On Deck issuing blind declines...
Need a Funder or Vendor? START HERE

Results 1 to 9 of 9
  1. #1
    Senior Member Reputation points: 1393
    Join Date
    Apr 2013
    Posts
    358

    On Deck issuing blind declines...

    Does anyone have experience with On Deck declining a submission and giving no reason? We submitted a stellar deal and wanted to use On Deck for this. Our rep says underwriting did not give a reason for the decline.

    Naturally this makes us suspicious.

  2. #2
    Senior Member Reputation points: 78889 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,343

    This is an on going problem with lenders and I run into it all the time....have to ask the rep to go back to underwriting several times to get reasons for decline. Did the rep go back and ask?
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  3. #3
    Paz Funding Source will never issue a decline without a strong reason and will do our best to present a remedy

    Yoni Magady
    Managing Director | ISO Department
    (323) 686-9623
    yoni@pazfundingsource.com

  4. #4
    Senior Member Reputation points: 1393
    Join Date
    Apr 2013
    Posts
    358

    Quote Originally Posted by Quickfunder View Post
    Does anyone have experience with On Deck declining a submission and giving no reason? We submitted a stellar deal and wanted to use On Deck for this. Our rep says underwriting did not give a reason for the decline.

    Naturally this makes us suspicious.
    He did after our second attempt. Sounds like the merchant had typical credit and was a good candidate but ultimately turned down.

  5. #5
    Hello,

    Key Capital Group offers Unmatched ISO Support & always a speedy offer or solid reason for Decline. Below are some Guidelines. Please feel free to call me with any questions.

    We specialize in:
    High Risk
    1st to 10th position
    Defaults & Declines (Deal by deal basis, at discretion of Funder)
    Reverses Consolidation

    Minimum Monthly Revenue For 2nd position & On:
    $20,000
    Minimum Monthly Revenue For 1st Position:
    $50,000 For 1st time taking an MCA Advance
    $35,000 For a Merchant that has had an MCA Advance in the past

    Our Product:
    5k to No Funding Cap (as long as the deal makes sense we will Fund)
    Terms UP TO 95 DAYS (flexible with large funding amounts)
    Weekly payments available (if the merchant has a weekly we will consider)
    Early Payoff Discounts
    Early Renewals
    Instant DocuSign Contracts & Light Stips -DL, VC
    Full Commissions on Default Merchants & Renewals.


    Gill Navarro
    Director Of ISO Relations
    Direct:1(862)-303-3225
    Office:1 (888) 729-9292
    Email:Gill@keycapitalfunding.com
    https://keycapitalfunding.com/iso/
    iso pic.gif

  6. #6

    Blind declines

    Blind Declines definitely suck, depending on the deal I can go out to 12 months with a 1.17 buy rate (15 points built-in)

    If you need a back-up approval send it to rasheed@alfaadvancefunding.com

    Rasheed Miller
    (347) 531-9075
    https://alfaadvance.com/

  7. #7
    Banned Reputation points: 557
    Join Date
    Dec 2021
    Posts
    42

    Quote Originally Posted by AlfaAdvanceFunding View Post
    Blind Declines definitely suck, depending on the deal I can go out to 12 months with a 1.17 buy rate (15 points built-in)

    If you need a back-up approval send it to rasheed@alfaadvancefunding.com

    Rasheed Miller
    (347) 531-9075
    https://alfaadvance.com/
    1.17 with 15 points built in?

  8. #8
    Quote Originally Posted by brokerplus View Post
    1.17 with 15 points built in?
    Yes 1.17 BUY rate with 15 points = 1.32 factor

  9. #9
    Try us
    Hello, Please give us a shot. We have no restricted industries & Fund 1st position. Contact Info & Guidelines Below.

    We specialize in:
    A paper and High Risk deals
    1st to 7th position
    Defaults & Declines (Deal by deal basis, at discretion of Funder)
    Reverses Consolidation
    Revolving lines of credit
    Equipment financing

    Minimum Monthly Revenue For 2nd position & On:
    $10,000
    Minimum Monthly Revenue For 1st Position:
    $7,500,000 For 1st time taking an MCA Advance
    $15,000 For a Merchant that has had an MCA Advance in the past

    Our Product:
    5k to No Funding Cap (as long as the deal makes sense we will Fund)
    Terms UP TO 95 DAYS (flexible with large funding amounts)
    Weekly payments available (if the merchant has a weekly we will consider)
    Early Payoff Discounts
    Early Renewals
    Instant DocuSign Contracts & Light Stips -DL, VC
    Full Commissions on Default Merchants & Renewals.

Similar Threads

  1. Help with on deck
    By MCA in forum Merchant Cash Advance
    Replies: 6
    Last Post: 06-13-2019, 09:16 AM
  2. on deck
    By fundingsmbs in forum Merchant Cash Advance
    Replies: 2
    Last Post: 04-04-2018, 02:10 PM
  3. On Deck Does it again
    By skideeppow in forum Merchant Cash Advance
    Replies: 45
    Last Post: 01-25-2016, 04:18 PM
  4. On Deck
    By Funder Mark in forum Merchant Cash Advance
    Replies: 37
    Last Post: 11-12-2015, 10:31 AM
  5. On deck
    By MCAVeteran in forum Business Loans
    Replies: 0
    Last Post: 05-15-2014, 09:06 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Blue Owl Capital acquires Atalaya
Kansas added to disclosure service tool
FIS launches SMB digital lending


DIRECTORY