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  1. #1
    Senior Member Reputation points: 20458 Fundyman's Avatar
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    F*ck Kabbage. Where's the New Similar Lender?

    We all know Kabbage no longer works with brokers. They had a decent product nonetheless.

    I have a client looking for a line of credit product only.

    Who out there does a similar loan model as Kabbage's but deals with brokers?

    I have a detailing business doing about $14K/mo, looking for a line of credit. Who can get it done?

  2. #2
    Senior Member Reputation points: 43599 brokerCompany's Avatar
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    14K MONTHLY looking for line of credit. LOL
    Don't even think bluevine will do that.

  3. #3
    Senior Member Reputation points: 20458 Fundyman's Avatar
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    Quote Originally Posted by brokerCompany View Post
    14K MONTHLY looking for line of credit. LOL
    Don't even think bluevine will do that.
    LOL! But remember, Kabbage used to do those all day! They still do, without brokers.

  4. #4
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    Quote Originally Posted by Fundyman View Post
    LOL! But remember, Kabbage used to do those all day! They still do, without brokers.
    Fundyman-too small for us...sorry.
    Hedley Lamarr......That's Hedley

  5. #5
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    wasnt there a lender on here a month back saying that they can get you a commission on kabbage deals ? did anyone try them or remember their name

  6. #6
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    Michael it was these guys, but i had a bad experience buying leads from them before they became a funder
    http://dailyfunder.com/showthread.ph...ghlight=lendio

  7. #7
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    Quote Originally Posted by RickyR3712 View Post
    Michael it was these guys, but i had a bad experience buying leads from them before they became a funder
    http://dailyfunder.com/showthread.ph...ghlight=lendio
    They still aren't funders... the leads sucked because they would broker out the good files and sell the **** to 20 other brokers thinking they are buying layups!

  8. #8
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    While they no longer work with brokers they technically still pay referral fees- albeit its only $200. I've funded 8 or 9 deals with them on the below link. Just have a processor load up all of your merchant declines into it, you'll get some revenue back. Bluevine is also a decent LOC product, I use both.

    https://www.kabbage.com/invite/
    Last edited by FundingCzar; 02-16-2017 at 04:24 PM.

  9. #9
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    Quote Originally Posted by MCABroker View Post
    They still aren't funders... the leads sucked because they would broker out the good files and sell the **** to 20 other brokers thinking they are buying layups!
    It was worse then that . They were buying from edirex who sold it to 4 others, then the **** ones were sold by them.

  10. #10
    We are a direct lender, work with brokers, and offer a line of credit product. You can reach me directly at christina@financingsolutionsnow.com

  11. #11
    Senior Member Reputation points: 20458 Fundyman's Avatar
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    Quote Originally Posted by RickyR3712 View Post
    Michael it was these guys, but i had a bad experience buying leads from them before they became a funder
    http://dailyfunder.com/showthread.ph...ghlight=lendio
    Ha! I'm remembering the thread even now, as I read!

  12. #12
    Senior Member Reputation points: 20458 Fundyman's Avatar
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    Quote Originally Posted by FinSolNow_Christina View Post
    We are a direct lender, work with brokers, and offer a line of credit product. You can reach me directly at christina@financingsolutionsnow.com
    Thanks, Christina. I'll shoot you an email soon.

  13. #13
    BlueVine
    .... doesn't answer the phone.

  14. #14
    Senior Member Reputation points: 20458 Fundyman's Avatar
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    Quote Originally Posted by MX211 View Post
    BlueVine
    .... doesn't answer the phone.
    That' soooooo strange... They don't answer the phone, don't return emails, don't... don't, ... don't, not even today...

  15. #15
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    Fundyman, look into Headway Capital

  16. #16
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    at this point im expecting the next time ill hear from bluevine is via press release, the voicemail on their sales partner line doesnt even pick up anymore. the last time i got an email response from them was 2.27.

  17. #17
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    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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