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  1. #1
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    GPR/Business Fin Servi Credit Pulls

    We had a customer call in complaining that their credit had been run through a prev broker several times. We had them send a credit report and this company popped up and it sounds like GRP/BFS? It's listed together as GPR/Business Financial Servi with an address of Coral Springs, FL. Is this BFS?

  2. #2
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    Quote Originally Posted by fundingsmbs View Post
    We had a customer call in complaining that their credit had been run through a prev broker several times. We had them send a credit report and this company popped up and it sounds like GRP/BFS? It's listed together as GPR/Business Financial Servi with an address of Coral Springs, FL. Is this BFS?
    Yep. BFS used to be called Business Financial Services before they rebranded. They bought GRP.

  3. #3
    Soft pulls upfront. Hard pulls on the backend.

  4. #4
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    is there a reason they are keeping the GRP name if it's BFS?

  5. #5
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    Who did you send the file to GRP or BFS?

  6. #6
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    Quote Originally Posted by fundingsmbs View Post
    is there a reason they are keeping the GRP name if it's BFS?
    They still use the GRP name. I know the GRP guys had been suing BFS over the way the acquisition went down. Not sure what came of it.

  7. #7
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    does it matter who to send file to if they are one in the same? still confused from a co branding, why bfs would use other names. is that just to throw out another net in the market to draw business fr brokers?

  8. #8
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    anyone have a contact at BFS to discuss?

  9. #9
    Karen37a
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    Quote Originally Posted by fundingsmbs View Post
    anyone have a contact at BFS to discuss?
    There were 2 Super Isos/ Syndicators ( funding 3-5 million a month independently)

    They were bought out by BFS thru a "stock swap" and compensation plan. They ran independently of BFS. I was out of one of the offices.

    Once they were bought out they choose to do whatever it is with the merchants the sales force splintered in Tampa, some stayed behind. Enter Karen stage right.

    ( and I left my small book of business behind, I was only there for a short time...they* a few brokers * were yelling my name across sales floors for 3 years..strangers know me. They are somewhere else watching this and yelling my name. )

    My guess is the 1st company looked at it and it went to final underwriting and they pulled the credit again.

    Call BFS
    Last edited by Karen37a; 11-13-2018 at 11:59 AM.

  10. #10
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    Quote Originally Posted by Karen37a View Post
    There were 2 Super Isos/ Syndicators ( funding 3-5 million a month independently)
    You think BFS does $3-5 mill a month? You might be a little off. Link below says $300 mill in 2016

    https://debanked.com/2017/03/the-top...nders-of-2016/

  11. #11
    Karen37a
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    Quote Originally Posted by Nunya View Post
    You think BFS does $3-5 mill a month? You might be a little off. Link below says $300 mill in 2016

    https://debanked.com/2017/03/the-top...nders-of-2016/
    I said the 2 companies....super isos they bought out ...not bfs in its entirety

    and they might have maxed at 7 million a month on a good month...reach for 10

    I am guessing.. ( it was a paper only)

  12. #12
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    Quote Originally Posted by Karen37a View Post
    I said the 2 companies....super isos they bought out ...not bfs in its entirety
    Gotcha

  13. #13
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    they used to own GBR out of GA do they still own that one? It sounds like what your saying is they acquired two ISO's and now those ISO's are part of the BFS family. Why the credit pulls have two company names merged on credit reports , however, is odd .

  14. #14
    Karen37a
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    Quote Originally Posted by fundingsmbs View Post
    they used to own GBR out of GA do they still own that one? It sounds like what your saying is they acquired two ISO's and now those ISO's are part of the BFS family. Why the credit pulls have two company names merged on credit reports , however, is odd .
    Super isos Funders..syndicators

    5 of us from the one office were funding 5-7 A paper deals a month avg 40 k

    I hated that stock offer...said so at the time

    Brokers eventually joined my ISO( past the non compete) and that is the real reason they hate me
    Last edited by Karen37a; 11-13-2018 at 12:18 PM.

  15. #15
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by Karen37a View Post
    There were 2 Super Isos/ Syndicators ( funding 3-5 million a month independently)

    They were bought out by BFS thru a "stock swap" and compensation plan. They ran independently of BFS. I was out of one of the offices.

    Once they were bought out they choose to do whatever it is with the merchants the sales force splintered in Tampa, some stayed behind. Enter Karen stage right.

    ( and I left my small book of business behind, I was only there for a short time...they* a few brokers * were yelling my name across sales floors for 3 years..strangers know me. They are somewhere else watching this and yelling my name. )

    My guess is the 1st company looked at it and it went to final underwriting and they pulled the credit again.

    Call BFS
    BFS and GRP are 2 lenders who have been in the space for a long time. You are way off on this one. Both of these companies have been in the space since MCA's were only split deals off of credit card processing
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  16. #16
    Karen37a
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    Quote Originally Posted by J.Celifarco View Post
    BFS and GRP are 2 lenders who have been in the space for a long time. You are way off on this one. Both of these companies have been in the space since MCA's were only split deals off of credit card processing
    Had to remove you from the block ( I can still see the comments when not logged in..blocking is not that effective)

    Do me a favor. You have no clue as to what you are speaking about. I know exactly how the deals went down and the lawsuits. I am from wall st and I boogied out of there way before **** or lawsuits hit the fan. And I warned people

    I am not commenting on them further. Think what you will

  17. #17
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by Karen37a View Post
    Had to remove you from the block ( I can still see the comments when not logged in..blocking is not that effective)

    Do me a favor. You have no clue as to what you are speaking about. I know exactly how the deals went down and the lawsuits. I am from wall st and I boogied out of there way before **** or lawsuits hit the fan. And I warned people

    I am not commenting on them further. Think what you will
    what does that have to do with you saying they are super ISO's. I know both companies and have worked with them both on and off for over 10 years. I didn't talk about the lawsuit I said they are lenders which is true
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  18. #18
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    John, are you saying BFS didnt acquire GRP?

  19. #19
    Karen37a
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    Quote Originally Posted by J.Celifarco View Post
    what does that have to do with you saying they are super ISO's. I know both companies and have worked with them both on and off for over 10 years. I didn't talk about the lawsuit I said they are lenders which is true
    one was going off the can platform and bfs ...dropped can and only bfs ( then my association to them terminated.. BEFORE the lawsuit)

    The other bfs and brokered out to a few funders

    I am not going to explain it to you. There were a few lawsuits years after. Good thing I see things in 2 days flat


    They are all BFS Now....do no think the hatred of me came out of nowhere ...think what you will ...back to iggy for you

  20. #20
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by fundingsmbs View Post
    John, are you saying BFS didnt acquire GRP?
    I am not 100% sure if one acquired the other. I know they were both direct lenders, and I do know that GRP had a relationship with BFS where their loan product was being done on BFS paper. Other then that I am not sure of what their relationship is these days
    Last edited by J.Celifarco; 11-13-2018 at 12:38 PM.
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  21. #21
    Karen37a
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    Quote Originally Posted by fundingsmbs View Post
    John, are you saying BFS didnt acquire GRP?
    If you do not take what I say as gospel ill never answer a question for you again

    If I was not sure id say ..I am 90% sure or I think * etc...this is printed in stone

  22. #22
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    karens explanation makes sense why on the credit reports both companies are listed together.

  23. #23
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by Karen37a View Post
    If you do not take what I say as gospel ill never answer a question for you again

    If I was not sure id say ..I am 90% sure or I think * etc...this is printed in stone
    WOW, the Gospel of cash advance according to Karen
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  24. #24
    Karen37a
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    Quote Originally Posted by fundingsmbs View Post
    karens explanation makes sense why on the credit reports both companies are listed together.
    I was doing deals with ...i kept asking ( are yo sure this isn't this underwriter) you can tell an underwriters style

    They did 18 months ...renewals without a hitch ( i did love their deals)

    I was told to go to underwriting school once...they wound up in court

    Not sure what their deals are like now, they were very responsive, great renewal team
    Last edited by Karen37a; 11-13-2018 at 12:47 PM.

  25. #25
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    they told you to go to UW school? Ouch! It sounds like BFS was doing the UW based on John's comment of loans going to BFS.

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