Need a Funder or Vendor? START HERE

Results 1 to 14 of 14
  1. #1

    Looking for the right partnerh

    I've been in finance for nearly twenty years. Having been laid off from my broker I"m looking at something more independent. ISO for small business loans on cash flow.

    Currently, I'm signed up with a couple of providers. They pay 4-5% of loan amount. I'm doing all the work. I generate the leads. Do the cold calling. Chase the paperwork and submit the file. Then I'm delivering the contract, getting the sig's.

    Who are the best / most honest company's to work for with the best payouts.

    Thank you,
    Yeoman.

  2. #2
    Senior Member Reputation points: 158630
    Join Date
    Jul 2015
    Posts
    1,202

    Define "Providers". Do they sell loans through you?

  3. #3
    Banned Reputation points: 554
    Join Date
    Jun 2017
    Posts
    12

    There's SO much to unpack here. But I will start with: 20 years?????

  4. #4
    Banned Reputation points: 179851
    Join Date
    Jun 2017
    Posts
    2,051

    You can sign up with us - we will Place your files that you can't. We Fund In House, Syndicate and Broker Out. And are very transparent on what your Paid on all scenarios.

  5. #5
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Quote Originally Posted by Yeoman View Post
    I've been in finance for nearly twenty years. Having been laid off from my broker I"m looking at something more independent. ISO for small business loans on cash flow.

    Currently, I'm signed up with a couple of providers. They pay 4-5% of loan amount. I'm doing all the work. I generate the leads. Do the cold calling. Chase the paperwork and submit the file. Then I'm delivering the contract, getting the sig's.

    Who are the best / most honest company's to work for with the best payouts.

    Thank you,
    Yeoman.
    Hi Yeoman,

    We offer flexible working capital solutions in the forms of factoring and asset based lines of credit. Because we are bank owned, our cost of capital is significantly lower than most finance companies(which means we typically win the deal and the client is sticky). We can and will finance challenged companies. Our ideal client:
    -Based anywhere in the US selling to mostly US based commercial customers.
    -TIB-can be less than 6 months
    -Revenues-$2Mil to well over $150Mil
    -Facility need-$250K to well over $15Mil-we like size!
    -Ability to finance receivables and will include inventory and M&E as an accomodation
    -Industries-Generalists, but avoid construction and healthcare services.

    We move fast, but listen first. We do pay referral fees: Up to 15% of net spread over the life of the client.

    Happy to share some info....

    Kevin.Henry@SeacoastBF.com 561-623-1872 is my direct
    Hedley Lamarr......That's Hedley

  6. #6
    Karen37a
    Guest
    Quote Originally Posted by Yeoman View Post
    I've been in finance for nearly twenty years. Having been laid off from my broker I"m looking at something more independent. ISO for small business loans on cash flow.

    Currently, I'm signed up with a couple of providers. They pay 4-5% of loan amount. I'm doing all the work. I generate the leads. Do the cold calling. Chase the paperwork and submit the file. Then I'm delivering the contract, getting the sig's.

    Who are the best / most honest company's to work for with the best payouts?

    Thank you,
    Yeoman.


    Who pays for the leads?

    Pays for the CRM system?Phones? etc etc etc

    Factor more things into the cost... Are you placing the deals?...that takes time.

    Who takes the default risk? paid for the LLC, etc etc etc

    If you were doing "everything" for 20 years you wouldn't be asking the question.

    You wouldn't be "laid off" if you could sell... closers can close 200-500k in one month. The person who laid you off would just sit there and just place deals for you ... feed you grapes and fan you.( or fire you because you disrupt their flow and respect)

    some of you can fool some( the ones who get fooled I know are not top producers) ...I've heard the bs , know the results for 30 years


    Watching people fish for pikers then portraying themselves to be the big cheese isn't very attractive either
    Last edited by Karen37a; 10-03-2017 at 09:37 PM.

  7. #7
    Senior Member Reputation points: 11170
    Join Date
    May 2017
    Posts
    350

    How much do you pay isos that send you deals only for you to place them? (I am curious because most of you guys ask for 50% on here which is so darn hilarious! Glad I never closed a deal with anyone on here!).



    Quote Originally Posted by ryan $ View Post
    You can sign up with us - we will Place your files that you can't. We Fund In House, Syndicate and Broker Out. And are very transparent on what your Paid on all scenarios.

  8. #8
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by johndough17 View Post
    How much do you pay isos that send you deals only for you to place them? (I am curious because most of you guys ask for 50% on here which is so darn hilarious! Glad I never closed a deal with anyone on here!).
    50% for just a placement is a rip-off, I agree. MOST of the work is the relationship and the app!

    On the other hand, if the other broker can do something you can't (they teach you how to manage this type of loan), then 50% is fair. I would never take less than 40-50% on a real estate deal - most of the work is AFTER they've accepted the loan T&C, whereas in MCA most of the work is getting the docs prior to T&C.

  9. #9
    Banned Reputation points: 179851
    Join Date
    Jun 2017
    Posts
    2,051

    Quote Originally Posted by abfunders View Post
    50% for just a placement is a rip-off, I agree. MOST of the work is the relationship and the app!

    On the other hand, if the other broker can do something you can't (they teach you how to manage this type of loan), then 50% is fair. I would never take less than 40-50% on a real estate deal - most of the work is AFTER they've accepted the loan T&C, whereas in MCA most of the work is getting the docs prior to T&C.
    We do 60/40 if all your doing is giving us a Submission. We will gather stips/sell then pay you.

    If you do the gathering of stips and selling we will do 80/20.

    80% Of our Business comes from ISO's. We get deals done. If you can generate Submission s we can get you offers and close them (If needed).

    We work with well established shops that just cant find homes for their files. I personally prefer the smaller guys like you... I think we would be a good fit.
    Last edited by ryan $; 11-06-2017 at 10:31 AM.

  10. #10
    As the largest second position funding source in the country we would love to sign you up and start funding your deals, feel free to reach out so we can get the ball rolling

    Daniel Lenefsky
    Senior Finance Executive/VP ISO relations
    P:646-774-3301
    F: 646-398-5656
    daniel@yellowstonecapllc.com

  11. #11
    Senior Member Reputation points: 570 dworange's Avatar
    Join Date
    Jun 2016
    Posts
    132

    Quote Originally Posted by Yeoman View Post
    I've been in finance for nearly twenty years. Having been laid off from my broker I"m looking at something more independent. ISO for small business loans on cash flow.

    Currently, I'm signed up with a couple of providers. They pay 4-5% of loan amount. I'm doing all the work. I generate the leads. Do the cold calling. Chase the paperwork and submit the file. Then I'm delivering the contract, getting the sig's.

    Who are the best / most honest company's to work for with the best payouts.

    Thank you,
    Yeoman.
    Inbox me your number lets talk

  12. #12
    Senior Member Reputation points: 15507
    Join Date
    Dec 2016
    Location
    Brooklyn N.Y.
    Posts
    428

    Quote Originally Posted by dworange View Post
    Inbox me your number lets talk
    edit
    Last edited by MidnightAdvance; 03-19-2018 at 07:56 PM.
    High risk paper

  13. #13
    Senior Member Reputation points: 570 dworange's Avatar
    Join Date
    Jun 2016
    Posts
    132

    So why dont we team up

  14. #14
    Banned Reputation points: 1609
    Join Date
    Feb 2018
    Location
    San Diego, CA
    Posts
    103

    We come from similar backgrounds, Morgan and Merrill. We've been at it for a year now and growing and struggling. We just partnered with a local bank to do all kinds of deals outside the MCA scope and are looking for solid partners. We're in Southern California where the weather is perfect and the grass is always green.
    Give me or Alex a call if you want to talk.

    Best,

    Juan Pasalagua
    Managing Director
    Alternative
    www.alternacashadvance.com
    1050 G St San Diego, CA 92101
    (855) 262-2996
    (619) 203-8346



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY