[Sean Cash]

We can all forget about this preposterous claim of 80% commission here. Zach needs to go back to the drawing board and learn the A-B-C's first.

I got it from the horses's mouth.

Million dollar deals pay 8 point to brokers, so Zach was off by a decimal point.

I think Zach probably just got confused in the heat of the moment since he's so used to having to defend himself lately. Great post by jotucker1983 by the way.

[WhoisKingsley]

I recently had the pleasure of visiting WBL's NYC office and visiting staff and checking out each department. I feel that WBL has gotten such a bad rep from miscommunication and prior bad apples or just the main focus on what and how they do things. They truly are doing something right and are off to a great start on becoming the largest ISO in the U.S. The now program they offer along with future products and processes of "how to" will make a huge credible impact.

What they offer as apart of WBL is unparalleled to any company in this industry. I think if more people took the time out to listen and understand like John did, there would be a different understanding of how great WBL really is in our space.

[Scott Williams]

8% commission on a 1.25 million dollar deal is a nice payday for an ISO. I am sure they were very happy when that funded. Plus, if the factor rate was 1.20% (stated by WBL) then 8% commission is very good.

[Zach]

My apologies for my incorrect info here -- I was under the impression the deal was sold around a 1.5 factor, which would obviously include far more interest earned for the branch.

[Chambo]

8% commission on a 1.25 million dollar deal is a nice payday for an ISO. I am sure they were very happy when that funded. Plus, if the factor rate was 1.20% (stated by WBL) then 8% commission is very good.

the BUY RATE was around there.....1.24 actually.

Now, some folks sell the deal at the buy rate and then just charge a Fee on top of that.

[omegafund]

8% commission on a 1.25 million dollar deal is a nice payday for an ISO. I am sure they were very happy when that funded. Plus, if the factor rate was 1.20% (stated by WBL) then 8% commission is very good.

8% commission not a surprise on 1M+ deals. But a big difference than 1M commission, but heck if WBL can pay 1M commission to a single branch over lifetime on a 1.25M deal than they certainly have some creative investment strategies we should learn.

I a sure WBL is a great fit for some and wish them well.

[lsteigman]

Thanks for the positive feedback. It was a pleasure to talk to John and visit with Amanda last week. There are a lot of great people in our business and our goal is meet all of them and see if there are enough synergies to partner together and if not then still try our best to fund as many of your deals as we can via our ISO channel. As John and Amanda have found out, we are very open and happy to answer any questions. Feel free to reach out to me.

Lenny
lsteigman@wbl.com
212-220-8964

[Jared_Weitz]

While we all know this calculation was wrong we can agree WBL offers a different product in the space that can prove useful sometimes. I said it once and I will say it again, for some ISO's it make sense to "fold-in". For others it DEF doesn't make any sense. I think part of the issues larger ISO's have is that they're being offered the same deal structure as other smaller less profitable ISO's who know the space far less. In those instances it makes WBL look predatory as they are trying to "steal" someone's business that they have built. Moreover, when people offer a secured product that cost the same if not more than an unsecured product that can make someone look predatory. I am very glad to hear the pricing has come down. If it's lower than unsecured rates it would pay to start doing some business there maybe.

[lsteigman]

Thanks Jared. Looking forward to doing some biz with you and your all star group!! You are correct in that the deal we offer for M & A is pretty much the same for all sizes but by definition that means the numbers are different. For instance ISO "A" gets X and ISO "B" that does 10x's as much business can get 10x. So the numbers are vastly different. The goal is simply to be fair and equitable to all of our present and future branches. Also, the support we offer to our branches is extensive from IT to training to finance, whether they are big or small, and has already led to 2-3 people offices becoming 15 people offices and growing their businesses, income, and equity in WBL. - Lenny

[bizloanbroker]

This may be the funniest thread ever on dailyfunder

I may have lost a few brain cells over the last 10 minutes reading it though

[c4get]

Brevity , not gravity ,

One is the significance the other is either Isaac Newtons thoughts or a Sandra Bullock movie

[Chambo]

How can someone make over a million dollars in commission on funding a $1.25 million dollar loan? Let's say the factor rate is very high, at 1.65, that's $812,500 in borrowing costs that the merchant pays. Where would the one million dollar commission even come from? Is there a contract that requires the merchant to do at least three renewals at 1.65 with the same approval amount or something? And the guy gets paid an advanced commission amount of those three deals?

Because WBL probably gave the merchant a two year 2.25 deal, that's why.....notice how there has been absolutely no mention of the factor rate

[ElitheMoneyGuy]

No shot will WBL pay 8 points on a 1.25MM with factor of 1.20. No chance. You'd be lucky to see a third of that if it was an ISO submission. Perhaps it was generated in-house, even if so - rep will make 17-20k tops from 250k of generated revenue.