Results 1 to 25 of 32
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05-02-2019, 04:58 PM #1
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- Apr 2017
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- 66
Another one bites the dust..
Quarterspot, no longer funding. This was expected but yeh..
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05-02-2019, 05:05 PM #2
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- Dec 2013
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- 4,713
Stock up on the popcorn ....
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
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Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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05-02-2019, 05:16 PM #3
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- Jun 2018
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- 462
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05-03-2019, 09:13 AM #4
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- May 2018
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- 158
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05-03-2019, 10:43 AM #5
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- Dec 2013
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Mantis keeps growing however to be honest its hard to know if its the markets appetite fueling the growth or other funders pulling back ?
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
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Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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05-03-2019, 11:45 AM #6
LINK TO STORY
Originally Posted by GlobeNewsWireAnthony Diamond
Underwriter
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05-03-2019, 12:33 PM #7
- Join Date
- May 2016
- Location
- San Francisco & New York City
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- 75
I called Quarterspot because I was curious about all the back and forth on Dailyfunder.
I spoke with the Quarterspot team yesterday around Noon ET. I was told directly that they're still funding, but are about 24-48 hours slower between approval to cash wired.
Would love to hear a source for "no longer funding".
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05-03-2019, 12:46 PM #8
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- Dec 2013
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- 4,713
Interesting indeed. I wonder than why the delay? Do they need to get approval and a buyer of the note ? ..not speculating i'm simply asking >?!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
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Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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05-03-2019, 12:46 PM #9
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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05-03-2019, 12:48 PM #10
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- Oct 2018
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- 72
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05-03-2019, 01:02 PM #11
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- May 2016
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- San Francisco & New York City
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- 75
They were not willing to share this information with me. I understand all of the context around the rumors.
And Quarterspot isn't necessarily incentivized to tell me the truth. That's why I'd like to understand real sources, i.e. was an ISO told directly by their rep at Quarterspot that they're no longer funding?
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05-03-2019, 01:08 PM #12
- Join Date
- Mar 2015
- Location
- Boynton Beach
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- 3,484
Matt,
I don't know anyone there that would be able to confirm if they are funding or not, but from the court documents filed....this is not a pretty case in receivership. It seems management helped their lender by inflating returns. The fund that was lending to them is now in receivership. Considering the receivership happened sometime in April, I highly doubt they found a new line that quickly. Considering they were mentioned in the court documents inflating returns, they might have a difficult time finding a new lender. Perhaps they have partnered with another funder on deals, but they may need the receiver's permission to do so.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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05-03-2019, 01:24 PM #13
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- Dec 2013
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- 4,713
Kevin may be onto something ..Lets put it like this if a funder was implicated in fudging the numbers and they were a publicaly traded company the stock would be doing a cat bounce by now. (i am in no way saying QS was involved in fudging numbers)
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
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Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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05-03-2019, 01:31 PM #14
My rep says they are funding, we have a renewal in the works with them right now that we just started today. I can update once I see how they process this one.
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05-03-2019, 01:32 PM #15
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- Dec 2013
- Posts
- 4,713
Advanced Smart has been in the space for a very long time his update will be on the money!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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05-03-2019, 01:33 PM #16
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
READ THE COURT DOCUMENT!
Specifically, the SEC alleged that Brendan Ross (“Ross”), DLI’s owner and then-chief executive officer, arranged with QuarterSpot to falsify borrower payment information for QuarterSpot’s loans and to falsely report to DLI that borrowers made hundreds of monthly payments when, in fact, they had not. The SEC alleges that many of these loans should have been valued at zero, but instead were improperly valued at their full value.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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05-03-2019, 01:35 PM #17
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- Dec 2013
- Posts
- 4,713
yep based on that its does not seem like it can end well.
Last edited by mcaguru; 05-03-2019 at 01:38 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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05-03-2019, 02:58 PM #18
- Join Date
- Jun 2018
- Posts
- 13
Quarterspot funded my deal today after merchant completed online agreements last Friday 4/26/19. They lowered my commission for no given reason and took 1.5% for themselves (from the already low 6% max upsell) delete this.png
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05-03-2019, 03:03 PM #19
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 727
Quarterspot was one of those honest funders right?
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05-03-2019, 03:08 PM #20
- Join Date
- Jun 2018
- Posts
- 13
Upate
CapitalF: Nice job on getting this done, but you guys should be paying me 6% on this one.
QS: We should but we couldn’t. We will pay you an extra 2 points on your net two deals to make up for this.
IMO If a funder can not give a specfic time of when the deal will move forward after all requested stips are in, or the ISO rep doesn't know why a deal is delayed 3 days, that funder will not be able to sustain ISO business.
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05-03-2019, 03:11 PM #21
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- May 2016
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- San Francisco & New York City
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- 75
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05-03-2019, 06:14 PM #22
Thank you Marcus, anytime Matt. It looks like CapitalF had a deal fund with them today. Ill update asap.
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05-03-2019, 06:30 PM #23
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05-03-2019, 06:44 PM #24
- Join Date
- Aug 2016
- Posts
- 486
Damn, seeing what you all make on deals makes it look so enticing to get into this business.
But like with most things... The success looks really really good, when I don't know the process!!
But dang lets say you could do this a week, 3622.50 x 52 = $188,377.
I am sure some of you all of doing this 3 or 4 time a week..
Jesus Christ... I maybe working to hard, and have to much overhead, compared to how you guys are crushing it.
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05-06-2019, 09:52 AM #25
- Join Date
- Dec 2017
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- 238