[CashCat]

Midnight Advance backdoors via Fundzini....

[CashCat]

And stay the Hell away from FUNDZIO.....decline the deal for me...turn around and send contracts to the merchant 4 days later...then pretend it was another Underwriter that approved the deal.
The owner had to call...i have the emails just not the time to cut and paste all the lies....

[WestCoastFunding]

So is there a list of funders that don't backdoor?

[StealMyDeal]

So is there a list of funders that don't backdoor?

Every funder steals. Some do it legitimately, because they build their right to do so right into the ISO agreement. Some backdoor. Some have an internal sales team. At the end of the day, every fundable deal eventually gets funded. If the ISO isn't getting it done, somebody else will. The best you can hope for is that a funder will give you a decent shot at selling their deal. The ones that immediately go around or backdoor or the real pieces of garbage. But you can't expect somebody to udnerwrite a deal, make an offer, and then just give you until infinity to hopefully close it. At a certain point they're gonna take their shot. But they should still pay you something if they fund it, even if not full commish.

[NoBigDeal]

So is there a list of funders that don't backdoor?

Pearl Capital is one of the last remaining strictly ISO-based Funding companies in the industry
No sales entity, no backdooring

Strong B Paper Funder going out to 12 months on qualifying 1st position/ 10 months on 2nd's

PM me if you're not signed up and are looking to not have your deals stolen

[fundingsmbs]

^ some have gotten very savvy on their ISO agreements to allow them to solicit the merchant once you submit the app and banks over. It flat out says, they can solicit your merchant as it becomes their merchant. so many people sign ISO agreements without reading them it's mind boggling. If you don't red line parts of an agreement, chances are you are going to get screwed. There are twists and turns on shutting you down on renewals, direct solicitations to merchants once submitted, getting cutoff if you don't keep production going into funder, etc etc.


re pearl- everyone we worked with left to KCG. Whats happening @ Pearl?

[WestCoastFunding]

re pearl- everyone we worked with left to KCG. Whats happening @ Pearl?

I didn’t know Sara and Alan were a team until I found out they went to KCG together.

[NoBigDeal]

^ some have gotten very savvy on their ISO agreements to allow them to solicit the merchant once you submit the app and banks over. It flat out says, they can solicit your merchant as it becomes their merchant. so many people sign ISO agreements without reading them it's mind boggling. If you don't red line parts of an agreement, chances are you are going to get screwed. There are twists and turns on shutting you down on renewals, direct solicitations to merchants once submitted, getting cutoff if you don't keep production going into funder, etc etc.


re pearl- everyone we worked with left to KCG. Whats happening @ Pearl?

Pearl's still alive and funding strong! I've been at Pearl for 4 1/2 years and know the ins and outs of the industry and can assure you'll stay in good hands

[NoBigDeal]

I didn’t know Sara and Alan were a team until I found out they went to KCG together.

They're definitely rock stars

[Jess]

Pearl Capital is one of the last remaining strictly ISO-based Funding companies in the industry
No sales entity, no backdooring

Strong B Paper Funder going out to 12 months on qualifying 1st position/ 10 months on 2nd's

PM me if you're not signed up and are looking to not have your deals stolen

Doesn’t pearl own Skybridge Funding? You don’t direct market via that entity?

[fundingsmbs]

^ wow.

[NoBigDeal]

Doesn’t pearl own Skybridge Funding? You don’t direct market via that entity?

Direct market to merchants, yes.
Funnel ISO business (even after our 7 day of ISO approval exclusivity) to that entity, no

Pearl/Skybridge tried the direct marketing route but found it to be much too costly and not worth it. Don't even think they're still doing it. I can find out with certainty if you'd like?

Regardless, I stand by my statement about Pearl being of the few ISO-only shops

[fundingsmbs]

not a fan of companies saying they don't do direct marketing only to find they have created another entity or purchased an ISO to use as a direct sales marketing arm. we know what happens with that setup and it isn't good typically. deals get funneled that are broker deals, renewals unloads deals to them so they look like the record of deal, etc. Not saying you all do that but overall, this practice isn't a good one. I would be willing to bet a significant amount of commissions industry wide have been lost with this setup of entities funders create to market to other funders.

[Jess]

Got a skybridge ad on Facebook a couple of weeks ago.

[NoBigDeal]

not a fan of companies saying they don't do direct marketing only to find they have created another entity or purchased an ISO to use as a direct sales marketing arm. we know what happens with that setup and it isn't good typically. deals get funneled that are broker deals, renewals unloads deals to them so they look like the record of deal, etc. Not saying you all do that but overall, this practice isn't a good one. I would be willing to bet a significant amount of commissions industry wide have been lost with this setup of entities funders create to market to other funders.

Curious to know which Funders you use?
I've been with Pearl before and after the sale so I've definitely seen where Pearl has been and how far it's come. I've never had an ISO complain/accuse me about their deals (or renewals) "get funneled"

[NoBigDeal]

Got a skybridge ad on Facebook a couple of weeks ago.

Cool Jess, you caught me

[JK@PEARL]

Got a skybridge ad on Facebook a couple of weeks ago.

Skybridge is a micro-MCA product with automated offers focused on smaller businesses (think Vader). Still no direct sales team and no intention of marketing to your clients.

[Jess]

Skybridge is a micro-MCA product with automated offers focused on smaller businesses (think Vader). Still no direct sales team and no intention of marketing to your clients.

Got it-so since you are marketing on Facebook. What do you do with the leads for businesses that require $15k+?

[JK@PEARL]

We are targeting smaller businesses, so that doesn't happen much.

[Jess]

We are targeting smaller businesses, so that doesn't happen much.

I guess the ad my business received was an anonoly then. Thanks