Results 26 to 31 of 31
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04-04-2014, 08:20 AM #26
- Join Date
- Jan 2013
- Location
- New York City
- Posts
- 409
You are right MCN. Not gonna work under the way you described. That's why we have innovated around that. You have no idea what goes on in the background. How we approached and solved that problem. PREEMPTIVELY.
Here's the thing. Everyone has an opinion. I just closed a seed round. Our investors are awesome, talented people. Our mentors are world class.
Their opinions matter to me the most because they are all millionaires. Generally speaking they don't bet the horse - they bet the jockey.
Additionally.
YOU: Direct mail doesn't work.
US: Direct mail is awesome.
It works if you know how to work it. We know how to work it.Last edited by JayBallentine; 04-04-2014 at 08:28 AM.
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04-04-2014, 08:41 AM #27
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
I hope you prove me wrong Jay! Good luck!
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04-04-2014, 09:12 AM #28
- Join Date
- Jun 2013
- Posts
- 351
Yeah, Merit, was owned by Leaf...
Don't tell me you forgot about them already. I believe their model was that if they continued to fund more deals, their bad debt couldn't possibly exceed a certain threshold so all they had to do was keep funding. They had no underwriters, just a scoring model and 2 admins that would do a "funding call"
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04-04-2014, 09:20 AM #29
I remember Merit...best commissions and spiffs ever...12 points on the payback and a 5 point bonus...17 points in total on a 1.39...ya that did not last long......
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04-04-2014, 09:33 AM #30
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
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04-04-2014, 11:55 AM #31
"Why are merchants being subject to multiple credit checks in order to evaluate funding options at multiple funders?"
Because each funder submitted to wants to run their own credit. Then you have some ISO's running credit themselves "to decide where to send"
Funders will not trust the sales reps on the credit content of a report. How many reps deliberately or inadvertently send in a submission with fraudulent statements?