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06-13-2024, 05:05 PM #1
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Anyone who claims they "never have had a default" does like 2 deals a month max. Lol
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06-13-2024, 05:32 PM #2
Reputation points: 44888
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- Aug 2018
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Seems so, seems from what ontap said the iso rly needed the $. I feel bad for the iso, but, the funder handled it the way most would who have no relationship with the iso (it was their first deal together).
Regardless seems they arent ****ers and did a 2nd pos 160 day deal on a guy w a record (means they looked deep into the deal). With 80k!
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06-13-2024, 05:33 PM #3
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What was the factor on the deal
@ontap what is your avg buy rate?
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06-13-2024, 06:01 PM #4
Reputation points: 22
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- Dec 2023
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- 58
YES. REALLY DID NEED IT.
We were told basically the same day of pay out that we wouldn't get paid.
An emergency happened within the office, plus it was the 1st of the month. It would've done us a great justice. Not only that but working on expansion and need to pay for things we need, we shouldn't need to rely on our own funding if we don't have to.
In fact, THE MERCHANT advanced US for their error until the FUNDER decides to pay us in order to make things right!
The fact that we can't receive the same support from the funder (who wanted us to continue bringing them good deals) speaks volumes!
They only offered that deal to compete with another lender we already had a relationship with. They offered the same deal and added like 10 more days and drew us in thinking business with them wouldn't turn to this.
The 1st pos we got them was for 11 months with another lender few months before.Last edited by NEWCDAM; 06-13-2024 at 06:11 PM.
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