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01-18-2023, 09:10 AM #1The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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01-18-2023, 09:53 AM #2
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01-18-2023, 10:03 AM #3
- Join Date
- Jun 2015
- Posts
- 754
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01-18-2023, 10:06 AM #4
- Join Date
- Aug 2019
- Posts
- 156
Yep, Most ISOs don't realize that almost all the big name funders in the industry have direct departments. they all call the merchant after 30 days per the ISO agreement. Kapitus happens to just use the same name for their funding and brokering arm, while all the others have different names for their broker shops.
Simon Wein
CEO- Radiance Funding
P:516.509.9788
W: Radiancefunding.com
E:Simon@radiancefunding.com
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01-18-2023, 10:08 AM #5
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01-18-2023, 10:10 AM #6
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- Aug 2019
- Posts
- 156
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01-19-2023, 12:51 PM #7
- Join Date
- Feb 2018
- Posts
- 1,349
pretty much. if you want this to stop, red line and see if they accept, if they don't you know what's going to happen. read the renewal portion of agreement to. does it have a quota language or you lose future renewal income? what happens after a payoff? etc etc
funder's are tired of the BCC mass subs and low conversions so they took the liberty of building a framework of going after the deals themselves
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01-19-2023, 02:03 PM #8
- Join Date
- Nov 2013
- Posts
- 597
Bluevine has been doing the same thing except every deal I send they want DL, pre-interview call with merchant along with phone number and email. Is anyone else having that same issue or is it just me? I get receiving the contact details but thats a lot of upfront communicating with the merchant just to receive an approval.
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01-19-2023, 02:08 PM #9The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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01-19-2023, 02:13 PM #10
- Join Date
- Jul 2015
- Posts
- 207
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01-19-2023, 02:13 PM #11
- Join Date
- Jun 2015
- Posts
- 3,317
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01-19-2023, 02:09 PM #12
- Join Date
- Feb 2017
- Posts
- 3,386
Bluevine never asked me for a DL or pre-interview calls. Probably because I'm signed up as a full ISO, not as a referral partner. In fact, I just got a $200,000 LOC funded with a voided check and tax returns. The ownership needed to be tracked, because there's a holding company in between, and then the ownership wasn't 51-49 husband-wife, it was 100% husband, so they just switched ownership, ran credit again and got it re-approved. They never spoke with the merchant at all.
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01-19-2023, 10:10 PM #13
- Join Date
- Dec 2015
- Posts
- 600
Hot dang Willard... Stop posting on the funder and get off the dumper...
Awesome Merchants3.png
It really does say 30 days before they tie our ankles and let the air out our pants, with our merchants.
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01-20-2023, 10:29 AM #14
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01-20-2023, 10:44 AM #15
- Join Date
- Jun 2015
- Posts
- 754
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01-20-2023, 11:11 AM #16
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