[EminentTransact]

Does anyone know why BU Financial is not answering there phone?

[Michael I]

do you mean these guys that were banned
http://dailyfunder.com/showthread.ph...business+union

[John Galt]

Better read prior posts on these guys.

[EminentTransact]

Thanks guys,


Don't know what is going on? They did fund a company recently that everyone in the the industry has blacklisted ? It's a wild show at BU Financial?

[John Galt]

They are an ISO not direct. Recently working with Everest etc.

[WestCoastFunding]

They are an ISO not direct. Recently working with Everest etc.

An ISO working with EBF? So essentially they are like 99% of ISOs who also work with EBF, but portray themselves as direct funders/lenders? Seems like long term this is such a losing strategy. Unless their goal is to close-up shop and create a new entity.

[HDF]

Are we really pretending that we don't know that smaller "funders" continually have liquidity issues and also tend to ISO things out regularly? (big ones too sometimes - gasp!) That would probably be fine if there were any transparency around here at all. Instead it is a bunch of assholes grasping at the next commission they can wrangle out of someone.

[J.Celifarco]

Are we really pretending that we don't know that smaller "funders" continually have liquidity issues and also tend to ISO things out regularly? (big ones too sometimes - gasp!) That would probably be fine if there were any transparency around here at all. Instead it is a bunch of assholes grasping at the next commission they can wrangle out of someone.

yes to all of this.. If everyone was just a little more honest, a lot more deals would get funded because people would not always think someone is trying to screw them

[EminentTransact]

BU Financial contracts shows them as the funder! has anyone else experience this?

[J.Celifarco]

Why do ISO's lie and say they are direct funders when they aren't. I have a number of ISO's that send deals to me and they all know I am not direct. Why lie market yourself for what you are, if you can get deals done for people that they can't do on their own they will still send you files and will appreciate the honesty. Some ISO's can get deals done that other ISO's cant some banks trust some ISO's more then others. In some cases a particular bank is just not taking new ISO's. There is nothing wrong with co-brokering deals if another ISO can do something you can't.. Be honest in the end you will fund more deals

[J.Celifarco]

BU Financial contracts shows them as the funder! has anyone else experience this?

They white labeled the contract.. Some banks will put an ISO logo on their contract if you send them enough business. Banks do it as a favor to their bigger ISO's and in return the ISO's send them more business because having their logo on the contracts gets them more business. I would bet most larger ISO's have this arrangement with at least one bank if not multiple

[EminentTransact]

"White Labeling" is truly deceiving then. So you can actually present yourself as a funder and get away with it? I understand from a business perspective why they would do this. Are they kind of like a funder because they work with a chartered bank or credit line to fund merchants?

[cardinalequity]

Why do ISO's lie and say they are direct funders when they aren't. I have a number of ISO's that send deals to me and they all know I am not direct. Why lie market yourself for what you are, if you can get deals done for people that they can't do on their own they will still send you files and will appreciate the honesty. Some ISO's can get deals done that other ISO's cant some banks trust some ISO's more then others. In some cases a particular bank is just not taking new ISO's. There is nothing wrong with co-brokering deals if another ISO can do something you can't.. Be honest in the end you will fund more deals

Because apparently people don't realize that doing business the right way pays off in the long term. Many short term thinkers in the space.

[J.Celifarco]

"White Labeling" is truly deceiving then. So you can actually present yourself as a funder and get away with it? I understand from a business perspective why they would do this. Are they kind of like a funder because they work with a chartered bank or credit line to fund merchants?

They are in no way like a funder they are a big ISO that allows them to do things that some smaller ISO's cant nothing more then that.. This is why it is important to know exactly who you send your deals to.. All this should be laid out in the ISO agreement and if they lied in the ISO agreement about anything then you may have a way to go after them legally if not then I dont think you have any recourse

[J.Celifarco]

Because apparently people don't realize that doing business the right way pays off in the long term. Many short term thinkers in the space.

agreed

[EminentTransact]

One thing is for sure, BU Financial funds the unfundable!

[John Galt]

BS. They don't fund, they are only an ISO. The sales pitch is alluring like any of us. Then they will attempt to keep your renewals. Not a good choice.

[WestCoastFunding]

BS. They don't fund, they are only an ISO. The sales pitch is alluring like any of us. Then they will attempt to keep your renewals. Not a good choice.

Which reminds me of the "private investment bank hustle". These operations calling themselves private investment banks offering fantastic term sheets $5M term at 7% over 7 years, and the minute you sign the term sheet you have to send them a bunch of DD fees. They eventually say they can't fund (never intended to fund) but will use their "strategic partners" to provide funding. Ends up being a $500,000 cash advance from BFS or the like. If the client refuses because they wanted something more traditional, they find that a lien has been placed on th AR. To release the lien the borrower gets stuck paying thousands to the "private investment bank". This was popular years ago.

[Austin@SCP]

Do not work with BU Financial. Search for prior posts.