[fdecelle]

Does anyone know anything about these guys?

I have a merchant telling me they have a 1.12 offer from them with weekly payments over 12 months.

The merchant has multiple NSFs and the file is a little messy overall.

[HDF]

Does anyone know anything about these guys?

I have a merchant telling me they have a 1.12 offer from them with weekly payments over 12 months.

The merchant has multiple NSFs and the file is a little messy overall.

Your instincts will lead you in the right direction. Think, think, think....

[fdecelle]

Your instincts will lead you in the right direction. Think, think, think....

I mean yeah, I obviously think it’s a fugazi. Just wanted to see what kind of other feedback I got.

[fdecelle]

Yeah - they basically gave him a fake offer then wanted him to sign a fee sheet before they even sent him the contract for the 50K "offer" Horrible.

[giveme]

Premium Merchant Funding - Pretty sure they are brokers.

[Jayson Yunason]

They’re a broker who probably gets better offers than you
Work on relations with funders are you’re good - don’t go to hard quantity wise with funders cuz you’ll just get stolen from but if you keep a small knit crew and know where to send your paper you’ll be just fine

[Nunya]

Very solid brokers

[pcfunder]

great broker shop they probably figured out a way to get that offer

[Sachip24]

Yeah - they basically gave him a fake offer then wanted him to sign a fee sheet before they even sent him the contract for the 50K "offer" Horrible.

We are a very large brokerage one of the largest..and also lend our own money if we want. Many on this forum have done business with us and with me personally. and yes we are able to make that offer to x client and do have solid relationships to get it done. We have 6 offices over 350 reps working at our firm. If you need more info feel free to PM me.

[cmarks]

We are a very large brokerage one of the largest..and also lend our own money if we want. Many on this forum have done business with us and with me personally. and yes we are able to make that offer to x client and do have solid relationships to get it done. We have 6 offices over 350 reps working at our firm. If you need more info feel free to PM me.

i would think 6 offices and 350 reps is the largest, whos larger?

[fdecelle]

The offer was bull**** and they wanted to charge him a fee before even sending contracts. All bull****.

[Sachip24]

The offer was bull**** and they wanted to charge him a fee before even sending contracts. All bull****.

To be the President of a company you sure do not act like one coming on here and bashing a well known firm. If you stop and think for a second at the pricing you mentioned on that offer for x client you would realize its obvious they do not pay commission hence debt fee agreement is signed prior to funding. Instead of coming on here bashing a company you know nothing of you should try to establish better relationships with your lenders you use. Again if you need more info on us feel free to PM me.

[fdecelle]

To be the President of a company you sure do not act like one coming on here and bashing a well known firm. If you stop and think for a second at the pricing you mentioned on that offer for x client you would realize its obvious they do not pay commission hence debt fee agreement is signed prior to funding. Instead of coming on here bashing a company you know nothing of you should try to establish better relationships with your lenders you use. Again if you need more info on us feel free to PM me.

The contracts they sent him ended up being for 30K 1.45 80 payments. It was a bull**** offer. I have no need to PM you.

[stackcity_4208]

To be the President of a company you sure do not act like one coming on here and bashing a well known firm. If you stop and think for a second at the pricing you mentioned on that offer for x client you would realize its obvious they do not pay commission hence debt fee agreement is signed prior to funding. Instead of coming on here bashing a company you know nothing of you should try to establish better relationships with your lenders you use. Again if you need more info on us feel free to PM me.

sign a fee before contracts. Now that is fugazzi. Its the bait and switch tactic

[abfunders]

Stackcity, you're clearly an MCA sales guy and that's all you do. I personally prefer fee agreements before offers. That way if the client likes the offer, they can take it or leave it. That's how all mortgage brokers work. I've done that with factors and real estate myself. If it bait and switch, then they know my extra fees.

Bait and switch is getting them excited, getting them contracts, then dangling it in front of them and convincing them to sign a 7% PSF prior.

As long as PMF's fee agreement didn't lock them into some sort of exclusivity agreement (which I doubt it did), then it's more legit than last-minute PSFs.

[BillionzandBillionz]

sign a fee before contracts. Now that is fugazzi. Its the bait and switch tactic

I agree that is BS, if they are paying upfront, that is not cool.

why would anyone pay a fee before funding, sounds like a scam to me me. This is the kind of tactic that people who are BROKERS but pretend to be FUNDERS use, because a guy like JoeMainst AKA JOEBROKER knows you are going to realize that the contract is whitelabeled so they charge the fee upfront.

And chances are if the deal dies, they will keep the fee, thats BS and not fair to merchants.

Becareful who you sign up with. If they are on here asking for ISO agreements and then they tell you they can fund anything. What does that tell you?

[Michael I]

big difference if they are asking him to sign a fee page before contracts that will only be charged once funded or to a charge a fee before regardless of funding.

[stackcity_4208]

Stackcity, you're clearly an MCA sales guy and that's all you do. I personally prefer fee agreements before offers. That way if the client likes the offer, they can take it or leave it. That's how all mortgage brokers work. I've done that with factors and real estate myself. If it bait and switch, then they know my extra fees.

Bait and switch is getting them excited, getting them contracts, then dangling it in front of them and convincing them to sign a 7% PSF prior.

As long as PMF's fee agreement didn't lock them into some sort of exclusivity agreement (which I doubt it did), then it's more legit than last-minute PSFs.

signing a professional service fee before you present agreements to a merchant is absurd!!! (Crooks do that)

Now if you are helping them with the following:

-Fix Personal Credit
-Switch processing to save them money
-Help with website and SEO to have a stronger online presence and draw traffic to webiste

Than I can understand a PSF upfront for services rendered!!!

If this PSF is presented upfront first to be signed and a weak pre qual pre approval is given to bait the merchant, than I can say that is totally wrong. Unethical practices like this makes merchants leary about doing business over the phone with brokers and or real funders!!!

These practices are criminal:

[abfunders]

What Michael says is true, and I assumed that PMF isn't playing games like that, and they don't have to pay on "approved amount." Until the fee sheet is shown, I'm going to say innocent until proven guilty.

[stackcity_4208]

big difference if they are asking him to sign a fee page before contracts that will only be charged once funded or to a charge a fee before regardless of funding.

old school agents send the fee with agreements, and real agreements not bait and switch agreements. Not a $50k offer at a 1.12 with multiple NSF's and weekly payments!!! Get the fee signed and hold on to it. Than change the offer to the real qualified offer of $30k 80 payments at a 1.45

What do we call these practices in any sales environment?

[BillionzandBillionz]

old school agents send the fee with agreements, and real agreements not bait and switch agreements. Not a $50k offer at a 1.12 with multiple NSF's and weekly payments!!! Get the fee signed and hold on to it. Than change the offer to the real qualified offer of $30k 80 payments at a 1.45

What do we call these practices in any sales environment?

the same thing you call someone that tells you they can fund ANYTHING, NO RESTRICTIONS. and then in the same breath is on here asking for ISO agreements. ( JoeBroker )

[Michael I]

old school agents send the fee with agreements, and real agreements not bait and switch agreements. Not a $50k offer at a 1.12 with multiple NSF's and weekly payments!!! Get the fee signed and hold on to it. Than change the offer to the real qualified offer of $30k 80 payments at a 1.45

What do we call these practices in any sales environment?

old school ? as in before the doc u sign days ? again if they is any fee charged before or a bait and switch than i agree with you . otherwise i see nothing wrong with getting it signed before if it is a funder that takes over and doesnt pay

[stackcity_4208]

the same thing you call someone that tells you they can fund ANYTHING, NO RESTRICTIONS. and then in the same breath is on here asking for ISO agreements. ( JoeBroker )

why don't you go look for the (joebroker) and call him directly. I have no idea who JoeBroker is. 8 funding days left in the month. Hopefully you use it wisely

[BillionzandBillionz]

why don't you go look for the (joebroker) and call him directly. I have no idea who JoeBroker is. 8 funding days left in the month. Hopefully you use it wisely

his real name is JoeMainst, but i changed his name to JoeBroker.

Just hate people that are on here scamming everyone else, then you send them a deal and you get screwed out of your money. It has happened to me way too many times with a bunch of different people doing the same thing and i think it's fair to point out when someone is doing this.

[stackcity_4208]

his real name is JoeMainst, but i changed his name to JoeBroker.

Just hate people that are on here scamming everyone else, then you send them a deal and you get screwed out of your money. It has happened to me way too many times with a bunch of different people doing the same thing and i think it's fair to point out when someone is doing this.

I know a Joe at main Street Capital. If thats what you mean