Results 1 to 25 of 65
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05-13-2022, 03:39 PM #1
- Join Date
- Dec 2016
- Posts
- 379
Coconut Funding just got caught!
Just saw this posted on LinkedIn by the owner of United Capital Source. Be safe out there guys.
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05-13-2022, 04:05 PM #2
- Join Date
- Jun 2015
- Posts
- 754
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05-13-2022, 04:31 PM #3
- Join Date
- Dec 2016
- Posts
- 379
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05-14-2022, 01:51 AM #4
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 592
100% True about Jared.
www.UccRadar.com
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05-14-2022, 05:39 PM #5
- Join Date
- Aug 2014
- Posts
- 620
I would assume this is someone fairly new to Coconut Funding that doesn't know any better.
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05-14-2022, 09:24 PM #6
- Join Date
- Jul 2013
- Posts
- 352
2015 start date at Coconut according to LinkedIn... so this is likely embedded in company culture. Also telling that he CC'ed Jacob.
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05-16-2022, 11:30 AM #7
- Join Date
- Jun 2015
- Posts
- 3,325
go look at the post on LinkedIn ,the dude actually responded that "no one else does this?"
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05-16-2022, 11:37 AM #8
- Join Date
- Mar 2022
- Posts
- 63
There's a more conspicuous way to do this but every shop I know uses backdoor leads...
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05-16-2022, 12:46 PM #9
- Join Date
- Apr 2022
- Posts
- 28
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05-16-2022, 01:30 PM #10
- Join Date
- Feb 2020
- Location
- Anaheim, CA
- Posts
- 85
Joel S Galasso
Senior National Accounts Manager
Small Business Loans
Main: 949-535-7798 | business.loans@loanme.com
1900 S. State College Blvd. Suite 300 Anaheim, CA 92806
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05-16-2022, 01:35 PM #11
- Join Date
- Feb 2020
- Location
- Anaheim, CA
- Posts
- 85
"I would assume this is someone fairly new to Coconut Funding that doesn't know any better."
It's not. Father/son team of Jack and Rob Pearlman heading up the shop, with Rob being the son.Joel S Galasso
Senior National Accounts Manager
Small Business Loans
Main: 949-535-7798 | business.loans@loanme.com
1900 S. State College Blvd. Suite 300 Anaheim, CA 92806
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05-16-2022, 01:41 PM #12
- Join Date
- Oct 2021
- Posts
- 223
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05-16-2022, 01:46 PM #13
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05-16-2022, 01:57 PM #14
- Join Date
- Oct 2020
- Posts
- 92
To me its always a red flag when a company rep says " nobody backdoors here". Its impossible to know and its rampant across the board. I used to label my bank statements in a discreet way and had my reps who i trusted at these funders be on the lookout for subs that come with my labeled statements so I have "busted" even the most reputable shops ( would customize the bank statemnt label for each sub and actually caused a few reps at certain shops to be relieved of their jobs).. But I no longer waste time being a detective as I saw how widespread it is . Of course when I find out with certainty its happening I limit my subs there unless despite the backdooring I am still converting alot with said funder. But no matter what you do security wise all it takes is one rogue employee to want to make alot of extra side money for the backdorring to happen. My advice is keep your focus on the shops that convert for you and dont just blast out every sub. Limiting the exposure will limit the backdooring.
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05-16-2022, 02:14 PM #15
- Join Date
- Dec 2019
- Posts
- 158
Thank you,
Joseph Vaknen
Business Development
SuperFastCap
Direct: (646) 546-3866 (Text or Call)
E-mail: Joe@superfastcap.com
www.superfastcap.com
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05-16-2022, 04:51 PM #16
- Join Date
- Jan 2019
- Posts
- 42
lmao this is too good to be true
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05-16-2022, 05:06 PM #17
One rogue employee, one rogue merchant, one rogue broker.
One thing I have noticed is that once a deal gets submitted anywhere, it will spread to others somehow.
If I can recall, don't some funders have on their agreements the right to solicit after X amount of days?
Another observation is the amount of employee turnaround shops have, I'm sure there can be a rogue individual as well.
A "super" broker deal is also something to look at where you would assume a "backdoor" practice occurred.The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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05-16-2022, 05:15 PM #18
- Join Date
- Aug 2016
- Posts
- 831
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05-16-2022, 05:17 PM #19
- Join Date
- Aug 2016
- Posts
- 831
Rob is one of the biggest losers in this industry, it does not surprise me that he tried to steal data from a company.
Can jared peruse this legally ?
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05-16-2022, 05:44 PM #20
- Join Date
- Oct 2021
- Posts
- 223
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05-16-2022, 10:30 PM #21
- Join Date
- Aug 2018
- Posts
- 827
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05-16-2022, 10:32 PM #22
- Join Date
- Aug 2018
- Posts
- 827
I tried subbing to coconut.
No offer for 2-3 days.
Sold the deal elsewhere. 2 weeks later deal gets sent to debt consol lawyers. I requested it and the merchant showed me a group text where they referred him to a debt consol company. It is the mca space as a whole that is toxic.
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05-16-2022, 11:08 PM #23
- Join Date
- Apr 2022
- Posts
- 28
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05-17-2022, 09:58 AM #24
- Join Date
- Aug 2020
- Posts
- 145
Golden State / Coconut Funding (stupid name) are the type of people you don't want in this industry. They've been around many years and always have the same reputation. A lot of us will probably get threatening private messages knowing them.
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05-17-2022, 10:34 AM #25
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