[jotucker1983]

I'm thankful that I haven't had to deal with this issue with the funders/lenders I work with, but then again, I've been working with the same select group of funders/lenders for years now.

[Miller192]

90 percent of funders back door deals...in some cases it's from the company itself and in other cases it's the employees of that company stealing the files......

When I first read this, I thought it was an exaggeration. Just had a large lender (one of their employees) back door a deal on us. The merchant accidentally put our 800 number on the application and we get a call from someone asking for the merchant in regards to his application.

Really sucks when you can't trust the people you enter into a business relationship with

[J.Celifarco]

When I first read this, I thought it was an exaggeration. Just had a large lender (one of their employees) back door a deal on us. The merchant accidentally put our 800 number on the application and we get a call from someone asking for the merchant in regards to his application.

Really sucks when you can't trust the people you enter into a business relationship with

what funder?? did they handle it properly?

[Miller192]

what funder?? did they handle it properly?

I really don't want to out the lender as it's probably one rogue employee, but we did confirm it with the broker it was sent to.

[J.Celifarco]

I really don't want to out the lender as it's probably one rogue employee, but we did confirm it with the broker it was sent to.

fair enough, hopefully everything was resolved in a way that is fair to all parties

[Miller192]

fair enough, hopefully everything was resolved in a way that is fair to all parties

It wasn't unfortunately. We just won't send them anymore deals and will terminate our relationship. If they can't control their employees, I don't want anything to do with them.

The irony to this is that we had one of their merchants tell us they (merchant) are going to default. I was going to try and get out in front of it and warn the lender but I've suddenly lost interest. Large advance too.

[J.Celifarco]

It wasn't unfortunately. We just won't send them anymore deals and will terminate our relationship. If they can't control their employees, I don't want anything to do with them.

The irony to this is that we had one of their merchants tell us they (merchant) are going to default. I was going to try and get out in front of it and warn the lender but I've suddenly lost interest. Large advance too.

I hear ya and that sucks but no gain from not telling them. Is it worth burning the bridge, like you said they didn't do it

[bdshaw]

anybody that steals an iso's hard work and marketing dollars is a piece of **** that deserves to be run over by a bus.

agreed

[MCAVeteran]

agreed

Just have your attorney send a demand letter outlining the lost revenue and breach of agreement. As far as rogue employees the company is on the hook
For its employees when it comes to stealing database of merchants that cause loss in revenue. The company would have to pursue employee legally but you signed up with company not employee for liabilities

[Valentine]

It is the norm as far as I am concerned.We need to start exposing their names and stop playing nice with them.

[TheShitzuofMCA]

That sucks and extremely frustrating, I work for a company that respects ISO hard work. We understand the file belongs to the ISO, and we make sure to pay that ISO for any and all renewals in the future. If you need an honest funding company we can use honest brokers, please PM me. We all know Karma is a hot blonde that wants your money, to an amazing 2016 $$$.