[Join Credibly]

Let's be clear, I am speaking of merchants that we obtain via lead buys. This is the main source of merchants that are funded through our internal team.... If that is the case, then yes we will contact the merchant down the road of course. If you are speaking about merchants that come through our ISO channel that receive an offer from us (which I am assuming you are) I have laid out your answer in my initial response. Again feel free to email me directly.

[WestCoastFunding]

Let's be clear, I am speaking of merchants that we obtain via lead buys. This is the main source of merchants that are funded through our internal team.... If that is the case, then yes we will contact the merchant down the road of course. If you are speaking about merchants that come through our ISO channel that receive an offer from us (which I am assuming you are) I have laid out your answer in my initial response..

Does Credibly’s inside sales team ever submit 2nd position deals to outside funders? Let us know.

[Join Credibly]

Only for a merchant that comes from a lead buy...and their 1st position can not be with us already. But again I assume you are asking about if an ISO partner brings us a deal and funds it with us, will we then shop a 2nd position to stack on ourselves...if that is your question, the answer is no.

[WestCoastFunding]

Only for a merchant that comes from a lead buy...and their 1st position can not be with us already. But again I assume you are asking about if an ISO partner brings us a deal and funds it with us, will we then shop a 2nd position to stack on ourselves...if that is your question, the answer is no.

No, that’s not what I’m asking at all.

If I submit a deal to Credibly, and Credibly provides an offer — but doesn’t fund — Credibly’s inside sales team will contact the merchant in the future. If Credibly’s inside sales team sees the merchant now has a 1st position advance in place with another funder, will Credibly’s inside sales team try and obtain them a 2nd position from another funder?

You said your inside sales team won’t stack Credibly. Will your inside sales team stack other funders?

[OC Funder]

Only for a merchant that comes from a lead buy...and their 1st position can not be with us already. But again I assume you are asking about if an ISO partner brings us a deal and funds it with us, will we then shop a 2nd position to stack on ourselves...if that is your question, the answer is no.

I think WCF's question isn't whether you stack deals that fund with you (obviously you wouldn't)... it's what you do with deals that DONT fund with you and come from an ISO. You said you email merchants after 90 days that ISOs submitted and didn't fund, but the ISO may have funded it with a competitor. If the merchant responds to your email and you broker it out for 2nd position, you're potentially damaging the ISO's future renewals.

[Join Credibly]

"If I submit a deal to Credibly, and Credibly provides an offer — but doesn’t fund — Credibly’s inside sales team will contact the merchant in the future." (I answered this already in my initial post)

"If Credibly’s inside sales team sees the merchant now has a 1st position advance in place with another funder, will Credibly’s inside sales team try and obtain them a 2nd position from another funder?" (this is a very broad question, it truly depends on the situation and the lender. As a general practice the bulk of our external deals are also 1st position, but there will be the occasional situation where the merchant has paid down their 1st position enough that affordability will allow us to obtain them a 2nd position...but we certainly do not market 2nd positions and we will not stack on our approved partners if they hold the first position)

You said your inside sales team won’t stack Credibly. Will your inside sales team stack other funders? (see above answer)

[Join Credibly]

Very valid point, as I stated in my response to WCF, 2nd positions are typically not a game we play in...we also do not work with any lender that requires Confession of Judgement as a rule. We try to stay in the 1st position game. On average our deals that fund external are 1st positions the bulk majority of the time and a larger majority come from lead buys not past ISO submissions that reply back to us down the road.

Again happy to discuss personally...just shoot me an email. Thank you for the feedback.

[Kevin Henry-Seacoast]

Very valid point, as I stated in my response to WCF, 2nd positions are typically not a game we play in...we also do not work with any lender that requires Confession of Judgement as a rule. We try to stay in the 1st position game. On average our deals that fund external are 1st positions the bulk majority of the time and a larger majority come from lead buys not past ISO submissions that reply back to us down the road.

Again happy to discuss personally...just shoot me an email. Thank you for the feedback.

Question: If the Company has a line of credit with a bank or is factoring with a finance company are you providing advances through internal leads or through ISOs?

[Join Credibly]

Question: If the Company has a line of credit with a bank or is factoring with a finance company are you providing advances through internal leads or through ISOs?

We can work that deal in our ISO channel, we would not count a LOC through a Bank as a position...and typically we will subordinate the UCC if they have a factoring agreement in place.

[Kevin Henry-Seacoast]

We can work that deal in our ISO channel, we would not count a LOC through a Bank as a position...and typically we will subordinate the UCC if they have a factoring agreement in place.

Why would you not count the bank LOC as a position? Most banks file UCCs on LOCs....

[Join Credibly]

Why would you not count the bank LOC as a position? Most banks file UCCs on LOCs....

If it is a monthly payback we dont require it to be paid off with proceeds from our loan nor do we consider it another position, has always been a rule we follow. We will look at it as it pertains to affordability of the deal, but we will not require it to be paid off with the proceeds

[HDF]

Very valid point, as I stated in my response to WCF, 2nd positions are typically not a game we play in...we also do not work with any lender that requires Confession of Judgement as a rule. We try to stay in the 1st position game. On average our deals that fund external are 1st positions the bulk majority of the time and a larger majority come from lead buys not past ISO submissions that reply back to us down the road.

Again happy to discuss personally...just shoot me an email. Thank you for the feedback.

Clearly not answering??

[WestCoastFunding]

Very valid point, as I stated in my response to WCF, 2nd positions are typically not a game we play in...we also do not work with any lender that requires Confession of Judgement as a rule. We try to stay in the 1st position game. On average our deals that fund external are 1st positions the bulk majority of the time and a larger majority come from lead buys not past ISO submissions that reply back to us down the road.

Again happy to discuss personally...just shoot me an email. Thank you for the feedback.

Translation: if you submit a deal to Credibly, but you end up funding with Rapid, there’s a 100% chance Credibly’s inside sales team will be contacting your merchant in the coming months. After finding out they’ve been funded with Rapid, Credibly’s inside sales team may try stacking them — denying the iso a renewal.

Tell me that isn’t a possibility?

[Michael I]

marcus are they the large A lender shop that funds with you?

[Michael I]

credibly do you really fund number 1 with aquillia or are they just putting you guys there each day as their number 1

[nationwidefunder]

marcus are they the large A lender shop that funds with you?

we need answers

[Join Credibly]

Clearly not answering??

I am not sure how much more clear I can be, please email me if you have further questions. I am being 100% transparent with you.

[Join Credibly]

Translation: if you submit a deal to Credibly, but you end up funding with Rapid, there’s a 100% chance Credibly’s inside sales team will be contacting your merchant in the coming months. After finding out they’ve been funded with Rapid, Credibly’s inside sales team may try stacking them — denying the iso a renewal.

Tell me that isn’t a possibility?

I have been nothing but professional with you and have answered your questions. I will not go down your rabbit hole of blanket statements and accusations....as I have stated to you numerous times now...PLEASE email me with any further clarifications you want to discuss. But to answer your question...again. No it is not "a 100% chance" that the inside team will call on an unfunded deal that you submitted in the past...in fact, it is a very rare occasion where that may happen. We spend a large sum of money each month on lead buys and that is what we focus our inside sales teams efforts on, our partnerships are too important to us.

This will be my last reply to you via a message board. Thank you

[OC Funder]

I am not sure how much more clear I can be, please email me if you have further questions. I am being 100% transparent with you.

The issue is you failed to directly acknowledge that emailing an ISO's file can cause direct financial harm to that ISO. If your agreement covers it then it's within your rights, but you have competition that respect that the ownership of the lead starts and stops with the submitting ISO and, if you don't, that's a disadvantage to working with Credibly. There are plenty of other benefits Credibly has to offer, it's just that nobody likes evasive responses.

[WestCoastFunding]

I have been nothing but professional with you and have answered your questions. I will not go down your rabbit hole of blanket statements and accusations....as I have stated to you numerous times now...PLEASE email me with any further clarifications you want to discuss. But to answer your question...again. No it is not "a 100% chance" that the inside team will call on an unfunded deal that you submitted in the past...in fact, it is a very rare occasion where that may happen. We spend a large sum of money each month on lead buys and that is what we focus our inside sales teams efforts on, our partnerships are too important to us.

This will be my last reply to you via a message board. Thank you

Got busted, and realize that your practice doesn’t look good at all, so then you go full drama queen to deflect.

[WestCoastFunding]

I have been nothing but professional with you and have answered your questions. I will not go down your rabbit hole of blanket statements and accusations....as I have stated to you numerous times now...PLEASE email me with any further clarifications you want to discuss. But to answer your question...again. No it is not "a 100% chance" that the inside team will call on an unfunded deal that you submitted in the past...in fact, it is a very rare occasion where that may happen. We spend a large sum of money each month on lead buys and that is what we focus our inside sales teams efforts on, our partnerships are too important to us.

This will be my last reply to you via a message board. Thank you

You know what Credibly has not said? I haven’t heard them say “we will not contact a merchant that our ISOs funded elsewhere, and stack them”.

[Join Credibly]

The issue is you failed to directly acknowledge that emailing an ISO's file can cause direct financial harm to that ISO. If your agreement covers it then it's within your rights, but you have competition that respect that the ownership of the lead starts and stops with the submitting ISO and, if you don't, that's a disadvantage to working with Credibly. There are plenty of other benefits Credibly has to offer, it's just that nobody likes evasive responses.

I do apologize if my answer was evasive I truly thought that I was being clear in my response. I thought that "We try to stay in the 1st position game. On average our deals that fund external are 1st positions the bulk majority of the time and a larger majority come from lead buys not past ISO submissions that reply back to us down the road." That felt pretty clear to me, but to be more clear...1. our agreement says we can call after 30 days...we wait 3 times that time frame and we don't call we send a form email following up...if they respond great...if not we still dont call....#2 again we are focusing our efforts of the direct sales team to lead purchases because our partner relationships are of the utmost importance to us. #3 We have changed policies over the last 6 months to help solidify and solve for this issue by cutting off our direct sales team from submitting duplicate leads that come from partners if the partner submits first. #4 Yes there are many advantages to working with Credibly, if a partner does not agree to the terms of the agreement we welcome red lines to the agreement and we have many partners that we will never even email a decline of theirs from 2 years ago because we discussed expectations before the partnership went live. I will say the same to you, please email me directly if you want to discuss further I am trying to 100% transparent.

Thank you

[WestCoastFunding]

You know what Credibly has not said? I haven’t heard them say “we will not contact a merchant that our ISOs funded elsewhere, and stack them”.

This still stands.

[MX211]

WEST COAST and all. First hand experience .

YES CREDIBLY has an inside sales team. They contacted a paying merchant of mine that was active in my book @ credibly and funded through and outside source. I found out looking at my portal the following day and saw the client who was on renewal 5 or 6, had been paid to zero. Once caught, Gary Bailey ran his mouth six ways to sunday, but every conversation eventually circled back to some sugar coated version of "our mistake", "go **** yourself". Offered up some nominal bs concessions which amounted somewhere between nothing and very little to just toss salt on the wound. Owner or one of (Ryan Rosset), was also involved in how things transpired after the fact on email chains And his answers were roughly the same.

Credibly, used to be a very credible funding source for years. Gary Bailey did his best to change all that with the inside sales force.

Id stay far away, as I have done since.

[Onepointwhat]

Unpopular opinion: Hats off to Credibly for walking into the lion's den to answer questions, even if the responses aren't ideal. It's a welcome change from the constant barrage of 'send me your deals, we can get that done.'