[skideeppow]

Hey,
I have been with ODC since 2009, and they terminated me with no advance warning since I have not funded a new deal with them in a while. Anyone have a higher up contact I can reach out to?
Thanks

[Olderguy]

Run it through FundShop.

[closer129]

Hey,
I have been with ODC since 2009, and they terminated me with no advance warning since I have not funded a new deal with them in a while. Anyone have a higher up contact I can reach out to?
Thanks

A lot of funders will do that if you do not send any deals in a certain period of time or send a ton of files and fund nothing or have a high default rate. But ondeck is not the same as they use to be. There rates are not as strong as they were years ago and i heard they do not payout as much as they use to.

If you have not funded a deal with them in a long time then does it really matter if you have them as a funder or not. There are other funders out there that have a little bit of a better program long term than they do. My companies program works like a line of credit and is better than cheaper than almost all the funders out there if the merchant needs money regularly which probably 95% or more do. If you would like to know more let me know.

[skideeppow]

A lot of funders will do that if you do not send any deals in a certain period of time or send a ton of files and fund nothing or have a high default rate. But ondeck is not the same as they use to be. There rates are not as strong as they were years ago and i heard they do not payout as much as they use to.

If you have not funded a deal with them in a long time then does it really matter if you have them as a funder or not. There are other funders out there that have a little bit of a better program long term than they do. My companies program works like a line of credit and is better than cheaper than almost all the funders out there if the merchant needs money regularly which probably 95% or more do. If you would like to know more let me know.

Thanks for the info. You are correct, rates are not as good with ODC.

[fundingsmbs]

funders are looking very carefully at iso performance. you will be cut if you sub too many junk deals, fund deals that go bad, or, are a pain in the ass to work with. if you don't sub at all and get cut, that's never made much sense as you don't eat up any bandwith, but, maybe they are narrowing their roster to those iso's who actually fund monthly with them only to better project their #s

[closer129]

Thanks for the info. You are correct, rates are not as good with ODC.

Let me try to replace ondeck but get files to fund with you lol.

Scott
tmrnow
212-220-9872

[Steven_O]

They pay 15pts, go out 24 months and offer LOC's... and no one stands next to their merchant checkout feature (funding). ODC is a slam dunk.

[skideeppow]

They pay 15pts, go out 24 months and offer LOC's... and no one stands next to their merchant checkout feature (funding). ODC is a slam dunk.

Rapid has lower rates, is just as quick and there is no origination fee which merchants loath.

[closer129]

Rapid has lower rates, is just as quick and there is no origination fee which merchants loath.

Rapid does have lower rates and if they have no underwriting fees. hey are not paying out as much as 15 points on those lower rates. And whrn the merchant renews the pay double on the old balance and the deal stops and the new one starts. So on renewals the terms are cut in half and the cost for the new money is doubled. With my company we may charge underwriting fees and our rates might be a little higher but on renewals we do not payoff the old balances with new money and start the deal over again. We just add more time on to the deal by extending it out and they keep the one same payment and when they finish up the old balance is when they start the new one. I have merchants that been with me for around 5 years and paid a total of around 28-38% over several years of funding. No funder can say that about there merchants.