Results 1 to 25 of 53
Hybrid View
-
01-08-2016, 02:15 PM #1
if you dont trust the bank is going to be honest with you of whos contract they received first then you are working with the wrong banks. Also it will be pretty clear which contract came in first because the bank will have time stamps on the received email with the contracts. Should be pretty easy to prove. I work with a couple of banks that use this policy and personally I like it. I hate when I submit a deal to ondeck and get the email that it is already in house. At least if I am competing with an iso at the same bank with them then we have access to the same numbers and it will come down to who is the better closer. That is better then me pitching one banks number and someone else blows me out of the water with some crazy offer
As to why a bank uses this policy, it is simple, gives them the best chance to get the deal. With ISO's shotgunning deals to 5 different banks, a banks is spending a lot of money underwriting deals that are not getting funded because the iso funds it at another bank. By opening up a deal to competition it increases the chances that the deal will fund at the bank.John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
Similar Threads
-
Holy s**t Everest
By Michael I in forum Merchant Cash AdvanceReplies: 32Last Post: 01-18-2016, 05:33 PM -
Everest
By 2014FUNDING in forum Merchant Cash AdvanceReplies: 7Last Post: 12-08-2015, 06:44 PM -
Climbing MT. Everest
By AVP Solutions in forum Payment ProcessingReplies: 0Last Post: 01-14-2015, 12:12 PM -
Lenders Stealing Clients / Renewal Commissions
By anonymous in forum Business LoansReplies: 3Last Post: 09-30-2014, 05:48 PM -
Merchant Bridge stealing Pearl/Horizon Apps *PROOF*
By fundingapocalypse in forum Merchant Cash AdvanceReplies: 2Last Post: 09-24-2014, 06:33 PM