Califonia Lending License - Need help receiving a commission
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  1. #1
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    Califonia Lending License - Need help receiving a commission

    Can anyone recommend someone reputable that can I can have a commission sent to and then send me the balance for a reasonable fee?

  2. #2
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    del
    Last edited by abfunders; 05-03-2018 at 02:04 PM.

  3. #3
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    Tried him already looking to see if I can do better on the fee, thanks.

  4. #4
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    and the clawback? the ISO agreement is between you and the funder. I would be surprised if a funder achs commissions to a non partner for a deal you brought to them. they also need to 1099 you not the intermediary end of year.

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    Quote Originally Posted by fundingsmbs View Post
    and the clawback? the ISO agreement is between you and the funder. I would be surprised if a funder achs commissions to a non partner for a deal you brought to them. they also need to 1099 you not the intermediary end of year.
    this funder is one of the top in the business that 100% of people are signed up with. I am willing to wait for the clawback period to end 30 days whatever, not in a rush.

  6. #6
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    what companies do not let you fund in California? they funded the deal and now are telling you they wont pay you because you don't have a license? If that's the case, they should not have accepted or funded the deal. almost all A funders can do CA whether its a business loan with a chartered bank or structured as an MCA, which, is not a loan. very few block you from soliciting CA.

  7. #7
    We at First American Merchant hold a CFL. We can assist in placement and funding on any California based merchants. Please feel free to contact Michael Hollis @ 310-402-5598 for more details.

  8. #8
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    Quote Originally Posted by ABC2016 View Post
    Can anyone recommend someone reputable that can I can have a commission sent to and then send me the balance for a reasonable fee?
    Nice of them to tell your after its funded, they holding commission.....

  9. #9
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    Quote Originally Posted by fundingsmbs View Post
    and the clawback? the ISO agreement is between you and the funder. I would be surprised if a funder achs commissions to a non partner for a deal you brought to them. they also need to 1099 you not the intermediary end of year.
    You don't need a 1099 if you're an an S- or C-corp or an LLC being taxed as a S or C corp. That's why all of the funders need to see the W9.

    But yeah, clawback is an issue among co-brokered deals.

  10. #10
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    Quote Originally Posted by abfunders View Post
    You don't need a 1099 if you're an an S- or C-corp or an LLC being taxed as a S or C corp. That's why all of the funders need to see the W9.

    But yeah, clawback is an issue among co-brokered deals.
    yeah especially when you get new brokers saying they have a new bank account they just opened. red flag for I took the money out because I am being clawed back and want to open a new bank to evade paying it back. co brokering is a tough gig. some funders have 3 month clawbacks making it even worse to co broker. direct baby! all direct!

  11. #11
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    Quote Originally Posted by fundingsmbs View Post
    what companies do not let you fund in California? they funded the deal and now are telling you they wont pay you because you don't have a license? If that's the case, they should not have accepted or funded the deal. almost all A funders can do CA whether its a business loan with a chartered bank or structured as an MCA, which, is not a loan. very few block you from soliciting CA.
    I knew before funding I would have to figure this out if the deal went through. I wasn’t worried about this as I knew a simple post on this site would yield me many options which it has. This is not an issue at all and I am not worried about waiting as I know my money is secure.

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