[BROKER TIME]

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

[fundingsmbs]

you do realize some of the list names broker deals as well to other funders?

[BROKER TIME]

i dont =/

[Finance Guru]

We would like the opportunity to fund your deals and show you the stellar customer service we provide to our ISO's. Looking forward to hearing from you soon and funding your deals.

[J.Celifarco]

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

list is basically good have a couple people that i am unsure about on there 1 or 2 that might be brokers but dont know for certain feel free to reach out any time to talk about it

[Karen37a]

you do realize some of the list names broker deals as well to other funders?

On top of this.

I've always suggested to people to not spread yourself out so thin...people give the exact opposite advice.

( this is an example or an analogy)

If a Funder was Funding 5 million a month and you and your team were responsible for 4 million of it...would they backdoor you? maybe...it wouldn't be smart.

Depending on your volume monthly..you do or do not matter to most people this is why the concept of "Super Iso" exists...a bunch of brokers who could have all been an individual Iso( or one with 2-5 people) got talked into following one lone broker into the wilderness and make a team.

If there is a quota on production to be met, there will come a time where you get cut off. I have to admit It was semi-funny to watch the brokers who were bashing the super iso concept get their book of business taken from them.

Solutions...Narrow down your list or go to a smaller funder who might care about you or produce more business or raise capital to syndicate and participate in the deals

[Brightpoint]

I highly doubt that these big MCA companies train their employees to steal the deals from ISO. But rather, some bad sales reps or underwriters make relationships w/ another funders in the behind and secretly sell the leads for X amount of $.

[ryan $]

list is basically good have a couple people that i am unsure about on there 1 or 2 that might be brokers but dont know for certain feel free to reach out any time to talk about it

Everyone on this list Funds Direct.

Yellowstone and Cresthill/Mantis will Broker - Openly
BFS Has been having LOTS of reported Backdoor Issues

Im good w/ every other lender on the list

[Karen37a]

I highly doubt that these big MCA companies train their employees to steal the deals from ISO. But rather, some bad sales reps or underwriters make relationships w/ another funders in the behind and secretly sell the leads for X amount of $.

I am not going to comment on things. This is where I clam up.

# 1 thing ...make profit for the Funder ...they are "investing" to not only get their money back but a profit...and not a small one. No one takes all these risks for 10%...if they do I have a bridge to sell them

[Brightpoint]

Everyone on this list Funds Direct.

Yellowstone and Cresthill/Mantis will Broker - Openly
BFS Has been having LOTS of reported Backdoor Issues

Im good w/ every other lender on the list

BFS backdoor??? Really?? Interesting..

[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]

please private message me new to the site

[Karen37a]

please private message me new to the site

So after what I typed your solution is to sign on to another funder...aj might be a good company havent used them yet.

This is why only 5 % make it.

Something called Next!

[ajequitymatt]

So after what I typed your solution is to sign on to another funder...aj might be a good company havent used them yet.

This is why only 5 % make it.

Something called Next!

I called you hoping you would give me an opportunity!

[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]

I called you hoping you would give me an opportunity!

its end of month and I am going to choke out a broker in the office ...sleeper hold( jk)...talk to you next month

[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

[mcaguru]

Cresthill will broker ONLY if ISO agrees. Those wishing to only work with MANTIS than it ONLY gets priced by mantis and never gets brokered out. I have the ability to give references of shops that we paid 100's of K's (some 1M+) who will vouch for why they work high risk (only) with MANTIS ...

[mcaguru]

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

[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.

[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."

[WestCoastFunding]

Get rid of BFS and watch the backdooring decrease.

[mcaguru]

I only know what i hear.

[WestCoastFunding]

I am not going to comment on things. This is where I clam up.

Spill it.