White Whale, 10 Positions!!

**Funder Mark** · 02-22-2016, 11:13 AM

I just saw my first deal with 10 positions. Admittedly they were over 3 separate accounts, which do not cross over much, so it could be that none of the funders knew about the other accounts. That being said, when an underwriter sees this, do they look at it like going in as a 4th on the account, or as an 11th on the business?

**Triton** · 02-22-2016, 11:18 AM

They'll probably look at it as garbage. I know I would.
But from my experience they would see it as an 11th considering each of the advances probably have a UUC filed.

**AndyYSCISOdept** · 02-22-2016, 11:20 AM

Originally Posted by Funder Mark

I just saw my first deal with 10 positions. Admittedly they were over 3 separate accounts, which do not cross over much, so it could be that none of the funders knew about the other accounts. That being said, when an underwriter sees this, do they look at it like going in as a 4th on the account, or as an 11th on the business?

The underwriter SHOULD promptly "Pass on the file" and subsequently dump it in the trash, however, I would bet my last dollar that someone would take a flyer on it.

**Funder Mark** · 02-22-2016, 11:22 AM

Originally Posted by AndyYSCISOdept

The underwriter SHOULD promptly "Pass on the file" and subsequently dump it in the trash, however, I would bet my last dollar that someone would take a flyer on it.

Should it go to Yellowstone? Too late, you guys are already in there.

**AndyYSCISOdept** · 02-22-2016, 11:23 AM

Originally Posted by Funder Mark

Should it go to Yellowstone? Too late, you guys are already in there.

Yah and I'll bet you're the rep on 4 of the 10 positions

**Funder Mark** · 02-22-2016, 11:25 AM

Would be nice, but just saw it for the first time.

**AndyYSCISOdept** · 02-22-2016, 11:27 AM

Lol

**Michael I** · 02-22-2016, 11:41 AM

is it a IT services company ?

**CO1** · 02-22-2016, 11:54 AM

Pharmacy in buffalo?

**Funder Mark** · 02-22-2016, 11:58 AM

Its in Texas.

**bsmith** · 02-22-2016, 12:06 PM

Did you ask your underwriters? You are a direct high risk cash advance funder right?

**Funder Mark** · 02-22-2016, 12:55 PM

Originally Posted by bsmith

Did you ask your underwriters? You are a direct high risk cash advance funder right?

Yes, and it was obviously declined.

**bsmith** · 02-22-2016, 01:00 PM

Originally Posted by Funder Mark

Yes, and it was obviously declined.

Just out of curiosity, did your UW's answer vary from Triton's at all?

**Funder Mark** · 02-22-2016, 01:10 PM

Originally Posted by bsmith

Just out of curiosity, did your UW's answer vary from Triton's at all?

Simply said we are not interested in funding this deal with 10 open positions, so I believe they looked at it the same.

**AndyYSCISOdept** · 02-22-2016, 02:11 PM

Originally Posted by Funder Mark

Simply said we are not interested in funding this deal with 10 open positions, so I believe they looked at it the same.

Shocking.

**Mike Z** · 02-22-2016, 02:56 PM

iIf there is a chance he can be saved, Dan Page can save him. You may want to call Dan ar 303-938-8280.

**dpFund** · 02-22-2016, 03:37 PM

Originally Posted by Mike Z

iIf there is a chance he can be saved, Dan Page can save him. You may want to call Dan ar 303-938-8280.

Thank you for thinking of me Mike.

FunderMark - Happy to take a look. I have consolidated clients like this before, with multiple positions in different companies. It ultimately comes down to the numbers.

Feel free to reach out (email is best since I'm sometimes tough to reach by phone). I can promise you straight answers, good or bad.

Best,

Dan Page
dan@fundingstrategypartners.com

**Funder Mark** · 02-22-2016, 04:14 PM

Dan,

The ISO on this deal did think of you, but the client needs the money this week.

**aredmond** · 02-22-2016, 04:28 PM

Originally Posted by Funder Mark

Dan,

The ISO on this deal did think of you, but the client needs the money this week.

Does this merchant have a gambling problem? 10 open positions and he needs the money this week? Check his statements for ATM transactions at the MGM grand and or a booked flight to Vegas.....

**Funder Mark** · 02-22-2016, 04:37 PM

He has a cash advance problem.

**TStein** · 02-22-2016, 04:49 PM

Lets get them set up with an 11th and 12th position! Sounds like the perfect merchant!

**Funder Mark** · 02-22-2016, 04:53 PM

Originally Posted by TStein

Lets get them set up with an 11th and 12th position! Sounds like the perfect merchant!

Would YOU syndicate on an 11th position?

**Triton** · 02-22-2016, 05:01 PM

Originally Posted by Funder Mark

He has a cash advance problem.

I call it business crack

**dpFund** · 02-22-2016, 05:05 PM

Originally Posted by Funder Mark

Dan,

The ISO on this deal did think of you, but the client needs the money this week.

Thanks Mark,

Yep, I could not turn it around that fast. Best of luck!

**TStein** · 02-22-2016, 05:05 PM

Originally Posted by Funder Mark

Would YOU syndicate on an 11th position?

No, but I have a "high risk" funder who LOVES these types of files!

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White Whale, 10 Positions!!

White Whale, 10 Positions!!

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