[CreditGuy]

My friend, don't you have deals to close, or at least something remotely more productive to do with your time than surf the SunBiz website and try to poke holes in our business?

I'm not a jobber hammering phones. I'm aware of SOS requirements because that's my job as a guy that underwrites credit. The only "research" I had to do was find the statutory language. This didn't take me as long as you assume.

We are well aware of what the legal requirements are for our company, and I assure you we're in full compliance thereof.

Then why, as asked above, isn't your business registered as a foreign limited partnership with FL SOS as is required?

But we don't have time to keep responding to nonsense all day.

Yet here you are...

Look, you are clearly defensive and wish people would just shut up and send you business. Myself, and some other folks here, underwrite businesses for a living and part of that is making sure people are in legal compliance and generally on the up and up. Your website, your lack of SOS registration, and various other things you've said here are a cause for legitimate concern and risk signals that your operation isn't ready for primetime. You are asking that people here refer you their customers, which in almost all instances are the owner's sole source of income/livelihood. You are asking people to send you highly sensitive business and personal information that is easily used for identity theft or other avenues of abuse. You're not asking for them to refer people to your pizza shop.

[HDF]

WELL SAID^

Syd may very well be a great guy, but you really need to get your act together for everyone's sake. As an industry, all of us need to step it up a bit.

[mcaguru]

At least you guys are honest and not looking to hurt this funder. I bet you at some shop somewhere in America the head of sales just got out the Megaphone and pleaded with the reps to get any deal that seems bad over to these guys before they smarten up..( i am not saying this funder will fool for it).

[WestCoastFunding]

Very well said.

This guy is asking people to send over their clients' personal information (including SS#) and business bank statements, but doesn't want to ease people's concerns that he's not legit. And when people ask basic commonsense questions, he gets defensive. Defensiveness is generally a good sign that someone is trying to hide something. All the other funders on this forum have no problems answering any of these questions.

But when you combine lack of SOS registration, lack of internet footprint, a single page website written in "Ipsum Lorem" and outright anger at people attempting to vet your company, people are going to be highly-skeptical.

If this is the public face of your customer service and ISO outreach, one can only imagine the hell one would have to go through working with you.

[mcaguru]

With all said...There is a great chance that if you met these folks you would not have posted any of the above.

[SydCapital]

Thank you all for the public feedback and the private messages/emails. We look forward to working with anyone who is interested in our programs.

We are also willing to provide, privately, any additional information or documentation necessary to substantiate the legitimacy of our operation, once we have an ISO agreement in place and the provisions of confidentiality and non-disclosure are mutually agreed to. We do not expect anybody to send us a submission unless and until they have fully vetted us and are comfortable with moving forward.

We understand the many justified reasons for skepticism in this space, and we will ensure that our company provides transparency to our partners. The operative word here is "partners" - we are not going to open up our books in a public forum. We look forward to building strong, profitable relationships many new partners in the coming months.

In short, you might not like our website, you might question whether we are non-compliant with statutory filing requirements (we are not), and you might have any number of other questions or concerns about our company. We'll do our best to provide you with the answers you are looking for, but there's a limit to how much we can (or should be expected to) publish publicly.

[HDF]

With all said...There is a great chance that if you met these folks you would not have posted any of the above.

Exactly true. But it also isn't surprising that you support his lack of professionalism.

[mcaguru]

the only question anyone would be OK asking would be a First and Last name,

[CreditGuy]

We are well aware of what the legal requirements are for our company, and I assure you we're in full compliance thereof.

you might question whether we are compliant with statutory filing requirements (we are not)

I'll just leave this here.

[TedFundy]

^^^ ..........yeahhhhhh about that........... ^^^

[WestCoastFunding]

"We are also willing to provide, privately, any additional information or documentation necessary to substantiate the legitimacy of our operation, once we have an ISO agreement in place"

Provide information relating to your company's legitimacy AFTER an ISO agreement is in place?

That's not supposed to be how this works.

[SydCapital]

I'll just leave this here.

I meant non-compliant, which we are not. We are compliant.

[FCG]

The falcons blew a 28-3 lead

[mcaguru]

Exactly true. But it also isn't surprising that you support his lack of professionalism.

That's because i don't confuse professionalism and success.

I know a few guys worth deep in the 9 digits that have/had (sold) extremely large companies that i can assure you have products that they created that when you look at their shirts you know what they ate for lunch!

[NoBigDeal]

I'll just leave this here.

this is fake news. If you look above, that's not what the original post said

[HDF]

That's because i don't confuse professionalism and success.

Yes, that is very apparent, Guru.

[mcaguru]

That's because i don't confuse professionalism and success.

Yes, that is very apparent, Guru.

[WestCoastFunding]

We expect funders to thoroughly vet borrowers to make sure they're legit. Many funders will -- rightfully -- vet ISOs. As a broker myself I've learned to vet my ISOs. So why wouldn't we expect ISOs to vet people claiming to be direct funders? We owe it to our clients to vet funders. Just send in people's personal and business information/documents to unknown, unvetted entities who'se only internet footprint is a post on a message board?

Even more, what's this person's name? All the other funders will provide name and contact information. This guy won't tell us his first and last name (unless his actual name is Syd Capital).

It's in everyone's interest in this industry to make sure that we reduce/eliminate exposure of clients info to fraud. Therefore, it's in everyone's interest to make sure funders are vetted, so as to avoid stories that will hurt the industry.

[Fundyman]

eyo...... Can't we ALLL JUS GET ALONG??????



(I just HAD to do it cause I'm so late catching up on this tonight...)

[jotucker1983]

Jumped the gun a little to start submissions flow; also, we don't originate internally or market directly to merchants, so our web presence has been low on the priority list. All that really matters is how we put out our money, how we collect, and how we treat the people who send us deals. Basic site should be finished shortly.

No, that's not ALL that matters. There's a ton of fraud going on in the industry with deals getting stolen, merchant's information being stolen, and all types of other shady activities. You need to properly identify and represent yourself in this marketplace to be taken seriously.

Also if you don't originate internally, then how are you a direct funder/lender?

- How much volume have you already done? I'm not going to publish that information. Historically, not much on our own paper, but with this new influx of liquidity we anticipate doing lot of deals going forward.

What does "not much" mean? And why don't you want to release your volumes? How am I as a prospective broker to your company going to know that you have the experience, platforms, people, and technology to HANDLE a deal flow if you haven't actually HANDLED deal flow before?

- Why is it that when I Google you, literally nothing comes up? I don't work for Google so I can't answer that, sorry

And I don't work for the telephone company, but my office has a telephone line. What kind of answer is this? You really believe in 2017 that not having ANY Google presence is funny? Your telephone number doesn't even come up under your business name when doing a Google Search. You think that's funny?

In short, you might not like our website, you might question whether we are non-compliant with statutory filing requirements (we are not), and you might have any number of other questions or concerns about our company. We'll do our best to provide you with the answers you are looking for, but there's a limit to how much we can (or should be expected to) publish publicly.

You can't be damn serious lol.

[WestCoastFunding]

We understand the many justified reasons for skepticism in this space, and we withere's a limit to how much we can (or should be expected to) publish publicly.

Right! How dare anyone ask what your ACTUAL NAME is, while you ask others to send their clients' sensitive personal and business financial information.

Sounds legit.

[RickyR3712]

It is such a shame as a real micro deal funder is needed . Meaning someone with good credit and just low volume to get a normal 6 month type deal(not 1.50 2 months) and fund in a day with minimal stips. Loan me used to be that lender but now they really only approve higher volume.

[mcaguru]

It is such a shame as a real micro deal funder is needed . Meaning someone with good credit and just low volume to get a normal 6 month type deal(not 1.50 2 months) and fund in a day with minimal stips. Loan me used to be that lender but now they really only approve higher volume.

I believe (I can back it up) that i was the first to use the term "Micro Deals" within our ACH/MCA industry (I took it from the leasing space were under 5K in equipment they use the term Micro leasing.. usually for credit card terminals/copy machines/ point of use water coolers/ vending machines/ etc)....
and with that said I believe MANTIS is probably one of the largest if not "the" largest in the micro files space: we have several underwriters just covering files with deposits as low as $4K up to 25k in monthly deposits. those files we overlook (for the most part) LOW CREDIT / LOW # OF MONTHLY DEPOSITS / HIGH NSF'S / INCONSISTENT REVENUES /

We also get you offers (or declines) in a FEW HOURS with FEW STIPS /(Almost NEVER COJ on Micro Files) and funds hours after contracts-back-in with DOUBLE DIGIT COMMISSIONS!!!


WE ALSO LOVE FUNDING LARGE FILES!!
sign-up today!

[RickyR3712]

Thank you however you are a high risk product. meaning i send you a file doing 10k a month you approve it for $2500 over 3 months at 1.49.What i am referring to is someone doing 5k to get a 5k 1.3 6 months approval.That same merchant with excellent credit if he was doing 20k he can get an 18 month 20k approval at a 1.3

[mcaguru]

Thank you however you are a high risk product. meaning i send you a file doing 10k a month you approve it for $2500 over 3 months at 1.49.What i am referring to is someone doing 5k to get a 5k 1.3 6 months approval.That same merchant with excellent credit if he was doing 20k he can get an 18 month 20k approval at a 1.3

I believe you described a worse case scenario offer.