[Business Funding Fairy]

... While I'm at, I would stay far far away from Simply Funding. I'll save that for another time.. but wow, just wow. Been in this space for 15 years and I guess it makes sense that I have some crazy experiences to share... There are so many honest and professional funders in this space.. but these two are not.

@ SBF... I am new to the arena and usually only read on here for possible programs that fit a few oddball files. But when you mentioned 'Simply', I got a quick rush of heat up my neck.

I recently branded out on my own right about the time COVID became a thing.... since it shut down a lot of funders active processing etc... it also affected being able to sign on as a new ISO. Therefore, I continue to mentor under a veteran broker learning the ropes. About a two months ago, we had a merchant reach out to us for renewal on a file. [we told her she could renew, send us updated banks... yada yada...FYI we have had her file for at least 2 years and 3 renewals, a repeat merchant]. In any case, the next day when we followed up to see if she was sending over the docs, she said she already signed contract and got her money... Our conversation right after that "... just curious did you go through another broker to submit your file after we spoke? merchant: "They called me and sent the contract, I am not sure how they did it. I just know they said they don't work with you anymore 'cause my batch paid you off ...???? " I was blown away , I mean they used the Big Red front door and just cut us out... It was a little discouraging to see as a new broker. I've only been doing this for two years, but that was crazy.

It probably doesn't help putting it out there as I am not sure if I felt better or worse when I saw it happened to someone else too. Anyway moving on... I am however, trying to find a good LOC funder that will do an initial soft pull and only hard pull after funding... or a possibly a fit for a merchant looking for a 2-5 year term.... if anyone has any suggestions, I mean since I'm here and all...