[davidmel]

Hey all - just joined and looking forward to getting to know some of you.

I'm wondering if anyone knows of a high risk lender comparable to Vader that can do soft pulls for soft offers. Hard pull going into contract phase is fine. Vader is hard pull only which kills a lot of applications for me but I can't seem to find anyone else that can offer funding to merchants like them.. something like the following:

1. Accept monthly deposits as low as $3k or even $5k would be great.
2. Funds a few month old businesses.
3. 475+ credit

#1 is really the biggest thing I'm looking for.

Thanks in advance!
David

[Finance Guru]

Welcome!

[DTFdowntofund]

Hey all - just joined and looking forward to getting to know some of you.

I'm wondering if anyone knows of a high risk lender comparable to Vader that can do soft pulls for soft offers. Hard pull going into contract phase is fine. Vader is hard pull only which kills a lot of applications for me but I can't seem to find anyone else that can offer funding to merchants like them.. something like the following:

1. Accept monthly deposits as low as $3k or even $5k would be great.
2. Funds a few month old businesses.
3. 475+ credit

#1 is really the biggest thing I'm looking for.

Thanks in advance!
David

Lot of red flags on that file when looking it from a lender perspective. How many deposits monthly, and how are their ledgers? With them in biz only a few months too you might want to direct them to a credit repair avenue and advise them to keep healthy balances and try again in a few months. The only funding houses I know of that accept 6 months in biz(ish) generally only do restaurants or retail so the industry type might add to the difficulty here.

[SFC]

SuperFast Capital... give Joe a shout Joe@superfastcapital.com

[Lmonus]

When it comes to the super small files with sub 500 credit that need 2-4k in fundings, theres a handful of ISO reps here who will take that pipeline on. Feel free to reach out and ill have one of the guys board you and hopefully get some wheels turning.

5k per month and decent daily balances is probably the lowest qualifications we will need to submit a file. Credit score isn't so important. (We do Soft Pulls)

[Get It Done]

Bitty Advance? not sure how they pull credit though.. 400+fico, 5k min deposits. all industries

[davidmel]

SuperFast Capital... give Joe a shout Joe@superfastcapital.com

Hey - you guys require 10k up in monthly deposits though, correct?

[davidmel]

Bitty Advance? not sure how they pull credit though.. 400+fico, 5k min deposits. all industries

Thank you! I'll reach out to them to find out.

[davidmel]

When it comes to the super small files with sub 500 credit that need 2-4k in fundings, theres a handful of ISO reps here who will take that pipeline on. Feel free to reach out and ill have one of the guys board you and hopefully get some wheels turning.

5k per month and decent daily balances is probably the lowest qualifications we will need to submit a file. Credit score isn't so important. (We do Soft Pulls)

Thanks for the info. We are looking for direct lenders to submit to as we are an ISO ourselves. If you know of any that accept $5k in deposits without a hard pull to generate soft offers between 2-4k, then I'd be grateful to hear them! Thanks!

[SFC]

Hey - you guys require 10k up in monthly deposits though, correct?

Nope!

[SantiFunder]

I know Bitty is charging a monthly maintenance fee now so keep that in mind. Another option I use alot is Vader, they do 4k avg dep/475 credit and one month in business minimum.

[MCN]

There are a few good ones besides Vader, but lately been primarly using SuperfastCapital. Their fast as hell!

[abfunders]

There are a few good ones besides Vader, but lately been primarly using SuperfastCapital. Their fast as hell!

So I'd love to sign up with Superfast Capital, but it's a weird thing to ask for a SSN on an ISO rep application unless you're a larger shop, don't you think? I don't have anything to hide, but very few funders are asking for that these days. I'd like to hear some other feedback from members with a bit more rep before signing up?

[mcaguru]

Are they not the funding floor ? and just an exchange? or am i seeing another company with same name ?

[SantiFunder]

So I'd love to sign up with Superfast Capital, but it's a weird thing to ask for a SSN on an ISO rep application unless you're a larger shop, don't you think? I don't have anything to hide, but very few funders are asking for that these days. I'd like to hear some other feedback from members with a bit more rep before signing up?

Yeah, that is strange unless they're pulling credit?

[abfunders]

Yeah, that is strange unless they're pulling credit?

I'm sure they're not pulling credit. At most they may be doing background checks, which I doubt as well. So why ask for it?

[SFC]

Are they not the funding floor ? and just an exchange? or am i seeing another company with same name ?

We are not Cresthill either. We are SuperFast Capital.

[SFC]

Feel free to reach out directly. With everything going on in the space, knowing who you are working with from a Funders perspective is going to be the best way to stay ahead of regulations. Asking for SSN ensures that we know who are partners are and that we aren't working with people who've committed serious fraud in this industry or on other people. Certainly happy to provide references.

[Kevin Henry-Seacoast]

I'm sure they're not pulling credit. At most they may be doing background checks, which I doubt as well. So why ask for it?

It may be in their operating agreement or agreements with lenders/investors that if they are using brokers to obtain deal flow they must credit check or do back ground checks on the broker.

[fundingfloor]

We are not Cresthill either. We are SuperFast Capital.

You are not The Funding Floor. Please do not use our name. Thank you.

[SantiFunder]

I'm sure they're not pulling credit. At most they may be doing background checks, which I doubt as well. So why ask for it?

Nowadays you don't need SSN to pull a background so it is odd. I wouldn't give mine out. There are enough lenders out there that don't ask for it to sweat one.

[SFC]

Certainly not ones that put out offers as quick as we do or that have online checkout for your merchants! But yup, there's no shortage of funders in MCA.

[mcaguru]

Certainly not ones that put out offers as quick as we do or that have online checkout for your merchants! But yup, there's no shortage of funders in MCA.

if everyone is too quick there will be a shortage LOL

[DTFdowntofund]

Nowadays you don't need SSN to pull a background so it is odd. I wouldn't give mine out. There are enough lenders out there that don't ask for it to sweat one.

This.

[abfunders]

Okay, so after being transparent, they've won my trust. They know me from here, they let me wiggle out of giving over my SSN. I sent them a deal, and it's actually a very good offer considering the client has a horrific criminal background and a restricted SIC code. I actually even tested them to see if they knew about the negative background - they say no stips, wanted to know how far that goes. (I wouldn't let them fund without knowing about it, and they did, and they are comfortable with it, 1,49/90.) Let's see what the client wants, but they appear to be the real deal. I like the model they're using with no buy rate, just 10 points built in - just makes everything so much faster, and if it closes as-is, great, if not, then onto the next one.