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07-12-2023, 01:59 PM #1
- Join Date
- May 2019
- Location
- Miami
- Posts
- 148
Anyone ever fund with symplifi capital?
They reached out about a couple of files I posted.
Said they just opened in Jan and they dont show in banks statements yet or have any defaults yet because they have in-house collections. Sounds like a broker but I could be wrong little help would be appreciated.
ivan@symplificapital.com is who I spoke to.
Thanks
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07-12-2023, 02:03 PM #2
- Join Date
- Apr 2023
- Posts
- 13
Probably brokers
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07-12-2023, 02:04 PM #3
- Join Date
- May 2019
- Location
- Miami
- Posts
- 148
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07-12-2023, 02:04 PM #4
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07-12-2023, 02:06 PM #5
- Join Date
- May 2019
- Location
- Miami
- Posts
- 148
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07-12-2023, 02:10 PM #6
I see them as positions in submissions, I personally have not seen a file in UW with that funder as a position, there criteria may be what we don't fund but that's just speculation.
In this industry with scenarios like yours it's always a "proceed with caution" type of situation.The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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07-12-2023, 02:09 PM #7
- Join Date
- Jul 2021
- Posts
- 26
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07-12-2023, 02:10 PM #8
- Join Date
- May 2019
- Location
- Miami
- Posts
- 148
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07-12-2023, 02:13 PM #9
- Join Date
- May 2023
- Posts
- 10
Thanks for doing due diligence Mike. This goes for everybody, yes we're new but we are competing and have the funds to do big dollar deals and get creative (buyouts, flex deals). We fund 1st-4th position B/C paper deals up to 200 days w. weekly payments and upsell up to 15%. Buy rates start at 1.27. Think of your typical B/C paper guys and we've probably beat out most of them with some of our offers. I'd be happy to get on the phone with anyone who calls to go over our programs in depth. - Ivan
Ivan M.
ivan@symplificapital.com
(917) 633-5832
1st-4th position B/C paper deals, DIRECT FUNDING SOURCE
Terms up to 200 payments w. weekly payment options
Renewal at 40%
15% COMMISSIONS AVAILABLE FOR YOU TODAY!
CALL ME FOR AN ISO AGREEMENT NOW!
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07-12-2023, 04:20 PM #10
- Join Date
- Aug 2018
- Posts
- 837
They are 24 CAPITAL.
Backdoor central.
Had a renewal with them they handled internally. Large file. 5 digit commission. Rather then paying me 10 pts they paid me 5. Likely to keep their renewal guy happy.
They also white label their high risk deals with Mr advance. Vice versa.
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07-25-2023, 01:50 PM #11
- Join Date
- May 2019
- Location
- Miami
- Posts
- 148
Turns out they just brokered my deal. Paying half commission. Not direct lenders
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07-26-2023, 09:36 AM #12
- Join Date
- Aug 2018
- Posts
- 837
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06-19-2024, 12:36 PM #13
- Join Date
- Aug 2018
- Posts
- 837
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07-25-2023, 01:57 PM #14
- Join Date
- Feb 2018
- Posts
- 1,349
lots of shenanigans going on in this business. lots of backdooring, lying , stealing, and, no oversight committee to shut this practice down. it's a cancer that needs to be cut out.
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07-25-2023, 02:11 PM #15
This forum can be your oversight committee.
Only problem is those that try to accuse come with little to no evidence and make their accusations on assumptions or simply in anger of losing the deal with no factual reason as to how they lost it.
Everybody knows everybody here.The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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07-26-2023, 10:35 AM #16
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- May 2019
- Location
- Miami
- Posts
- 148
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06-19-2024, 08:41 AM #17
- Join Date
- Aug 2014
- Posts
- 2
I know this thread is a year old - but lots of accusations are made that aren’t always fair.
To be sure there are tons of bad people and mca shops in it for a quick and dirty buck. But griping about getting 5% instead of 10 on a renewal - that was brokered out - what would anyone expect? Sour grapes and poor due diligence.
And sadly our industry still has the same, outdated boiler room format and macho approach. It’s pretty sickening.
I’m looking do start a “working group” in a shared office space - must be very experienced, ethical, reasonable guys - with a good sense of humour- we’d share expenses, collaborate where possible, lend resources, maybe co-broker, share tips/advice - and raise everyone up to a higher standard.
Reach out if interested
I’m already using a (windowed) day office at 42nd/3rd for $47/pp for a full day - super nice place, and flexible.
Don
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06-19-2024, 02:09 PM #18
- Join Date
- Mar 2023
- Posts
- 14
I've funded with them a few times and honestly had great experiences. Commission are solid, terms are great for their box (very strong 2nd/3rd position offers often on weeklies). Definitely not brokers -- never had an issue collecting commissions from them. Highly recommended!
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06-19-2024, 03:07 PM #19
- Join Date
- Aug 2018
- Posts
- 837
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