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  1. #1

    Different Rates For Different folks with Fox Business Funding ???

    Issue resolved with them.
    Last edited by MikeD718; 06-29-2022 at 10:24 AM. Reason: Issue resolved with them.

  2. #2
    Senior Member Reputation points: 42992 SendDocsPlox's Avatar
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    They probably have a better relationship with Fox, yeah it sucks but if they're going to do this with you you should be taking your business elsewhere.

  3. #3
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    They have many funders on their platform with different box parameters. IE. Higher risk shorter term, Then have the cleaner side with lower buys and longer terms up to 12 months.

    Depending on what ISO you have there or the the paper you send over.

  4. #4
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    Quote Originally Posted by MikeD718 View Post
    Hey guys,
    Quick question, did you ever send a file to fox, got a reasonable approval and then your merchant got contracts from fox through another broker with rates and terms that are substantially better than the one you got?
    It happened to us multiple times, and our rep there (which we love dearly i must say) keeps saying that its because the other iso os syndicating etc etc. (We got 400k 32 weeks and the other ISO got 400K over 52 weeks at a 1.23 and the merchant sent us the fox contract with these terms on it)
    Thing is, when the other iso got a better offer we werent even notified for a chance to compete they straight up drafted contracts and claimed this is an offer from 6 months ago etc etc and that the iso is doing 50% of the deal (no small time iso syndicating 200K 1.23 over 52 weeks lets be real)

    I had a good thing going with fox but i lost two monster deals with them with similar scenerio.
    Please share if something like this happened to you as well.

    Just be care full i guess
    You sure the other "ISO' is not their broker side? Do not be fooled by their change in address

  5. #5
    I'm not sure what Fox's structure is, but here at Delta Bridge I'm constantly competing with other reps and their ISO's. For example if my iso sends me a deal that they know has a Delta offer out with a competing iso I'm going to offer more money (meaning I'll syndicate into the deal), stretch out the term, and tell them to drop the factor rate/bank fees lower than what was previously pitched so we can win the deal. Furthermore, if I get the same deal from 2 of my ISOs I will give both the same offer regardless of which one funds more with me. It doesn't make sense for me to compete against myself or deal with the headaches if one finds out I gave the other a better offer. Maybe this is a similar situation with Fox, I really don't hear anything bad about them. Hope this helps.
    Last edited by Anthony@fundry; 06-25-2022 at 10:24 AM.
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

  6. #6
    Or it could just have been something as simple as putting out a $10k offer 100 days to both ISO's and then 1 of the ISO's asks for more days and the other doesn't. Happens all the time.

  7. #7
    Quote Originally Posted by TheUnderwritingProdigy View Post
    Or it could just have been something as simple as putting out a $10k offer 100 days to both ISO's and then 1 of the ISO's asks for more days and the other doesn't. Happens all the time.
    Could be, but some funder (i.e EBF) send an updated offer if and once they improve to all iso's that submitted the file.
    Its not such a big deal to be honest these days. you just need to be into it

  8. #8
    [QUOTE=Dailyfrog;167508]Could be, but some funder (i.e EBF) send an updated offer if and once they improve to all iso's that submitted the file.
    Its not such a big deal to be honest these days. you just need to be into it[/QUOte
    100% I agree with this. Fox and Cfg ( prob others just none that i work with, everyone else im linked up with truly value their isos I guess and would never allow for this) use the " must have been a diff underwriter " excuse ever time i question how a deal they declined for me gets funded by a diff iso the next day or week. Its one company and that bothers me. Not accusing anyone of being doshonest as I dont know 100% for certain but it definitely leaves the door open for many games to be played. And i no longer sub to either of them. Also when i signed up with fox I had no idea the rep i was getting ONLY has access to their high risk underwriters ( ridicoulous offers that have absoluetly no chance of ever performing). Also as a side point with fox once you are signed up with one rep its impossible to switch to another to access the other underwiters who make normal offers. So they only funded the garbage deals. lol and then question why my deals arent performing.

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