[TheUnderwritingProdigy]

If you want to get yourselves much faster approvals/responses, take the 20 seconds and relabel your statements and supporting docs in submissions.

There's nothing worse than trying to decipher what's going on with a file with several months across multiple accounts, along with a bunch of other supporting docs in the submission and the file names are all scrambled nonsense.

My brokers that already do this get lightning fast responses since we as the funder don't have to spend 10 minutes just trying to figure out what's going on. Something to consider for those who aren't already doing this.

Just my .02

[RBcapital]

I also tell my guys to write a something small a specific about what they need. and not to just write " looking for max"

[TheUnderwritingProdigy]

I also tell my guys to write a something small a specific about what they need. and not to just write " looking for max"

Exactly. I can be much more aggressive and generally make higher offers if my "max offer" is only a few thousand short from what they're requesting.

Also, knowing competing offers is super useful as well as we're very competitive and will generally match or beat @ 15 points.

[happyman]

I also tell my guys to write a something small a specific about what they need. and not to just write " looking for max"

HATE when it just says looking for max. It makes everyone's life so much easier when you say looking for 40-50k.

Side note merchants that take less than you offer them are my favorite.

[Sean Cash]

If you want to get yourselves much faster approvals/responses, take the 20 seconds and relabel your statements and supporting docs in submissions.

There's nothing worse than trying to decipher what's going on with a file with several months across multiple accounts, along with a bunch of other supporting docs in the submission and the file names are all scrambled nonsense.

My brokers that already do this get lightning fast responses since we as the funder don't have to spend 10 minutes just trying to figure out what's going on. Something to consider for those who aren't already doing this.

Just my .02

solid advice!

[BR-Nightmare]

If you want to get yourselves much faster approvals/responses, take the 20 seconds and relabel your statements and supporting docs in submissions.

There's nothing worse than trying to decipher what's going on with a file with several months across multiple accounts, along with a bunch of other supporting docs in the submission and the file names are all scrambled nonsense.

My brokers that already do this get lightning fast responses since we as the funder don't have to spend 10 minutes just trying to figure out what's going on. Something to consider for those who aren't already doing this.

Just my .02

Amen!

If I can piggy back off this too.

Brokers, quit cutting corners filling in the address on the app with what you find on google or in the bank statement. Quit being lazy and verify the address you're putting on your app.

Oh and you may want to put your industry type as well. That can help speed up your process.

"Looking for max" always get me. They get the max offer based on the analysis WE take the time to do, they still want to cry for a bump or second guess our offer.

[Ericr123]

I have a solid submission template that outlines the Current Lenders/Balances, Funding Dates & Terms.

Very important to keep the sub informative for faster UW processing across the board.

Best Regards!

[Capitalize Group]

I have a solid submission template that outlines the Current Lenders/Balances, Funding Dates & Terms.

Very important to keep the sub informative for faster UW processing across the board.

Best Regards!

Capitalize appreciates a good clean submission and will expedite your deals if they take less time to process.

Please reach out to charles@capitalizegroup.com to start submitting deals.

[SendDocsPlox]

People on the Funder side tend to forget that there are dozens of options for files of any quality, and the ISO is submitting to a number of different funders at a time, and said Funders can have extreme differences in Max Remittance, which is why ISOs sometimes ask for Max

Also your merchant will ask for say 40-50K, and the Funder will price out a 50K approval, but then a different ISO who submits it saying Max will pitch that same merchant a 100K approval, and the merchant will take it. You will literally lose out on deals by asking for a specific dollar amount, because most merchants don't have any concept of how this works or how much they can actually get approved for, can utilize or should utilize

They see a bigger number, the caveman part of the brain assumes big number = gooder than small number

There's unironically nothing wrong with asking for a Max approval,
the Funder should be pricing an approval at the Max Remittance they're allowed given the specs of the deal anyway

-T. Someone who has submitted like 10,000+ files

[fundingsmbs]

max approval really doesn't tell UW what you need on a deal. i agree though, funder has one shot to make best offer. if they are being skinny on offers, they are setting up for failure because the broker will soon realize that funder isn't aggressive enough and cut them out of their rotation. if you truly have a grip on the customer's ask and a relationship with customer, you should know the mark to win that deal.