[Chargers]

whats the FICO score?

[Kevin Henry-Seacoast]

Kevin - I promote Mantis's Ability to funding just about every sub-prime-file-scenario(outside of 3 restricted industries) because we actually do just that!

Marcus,

I was not questioning your firm's ability or capacity. I am questioning your disclosure whether you are acting as a funder or a broker for any and every deal every posted on this forum ....even for deals that would clearly not be a fit for your firm based on pricing and size.
A huge problem with financial services these days is people muddying the water. Professionals and business owners are hearing from 50 different people claiming they can "get it done" when the reality is about 10 out of the 50 actually have the ability and capacity to get the customer what they really need or desire. It's called bait and switch....are you familiar with the concept?

KH

[mcaguru]

Marcus,

I was not questioning your firm's ability or capacity. I am questioning your disclosure whether you are acting as a funder or a broker for any and every deal every posted on this forum ....even for deals that would clearly not be a fit for your firm based on pricing and size.
A huge problem with financial services these days is people muddying the water. Professionals and business owners are hearing from 50 different people claiming they can "get it done" when the reality is about 10 out of the 50 actually have the ability and capacity to get the customer what they really need or desire. It's called bait and switch....are you familiar with the concept?

KH

Kevin -
Let me be clear. if someone sees my post about "we can get it done" and does not work with us and wants to send us the deal we wont accept the deal until he gets properly boarded and we do our due-diligents on ISO... we are from the few funders that dont take deals by someone seeing my daily funder post and trying to instantly sending it here... that includes your large firm ....try it out... tell me you want to send me 10 of the largest best deals today and we would NOT be able to board you without lots of paperwork and than talk to account managers who would disclose all our procedures for you to then choose if you ONLY want Mantis or at times cresthill or etc.

Ill tell you one more by the time we get you approved ..i would recommend you use my competitor for these 10 since it will take a while to clear your firm ! (correct even your large bank will have to be properly vetted for us to board).

[Kevin Henry-Seacoast]

Kevin -
Let me be clear. if someone sees my post about "we can get it done" and does not work with us and wants to send us the deal we wont accept the deal until he gets properly boarded and we do our due-diligents on ISO... we are from the few funders that dont take deals by someone seeing my daily funder post and trying to instantly sending it here... that includes your large firm ....try it out... tell me you want to send me 10 of the largest best deals today and we would NOT be able to board you without lots of paperwork and than talk to account managers who would disclose all our procedures for you to then choose if you ONLY want Mantis or at times cresthill or etc.

Marcus,

I am very clear at what I do. I am a factor and an asset based lender. I am NOT a broker and hung up my investment banking shoes 5 years ago when I joined the firm. If a referral source sends a deal to us that is not a fit, we tell the referral source it's not a fit and it is up to them to take it to an appropriate capital source. I get paid to deploy capital and get it back that's it! There are RARE occasions I will tell the referral source to call another factor that has a line or refactors with us. I do not collect any fees for doing such.

[mcaguru]

Marcus,

I am very clear at what I do. I am a factor and an asset based lender. I am NOT a broker and hung up my investment banking shoes 5 years ago when I joined the firm. If a referral source sends a deal to us that is not a fit, we tell the referral source it's not a fit and it is up to them to take it to an appropriate capital source. I get paid to deploy capital and get it back that's it! There are RARE occasions I will tell the referral source to call another factor that has a line or refactors with us. I do not collect any fees for doing such.

On a side note. there are thousands of people that have the same positions as yours at other banks -- Yet you are the only one on the funder...is that because they are not aware of the funder (in that case Hugh upside for DF) or is there another reason ? i was always curios ...

[Kevin Henry-Seacoast]

On a side note. there are thousands of people that have the same positions as yours at other banks -- Yet you are the only one on the funder...is that because they are not aware of the funder (in that case Hugh upside for DF) or is there another reason ? i was always curios ...

Marcus,

Most traditional bankers do not know this forum exists or probably have no interest as most of the prospects that would be represented by a referral source on this forum are not bankable or barely bankable. Since we are one of the few banks in the Country with a non-bank asset based product and a factoring product it makes sense for me to be here. I have closed some factoring/ABL facilities with referral sources from the forum and sometimes there is useful information.
Most of the referral sources on the forum focus solely on advances. There are a growing number that are leveraging what they have spent on infrastructure and marketing to seek new tools/products that could be helpful to their clients. Hence the reason I have closed some deals with people from the forum. 3 recent deals closed are from referral sources that never worked on a factoring/ABL deal in their life.

Lesson learned here.... Most people will stick with what they know. The really successful will reach out and learn new ways to help clients.

[RickyR3712]

On a side note. there are thousands of people that have the same positions as yours at other banks -- Yet you are the only one on the funder...is that because they are not aware of the funder (in that case Hugh upside for DF) or is there another reason ? i was always curios ...

Mcagru for a democrat senate position.He is calling you out for lying on this forum and you are now attacking him.Does your boss know how bad you make his company look?Are you an owner?

[RickyR3712]

Side note when funders give you their guidelines and get upset when you send deals that are out of those guidelines or have low closing ratios usually means they do not steal them.
When you have some" funders" on here just saying submit submit submit even when they know you have better offers than they can offer or that it is something they will not approve. Chances are they are backdooring you and just want the file to call on.
Disclaimer i am not referring to any specific company just use this as a rule to your own decision.

[Kevin Henry-Seacoast]

Mcagru for a democrat senate position.He is calling you out for lying on this forum and you are now attacking him.Does your boss know how bad you make his company look?Are you an owner?

I am a happy shareholder....