[Kevin Henry-Seacoast]

on the line of credit,never did factoring with them

Should not matter what product. If they are in an agreement with the customer the referral source should be paid. They should also pay the referral source if the agreement was terminated and re-opened withing a reasonable time period.

[abfunders]

I think you can probably approach Bluevine and ask them to put them under your auspices again. Did you try?

[matt.estes]

merchant borrows 100k pays it back fully with interest in a month. comes back 2 days later and they give him 100k iso gets paid zero . if he had any balance left even a hundred dollars than iso will be paid on the whole 100k.

Hi Michael - I don't completely follow the scenario that you're outlining.

If you fund a client with us and that client is attributed to you, you're paid commissions for the lifetime of the client (subject to your termination clause in the ISO contract that you signed).

Happy to discuss further live if you'd like.

Matt
BlueVine

[matt.estes]

Wait... if they are under a financing contract with the client, why would they not pay the referral source? Even if the client paid down the facility to a zero balance and came back two weeks later for more funds under the same agreement you should get paid. It's not like they terminated the agreement with the customer and then entered a new agreement????

That's why I don't follow Michael I's scenario. It's possible there is some detail I'm missing, so I can't comment with certainty yet.

But when a customer pays down to zero balance, that doesn't close their account with BlueVine. Quite the opposite - keeping the line open for future draws is like 50% of the value prop to the customer and to the ISO.

The average customer draws 3x their credit line over 12 months. So a customer with $100K credit line draws $300K on average in the first year. The ISO is paid commission on all $300K.

Matt
BlueVine

[omegafund]

That's why I don't follow Michael I's scenario. It's possible there is some detail I'm missing, so I can't comment with certainty yet.

But when a customer pays down to zero balance, that doesn't close their account with BlueVine. Quite the opposite - keeping the line open for future draws is like 50% of the value prop to the customer and to the ISO.

The average customer draws 3x their credit line over 12 months. So a customer with $100K credit line draws $300K on average in the first year. The ISO is paid commission on all $300K.

Matt
BlueVine

Contact me on a deal with you guys. My rep tried with your Uw

Ben
720-279-4345

[matt.estes]

Hi Matt been waiting 2 days for your UW to get back to me on a deal. THE UW did not understand that merchant got paid by banks clients.... Let me know to discuss. My manager will reach out

Hey brokerCompany - Can you please PM me with a way to contact you? Not sure which ISO you're with.

Matt Estes
BlueVine
partners@bluevine.com

[Michael I]

Hi Michael - I don't completely follow the scenario that you're outlining.

If you fund a client with us and that client is attributed to you, you're paid commissions for the lifetime of the client (subject to your termination clause in the ISO contract that you signed).

Happy to discuss further live if you'd like.

Matt
BlueVine

hi matt
Maybe i am mistaken what causes a close of an account?
if you get paid off by a bank?

[matt.estes]

hi matt
Maybe i am mistaken what causes a close of an account?
if you get paid off by a bank?

Hi Michael,

Your original description was "merchant borrows 100k pays it back fully with interest in a month. comes back 2 days later and they give him 100k iso gets paid zero . if he had any balance left even a hundred dollars than iso will be paid on the whole 100k."

So within that context, I can tell you that one possibility is that a competitive lender led a buy-out of our LOC and required the close of our LOC as a stipulation to them taking first position. This does happen from time to time. This would officially close out the account.

Assuming that is what happened, I would have a few more questions. For example:

1) Who facilitated the buy-out? You, another broker, or the competitive lender through their direct team?

2) Who facilitated the placing of the BlueVine 2nd position LOC 2 days later? You or another broker?

Depending on the answers to the questions above, you might receive commission for the 2nd position LOC or you might not. We have strict policies in place to deal with these types of scenarios and ensure "fairness & equity".

I suggest you have a transparent conversation with your Relationship Manager about the specific deal / client. I'm always available for escalation if necessary.

[matt.estes]

Contact me on a deal with you guys. My rep tried with your Uw

Ben
720-279-4345

Hi Ben - I'll give you a ring tomorrow.

In the meantime, I did catch up with my team on the specific deal in question. It would be inappropriate for me to share real specifics on a forum like this, but from what I can see:

a) Your client got an approval, but not as large as you'd like. Your rationale to question the line size seems reasonable to me.

b) Underwriting requested a stip to try to bump the offer up for you. In my estimation, their rationale to ask for the stip is also reasonable.

c) You provided the stip back and it's in the Risk queue to be reviewed

I'm confident that we'll get to the right answer here. Either way, I'm looking forward to the chat tomorrow!


Matt Estes
BlueVine
partners@bluevine.com

[Michael I]

Hi Michael,

Your original description was "merchant borrows 100k pays it back fully with interest in a month. comes back 2 days later and they give him 100k iso gets paid zero . if he had any balance left even a hundred dollars than iso will be paid on the whole 100k."

So within that context, I can tell you that one possibility is that a competitive lender led a buy-out of our LOC and required the close of our LOC as a stipulation to them taking first position. This does happen from time to time. This would officially close out the account.

Assuming that is what happened, I would have a few more questions. For example:

1) Who facilitated the buy-out? You, another broker, or the competitive lender through their direct team?

2) Who facilitated the placing of the BlueVine 2nd position LOC 2 days later? You or another broker?

Depending on the answers to the questions above, you might receive commission for the 2nd position LOC or you might not. We have strict policies in place to deal with these types of scenarios and ensure "fairness & equity".

I suggest you have a transparent conversation with your Relationship Manager about the specific deal / client. I'm always available for escalation if necessary.

thank you matt i had the merchnat redo as a new file but i was told that if he did go back first to bluevine direct that i would have lost the file. i am sure now that if that does happen it will just need to be a call to you to fix . Celtic bank paid you off not through any broker.

[matt.estes]

thank you matt i had the merchnat redo as a new file but i was told that if he did go back first to bluevine direct that i would have lost the file. i am sure now that if that does happen it will just need to be a call to you to fix . Celtic bank paid you off not through any broker.

Yep, you got it! Happy to help.

+Matt

[fundingsmbs]

Hi Michael,

Your original description was "merchant borrows 100k pays it back fully with interest in a month. comes back 2 days later and they give him 100k iso gets paid zero . if he had any balance left even a hundred dollars than iso will be paid on the whole 100k."

So within that context, I can tell you that one possibility is that a competitive lender led a buy-out of our LOC and required the close of our LOC as a stipulation to them taking first position. This does happen from time to time. This would officially close out the account.

Assuming that is what happened, I would have a few more questions. For example:

1) Who facilitated the buy-out? You, another broker, or the competitive lender through their direct team?

2) Who facilitated the placing of the BlueVine 2nd position LOC 2 days later? You or another broker?

Depending on the answers to the questions above, you might receive commission for the 2nd position LOC or you might not. We have strict policies in place to deal with these types of scenarios and ensure "fairness & equity".

I suggest you have a transparent conversation with your Relationship Manager about the specific deal / client. I'm always available for escalation if necessary.

Isn't the general written policy on most ISO agreements out there that you get paid within 180 days of being paid off should the customer reborrow again? Granted there is alot of trust that has to be placed on the funder's side to inform the ISO this happened. The customer was originated by the ISO, therefore, there has to be fair rules

[AllCap]

Anybody have a good contact to get signed up at Bluevine, seems to be a battle just to get a response from them.

Thanks,

John Lehmann
AllCap Financial
949-625-6773

[Kevin Henry-Seacoast]

Anybody have a good contact to get signed up at Bluevine, seems to be a battle just to get a response from them.

Thanks,

John Lehmann
AllCap Financial
949-625-6773

Hi John,

Matt Estes is a frequent visitor to DF and actually posted above.

Best,

Kevin Henry

[AllCap]

Appreciate the call Kevin.....

[Kevin Henry-Seacoast]

Appreciate the call Kevin.....

My pleasure

[Money$Mike]

is there a number i can contact you?

[Money$Mike]

Headway doesnt even take ISO's im pretty sure.

Kabbag, Bluevine and Fundbox are the LOC providers, OnDeck too. They all are in the same ballpark pricewise.

Par has a LOC program too, with 6 point upsell on a buy rate schedule. I like their program cause you can make the most.

Imagine if you had a BlueVine type product 1.12 Buy Rate and you could put whatever points on a 6 month term. Id love that, brokers would move that product like hot cakes. Add 15 point to a 1.12, 6 Month 1.27 weekly payment.....thats totally sellable

what number can I reach you at. I wanted to ask you about the LOC

[Kevin Henry-Seacoast]

is there a number i can contact you?

Money$Mike,

Who are you trying to call?

[Money$Mike]

Hey brokerCompany - Can you please PM me with a way to contact you? Not sure which ISO you're with.

Matt Estes
BlueVine
partners@bluevine.com

Matt how can I contact you?

[Ericr123]

Do you guys PO Factoring?

[matt.estes]

Matt how can I contact you?

Mike - You can reach us quickly in one of two ways:

- Phone: (888) 216-9619 and press "3"
- Email: partnerinquiry@bluevine.com

Matt Estes
BlueVine
partners@bluevine.com

[matt.estes]

Do you guys PO Factoring?

We don't finance purchase orders; we only factor invoices where the work has been completed / product has been delivered.

I've worked with a few PO financing companies over the years with some pretty mixed experiences...

We have had a good experience working with Mark Polinsky at Gateway Trade Funding (mpolinsky[at]gatewaytradefunding[dot]com).

Matt Estes
BlueVine
partners@bluevine.com