Results 1 to 21 of 21
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04-28-2016, 12:34 PM #1
Reputation points: 24
- Join Date
- Dec 2015
- Posts
- 25
"Hi, Rob? I'm A Direct Lender"
I got a call earlier this month from www.cashcapital.com the guy's name was Jerry Scott (supposedly). He told me he was a Direct Lender, same day commissions, and that no other broker could go after the same deal for 30 days once I've sent it to him. I was trying to replace Everest / Knight Cap
This guy sent deals to Pearl, MCC and US WORKING CAPITAL.
He would tell me "Declined, trucking, mean while the merchant is like who the F"
I sent him a lot of my submissions, he funded a few.. One was for $60,000 a 1.36 with Pearl. (Just found out today)
Just wanted any of you honest brokers (Which I doubt there are very many) To be aware of this guy Jerry Scott www.cashcapital.com
Here's the signature from his emails;
Jerry Scott
Cash Capital
A Delaware Corporation
Jerry Scott • National ISO Relations Manager
Cash Capital Group LLC |1013 Centre Rd Suite 403s | Wilmington, DE 19805
302-232-8233 | F. | Jerry@cashcapital.com
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04-28-2016, 01:03 PM #2
Reputation points: 1370
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
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04-28-2016, 01:14 PM #3
Nothing is more astounding than the willingness of people to just send their deals off to some guy because of a cold call. You should do thorough due diligence on any funder you work with since you are transmitting a merchant's most sensitive information.
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04-28-2016, 01:19 PM #4
Reputation points: 1370
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
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04-28-2016, 01:28 PM #5
Reputation points: 338677
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,485
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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04-28-2016, 01:29 PM #6John 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
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04-28-2016, 01:33 PM #7
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04-28-2016, 01:33 PM #8
That guy's company address is fake. It's a registered agent's office. The website is also riddled with typos.
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04-28-2016, 01:55 PM #9
Some advice: If anyone tells you they are a direct "lender," ask them how it is they lend. Do they comply with lending laws on a state-by-state basis or do they have a bank charter relationship? If a bank charter, ask them what bank. Verify it. If they have a lending license in a single state or multiple states, verify it.
If they don't know what you are talking about, end the conversation. If they purport to purchase future revenue streams but call themselves a direct "lender," end the conversation.
Where is their office? How many employees do they have? How long have they been in business for? Research them online. Is the contract language they present to merchants sound?
Right now there is a federal government lawsuit against the owners of a company that alleges among other things that they did not properly vet the lenders they sent leads to.
It's one thing to be ignorant and turn over your hard-work to some random company and cost yourself a commission and quite another to consider you are handing over the bank statements and social security # of a person to some random company that you don't even know is real.
Use your heads. Common sense is not just about making sure you get paid for your hard work but about protecting the clients you are in the business of helping.
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04-28-2016, 02:02 PM #10
Reputation points: 8656
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
Well said ^
Tommy Stein
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04-28-2016, 04:21 PM #11
Reputation points: 307559
- Join Date
- Jun 2015
- Posts
- 3,323
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04-28-2016, 04:34 PM #12
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04-28-2016, 06:15 PM #13
Reputation points: 24
- Join Date
- Dec 2015
- Posts
- 25
lol
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04-28-2016, 06:16 PM #14
Reputation points: 24
- Join Date
- Dec 2015
- Posts
- 25
Good.
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04-30-2016, 07:03 PM #15RYAN RIDGWAY Managing Partner, Strategic Capital
Office: 800.440.6448 | Direct: 816.298.0966 | Fax: 816.298.0857
10551 Barkley St. Suite 403 Overland Park, KS 66212
rridgway@capitalwithstrategy.com | www.capitalwithstrategy.com
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05-03-2016, 12:31 PM #16
Reputation points: 51665
- Join Date
- Mar 2016
- Posts
- 657
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05-03-2016, 12:39 PM #17
Reputation points: 307559
- Join Date
- Jun 2015
- Posts
- 3,323
of course if they cant answer any of sean questions and are offering high commission they will steal it .
What i am saying is that as a legitimate iso i can answer all of sean question and pose myself as a lender . the one thing i can't do is 15% commission because what will i make .
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05-11-2016, 05:24 PM #18Karen37aGuest
There are very few Direct lenders and many people are just brokers who put skin in the game (if they even do that), labeling themselves as Direct lenders.
Some of these Direct lenders treat the Iso's like glorified telemarketers anyway with their 14 day to close policies, no activity take your renewals crap.Last edited by Karen37a; 05-11-2016 at 05:29 PM.
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05-11-2016, 05:32 PM #19
As a direct funder, we have an entirely different philosaphy about how to work with our ISO's. We have 30 days exclusivity on all submissions, and we pay 100% commission on all renewals, as long as you close it, as we will not contact your clients without your authorization.
Last edited by iso@wallfunding; 05-11-2016 at 05:46 PM.
Wall Funding ISO Team
646-979-2161
partners@wallfunding.com
http://wallfunding.com/
30 Broad St, New York, NY, 10004
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05-11-2016, 05:42 PM #20
Reputation points: 20323
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 591
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05-11-2016, 05:45 PM #21Wall Funding ISO Team
646-979-2161
partners@wallfunding.com
http://wallfunding.com/
30 Broad St, New York, NY, 10004
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