Buying Apps/Full Subs
Need a Funder or Vendor? START HERE

Results 1 to 8 of 8
  1. #1

    Buying Apps/Full Subs

    Sure sucks when your merchant gets a call from someone that :represents your company" and has contracts ready to go. Anyone have any tools or tricks to stop people buying apps?

    Also are we allowed to shame the brokers who are buying the apps on the forums, or does it happen so often that we wouldn't have enough members left?

    Does DF have the official data resellers list setup yet?

  2. #2
    redact sensitive contact information from application find out if anyone in your company is selling packages of apps and scrutinize your lender network
    The Rose Funder l 917.228.4970
    bander@therosefunder.com
    Highlands NJ 07732
    http://www.therosefunder.com

  3. #3
    Quote Originally Posted by Mjacob View Post
    Sure sucks when your merchant gets a call from someone that :represents your company" and has contracts ready to go. Anyone have any tools or tricks to stop people buying apps?

    Also are we allowed to shame the brokers who are buying the apps on the forums, or does it happen so often that we wouldn't have enough members left?

    Does DF have the official data resellers list setup yet?
    Hard to give an absolute on this BUT you can do a few things to lower that possibility. 1) reverse engineer who is leaking your merchants (seeded apps) 2) dont put contact information on apps 3) trim your funder network 4) rinse and repeat

  4. #4
    what do you mean by seeded apps?

    phone numbers and emails get redacted already

    I'm just more curious to see how others handle this, do you just throw your hands up in the air and accept this as part of the industry or is there better alternative?

  5. #5
    Senior Member Reputation points: 70961
    Join Date
    Jul 2017
    Posts
    548

    Quote Originally Posted by Mjacob View Post
    what do you mean by seeded apps?

    phone numbers and emails get redacted already

    I'm just more curious to see how others handle this, do you just throw your hands up in the air and accept this as part of the industry or is there better alternative?
    Seeded meaning use a 1 number per each lender on your app. If you get a call on that number you know whos backdooring your subs.

  6. #6
    Senior Member Reputation points: 307559
    Join Date
    Jun 2015
    Posts
    3,323

    lets say my merchant name is mjacob from texas . Go make a google voice texas number and an email mjacob@yahoo.com and send it only to one funder you suspect and wait and see . do this to all with diff apps keep yourself a spread sheet so you find out who it is . If it is one of your reps it is alot harder and you need to put the right technology in place .

    side note when you get call and responses dont start cursing etc. have fun and string them along for months

  7. #7
    wow thanks! this will for sure help out

  8. #8
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,318

    Quote Originally Posted by Michael I View Post
    side note when you get call and responses dont start cursing etc. have fun and string them along for months
    This takes enormous self control but well worth it.

Similar Threads

  1. Today's Subs = Tomorrow Funds
    By Bank in forum Promotions
    Replies: 16
    Last Post: 09-25-2017, 12:01 PM
  2. Buying a Fed EX Route
    By Money2Fund in forum Deal Bin
    Replies: 3
    Last Post: 06-21-2017, 07:07 AM
  3. Leads with apps
    By nateteabs in forum Deal Bin
    Replies: 2
    Last Post: 12-11-2015, 10:58 PM
  4. # of apps - # of declines
    By PledgeCap- A.E. in forum Promotions
    Replies: 0
    Last Post: 04-13-2015, 03:55 PM
  5. WBL is buying up iso's
    By isaacdstern in forum Merchant Cash Advance
    Replies: 9
    Last Post: 07-20-2014, 06:45 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Lendistry welcomes new CFO
LegalZoom partners w/ businessloans.com
iBusiness Funding acquires Funding Circle


DIRECTORY