Results 1 to 25 of 28
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02-16-2021, 05:21 PM #1
- Join Date
- Sep 2020
- Posts
- 52
Datamerch
How do i sign up for datamerch? im tired of submitting files and get datamerch declines, id rather know ahead of time
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02-16-2021, 05:39 PM #2
- Join Date
- Apr 2018
- Posts
- 178
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02-16-2021, 05:50 PM #3
- Join Date
- Sep 2020
- Posts
- 52
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02-16-2021, 05:54 PM #4
- Join Date
- Dec 2016
- Posts
- 379
My contacts there are:
swilliams@datamerch.com
cburgess@datamerch.com
Scott is the main guy I think, he generally answers within the hour.
It's $495/month by the way.
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02-17-2021, 11:10 AM #5
- Join Date
- Mar 2019
- Posts
- 105
I am primarily a broker and I use datamerch daily. Well worth knowing if I am wasting my time for the money.
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02-17-2021, 11:32 AM #6
- Join Date
- Jun 2015
- Posts
- 3,325
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02-17-2021, 12:20 PM #7
- Join Date
- Dec 2016
- Posts
- 379
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02-17-2021, 01:55 PM #8
- Join Date
- Sep 2019
- Posts
- 402
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02-17-2021, 01:56 PM #9
- Join Date
- Sep 2019
- Posts
- 402
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02-17-2021, 02:18 PM #10
- Join Date
- Mar 2019
- Posts
- 105
Lol no i dont use it for leads. I'm a 3 man shop. No admin so that means when I think I have a clean deal I have to submit to a few portals, which means time I am on the phone.
A quick datamerch search can save 20 minutes or so.
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02-17-2021, 04:03 PM #11
- Join Date
- Jul 2017
- Posts
- 130
Datamerch is one of my first checks on a Submission, if a merchant is on there for anything substantial it's game over and move on
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02-17-2021, 04:30 PM #12
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- Sep 2020
- Posts
- 52
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02-17-2021, 05:13 PM #13
- Join Date
- Jun 2015
- Posts
- 3,325
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02-17-2021, 05:16 PM #14
- Join Date
- Sep 2020
- Posts
- 52
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02-17-2021, 05:19 PM #15
- Join Date
- Sep 2020
- Posts
- 52
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
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02-17-2021, 05:42 PM #16
- Join Date
- Dec 2016
- Posts
- 379
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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02-17-2021, 05:46 PM #17
- Join Date
- Jun 2015
- Posts
- 3,325
Biggest issue is there is no penalty for a funder that funds someone they themselves put on datamerch
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02-17-2021, 06:59 PM #18
- Join Date
- Sep 2019
- Posts
- 402
Not really an issue though. You see which funder left the review and you can see if they are in the deal... If the merchant is still paying them and yet they've left a recent note on DataMerch theyre prob full of it.
You learn relatively quickly which funders add merchants for which reasons and learn what to discount.
Would be nice if you could just filter out certain types of funders notes though once you realize which are BS.
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02-18-2021, 09:47 AM #19
- Join Date
- Jun 2017
- Posts
- 2,049
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02-19-2021, 11:24 PM #20
- Join Date
- Jan 2019
- Posts
- 25
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02-20-2021, 10:39 AM #21
- Join Date
- Apr 2015
- Posts
- 300
if your a funder not using data merch are really a funder at all
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03-03-2021, 05:21 PM #22
- Join Date
- May 2019
- Posts
- 74
Data merch is solid AF! saved us countless problems - well worth the investment.
Last edited by excelcap; 03-03-2021 at 06:12 PM.
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03-04-2021, 11:45 AM #23
- Join Date
- Jun 2017
- Posts
- 2,049
I personally think DataMerch is complete bull****. MANY MANY MANY times lenders or even brokers will list merchants in DataMerch as default, fraud, ect and it turns out to be completely false, they just want to deter others from taking their customers.
It is complete bull****. Nothing irritates me more than a file being declined for being in DataMerch for a default, but there are no UCC's or Court Records to back it up. Ive even gona as far as to provide a year worth of statements and literally shown lenders they never missed a payment and paid off in full. You can see the entire advance in the statements, perfect pay history, but like UNDERWRITING ROBOTS with no critical thinking, No we must decline, listed in DataMerch. Im showing you its bull****..... seriously?
thankfully plenty of lenders dont use datamerch period.
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03-04-2021, 11:47 AM #24
- Join Date
- Jun 2017
- Posts
- 2,049
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03-04-2021, 12:27 PM #25
- Join Date
- Jun 2015
- Posts
- 3,325
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