"backdooring" - Brokers can you share how you Safeguard Your Deals on "Backdooring"

[Moneyforyourbusiness]

Good Morning Fellow Reps & Brokers!

Being a Merchant Cash Advance Broker is hard enough WITHOUT HAVING TO WORRY ABOUT YOUR DEAL BEING "BACKDOORED"!! This is NOT GOING AWAY!!!! I have been a Rep for over 10 years. EVERY REP, BROKER, ISO SHOP needs to secure their loans from being "backdoored" by unscrupulous reps & thieves! Any suggestion will more than likely help SOMEBODY - especially our Colleagues that are NEW to the Industry!

Laura

[fcfinancial]

Do not submit your applications with Lenders-Funders with internal salespeople. 2nd. Don't shotgun your applications to every so-called Broker platform. 3rd. Secure your relationships, maybe 1 to 4 (at the most) know who you are working with.

[Moneyforyourbusiness]

Thank you for your ADVICE!!! Being in the Industry for years, I was foolish enough to believe that with the Yellowstone indictment by the New York Attorney General, this would have gone away!!! -

I am now limiting my submissions to 5 and waiting for a response -

fyi -- these are Players that are so-called "reputable" - the problem is that Investors NEED TO VET THEIR ISO's MORE RIGOROUSLY!! - I need to, and every ISO needs to take YOUR ADVICE - DO YOUR HOMEWORK -no matter how seasoned you THINK YOU ARE!

STOP!!!!!!!! Shotgunning your APP to so-called brokers -- THIS IS where I got jammed!!! One great email blast - DOES NOT MAKE A REPUTABLE BROKER -especially if ON THE OTHER SIDE---- THE INVESTOR IS JUST WILLING TO FUND THE DEAL - REGARDLESS OF THE SHADINESS, and IT IS WORST WHEN THEY ARE FULLY AWARE AND STILL FUND THE DEAL - MORE TO COME!!!