Results 1 to 19 of 19
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01-13-2017, 12:58 PM #1
- Join Date
- Dec 2016
- Posts
- 31
BU Financial
Does anyone know why BU Financial is not answering there phone?
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01-13-2017, 01:03 PM #2
- Join Date
- Jun 2015
- Posts
- 3,325
do you mean these guys that were banned
http://dailyfunder.com/showthread.ph...business+union
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01-13-2017, 01:15 PM #3
- Join Date
- Apr 2015
- Location
- Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
- Posts
- 554
Better read prior posts on these guys.
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01-13-2017, 01:22 PM #4
- Join Date
- Dec 2016
- Posts
- 31
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?
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01-13-2017, 01:41 PM #5
- Join Date
- Apr 2015
- Location
- Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
- Posts
- 554
They are an ISO not direct. Recently working with Everest etc.
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01-13-2017, 02:00 PM #6
- Join Date
- Oct 2016
- Posts
- 4,318
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01-13-2017, 02:31 PM #7
- Join Date
- Jul 2015
- Posts
- 1,202
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.
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01-13-2017, 02:41 PM #8
Last edited by J.Celifarco; 01-13-2017 at 03:00 PM.
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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01-13-2017, 03:03 PM #9
- Join Date
- Dec 2016
- Posts
- 31
BU Financial contracts shows them as the funder! has anyone else experience this?
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01-13-2017, 03:08 PM #10
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
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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01-13-2017, 03:13 PM #11
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
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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01-13-2017, 03:45 PM #12
- Join Date
- Dec 2016
- Posts
- 31
"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?
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01-13-2017, 03:51 PM #13
- Join Date
- Nov 2014
- Posts
- 266
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01-13-2017, 03:53 PM #14
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
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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01-13-2017, 03:54 PM #15John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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01-13-2017, 03:56 PM #16
- Join Date
- Dec 2016
- Posts
- 31
One thing is for sure, BU Financial funds the unfundable!
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01-13-2017, 04:36 PM #17
- Join Date
- Apr 2015
- Location
- Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
- Posts
- 554
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.
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01-14-2017, 12:13 PM #18
- Join Date
- Oct 2016
- Posts
- 4,318
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.
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01-15-2017, 12:04 AM #19
- Join Date
- Aug 2015
- Posts
- 30
BU Financial
Do not work with BU Financial. Search for prior posts.
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