Results 1 to 18 of 18
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04-24-2014, 04:18 PM #1
Money Merchant Network - On Deck
Gents,
Just had one of my deals stolen from an On Deck submission. I ONLY submit this deal to On Deck, and someone named "Mike O" from Money Merchant Network (MikeO@MoneyNetworkInc.com) called my client and said "I am aware you are in the process of negotiating a contract with a funding partner of ours; please forward the contracts they send out to you and we will beat it, hands down."
She said she has never been called by a company who does what we do, and has not submit any deals to anyone else. I have done 2 loans for her previously, and we have a great relationship.
Not sure how this information got to Mike. Any ideas guys?Last edited by Zach; 04-24-2014 at 05:11 PM.
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04-24-2014, 05:37 PM #2
Either someone at Ondeck tipped off a friend/ISO or an ISO finally found out how to pull data from a trigger list (gets data when a lender pulls credit).
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04-24-2014, 05:44 PM #3
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04-24-2014, 05:47 PM #4
[QUOTE=Zach;6130
"I am aware you are in the process of negotiating a contract with a funding partner of ours; please forward the contracts they send out to you and we will beat it, hands down."
QUOTE]
That's the weird quote that would show its not a standard UCC poach.
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04-24-2014, 05:56 PM #5
eh if it's a numbers game and you're calling UCCs that got funded 4-5 months ago, it might work to try that line on everybody. Some will be in the process of renewing or considering other options. The UCC game has been saturated for a long time so some people will try weird things.
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04-24-2014, 06:08 PM #6
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04-24-2014, 06:17 PM #7
during the financial crisis, UCC hunters were calling and saying:
"your current company [went out of business] [is shutting down][is not funding anymore][wishes they never got involved in this stupid industry] and we're in charge of your account going forward."
With so many ISOs and funders closing their doors or turning off funding, it was really easy for merchants to fall for. It was a feeding frenzy.
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04-24-2014, 07:43 PM #8
- Join Date
- Apr 2014
- Posts
- 21
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04-25-2014, 01:07 PM #9
After speaking with my rep at On Deck and my merchant, I believe it was a trigger lead.
Anyone know a good place to purchase On Deck's/CAN's trigger leads? Sounds like a good lead source.
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04-25-2014, 01:14 PM #10
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04-25-2014, 01:20 PM #11
I spoke to Bob at Meridian Leads years ago about this. He was also trying to figure trigger leads out for our industry. Maybe Bob can chime in and give his opinion on it if he is reading this post.......
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04-25-2014, 01:21 PM #12
Whats a trigger lead?
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04-25-2014, 01:42 PM #13
that would be an epic lead source.
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04-25-2014, 06:30 PM #14
- Join Date
- Apr 2014
- Location
- New York
- Posts
- 274
Money Merchant Network - On Deck
what's a trigger lead I second this
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04-27-2014, 11:22 AM #15
- Join Date
- Mar 2014
- Posts
- 147
Money Merchant Network - On Deck
What's a trigger lead ? Is it a deal on deck just funded ??
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04-27-2014, 11:32 AM #16
Brief answer: http://www.merchantprocessingresourc...trigger-leads/
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04-27-2014, 10:10 PM #17
- Join Date
- Mar 2014
- Posts
- 147
Money Merchant Network - On Deck
Wow Sean that's insane ! Thanks for the info. I sure hope we are not at that point in the industry.
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04-28-2014, 09:56 AM #18
god forbid anyone figures this out lol "chaos" indeed... people would be going to war...
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