Originally Posted by
ryan $
I hate brokers who just slingshot everything. I have a Box, if you send me files that fit that box ill give you 99% Approvals.
I offer Quick Approvals, Quick Funding, and only need DL, VC.
I will listen to stories. I won't just say "I'll take them into consideration" If I believe the Merchant, I'll fund the deal.
And when I say I do $2,500 - $7,500, i really prefer Maxing out at $5,000. Fees are reasonable. 20/30/40/50/60 Day Terms. 1.49 (Paying Ten) You can Put up to a 1.54 and get 15.
I am funding deals no one else is touching, Low Revenue, Low deposits, I don't have restricted industries, past defaults (Ill build them back into a normal deal, each renewal will get a longer term)
The brokers that stay on with me, are extremely satisfied, and submit deals daily. I try to limit the amount of ISO's I bring on because I never want to turn away a deal because we don't have the money. I remember in the beginning having to delay funding 24-48 hrs while we collected on another deal before we could fund new deals sitting in queue. Every few months we are looking to sign on a handful of ISO's....GROW WITH US! We started out with $50,000. And kept adding the profit from that original 50k, we aren't taking outside funding to fund deals. We/I maintain complete control, and don't have to answer to anyone.
I just want brokers who look at files, bank statements before sending them to me. Put simply.
We are working on a Portal, where Brokers HAVE TO provide the correct information, back out non-revenue credits, Provide a TRUE Volume, and Contracts are Generated at the time of approval. Funding in 1 hour. For now, It is up to the Broker to enter proper information, if it isn't correct that is when there are issues. That being said, we are working on Statement Analysis that will do it for you, along with Affiliate links, the goal is to provide a Merchant a Link, they use Plaid to Connect their Bank Account, Contracts are Generated on the Spot, can be E-signed , then funded inside of 5 minutes. I have a bit of experience as I made an algorithm for an Insurance Company that combed data and decided to pay on a claim or deny it, and how much to pay. It is similar. I am sure there will be bugs at the beginning, but fully automated is the goal. AND IT CAN BE DONE!
Funding Calls done using AI, Just to get the Merchant recorded agreeing to terms. I think we are building a pretty advanced system....the goal is TRULY to fund in 5 minutes or less, Application Entry>Link Bank>Generate Offer>Sign Docs>Fund - All Seamlessly. If Red Flags are triggered then it gets reviewed by a Human.
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