Results 1 to 25 of 110
Hybrid View
-
12-25-2018, 01:53 PM #1
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
Tvt capital backdoors deals with ez funding
I was irate to learn that TVT funded the MY merchant with another broker a couple of days after sending my company the denial below. My customer is a accountant they funded 45k to and paid off all other positions.
DENIAL FROM TVT BELOW:
WE CANT DO ANYTHING HERE DUE TO SIC CODE AND A BUNCH OF HIGH RISK POSITIONS. GUESS IT WAS OK TO DO THE DEAL WITH EZ FUNDING
calculated backdoor to EZ Funding Stay away from TVT!!!
-
12-25-2018, 08:11 PM #2
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
How do you know they funded it? The merchant told you?
-
12-26-2018, 09:48 AM #3
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
They told us by e-mail and said sorry an,d said that EZ Funding provided more financials he is a accountant who I funded many times like I couldn't get more financials out right thieves all documented step by step by e-mail ...What happened to this deial e-mail TVT?
DENIAL FROM TVT BELOW:
WE CANT DO ANYTHING HERE DUE TO SIC CODE AND A BUNCH OF HIGH RISK POSITIONS.
GUESS IT WAS OK TO DO THE DEAL WITH EZ FUNDING
-
12-26-2018, 12:06 PM #4
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
Yes the Merchant informed us: rate & term and that EZ funding contacted him 2 days after we submitted to TVT
-
12-25-2018, 09:18 PM #5
Reputation points: 33996
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
Screen name not delivering
-
12-26-2018, 08:08 AM #6
Reputation points: 4871
- Join Date
- Dec 2018
- Posts
- 66
Tvt family owns all the bravo pizza in nyc. Just cold call bravo pizza for advances. Lol
-
12-26-2018, 01:13 PM #7
Reputation points: 5933
- Join Date
- May 2017
- Posts
- 122
Isaac N Mizrahi
ISO Relations Manager | SPG Advance, LLC
Office: 212-225-8279
Mobile: 323-617-1397
Email: Isaac@SPGAdvance.com
www.SPGAdvance.com
-
12-26-2018, 01:18 PM #8
Reputation points: 307559
- Join Date
- Jun 2015
- Posts
- 3,323
-
12-26-2018, 01:37 PM #9
Reputation points: 49940
- Join Date
- Aug 2014
- Posts
- 620
-
12-26-2018, 01:42 PM #10
Reputation points: 77721
- Join Date
- Jan 2018
- Posts
- 519
-
12-26-2018, 09:38 AM #11
Reputation points: 307559
- Join Date
- Jun 2015
- Posts
- 3,323
what was the time period from when you got declined to when they funded it ?
-
12-26-2018, 09:44 AM #12
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
5 days and killed my other contract
-
12-26-2018, 09:52 AM #13
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
My client told me he was sorry but with such a great contract he had to take it 7 months $45k guess he wasn't so bad after all TVT!
-
12-26-2018, 10:34 AM #14
Reputation points: 77721
- Join Date
- Jan 2018
- Posts
- 519
To be fair to TVT, EZ might have initially received a decline as well but then provided more information to help underwriter take a better look
Or on the other hand, the CEO of TVT could have saw the submission come in from two different ISO's and said "screw Backdoor Avenger he seems like a real dick" and then called EZ business and said "your good here bro, this merchant is shopping around but I'm just going to decline this submission for every other broker and give you a sick nasty offer to close LETS GET IT FUNDEDDDDDD"
-
12-26-2018, 10:56 AM #15
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
Bottom line my submission was first then after my decline magically EZ reached out with a great deal its Black and white period. Never was it mentioned that someone else also submitted it was a flat out decline due to SIC code and multiple positions.
-
12-26-2018, 11:29 AM #16
Reputation points: 227882
- Join Date
- Feb 2017
- Posts
- 3,429
1) Are there multiple funders at TVT that one said no, one said yes?
2) Do you trust "your" merchant to be honest with you?
What does your ISO rep at TVT say?
-
12-26-2018, 12:30 PM #17
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
Contacted CEO directly and he admitted we were first.
Said EZ Funding sent in a Tax Return- That is called a stip. The previous years income as you know is on the app.
This was a solid premeditated Back Door deal. Decline was due to SIC code and existing positions....for us-
Forewarned is forearmed- you want to do business with a lender that steals your hard work- be my guest. This was only the second deal that we sent to them and they stole it.
-
12-26-2018, 12:39 PM #18
Reputation points: 77721
- Join Date
- Jan 2018
- Posts
- 519
I dunno man
I don't work with TVT but I picture them like a cowboy gunslinger in the wild west who walks around with a dark black pistol, doesn't talk much, but when they get into a gun fight they go for the biggest baddest mofo out there and shoots them down faster than the other cowboy could say "wait I need 12 points on this deal"
-
12-26-2018, 12:46 PM #19
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
-
12-26-2018, 12:49 PM #20
Reputation points: 77721
- Join Date
- Jan 2018
- Posts
- 519
-
12-26-2018, 12:37 PM #21
Reputation points: 86941
- Join Date
- Feb 2018
- Posts
- 1,349
painful lesson, happens in this business, move on to another funder you can get a good relationship with.
-
12-26-2018, 12:39 PM #22
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
Not a good look, TVT. I’ve always had my suspicions. Too ad hoc for my taste.
Last edited by WestCoastFunding; 12-26-2018 at 12:47 PM.
-
12-26-2018, 12:42 PM #23
Reputation points: 307559
- Join Date
- Jun 2015
- Posts
- 3,323
i dont think this is a backdoor more like a screwup the question is would they make good on their mistake or say screw you
-
12-26-2018, 12:43 PM #24
Reputation points: 77721
- Join Date
- Jan 2018
- Posts
- 519
-
12-26-2018, 02:24 PM #25
Reputation points: 63
- Join Date
- Oct 2018
- Posts
- 16
This was no " screwup " or one U/W said yes and one said No. If it was - would you do business with a company that is that disorganized.
Contacted CEO told him to wire the money into my account and if it was an error it would be water under the bridge - he declined and told me to be "mature" about it.
That's rich coming from a tiny company of kids running around playing businessman with Daddy's pizza money.
Tricks are for Kids.
I just posted this to inform everyone- as I TRULY appreciate the forum for the Heads Up on all the great topics.
This Forum is a Godsend for ISO's and everyone needs to share what they know. Always on the look out for new products and programs- like when reversals started. There is always a chance that you take when you stray from your main base of funders.
Hope that this helps some of you - I am now backed up with files and emails and have to sign off- but keep your comments coming - appreciate the support.
Similar Threads
-
TORRO UNDERWRITES MCA and Start Up Files! Exclusive Direct Funder - No Backdoors!!
By TorroACH in forum Merchant Cash AdvanceReplies: 4Last Post: 08-18-2018, 10:33 AM -
RDM Capital Funding for your 2nd-4th position deals!
By Michael@RDM in forum PromotionsReplies: 0Last Post: 07-10-2018, 03:35 PM -
RDM Capital Funding looking for new ISO's. Bring us your 2nd - 4th position deals
By Michael@RDM in forum PromotionsReplies: 0Last Post: 06-11-2018, 11:50 AM -
Premier Capital Funding - a new home for your California deals (and not only)
By premierecapitalfunding in forum PromotionsReplies: 1Last Post: 02-02-2018, 03:40 PM -
Buyer Beware PowerUp doesn't pay commission! and backdoors.
By John Galt in forum Merchant Cash AdvanceReplies: 15Last Post: 08-17-2016, 10:43 AM