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  1. #1

    Banned list

    Is there a list of banned merchant who basically go and try to steal from funders and if so how would I receive it

  2. #2
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    Isn’t that what DataMerch attempts to do?

  3. #3
    Senior Member Reputation points: 35870
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    Datamerch. Although its not always so accurate. Ive seen a lender put a merchant on it becuase they stopped payments for a week, and then that same lender renewed the merchant a month later. But for the most part its pretty accurate.

  4. #4
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    Quote Originally Posted by Showmethemoney View Post
    Is there a list of banned merchant who basically go and try to steal from funders and if so how would I receive it
    Quick rundown, hope it helps.

    NY Court Search (free): shows filings against businesses, also can search by merchant name (most important) so if its another business of theirs you can catch it.

    DataMerch ($): limited number of funders use it. I'm not sure what % use it to take data vs give data and it is ripe for potential manipulation (not saying it is, we've used it with good success) but it leaves it to a *funder (not "lender" @MCN) to decide what they consider a default. And no one is confirming the truth so you could hypothetically post your best merchants so no one else funds them. (Would fail because you see repeating payments and we use them to good success, but again the possibility is there). MOST importantly, for good legal reason, DataMerch is ONLY the business so a merchant who's defaulted and now has a new business to try and defraud you, DataMerch won't help if you are new victim #1

    UCC filings (Free): Helps on personal and business to see if there's a lien you can inquire about.

    TLO/Clear ($): Background checks that show leins/judgements against people, businesses, as well as known connected entities, potential entities by addresses and potential aliases (super helpful if its a person who changes their name to rip you off on a new entity)

    I think, not sure, that the SBFA may have a list similar to DataMerch. Might be another organization though.

    And Google, some funders get pissed and leave reviews that either straight up post what happened or will say things like "this business doesn't pay their bills."

    Hope that helps!
    Last edited by SFC; 02-17-2020 at 09:59 PM.

  5. #5
    Yes thanks so much

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