[FUNd]

Businesses change sometimes by the quarter. A guy you can't get approved today, may be eligible for 100K in 3 or 4 months. Getting his application, getting the information, following up, and building rapport puts you first in line when he IS eligible down the road.

I believe in letting anyone and everyone apply. I have had so many merchants decline themselves in our initial conversation, convinced them to take 30 seconds, do the online application, and a week later they are thanking me profusely for saving or helping their business.

Get the app boys.

[jotucker1983]

Businesses change sometimes by the quarter. A guy you can't get approved today, may be eligible for 100K in 3 or 4 months. Getting his application, getting the information, following up, and building rapport puts you first in line when he IS eligible down the road.

I believe in letting anyone and everyone apply. I have had so many merchants decline themselves in our initial conversation, convinced them to take 30 seconds, do the online application, and a week later they are thanking me profusely for saving or helping their business.

Get the app boys.

I agree with this and I do this as well, I just don't take it the additional step further by having the guy fill out an application. After the pre-qualification is done, if I can't do anything with him right now because for example, he's stacked to high hell lol, then I setup a time in let's say 60 - 90 days to touch base to see where his status is.

I would touch base in 90 days, let's say the balances are down, everything else is still efficient, then I would go into the process of having him fill out the app and provide the last 3 - 6 months of statements.

John I agree with you on your points about a waste of time. You would not believe (actually you probably would) the amount of straight "garbage" submissions I get that have been sent to me with all the wrong kind of expectations because the REp/Broker has promised the guy the moon in order to get the app in. Getting an app that way isn't only a waste of time, it starts to leave a bad taste in my teams mouth and my underwriters mouths and, because we are only human, we start taking everything that broker says or sends with the proverbial "grain of salt".

Yeah, a lot of Brokers are just in "sales mode" and the "sales mode" is all about "closing". So to them, they "close" if they convince a merchant to send an application back. The only issue with this is that you aren't paid based on sending an application back, you are paid only when you fund something, that is unless you are somehow getting paid on app submissions.