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02-11-2021, 11:07 AM #1
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
Biz2Credit aka Biz2Steal - Itria aka I-trick-ya or It8kya
BEWARE! I have been doing business with them for about 2 years.. great offers, cumbersome funding (lots of back and forth and lack of communication) and now they have renewed my merchant and funded an add-on in the last 60 days, but won't communicate with me to compensate me. My original ISO Rep is Corey Falkin (found out he left the company recently after many years there). The other person that handles my deals is Spencer Bailey.. he won't take my calls or answer emails. (to his credit, he did call me back one time, claiming he was so slammed with PPP and such.. which I sort of get. I have been trying since Jan 6th to resolve). I was given another name, Ruth Fabian, she responded to me a few times, but has stopped responding now. I emailed and called the owners, Rohit Arora and Ramit. No response yet, it's been a week or so. The rep that closed the renewal is Tom Moody (doesn't respond.. except for an email asking me if I was interested in an MCA....) really?!?!.
My ISO agreement is fully in force, no issues there.. so this is very disappointing.
If anyone in DF land can help with this, I would greatly appreciate itShannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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02-11-2021, 11:59 AM #2
- Join Date
- Feb 2019
- Posts
- 96
Why do I have the feeling your not telling the whole story??
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02-11-2021, 01:42 PM #3
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
Not much more to the story.. Yes, it had been awhile since I funded with them, which was Feb 2020.. then Covid. This particular merchant needed his payments paused for a while in March and April (which I facilitated). He recovered and obviously got back on track, as he was eligible for a renewal. I checked my ISO Agreement, I am fully entitled to compensation for all of merchants that renew/fund, etc. He had a balance when he renewed. I am heavily involved with PPP2 and was also during first round.. so I totally understand the frustration of having dozens and dozens of borrowers constantly emailing, texting, calling for updates... it's overwhelming... this is why I literally gave them over a month to respond and rectify. Some communication would go a long way here. I get that mistakes happen.. communication would be helpful. Been in this space for 12 years... I have many, many funders that renew my files and pay me as agreed... such as Ironwood, Mulligan, QuikStone, Rapid, Elevate, Coolidge, IOU... So many honest and good funders in our space.. would be nice to add Biz2Credit to that list.
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02-11-2021, 12:11 PM #4
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 474
...umm... they are slammed with this little project called the PPP... not sure if that has anything to do with it. LOL.
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02-11-2021, 12:56 PM #5
Ok. Here's my 2 cents.
First, this is something that unfortunately happens in the industry, and it sucks. Never ok. Good news is that now there are enough options across the board to be able to pick and choose who you allocate your business to and hopefully cultivate good relationships even after being burned.
With that said... you have to remember that the rules aren't cut from a structurally predetermined cloth; being an unregulated industry has its pros and cons. Each outfit is able to establish their guidelines as they see fit.
In regard to renewals, I've seen it executed in a few different ways.. one of which will retain file rights as long as there is an open balance. Should a file complete organically without the ISO attempting to renew, they are under the assumption that the file had been taken elsewhere and in turn return it to an "open market" policy whereas anyone would be able to resubmit at that point.
It's unclear with the details you've provided above, but initially this was my thought process on what may have happened.. but again, not enough to go off of. But I think this does reinforce the importance of an ISO's attention to detail when it comes to onboarding with new funders and keeping an organized reference key as to everything from submission requirements, renewal eligibility etc.
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02-11-2021, 01:46 PM #6
- Join Date
- Jan 2018
- Posts
- 519
all of those are fake names just so you know
the only real name is Corey Falkin
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02-11-2021, 03:25 PM #7
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
I have talked to Spencer many many times getting deals funded. Ruth is new to me..
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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02-11-2021, 03:50 PM #8
- Join Date
- Jan 2018
- Posts
- 519
real person just fake name
their overseas sales reps all use fake names. the US reps use real names.
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06-23-2021, 02:56 PM #9
- Join Date
- Nov 2013
- Posts
- 598
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02-11-2021, 04:08 PM #10
- Join Date
- Sep 2015
- Posts
- 122
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02-11-2021, 04:14 PM #11
- Join Date
- Aug 2016
- Posts
- 830
They have no communication , just keep trying to reach them.
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06-22-2021, 10:22 AM #12
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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06-22-2021, 02:59 PM #13
if you havent already, get creative, heres RA twitter https://twitter.com/RohitBiz2Credit , tag him and Forbes since hes a contributor
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06-22-2021, 09:52 PM #14
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
I like it! thanks
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06-24-2021, 08:29 AM #15
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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06-22-2021, 01:14 PM #16
- Join Date
- Jun 2017
- Posts
- 2,049
Nitin Arora is Tom Moody
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06-22-2021, 05:26 PM #17
- Join Date
- Jun 2015
- Posts
- 754
@Stellar
I believe that you are under the wrong assumption here.
You are under the assumption that you or your matter is still under the regular “giving a F status”, but what if you and your matter has fallen under the “we don’t give two Fs” policy?
What if, despite your post and trash talking, your matter still lays and remains under the “we don’t give two Fs” policy?
You need to learn what the corporate policies are, especially with these large and respected corporations.
You need to respect their corporate policies, for the good and for the bad.
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06-22-2021, 09:53 PM #18
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
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