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  1. #1

    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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    Telephone: 212-354-1400

  2. #2
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    100% I agree

  3. #3
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    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.

  4. #4
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by whaley View Post
    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..


    Additional info is needed for your submission.


    Contract ID:

    Missing Items
    Missing Business Telephone Number
    Comment
    Please Provide a Valid Business Phone Number.

    Your submission is currently missing the above listed documents or information. Please submit them as soon as possible so that we can continue processing the application.

    You can also check on the status of your submission at any time by logging into our submission portal below.

    Login To Portal


    Telephone: 212-354-1400
    And of course, lack of critical details.

    When was that submission declined? If it was more than 30 days, its free game to Kapitus. Check your ISO agreement.

    Hopefully you can answer my question.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  5. #5
    Senior Member Reputation points: 42992 SendDocsPlox's Avatar
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    Quote Originally Posted by BR-Nightmare View Post
    And of course, lack of critical details.

    When was that submission declined? If it was more than 30 days, its free game to Kapitus. Check your ISO agreement.

    Hopefully you can answer my question.
    He would be really mad right now if he could read

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    Quote Originally Posted by SendDocsPlox View Post
    He would be really mad right now if he could read
    They king of FrontDoor

  7. #7
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    Quote Originally Posted by BR-Nightmare View Post
    And of course, lack of critical details.

    When was that submission declined? If it was more than 30 days, its free game to Kapitus. Check your ISO agreement.

    Hopefully you can answer my question.

    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

  8. #8
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by simonwein12 View Post
    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.
    Capybara post incoming....................
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  9. #9
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    Quote Originally Posted by BR-Nightmare View Post
    Capybara post incoming....................
    oh my god i was about to edit my post to say that hahahahahahah!!!!

    Simon Wein
    CEO- Radiance Funding
    P:516.509.9788
    W: Radiancefunding.com
    E:Simon@radiancefunding.com

  10. #10
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    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!)

  11. #11
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by MCA-VET View Post
    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).
    There it is!

    Took you a minute.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  12. #12
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    Quote Originally Posted by MCA-VET View Post
    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 you had me refreshing for hours just waiting for your response!!!!!! I wanna hear about the biggest and most savviest Isos in the country signing up with Capybara for whale deals!

    Simon Wein
    CEO- Radiance Funding
    P:516.509.9788
    W: Radiancefunding.com
    E:Simon@radiancefunding.com

  13. #13
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    Quote Originally Posted by simonwein12 View Post
    Marcus you had me refreshing for hours just waiting for your response!!!!!! I wanna hear about the biggest and most savviest Isos in the country signing up with Capybara for whale deals!
    Ye...Busier then ever. BH !
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  14. #14
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    Quote Originally Posted by simonwein12 View Post
    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.
    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

  15. #15
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    Quote Originally Posted by simonwein12 View Post
    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.
    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.

  16. #16
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    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.

  17. #17
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by FCF Fund View Post
    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.
    Are funders simply suppose to throw out an offer based on numbers? (Most funders do to get the deal and take a look at it) Would it be wrong to do some of the work upfront to give it a decent offer?
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
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  18. #18
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    Quote Originally Posted by FCF Fund View Post
    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.
    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.

  19. #19
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    I will say they have asked to speak to a merchant in order to fund maybe 1 or 2 times across a few thousand deals over the years. Sometimes they stip for TR or DL or a new email.

  20. #20
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    Quote Originally Posted by BR-Nightmare View Post
    Are funders simply suppose to throw out an offer based on numbers? (Most funders do to get the deal and take a look at it) Would it be wrong to do some of the work upfront to give it a decent offer?
    Your point is valid. Bluevine isn't a funder though. They are a "tech company" who just happens to lend $ as their product. At least that's how they describe themselves.

  21. #21
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    Quote Originally Posted by BR-Nightmare View Post
    Are funders simply suppose to throw out an offer based on numbers? (Most funders do to get the deal and take a look at it) Would it be wrong to do some of the work upfront to give it a decent offer?
    say what ? who does pre interview calls before an offer ?

  22. #22
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    Quote Originally Posted by Oxforddan View Post
    I will say they have asked to speak to a merchant in order to fund maybe 1 or 2 times across a few thousand deals over the years. Sometimes they stip for TR or DL or a new email.
    Bluevine uses a big data email validation service to verify that the email address is owned by the client. You can't just submit any just-created gmail account. That's probably why they don't need the DL.

  23. #23
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    Quote Originally Posted by abfunders View Post
    Bluevine uses a big data email validation service to verify that the email address is owned by the client. You can't just submit any just-created gmail account. That's probably why they don't need the DL.
    I submitted with the company info@ email and not the personal email.

  24. #24
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    Quote Originally Posted by Oxforddan View Post
    I will say they have asked to speak to a merchant in order to fund maybe 1 or 2 times across a few thousand deals over the years. Sometimes they stip for TR or DL or a new email.
    Not to fund....FOR AN APPROVAL. Its nuts!

  25. #25
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    Quote Originally Posted by FCF Fund View Post
    Not to fund....FOR AN APPROVAL. Its nuts!
    Yea that's a Bold strategy cotton.

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