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  1. #1
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    Rapid Finance back dooring ?

    Sent a file to rapid first week of January.

    Got a response declined for eligibility reasons
    Two weeks later I find out the merchant got funded for $110,000 by them !!

    What is going on ???

  2. #2
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by Robinhood21 View Post
    Sent a file to rapid first week of January.

    Got a response declined for eligibility reasons
    Two weeks later I find out the merchant got funded for $110,000 by them !!

    What is going on ???
    More & more I am starting to question the broker society......

    Why do the angry ones always leave out the important details?

    Karen's writing bad reviews about Target are more detailed than the people complaining here. (With the exception of the few reputable people on here)
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
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  3. #3
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    Quote Originally Posted by BR-Nightmare View Post
    More & more I am starting to question the broker society......

    Why do the angry ones always leave out the important details?

    Karen's writing bad reviews about Target are more detailed than the people complaining here. (With the exception of the few reputable people on here)

    What else was i suppose to put?

  4. #4
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Eligibility reasons?

    That could be many things. Here are a few examples:

    -Signed contracts already in with another broker
    -Flag for defaults, criminal, poor payment history, ect.
    -Previously declined in less than a certain timeframe that your submission fell on (30 days or less)

    You can already see that your Merchant clearly worked with multiple brokers.

    Did Rapid call your Merchant directly and took the deal from you? If so, what proof do you have?

    Oh, and it's Rapid. Let me repeat, Rapid...

    One of the top & most reputable in the game.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  5. #5
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    My point is if they declined it for that On Jan 4

    And it gets funded by them on 1/12

    What did i miss?

  6. #6
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    Quote Originally Posted by Robinhood21 View Post
    My point is if they declined it for that On Jan 4

    And it gets funded by them on 1/12

    What did i miss?
    if you missed all of the questions BR just asked you, you probably missed a lot on what happened here too.

  7. #7
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by BR-Nightmare View Post
    That could be many things. Here are a few examples:

    -Signed contracts already in with another broker
    -Flag for defaults, criminal, poor payment history, ect.
    -Previously declined in less than a certain timeframe that your submission fell on (30 days or less)
    In case you need it again
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
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  8. #8
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by Robinhood21 View Post
    My point is if they declined it for that On Jan 4

    And it gets funded by them on 1/12

    What did i miss?
    Oh and to add on here, did you even bother to inquire with Rapid before you came on here and made assumptions?

    What happens when you Assume?
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
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  9. #9
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    yeah i did they dont know what happen....

  10. #10
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    what did they say when you asked how your sub got declined and they funded them two weeks later? what was the eligibility decline?

  11. #11
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    Flag for defaults, criminal, poor payment history, wasn't obviously the case since he got funded


    What's the excuse to get declined and two weeks later to get funded by them.

    I'm fully aware he was working with multiple brokers.

    I just would like to know what happened is all

  12. #12
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    Apparently they dont know what happened talking to the funding manager

  13. #13
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Then address that with Rapid.

    To post your accusation can cost you your ISO Agreement to be terminated if they uncover what you are doing and put 2 and 2 together.

    No fact, just speculation will get eaten alive here.

    I apologize if I come off as rude. Posts like yours come often and they have little to no validity.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
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  14. #14
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    Robinhood, you got hoodwinked. one of their close iso brokers got the cake. if your story is valid.

  15. #15
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    Quote Originally Posted by Robinhood21 View Post
    Apparently they dont know what happened talking to the funding manager
    i had a similar situation with rapid years ago and they paid me bonuses on future deals to cover that screwup . They are good people keep speaking to your funding manager and if is not helping out . call upper management

  16. #16
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    Quote Originally Posted by Michael I View Post
    i had a similar situation with rapid years ago and they paid me bonuses on future deals to cover that screwup . They are good people keep speaking to your funding manager and if is not helping out . call upper management
    Apparently another ISO had a more accurate "industry type"

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