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  1. #1

    **UPDATE** Funding with criminal background

    I get that funding murderers rapists financial criminals etc., is not good business but as a small ISO shop I don't have the ability to dive into background too much. Plus, I don't want to be too judgemental and risk losing the deal. If he's got the revenue, I try to help him. Apparently, according to the 1st sub, he's not a murderer, rapist or financial bad guy. I'm sure there are ISOs on this board that will fund a doormat if they can get it approved.

    I sent him to one of my fav funders 1st and they kicked it back because of multiple issues and not so much the seriousness of the background. I'm ok with that. There are conservative funders and there are rock and roll funders. I expect many funders would have funded this. With me not knowing the extent of the background up front and not wanting to be too judgemental of the merchant, I start at the top and go for it. My goal is to help the merchant get what he wants.

    FUNDED $85K, 110 days @ 1.47 paying 11. Merchant received his money. This merchant is a referral from another merchant I funded. Referrals are the BEST. I'm OK with that.

    All the pristine, holier than thou ISOs/funders, go ahead and flame away. I don't care.

    Have a good weekend.

    Peace.

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    I haven't run into much of an issue with this as I get the info up front on the background and attach it to the submissions I had one recently with two offers. I followed up on the criminal background and they came back and said UW said OK.
    Steve Benjamin
    Professional Business Loans

    1012 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
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    @ SBA loans - 7A and 504.
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  3. #3
    Senior Member Reputation points: 42992 SendDocsPlox's Avatar
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    Praying extra hard tonight isn't going to save you

  4. #4
    What were the charges?

    And any takers on the thread want to bet that he won't disclose them?

    I am not even sure what the point of this post is...are you trying to justify to us why we should fund scum of the earth?

    Or are you trying to justify it to yourself?

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