[jfeinberg]

I typically don't write on here unless positive, but I had to share this.

I get a lot of call's from people in this industry not knowing who they are calling trying to lend me money. This is the problem with the industry and people just straight up lying to merchants.

The call came from a number 718-267-2861.

He stated his name was Steve calling from the bank. I asked what bank he said chase. I knew he was lying and just to make sure I asked can you do a third position cash advance, he said yes. Asked for website, he said chase.com.

Moral of the story.

Don't be like "Steve" AKA James Tsempelis

[WestCoastFunding]

Apparently he’s both an accountant and general contractor

[NoBigDeal]

I typically don't write on here unless positive, but I had to share this.

I get a lot of call's from people in this industry not knowing who they are calling trying to lend me money. This is the problem with the industry and people just straight up lying to merchants.

The call came from a number 718-267-2861.

He stated his name was Steve calling from the bank. I asked what bank he said chase. I knew he was lying and just to make sure I asked can you do a third position cash advance, he said yes. Asked for website, he said chase.com.

Moral of the story.

Don't be like "Steve" AKA James Tsempelis

Hahaha this is great!

[J.Celifarco]

unbelievable

[Sean Cash]

I typically don't write on here unless positive, but I had to share this.

I get a lot of call's from people in this industry not knowing who they are calling trying to lend me money. This is the problem with the industry and people just straight up lying to merchants.

The call came from a number 718-267-2861.

He stated his name was Steve calling from the bank. I asked what bank he said chase. I knew he was lying and just to make sure I asked can you do a third position cash advance, he said yes. Asked for website, he said chase.com.

Moral of the story.

Don't be like "Steve" AKA James Tsempelis

Do you bank with Chase? I ask because I too once got a strange call from someone claiming to be from Chase. The phone # didn't trace back to Chase and they told me they wanted to fund my business so I played along. "What branch do you work out of?" - Not one I had ever been to. "Can you fund me if I have an MCA?" - Yes. etc etc.

I was going to write about it but decided to call Chase myself and my banker tells me that, yes, someone in their credit department had been assigned to me. This person, and others, just cold call lists of their clients that they think might be eligible based on their banking history. So I forgot all about it until a month later, I got called again from someone claiming to be from Chase (different person). I ask all about their rates and they couldn't tell me anything about the terms, cost, nothing, just told me to send them documents. I said, "oh yeah, why don't we meet at the branch first?" and they said "Great!" So I went to this random branch and lo and behold they had an office and yes, they are cold calling merchants about business funding and asking for documents and being vague about offers.

If you don't qualify for anything (commercial line of credit or SBA), they offer you a daily ACH loan.

Not a joke.

[Chambo]

Sean has actually responded to on of these threads!!!

[WestCoastFunding]

Do you bank with Chase? I ask because I too once got a strange call from someone claiming to be from Chase. The phone # didn't trace back to Chase and they told me they wanted to fund my business so I played along. "What branch do you work out of?" - Not one I had ever been to. "Can you fund me if I have an MCA?" - Yes. etc etc.

I was going to write about it but decided to call Chase myself and my banker tells me that, yes, someone in their credit department had been assigned to me. This person, and others, just cold call lists of their clients that they think might be eligible based on their banking history. So I forgot all about it until a month later, I got called again from someone claiming to be from Chase (different person). I ask all about their rates and they couldn't tell me anything about the terms, cost, nothing, just told me to send them documents. I said, "oh yeah, why don't we meet at the branch first?" and they said "Great!" So I went to this random branch and lo and behold they had an office and yes, they are cold calling merchants about business funding and asking for documents and being vague about offers.

If you don't qualify for anything (commercial line of credit or SBA), they offer you a daily ACH loan.

Not a joke.

I don’t even know what to say. All I know is I’ll never have a problem with stacking Chase now.

[Sean Cash]

I don’t even know what to say. All I know is I’ll never have a problem with stacking Chase now.

They are being stacked and they know it. They told me that it has been an issue with Square and PayPal stacking their lines of credit, making it hard for them to increase lines when their clients request it. It's ironically the same story. Stacking is affecting their renewal book.

[Sean Cash]

Sean has actually responded to on of these threads!!!

Had to dust off my account lol.

[NoBigDeal]

Had to dust off my account lol.

Can you do something about the Peak Solutions thread?! It's completely gotten out of hand

[WestCoastFunding]

Hey chase, send me an ISO agreement.

[NoBigDeal]

Hey chase, send me an ISO agreement.

Wonder if it'll have a clause that states you can't talk smack about Chase..."OR ELSE" (in comic sans)

[FroFunds]

https://www.ondeck.com/news/ondeck-c...k-partnerships

OnDeck's technology/structure and Chase's money they are selling in-house I guess now? I wonder how poorly they pay their reps.

A friend of mine closed an $800k equipment deal working for Chase and his 'bonus' for closing the deal was $800.

[WestCoastFunding]

https://www.ondeck.com/news/ondeck-c...k-partnerships

OnDeck's technology/structure and Chase's money they are selling in-house I guess now? I wonder how poorly they pay their reps.

A friend of mine closed an $800k equipment deal working for Chase and his 'bonus' for closing the deal was $800.

So Chase is basically white labeling OnDeck?

[Sachip24]

i had a merchant tell me his bank (chase) was made him a offer on mca type of program once. I had no clue they were in this space so I thought it was complete bull..but it was legit.

[Kevin Henry-Seacoast]

This makes total sense. If Chase and other large banks that have lent money to ONDK have clients that are un-bankable, why not leverage their internal sales force at the bank to deploy capital though ONDK. If they have their business accounts it makes total sense.

Perhaps they finally woke up and said if we don't offer the client the ONDK product, the client may seek the product elsewhere.

Other banks that lend money to them will likely do the same and for them it makes total sense.

KH

PS: Our business bankers and commercial bankers offer our products to clients all the time and vice versa.

[WestCoastFunding]

Almost positive Wells Fargo whitelabels Yellowstone.

[jfeinberg]

No never have banked there. Wow Sean that's crazy! But I know 100% this guy is not from chase after research and one more call into him, I hear 5 other people say there name was Steve in the background, and unless they found the honey hole of hard working Steve's then its fake. When I called back he said send me your banks today not tomorrow or I don't want to work with you.

It just get's me fired up because it is really harming our industry as a whole having these types of calls occurring.

[Franklin]

https://www.ondeck.com/news/ondeck-c...k-partnerships

OnDeck's technology/structure and Chase's money they are selling in-house I guess now? I wonder how poorly they pay their reps.

A friend of mine closed an $800k equipment deal working for Chase and his 'bonus' for closing the deal was $800.

$60,000 a year plus commission, last I was told, which was a year+ ago.










www.UccRadar.com Come and Get it.

[jenk12]

This industry needs to be cleansed.

[fin4all]

This industry needs to be cleansed.

lulz