[GMB]

Amen Brother!!

There is one Broker shop in Vegas that tells Merchants they were approved for up to 50%-100% of their yearly gross at a 1.10- 1.12 3 year term, HOWEVER they had to pay $2500-$5000 UP FRONT to show they were serious!(in addition to a $500 "Application fee"). I got an offer for a client and had to convince them it was total BS. "Sorry, Mrs. Smith, but the $500,000 10 year term doesn't exist but here is $90,000 for $125,000!!"

The type of Broker/shop that does this just flat out does not care.....

Of all the Insanity I have previously read here this is to new heights in my opinion. Brokers are charging a Business Owner to review and underwrite an application they don't even actually review or underwrite. These are the same shops that are blasting out every submission they get to everyone they talk too. How about a little bit of ethics .... Before we get to legality. These are our clients why not treat them right from the beginning.