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01-17-2023, 08:07 PM #1
- Join Date
- Jun 2022
- Posts
- 16
Kapitus the kings of back door
Kapitus calls me more than my own mother.. I put my cell or my closers phone # since they literally wont UW the file without a business phone # as such below. Thye call me at least daily with " hey i see your file was submitted by a broker or you were recently declined with us and wanted to see how your revenue is doing now etc.
You would expect more from an A lender but looks like they are scums like the majority. Beware and make sure you always provide them with a BS phone # and tell them to kick rocks..
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01-17-2023, 08:29 PM #2
- Join Date
- Aug 2021
- Posts
- 160
100% I agree
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01-18-2023, 08:54 AM #3
- Join Date
- Jul 2015
- Posts
- 215
They have it in their iso agreement that they will solicit your customer after 30 days. If you have enough volume you can get that amended. I believe they call it a non recourse agreement or something like that.
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01-18-2023, 09:10 AM #4The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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01-18-2023, 09:53 AM #5
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01-18-2023, 10:03 AM #6
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- Jun 2015
- Posts
- 754
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01-18-2023, 10:06 AM #7
- Join Date
- Aug 2019
- Posts
- 163
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 #8
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01-18-2023, 10:10 AM #9
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- Aug 2019
- Posts
- 163
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01-19-2023, 12:51 PM #10
- 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 #11
- Join Date
- Nov 2013
- Posts
- 598
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 #12The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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01-19-2023, 02:13 PM #13
- Join Date
- Jul 2015
- Posts
- 215
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01-19-2023, 02:13 PM #14
- Join Date
- Jun 2015
- Posts
- 3,323
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01-19-2023, 02:09 PM #15
- Join Date
- Feb 2017
- Posts
- 3,429
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 #16
- Join Date
- Dec 2015
- Posts
- 610
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 #17
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01-20-2023, 10:44 AM #18
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- Jun 2015
- Posts
- 754
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01-20-2023, 11:11 AM #19
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01-18-2023, 04:04 PM #20
- Join Date
- Dec 2021
- Posts
- 637
I hear Trump coming back to twitter ...thats a lot more fun then the boring fact that we absolutely haver no direct/indirect sales teams and our ISO's submissions are never re-marketed as leads. (perhaps from the top reasons the savviest shops work with capybara).
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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01-18-2023, 04:17 PM #21
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01-18-2023, 04:25 PM #22
- Join Date
- Aug 2019
- Posts
- 163
Simon Wein
CEO- Radiance Funding
P:516.509.9788
W: Radiancefunding.com
E:Simon@radiancefunding.com
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01-18-2023, 04:48 PM #23
- Join Date
- Dec 2021
- Posts
- 637
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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01-19-2023, 02:08 PM #24
- Join Date
- Jul 2015
- Posts
- 215
Bluevine just reduced me to 3 pts on all draws instead of 5 on initial after 6 years on the 5/3 program. I do almost 500k a month in new business. If I found out they were stealing my data on top of reducing commission I would begin the search for a replacement for them. Needless to say they have no loyalty from me.
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01-19-2023, 02:24 PM #25
- Join Date
- Jun 2015
- Posts
- 3,323
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