Decline for shopping

[Michael I]

I just got a solid approval from a lender (merchant has 740 credit and 6 years in biz) 2 hours later i get a decline because they received the file from 2 other shops that day after me. End of the day i lost the merchant to amex but curious why a solid file that decided to shop automatically gets him declined.

[mcaguru]

Cresthill / Mantis would never decline for that !

[Michael I]

Cresthill / Mantis would never decline for that !

yes that is true. You also do not give the bogus decline of pulls and no funding seen in bank that so many of your competitors decline for.

[NoBigDeal]

I just got a solid approval from a lender (merchant has 740 credit and 6 years in biz) 2 hours later i get a decline because they received the file from 2 other shops that day after me. End of the day i lost the merchant to amex but curious why a solid file that decided to shop automatically gets him declined.

Stacking is becoming so rampant, top lenders wouldn't even want to consider a merchant who has a brain on their head and decides to shop. I don't agree with it, but I could understand where they're coming from
To be fair, they're charging really prime numbers, so the risk gets significantly higher and could not be worth the reward

[abfunders]

Michael, send clients like this to a real bank and get paid for it.
Shoot me an email, I'll get you the ISO agreement you need.

[Michael I]

his bank loan is at 3.8% how can i make money and beat that ?

[abfunders]

You can get him 0 APR lines of credit, and other larger ones for 6-13%.
You don't do it, but you get another company to do it for you, you just need to collect his credit history.
Lines of credit are better than term loans since you don't pay when you don't use it, hence the higher interest.
People don't know how to get them. That's where you make your money.

Contact me, you'll make it happen. Seriously. I'm not the direct funder, and you'll never get backdoored, I can promise you that.