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  1. #1
    Senior Member Reputation points: 305505
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    Quote Originally Posted by ryanh View Post
    I am primarily a broker and I use datamerch daily. Well worth knowing if I am wasting my time for the money.
    curious what kind of submission flow you get that it is worth it? doesn't it take same amount of time to submit than to check ?

  2. #2
    Quote Originally Posted by Michael I View Post
    curious what kind of submission flow you get that it is worth it? doesn't it take same amount of time to submit than to check ?
    Checking on Datamerch is super simple. Just plug in the last 7 of the EIN into the search and that's it. For bonus tips, also run the last 7 of the SSN since sometimes you'll find they defaulted under that as a sole prop as well.

  3. #3
    Senior Member Reputation points: 91418
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    Quote Originally Posted by Michael I View Post
    curious what kind of submission flow you get that it is worth it? doesn't it take same amount of time to submit than to check ?
    Probably thinks you can get leads out of it.

  4. #4
    Quote Originally Posted by Michael I View Post
    curious what kind of submission flow you get that it is worth it? doesn't it take same amount of time to submit than to check ?
    our leads go from interest-statements in-app signed-submitted. checking every merchant at the front door can save us hours of work!

  5. #5
    Senior Member Reputation points: 305505
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    Quote Originally Posted by Josh1810 View Post
    our leads go from interest-statements in-app signed-submitted. checking every merchant at the front door can save us hours of work!
    yeah but correct me if i am wrong you need social or tax id to check. so it only saves last step not to submit

  6. #6
    Quote Originally Posted by Michael I View Post
    yeah but correct me if i am wrong you need social or tax id to check. so it only saves last step not to submit
    most of our leads have ein

  7. #7
    although I've heard that some funders will lock up a client by putting him on datamerch with a bogus claim... kind of like the beginning of covid, where all payments were lowered even when the merchant didnt ask for it, and they immediately became "lowered payments" lol

  8. #8
    Quote Originally Posted by Josh1810 View Post
    although I've heard that some funders will lock up a client by putting him on datamerch with a bogus claim... kind of like the beginning of covid, where all payments were lowered even when the merchant didnt ask for it, and they immediately became "lowered payments" lol
    ehh. Not really sure how much I agree with that still being the case. It's pretty standard to see accounts w/"COVID-19 Hardship" being selected on there. Most of those postings are nearly a year old at this point and I know, personally, it doesn't make any difference whether or not I'll fund them this far down the line.

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