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01-30-2019, 04:15 PM #1
- Join Date
- Nov 2014
- Posts
- 97
Reliable Funders , Non Reliable Funders and Plces you just Dont send deals too
Guys has there ever been a list where we can rate on a objective was the Funders and share some of their non disclosed practices (Short Pay on renewals , Always sending short on commissions , killing the deals on Funding calls due to QC or Strict UW , poor customer service for merchants , clawback practices .... and many more)
Over the past 6 years i have worked and funded with the following , Ive had many great experiences and plenty of terrible ones . I would love to Share them for those who care about a reference on these funders
Ill Start from Top of the food chain to bottom
Funding Circle - who gets approved here???
Ondeck -- Hands down the fastest and prob the best funder
CAN Capital -- CLOSED - Lots of good experiences for a lot but for me it was just bad ones
Swift -- Closed and they would teach you how hard can it be to fund any deal but did fund some
MCC / BIZFI / credibly - There were Ok , now there's to many that do the same terms rates to bother if your not signed up
Snap Advances - Credit Committee is a tough one for them but if your deal passes their internal scoring and CC. then you probably will get funded
BFS -- OMG these guys are Almost like SBA on the amount of paperwork they need to fund a deal and also have Credit Committee
MCA -- Maybe Closed? They were some of the first ones to offer super high rates for higher risk deals
Quarterspot -- They Let your merchant know how much you get paid on the contract so thats a no no or a deal breaker for many
GRP
IOU
Windset Capital -- Closed , but they were the best one up to 100k
Strategic Funding
Mulligan Funding -- Per their own team , cut the approvals by half and sell that just to be safe ha ha ...
Rapid Advance
Knight Capital
Greenbox -- Strict Clawback Policy , ISO signs a personal Guarantee and Merchants get charges an extra 3% if they don't renew with them , most of commission come short so you got to look out for that
Everest
Kalamata / KCG
New Era
Legend --Pretty Good B paper
UFS -- If they approve they are Excellent and pay you fast
Divergent Capital -- Pretty Good C paper
Yellowstone - Kings of the COJ and funding , Anthony is the Man there
Pearl capital - Don't waste your time here
Atlas / Midnight Advance -
Quicksilver - Small Deal funder
Vader - Small deal funder @ 1.50 or more for 3 or 4 months
Mantis / Cresthill - 1.48 @ 80 Payments
Fundworks -- hope they closed because they suck
I can keep adding details but this is a start . We can add funders if someone cares to share experiences
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