Applications to Approvals?
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  1. #1

    Applications to Approvals?

    I have been back in this space for a little over a year worked in it (2010-2018) with some equipment financing as well. Worked for brokers and direct funders. I wanted to see how many applications it takes to get an approval on average in this current market. Assume I get "decent" leads.
    Last edited by FUNDRIGHTJAX; 06-11-2024 at 08:01 PM. Reason: wasnt clear enough

  2. #2
    Senior Member Reputation points: 33945
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    Mar 2024

    Will get wildly varying answers, numbers will be very different from a broker who say does SMS spam/baiting vs someone who runs real time advertising. Attracts different quality
    Last edited by diditevenfund; 06-11-2024 at 08:26 PM.

  3. #3
    Senior Member Reputation points: 13820
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    Jun 2015
    Gainesville, FL

    This is like asking how many fish you'll catch. There are so many variables. Quality of your bait, timing, conditions, how much patience you have, and who you choose to go fishing with.

  4. #4
    Senior Member Reputation points: 44950
    Join Date
    Oct 2021

    Use the 1/3 rule - 100 applications ---> 33 approvals -----> 11 requested/signed contracts -----> 3-4 fund

    And if you are specifically sending your subs to the correct funders given you review/scrub the file a bit when you get the submission in, you will eliminate a lot of emails and headaches which will hopefully fund a few more deals since 'shot gunning' the file from A-D funders will just make you look dumb and cause the funders to think your shop has no clue what you are doing.

    Ex: Merchant funded 3 times in May but you send to IOU, Kapitus and National? Like why???

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