[WhoisKingsley]

Ok cool. Here's the chance...

Questions:

1. What states can you legally fund in and do you have the necessary licensing to do so (are versed on the laws of every state- and the answer shouldn't include "we have an attorney for that". Your attorney isn't the one funding the deals)

2. Your underwriting Did you hire Larry the 22 year old college grad who worked @ a funding house for 3 months or do you have someone that knows what they are doing? How does your UW process work? Are you doing more pre-UW and doing the final after contracts are in.

3. Collections: No one wants the responsibility of getting a claw back because your due diligence and overall approval was out of hand.Brokers RELY on the funding houses to KNOW what can be affordable to the Merchant... in the cases where the rates/fees/and no PSFs, we expect you to have your sh*t together and know how to handle collections, reporting, renewals, notifications, and CUSTOMER SERVICE. I hate when merchants call me telling me their issues with a Funder bc they won't answer the phone or emails because they are a 3 person sh*t shop.

WHAT ELSE AM I MISSING? Should we just start a new thread of "What you need to lay on the line if you even want to attempt to introduce your Funding Company" ???

[J.Celifarco]

Ok cool. Here's the chance...

Questions:

1. What states can you legally fund in and do you have the necessary licensing to do so (are versed on the laws of every state- and the answer shouldn't include "we have an attorney for that". Your attorney isn't the one funding the deals)

2. Your underwriting Did you hire Larry the 22 year old college grad who worked @ a funding house for 3 months or do you have someone that knows what they are doing? How does your UW process work? Are you doing more pre-UW and doing the final after contracts are in.

3. Collections: No one wants the responsibility of getting a claw back because your due diligence and overall approval was out of hand.Brokers RELY on the funding houses to KNOW what can be affordable to the Merchant... in the cases where the rates/fees/and no PSFs, we expect you to have your sh*t together and know how to handle collections, reporting, renewals, notifications, and CUSTOMER SERVICE. I hate when merchants call me telling me their issues with a Funder bc they won't answer the phone or emails because they are a 3 person sh*t shop.

WHAT ELSE AM I MISSING? Should we just start a new thread of "What you need to lay on the line if you even want to attempt to introduce your Funding Company" ???

These things are a good place to start.. I like to ask gross hold % allowed on all terms.. Does it change with term of program or is it always the same