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03-09-2017, 11:16 AM #1
Reputation points: 4856
- Join Date
- May 2016
- Location
- San Francisco & New York City
- Posts
- 75
Fundyman, MX211, and fisheMS:
Matt from BlueVine here. I understand your criticisms on the communication front. Not getting a call back right-away isn't a great experience.
To be completely candid, we are much better at response via email (partners@bluevine.com) vs. phone. This is by design - the process by which we fund and the types of deals that we fund generally don't require immediate phone responses to brokers. We can process email requests each day in a more scalable fashion than we can the hundreds of calls that come in each day.
Why? We don't ask for stips, our offers are HARD offers, and we approve & fund in less than 24 hours. In comparison to Kabbage in their broker days, we provide much higher phone customer service. To put the scale & process in perspective, we have received over 6 days in March from our broker channel: ~500 leads (pre-qualification), approved 30%, and will fund ~80% of those we approve. Our line of credit is very much a high-unit-volume game.
I want to assure you guys that we are constantly evaluating new ways to support you all efficiently. You're very important to us. Given all of the feedback we've heard regarding increased desire for phone support, we are evaluating ways internally to provide/staff this. Shoot me an email at partners@bluevine.com if you'd like to chat directly, and we can schedule at time. If there is an email that we have missed in error, please re-forward it to partners@bluevine.com so I can make sure your questions are answered.
As we evaluate ways to provide better customer service, I ask in the interim that you trust our process through some growing pains. Our process is simple: if you send in 650+ FICO clients with $15K+ in monthly revenue, we'll approve them at a 70%+ rate and book them at a 80%+ rate. We approve 97% in less than 24 hours (on average over last 3 months).
Talk to you soon,
Matt
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