[Michael I]

I feel like I am seeing more and more of lenders funding restricted industry when the merchant goes direct to them .
Anyone else seeing it also?

[Triton]

I haven't noticed but it wouldn't surprise me.

[bsmith]

It reduces the funder's cost by cutting out the iso, therefore reducing the risk if you ask me.

[Michael I]

last week alone i saw 2 ondeck deals that were funded and are gc . an auto sales funded by bfs and real estate funded by swift . all were really low factors 1 or 2 points above buy rate .
i sent an email to my rep and he said no we never fund that industry

[FUNd]

Great way to give themselves exclusivity on a certain SIC. If you have the money, you call the shots I guess.

[mcaguru]

If they want to believe it or not funders at the mercy of the ISO/Brokers on the street for many reasons. keep in mind even when a funding house funds a merchants directly they still are in the hands of an agent that will eventually come in contact with that merchant. The sooner the large lenders realize that the better they will adapt to that fact the better off they will be

[Chambo]

If they want to believe it or not funders at the mercy of the ISO/Brokers on the street for many reasons. keep in mind even when a funding house funds a merchants directly they still are in the hands of an agent that will eventually come in contact with that merchant. The sooner the large lenders realize that the better they will adapt to that fact the better off they will be

Considering ODC is moving farther and farther way form the traditional broker model....and CAN (and others are putting salaried reps in place to handle renewals and stips.....you couldn't be farther from the truth

[FUNd]

Considering ODC is moving farther and farther way form the traditional broker model....and CAN (and others are putting salaried reps in place to handle renewals and stips.....you couldn't be farther from the truth

You're scaring me.

[Funder Mark]

Considering ODC is moving farther and farther way form the traditional broker model....and CAN (and others are putting salaried reps in place to handle renewals and stips.....you couldn't be farther from the truth

Wasn't there a news article recently that the percentage of deals that On Deck funded through brokers just went up? And if CAN and others are hiring reps to handle renewals, does that mean that brokers will not get paid on them?

[Chambo]

Wasn't there a news article recently that the percentage of deals that On Deck funded through brokers just went up? And if CAN and others are hiring reps to handle renewals, does that mean that brokers will not get paid on them?

they'll get paid less and less. The merchant will speak to ISO less and less. Then, all of a sudden "Oh, the merchant went bad", or "Oh, we got paid off on this deal", or "We had to downsell it to keep the file, so you only get one point"