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06-29-2016, 10:47 AM #1
Flow Lending- Are these guys Direct Lenders?
One of their reps calls me everyday of the week. Can anyone tell me if they are in fact direct lenders? They've got an Under 600 Fico term loan product that I like, but I want to be sure they are not some broker front before I engage in communication with them. Looks like they are out of Auburndale NY.
Thanks!
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06-29-2016, 10:57 AM #2
- Join Date
- Jul 2015
- Posts
- 1,202
I'd call them and ask specifically who they are backed by and what licenses they have on file. They have claimed to be backed by a "billionaire".
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06-29-2016, 11:06 AM #3
I'm pretty sure they're just an ISO.
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09-19-2016, 09:46 PM #4
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- Jan 2015
- Posts
- 77
Sean,
Please advise no where on any of these forums or emails or texts have we EVER advertised that we are a Direct Lender no have we ever implied that. Our approach is to simply have the opportunity to turnaround tough to do files or declines. We get referrals from CPA.Business brokers and MCA shops. Like any service were not going to be 100% with 100 percent of the people everytime. We've have upfront and transparent in our approach.
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06-29-2016, 11:09 AM #5
Thanks Sean and HDF.
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06-29-2016, 11:13 AM #6
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06-29-2016, 11:15 AM #7
- Join Date
- Jan 2016
- Posts
- 435
They called my a few weeks ago and the rep could not tell me anything other than "this amazing term loan for businesses going out to 10 years". They claimed to be a direct lender but everything about them screams broker... they could not even tell me what they needed for a submission...
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09-19-2016, 10:04 PM #8
- Join Date
- Jan 2015
- Posts
- 77
We are not a direct lender. But people benefit from our services. Each submission is customer tailored to a different lending product some are asset based some require more financials some are credit heavy. Im sure the person that reached out to was cordial and respectful I apologize if they did not address your concern and yes we are not a direct lender but our services are a bit more detailed than being a broker.
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06-29-2016, 11:23 AM #9
- Join Date
- Mar 2016
- Posts
- 657
You should ask them what they do with a file if it's declined? Do they send out to other "partners", or does the file simply die there? I'm not saying there's anything wrong with sending out to partners (YSC practically does it for a living), but being transparent about it would give you a better idea of how much of a Direct Funder they really are. Ask how often they approve vs. how often they "send to their partner."
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09-19-2016, 10:55 PM #10
- Join Date
- Jan 2015
- Posts
- 77
Nobigdeal we are not a direct lender nothing on our website implied this. Now we can like so many other shops out there get a white label contract and claim direct lender status, but we dont. We're improving everyday, refining our systems and discovering new products and platforms. It's not about what people can do already, it's what they dont have the time to do or what resources they have exhausted in regards to getting an approval. But thank you for providing the voice of reason. And yes we care about our reputation so we will valiantly defend it. If we're wrong about something, we admit and try to correct it. Thats what any growing company should do. But I cannot let this thread go unanswered in regards to anyone implying that we posed ourselves as direct lenders that is categorically false.
Last edited by JHausen; 09-20-2016 at 07:03 AM.
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06-29-2016, 11:25 AM #11
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- Jul 2015
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- 1,202
I've visited them (which I am often apt to do). As always, just ask a few questions that's all. I don't have a firm opinion on them.
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06-29-2016, 11:32 AM #12
They have been on this forum shopping out deals trying to find direct lenders to broker deals to. Here's one example: http://dailyfunder.com/showthread.ph...-Consolidation
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09-19-2016, 10:08 PM #13
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- Jan 2015
- Posts
- 77
Sean while have a lot solutions, we dont have all of them and we just like to hedge ourselves to in regards to getting the best possible scenario and sometimes its about getting a fast turnaround. But again let me reiterate we have never advertised ourselves as a direct lender. Our direct lenders like LQD, WBL and Funding Circle can confirm this.
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06-29-2016, 11:39 AM #14
Thanks again guys!
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06-29-2016, 11:56 AM #15
- Join Date
- Jun 2015
- Posts
- 3,326
they called me a month ago and failed every question that i ask in order to see if they are direct lenders . usually people get one or two right .
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06-29-2016, 12:10 PM #16
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- Mar 2016
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- 657
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09-19-2016, 09:32 PM #17
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- Jan 2015
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- 77
Micheal,
Please direct these questions to me and I can get the best answers for you. We have never advertised ourselves as direct lenders.
Please Advise.
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09-20-2016, 09:26 AM #18
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- Jun 2015
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09-20-2016, 09:52 AM #19
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- Jan 2015
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Micheal,
Anything you to know feel free to inbox me. We're all about coming up with solutions for clients. Its not about a fast buck with us. We feel our time as well as a brokers time is better leveraged in working dead deals or tough to do files. The average turn around for term-loan consolidation is 7 day 2 weeks or even longer a huge difference compared to mca which is hours. Again I thank you for the feedback wishing you a prosperous 4th quarter!!!
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09-19-2016, 10:10 PM #20
- Join Date
- Jan 2015
- Posts
- 77
What questions did you ask? Please address them to me. Im sure whoever contacted you was courteous and respectful.
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06-29-2016, 02:37 PM #21
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
They are brokers
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06-29-2016, 03:27 PM #22
- Join Date
- May 2016
- Posts
- 148
100% broker, supposedly they have a partnership with a funder exclusively or some derivation last time I spoke with them.
That being said I have heard good things about them but the whole "I'm a funder" talk really turned me off, I don't work with them.
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09-19-2016, 09:38 PM #23
- Join Date
- Jan 2015
- Posts
- 77
Funding Czar: When did we say this? Again, we never represented ourselves this way. We have gotten a lot of hard to do deals done and we're very resourceful in that aspect. There are a lot of things we can improve on without a doubt. We have direct lenders that work with us.
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06-29-2016, 10:04 PM #24
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 464
I have submitted multiple deals to them. 100% iso. The got nothing approved. I would advise against using them. They just waste your time and offer very little in the way of unique programs.
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09-19-2016, 09:40 PM #25
- Join Date
- Jan 2015
- Posts
- 77
Christian,
I apologize you feel that way. We are not a direct lender... at least not yet. But thank you for the valuable feedback. We will revise what happened in the submission process. If you submitted deals to us we thank you and yes you are right your time is valuable that cannot be replaced. If there can be a remedy we will reach out to you.Last edited by JHausen; 09-19-2016 at 10:31 PM.
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