[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...