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04-06-2021, 10:16 AM #1
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- Apr 2020
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- 191
I am not going to go through this whole thing, people can make their own decisions but basically this whole essay's point is that you have no proof that you fund deals regularly and you admitted you broker out ISO submissions on occasion. Maybe you end up being a great funder, I hope so, I wish you best of luck, and I look forward to it.
here is what interests me: Everyone has power of attorney on their contracts, and you are funding high risk deals so there are several people with Power of attorney before you. No-one honors the power of attorney, not a bank, not a processor, noone. which is why I doubt that you are collecting with this POA clause. Very questionable. I am curious as to how you use power of attorney to collect.
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04-06-2021, 11:31 AM #2
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- Jun 2017
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- 2,049
I have come to the conclusion, Your just an Idiot. I am being 100% Transparent and honest, and your zeroing in on certain things like "You said you broker out ISO submissions on occasion" Wtf are you talking about? Stop twisting what I'm saying. In reality I Broker out ISO Submissions EVERY SINGLE DAY. And have been doing so for almost 2 decades. There are 2 sides to my business, the Broker Side which I have been doing for 17 Years now. And the In House Funding side which I have been slowly getting more involved with year after year, started out Syndicating a while back, Funded a few of my own deals here and there, started providing in house offers to submitted files....on the broker side. Then took things a step further and signed on a few iso's here and there on the In House Funding Side. If you submit it to the In-House lending side, you will get an In-House offer, and once in a blue Ill suggest we try somewhere else (If it is obviously in the Broker who submitted the file's best interest, and if they agree i'll send it out, Never without permission - SO DON'T TWIST WHAT I AM SAYING - but 99.9 Percent of the time you will get an In-House offer or decline.
Let's just go down the History Books....
Yellowstone, Super Broker turned Super Funder
Paramount Merchant Funding (One of the Largest ISO's) - Is now Fora Financial
Uplyft Capital - Broker turned Funder (Also retains an Inside Sales Team)
Merchant Cash and Capital (Funding Side)& Next level Funding(Broker Side), Which eventually became Bizfi
Vital Started on Strategics Platform, Prior to Building their own
And that is just whom i can think of off the top of my head.
As for the Power of Attorney, Sure I've seen a Paragraph or something, I'm told our Addendum is alot stronger and more enforceable....but I am happy with the suggestions made by the collection firm we use, they came highly recommended from other funders I trust whom have let me see their collection numbers, and I am more than comfortable with our choices, the collection firm, the additions to our contract, and everything so far. I mean ****, maybe time will prove that you actually knew what you were talking about and we will have to adjust, pivot, and go a different route for collections.... but that is what GROWING involves.
I've never said I am something I wasn't nor tried to hide or not disclose anything I am doing. If ISO's want to Sign up and get In House deals only, that is what we are looking for. On the off chance i get a file that I feel sending it somewhere else will benefit everyone involved, I may make that suggestion, at the time the ISO can choose what they want to do, or make it clear they only want In House offers and tell me to shut the **** up, that is their choice, why they would rather have a 10k Offer over 30 Days when i see a Possibility for a regular deal, much higher dollar amount and much higher commission..... who knows.
That being said Brokers, Funders send me Files. I sometimes Co-Broker. There are relationships people have that I don't and relationships I have that others don't. I'm open with everyone, and have Indulged you for longer than I care to.
Want proof I fund? Send a file and fund it - then ask the merchant for a MTD.Last edited by ryan $; 04-06-2021 at 11:37 AM.
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04-06-2021, 12:22 PM #3
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- Apr 2020
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- 191
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04-06-2021, 03:20 PM #4
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- Jun 2017
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I see you erased a comment, there was something about me saying if a deal is too big for me, Ill send out to get Syndication partners on. And your comment was "So you still broker?"
Apparently you don't know how Syndicating works, People who Syndicate with me, Alot are not even in the Industry, many are Employees here as we offer employees a chance to participate, however there are entire funding companies that fund deals with only Syndicators, and NONE of their own money. We don't send files out to Syndicators, we sent Type of Business, Year in business, a Summary of their past 3 Bank Statements, showing them Neg Days per month, Avg Balance, Positions, Daily pulls, and some other stuff, but all it is is a Snapshot from the Business, along with what we Approved them for and what % is available for Syndication. SYNDICATION IS IN NO WAY THE SAME THING AS BROKERING A FILE OUT - Maybe some shady ISO's fronting as "Syndicators" have implied THEY are Syndicating on another Funders deal, when all they do is Broker it out. However we Operate the other way, We get Syndicators Into Our Deal, on our Paper...You really seem to only have a Basic Understanding of how this Industry works.... Chances are when you see a High Risk Deal, with 6 Positions, One guy has Syndicated on 3 of the Positions, and One group is responsible for 2 of them (Under Different Names of Course). Not mentioning names, but people who fund deals will know who I'm talking about. ESPECIALLY WHEN YOU GET INTO DEFAULT DEALS!
Furthermore in regards to collection, We use Standard collection Practices, on Default Deals we have what amounts to a COJ, without being a Confession of Judgement, i'll leave it at that.
And if you don't know how collections companies attempt to collect, you need to be in a new line of business. Banks, Processing Companies, Factoring Companies, Receivables, any way we can.... but again, we Outsorce a Collection/Legal team. I am great at Funding Deals, Not Collections, If you were an ISO and wanted to know our collection process I'd gladly put you in touch with someone who handles that who can answer all your questions..... but since your just some jackass on DailyFunder......
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04-06-2021, 03:33 PM #5
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- Apr 2020
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- 191
you have what amounts to a COJ without it being a COJ? Please show us a court case where you used this and got a judgement without a COJ. Or at least tell us what state you file in and your entity so that we can look it up ourselves. Would love to see it.
I am not asking you for advice, I am calling out something that makes Zero sense and sounds like BS; but keeping an open mind. You are being very defensive and aggressive.
Funny how I have witnessed you calling out many people over the years on this forum but when its your time to answer questions you expect everyone to just listen to your complex stories of how you fund but have no proof of it and when I have a follow up question you call me a jackass. Not very professional of you.
We have every right to ask questions especially when you are on here soliciting your services.
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04-07-2021, 11:36 AM #6
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- Jun 2017
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- 2,049
As others have stated, I've answered your Questions clear and concisely. Obviously I am not going to post anything regarding pending litigation on a public forum.
And I'm not going to give information on Previously Defaulted deals, as you won't be able to Distinguish Mine, from others on the Platform, or the Funding Companies own Files, so it really makes no sense.
Also, I/We are not the Only ones using something that is like a COJ. Or a COJ. All I said was It's not a COJ, It is not a CONFESSION of Judgement
Your the only one who thinks I'm being aggressive, I've been more than polite in answering your questions, but when you twist what I'm saying and keep going on and on about just stupid things, I think anyone would get frustrated.
I'm going to be blocking you now, I have tried to give you the benefit of the doubt, you clearly have some sort of issue with me personally, I'm not sure what it is, but you have made comments before trying to get me to respond, to which I have not. Not sure why, maybe I blasted you or one of your buddies, who was ACTUALLY doing something Shady.
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04-07-2021, 01:46 PM #7
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- Apr 2020
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- 191
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04-06-2021, 12:07 PM #8
- Join Date
- Feb 2019
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- 209
You sound like a clown, to be honest. You asked a great question. Why isn't Ryan's company on statements, courts, or UCCs? He said that he runs it off another platform, which is not uncommon ( I actually did the same exact thing so I get it)
The amount of funders without any broker side is minuscule & the majority of those got crushed back last March ( I wonder why? )
Let's take a step back & consider how 99% of new/upcoming funders solicit on this forum. It is coming from a new account, says they fund A-Z, provides a Gmail submission address, and then spam every post in the last 2 weeks & a couple from last year. You ask them some simple, verifiable questions & then they just keep digging themselves in a hole while clenching onto the fact that they are a "direct funder"
Ryan's responses were long & detailed & then you just end up saying, "I am not going to go through the whole thing." Go pay the troll toll elsewhere
Ryan - congrats on the growth. My biggest regret when I built out my own funding platform? Not putting a bigger emphasis on servicing. It can go from manageable to a time-blackhole real quick. (Great problem to have because it is simply a growing pain but still)
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04-06-2021, 12:19 PM #9
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- Apr 2020
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- 191
and you sound like you just want to kiss a** but you didn't actually read the responses he gave. Either way I could care less, the point is that after all that literature there was still not solid proof that he is funding regularly. I have no issue with that, but it is still a fact. Long and Detailed responses are not proof of anything and he also said he has been off of this other platform for a while, so there should be some proof by now, but I guess that doesn't matter to someone who is just trying to kiss A**.
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