[BR-Nightmare]

Has anyone seen what’s happen at Rapid?

[goldenhippo80]

Has anyone seen what’s happen at Rapid?

Please enlighten us!

[Big Mack]

My ISO's tell me they're declining everything & it looks like they're not sponsoring Broker Fair. Is there any news?

[Seth Davis]

I just got my first approval from them in quite some time on Wednesday, and it wasn't as competitive as I have usually expected them to be.
It was a 150k 12m

[DailyCloser]

I mean they're literally in every file with 1-3 other positions behind them. Whatever the news is, I'm sure it makes complete sense..

[Robinhood21]

havent seen a approval from them in months.

Only seeing approvals on renewals

[closer129]

A couple months back they put out new guidelines and they were alot more strict on new deals and even renewals they got stricter. Like somone said they are in a lot of bank statements with several other positions. They probably took a ton of hits and loosing money because of there crazy offers and merchants and brokers stacking the hell out of them that theese merchants could not afford. I been in this industry for around 12 years and i seen this plenty of times with funders they put out crazy offers to get deals in and when they underperform they lose money and change there guidelines and some even went out of business.

[BR-Nightmare]

I'm seeing layoffs......

[Big Mack]

I'm seeing layoffs......

Yes, I just noticed long-time employees on LinkedIn seeking new opportunities.

[fundingsmbs]

anyone remember this one, https://debanked.com/2017/10/stackin...d-go-to-trial/

i don't think this is why something if anything is happening. stacking has been going on for a bit. you have locs, monthlys, weeklys, dailys, companies like paypal in the space etc etc throwing money at customers. history has already shown a few things. you cant lowball rates and buy the market with a good outcome, and, you cant fund your way out of bad debt. credibly sent out amended isos agreements recently due to what they prob see as an issue and that is the number of psfs being charged to customers by brokers and stacking concerns. the issue here is, nobody has a monopoly on lending. it's just a saturated market.