paid me for the 45k funding. I knew that I could bring in docs so I never let it discouraged me, I went straight to another brokerage firm. They did the same exact thing. Made fake funding contracts to get deals closed, lied to merchants and funders, cheated me on commission, etc... After that I told myself I would never get fooled again. I started my own brokerage firm and after some time I found a good honest company looking to do direct funding. I stopped making the phone calls for my brokerage firm and started working closely with AJ Equity.

AJ Equity funds high risk deals and a lot of high risk funders reach out to the merchants but we truly never do. I just refuse to do business like that.

[BROKER TIME]

just as a side note i get alot of A+ paper as well they dont want weekly's and the only product i have is MCA any recommendations on that side of things?

[Karen37a]

just as a side note i get alot of A+ paper as well they dont want weekly's and the only product I have is MCA any recommendations on that side of things?

You took the story one step too far with this line.

Just type ..." hey everyone I am an ex stripper...top model and entered the business.. I weigh 115lbs and have a huge irrevocable trust fund from my wealthy family.. I want to syndicate and I am also looking for a man to guide me. I have a bunch of A paper friends who have 750 credit scores as well and they need funding within the next 30-90 days daily payments only"

[BROKER TIME]

wow i’m sorry that I asked for help with paperwork that I’m not able to fundd because the terms go only 18 months and are weekly payments

was asking advice from people about different services to offer these merchants that won’t take an mca if you don’t have anything positive to add to this post please refrain from commenting on it I’m not looking to make this about you I’m asking for advice so if you dont have any please trill elsewhere tia

[ridextreme]

wow i’m sorry that I asked for help with paperwork that I’m not able to fundd because the terms go only 18 months and are weekly payments

Are you really complaining that you get "only" an 18 month term and are weekly payments? So you prefer daily payments? These are the offers that are the easiest to sell.

[BROKER TIME]

Are you really complaining that you get "only" an 18 month term and are weekly payments? So you prefer daily payments? These are the offers that are the easiest to sell.

maybe some of you dont read well
i did not say i only get 18 months
what i said was
for people that have no interest in MCA 18 months and a weekly doesnt close as often as youd like hence me wanting to add another product to my line

i noticed alot of you posters look to criticize posts

[SCCNY]

You took the story one step too far with this line.

Just type ..." hey everyone I am an ex stripper...top model and entered the business.. I weigh 115lbs and have a huge irrevocable trust fund from my wealthy family.. I want to syndicate and I am also looking for a man to guide me. I have a bunch of A paper friends who have 750 credit scores as well and they need funding within the next 30-90 days daily payments only"

haha what does this even mean

[WestCoastFunding]

haha what does this even mean

Hysterical.

[Mr. Amilli]

haha what does this even mean

She is just as crazy in person....it's not an act...........

[Karen37a]

She is just as crazy in person....it's not an act...........

Crazy like a fox...thank God some of you would have eaten my eyeballs and dumped me in the river for 2 points

[mcaguru]

I speak to hundereds of ISO's a week who tell me nightmare stories but never heard them about BFS...

[abfunders]

I speak to hundereds of ISO's a week who tell me nightmare stories but never heard them about BFS...

Marcus, like that time I had contracts from Mantis just to get it killed after they were signed because the merchant once had altered payments on Mantis last year? That's a very thorough underwriting process, just in order to be "first to contract."

[abfunders]

Broker Time, please click the "ignore" button on her. Some of us aren't good salespeople so we can't sell MCAs like her ($1mm/mo funded, so she claims), so we try to match out clients with secured loans like real estate, A/R, M&E, over-arching SBAs, or with unsecured LOC, or other creative funding mechanisms.

[WestCoastFunding]

Get rid of BFS and watch the backdooring decrease.

[Michael Slabitcher]

Get rid of BFS and watch the backdooring decrease.

Is there a thread on this?

[BROKER TIME]

Broker Time, please click the "ignore" button on her. Some of us aren't good salespeople so we can't sell MCAs like her ($1mm/mo funded, so she claims), so we try to match out clients with secured loans like real estate, A/R, M&E, over-arching SBAs, or with unsecured LOC, or other creative funding mechanisms.

lol i think were pretty decent size number wise doing 1.3-1.7 mill a month with a 4 person calling crew just know we could be doing more because alot of the files dont fit into MCA or are getting backdoored

[Karen37a]

Broker Time, please click the "ignore" button on her. Some of us aren't good salespeople so we can't sell MCAs like her ($1mm/mo funded, so she claims), so we try to match out clients with secured loans like real estate, A/R, M&E, over-arching SBAs, or with unsecured LOC, or other creative funding mechanisms.

yes your limited experience with secured loans is going to eclipse my venture capital , hard money and loan underwriting experience of 30 years

Enough already..YOU hit the ignore button

[BROKER TIME]

yes your limited experience with secured loans is going to eclipse my venture capital , hard money and loan underwriting experience of 30 years

Enough already..YOU hit the ignore button

everyone else is here to help you are not all you have done is create nonsense and arguments on my post
so please move on to another post

thank you

[Karen37a]

everyone else is here to help you are not all you have done is create nonsense and arguments on my post
so please move on to another post

thank you

Good luck in mca you will need it you are on ignore.. I can smell the defaults coming .. I am not them

Add ... and some of you are playing into this ooo i am backdoored help me crap on an industry board

Adn your greed is getting you...ooo i have a plus paper daily payments help me help me

I know a set up when i see one

[BROKER TIME]

[QUOTE=Karen37a;97176]Good luck in mca you will need it you are on ignore.. I can smell the defaults coming .. I am not them

Add ... and some of you are playing into this ooo i am backdoored help me crap on an industry board

Adn your greed is getting you...ooo i have a plus paper daily payments help me help me

I know a set up when i see one[ What can I possibly gain other than the knowledge that I need to better my business and possibly add more products to my line and to know the truth of who is backdooring and who is not

as far as default it happens to the best of them you can’t control when the debt collector makes a deal sounds so good to some of these merchants
Or when sometimes the merchants over leverage because people give them a few more positions either which case I can tell you that I don’t get many defaults they do happen of course and anyone who works with my company in the industry can vouch for how solid of the company we are I won’t post my company name as I do not need spam from lead companies etc..

[mcaguru]

I only know what i hear.

[Fundyman]

Good afternoon all,

We have been in the MCA industry for a couple of years now and we are strictly brokers with the occasional syndication
My company receives paper work from a-z and of course we don’t just submit the files to every lender in our arsenal we send A-A B-B ETC….
We do it the right way by cold calling
We do not purchase “special leads” that have bank statements as we are in it for the long haul and look to do right by our clients and our lenders so when we lose a file to these practices it stings a lot harder
Lately I have seen my files have been backdoored at an all-time high
I have tried everything changing phone numbers email addresses etc.. on my applications it doesn’t change a thing

I know most of you will say build a better relationship with your client which is what we emphasize to all of our reps but when they get a call from someone saying MR john doe I have your bank statements in front of me I don’t care how much you think you have built a relationship that client will entertain the new person on the phone
It’s a shame that that’s what we are going up against, but it is reality

I know that a lot of you have a lot more experience on the back end of things and have some good advice, so your input would be appreciated
Below is a list of lenders we are currently working with


On deck
Strategic
Can capital
Quarterspot
Principis
Iou
1st global
BFS
Expansion capital
Uplift capital
In advance
Lendini
Mantis
Yellow stone


Of course, we don’t submit every file we have to all the lenders on the list these are just the people we are signed up with
If you want to post or private message me of who you truly believe the submissions should be going to and who not to send to
I would really appreciate it

I'm reading your list of "lenders" you're currently working with, and without going down too far, I'm thinking: "This guy has noooooooooooooooo clue....."
I'm surprised some of those "lenders" haven't already changed their names to BackDoor Funding or BackDoor Capital by now! Are you kidding me???

It's a crying shame, but from my perspective, many funders have become terribly desperate to the point of risking their long-term credibility & sustainability with ISOs, and just plain backdoor folks. I think perhaps, some of those companies know they're going down soon, so they just take as much paper as they can with them, making every penny count in their downfall, by sucking as much of it out of ISOs as they possibly can.

Others just seem to undervalue smaller ISO shops by not seeing it as a risk to jeopardize that particular relationship; not realizing that sometimes, they'll just get blasted & no matter how bad they'll deny their shady practices, the damage will have been already done. Others as just backdoor shops. You should know better than to just do business with them.

I'm not out to blast out names, of course. They already know who they are. I just wish you had the magnifying glass to see thru the ones I'm talking about...

[BROKER TIME]

Thank you to the handful of you that were helpful

[goldcapitalfunding]

@Broker Time - I would highly recommend that you look into funding your deals with CFG Merchant Solutions. I have done a lot of work with them in the past and they are a top quality funding shop that you can trust. If you inquire, ask for Lior M. or Eric P. and you will be in excellent hands.

[mcaguru]

Karen did you say your clamming up ? LOL