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

[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!!!

[Moneyforyourbusiness]

Texas is rough - spent 2 weeks on a texas cash-out - out of state lender that went NOWHERE - fyi - many Texans are exhausted by the strict refi laws - I learned that home in Texas - find a mortgage or commercial lender in Texas

[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...

[Moneyforyourbusiness]

I advised Spartan Capital that my deal was back-doored by a broker - My merchant HAD NEVER applied with Spartan directly (worked with this client for years) - I told client the deal was back-doored when they called me and asked WHO IS SPARTAN -- Merchant advised they thought it was my referral. I advised the merchant that I never experienced this type of behavior from Spartan. I advised the merchant good luck - they tried to cancel the the contract - unsuccessful - Spartan Funded the deal anyhow after knowing it was a "shady" referral. What was supposed to be a weekly payment for $700 and Merchant called Livid this morning some advance company called "Nova" came in this morning and debited $1,000 - I advised the merchant this whole scenario sounded "shady" with Spartan in the middle. Merchant can't get Spartan on the phone - I advised if a reputable broker had managed your submission and approval - you would NOT HAVE CONTRACTS FOR A WEEKLY payment and then...

[Moneyforyourbusiness]

Good Afternoon,

any investors using personal checking accounts for business account - thank you in advance for the referrals - if not no need to respond...