[Michael I]

Ha! Yep, I bet that is how Dealstruck, Can Capital did their underwriting. And we can see how it worked out for them, can't we? I'll bet they (and you) never looked at a P&L or Balance Sheet.

We look first at the P&L to determine true net income. Then we look at what the monthly payment would be for their desired level of funding. If they cannot afford the payment, it is a decline. That part takes ten minutes. If the client meets that threshold, it is all the work behind that which takes the time. Funders who do not do their homework go out of business.

Not at all, they did zero underwriting after and that is why it worked out that way .

look at sfs, bfs, swift ,rapid advance they all get back with a prequel quick and then you go to hell and back with stips after you get signed docs.

[WestCoastFunding]

Not at all, they did zero underwriting after and that is why it worked out that way .

look at sfs, bfs, swift ,rapid advance they all get back with a prequel quick and then you go to hell and back with stips after you get signed docs.

Hell and back with stips reflexively brings up thoughts of Principis.

[RichardGerard]

That's just it. I am not a MCA funder. :-)

And yes, if a client does not qualify for the requested amount, we absolutely recommend the lower amount they will qualify for.

The challenge is, most of the files I get have existing cash advances and I do not stack. I need to pay off all the cash advances or none of them. So if a client will not qualify for the total amount of cash advance balances, we let the broker know what the balances need to be at in order to prequalify for funding.


Hope this helps.

Dan; if your product isn't a loan, and it's purchasing future receivables, with a recovery amount- why aren't you an MCA Funder?

[BrennanCapitalPartners]

Haha. Is copying multiple funders on a submission a thing now? They didn't even BCC? That's hysterical.

That's like telling your wife that your girlfriend is pretty...

[Funder Mark]

Yesterday an ISO copied me on a submission, along with 6 other funders who compete in my general area. Any one of us could backdoor the file, and say it was one of the others. So before ISO's complain about backdooring, do your homework, make sure you work with trusted partners, and not too many either.

I thought this was as bad as it got, until I was just copied on a submission with 9 funders copied