[Zach]

Is anyone familiar with their programs? I understand they are owned by a large leasing company, Pawnee. I'd like to get an idea of their rates/commissions/etc.

[Jared_Weitz]

I've spoken with them and the rates seemed within range of the market. I'm always skeptical of placing a lot of business with someone where you can't see what's going on. Guys like MCC and ODC have great systems and it makes an ISO comfy. That coupled with great operations and rates.

[Zach]

It sounds like their target market is equipment financing ISO's who don't understand our space. That is good for them, because they will most likely be able to pay less commissions and equipment financing ISO's wouldn't be familiar with what we are used to getting paid.

[tyrgarrett]

Just noticed this thread and although old I thought I would share. Windset pays up to 17 points on origination's and 17 points on the gross funded amount of renewals. Yup that's right 17 points on the new money and the payoff.

[Zach]

Yes, I am familiar with their programs now.. They are solid. But 5 months ago I had no idea what they offered.

I wish they did over 75k!

[MTY MSI]

If Windset's MCA programs are anything like Pawnee Leasing it's going to involve monthly or quarterly minimums and they're going to expect you the ISO to do preliminary underwriting before submitting a file so that you know the file meets their minimum underwriting requirements before you submit it.

[Andy]

If Windset's MCA programs are anything like Pawnee Leasing it's going to involve monthly or quarterly minimums and they're going to expect you the ISO to do preliminary underwriting before submitting a file so that you know the file meets their minimum underwriting requirements before you submit it.

You should do preliminary underwriting on all files before you submit to any lender, why waste their time or yours? Why would you ever send a file to a funder that doesn't meet their UW minimums?

Windsets programs are fairly standard with the rest of the industry, similar commissions and the more you fund with them, the higher commissions. In my mind the biggest plus of using them is that they give the merchant reduced paybacks if they pay it back earlier than expected, theres only a few other companies doing that and windset has better comm than them

That being said I have not done any business with them, so no idea how good or bad their funding process is.

[J.Celifarco]

I would think it is common practice to pre-underwrite any file you get in... With most ISO's having few lenders that they work with how do you know where to send the file without doing a pre-underwriting. We all know every bank has its box and what it is good at, without reviewing the file you would have to submit every deal you get in to every bank you work with. In the end that will upset your merchant because they have 5 or 6 credit pulls and upset the banks because you are wasting their time on files they cant or wont fund. A little extra work when you get in the file will speed up the rest of the funding process a lot

[Paul]

Hi Zach,

When you have some time, I would love an opportunity to discuss our products with you. Our target market is the ISO/Broker Community, the Leasing Brokers not doing WC do not work with us. I would be happy to explain how it all works. In addition to paying up to 17 points on new loans and on the gross for renewals, we also do not have a direct side calling on your merchants ever. All of our originations come from our ISO/Broker Partners.

Please contact me at you convenience. I look forward to speaking with you.

855-761-8299 ext 280. Paul Phillips

[Chambo]

Hi Zach,

When you have some time, I would love an opportunity to discuss our products with you. Our target market is the ISO/Broker Community, the Leasing Brokers not doing WC do not work with us. I would be happy to explain how it all works. In addition to paying up to 17 points on new loans and on the gross for renewals, we also do not have a direct side calling on your merchants ever. All of our originations come from our ISO/Broker Partners.

Please contact me at you convenience. I look forward to speaking with you.

855-761-8299 ext 280. Paul Phillips

when you say "17 on the gross for renewals"....you only pay commissions on what the merchant nets in the refi?

[Eric S]

They're okay but they limit approvals a lot. New Logic requirements, rates and commissions. Their approvals are a bit odd, they give a max and it seems to be the same max on each term option. If you need a NL 6 month deal but slightly larger WS is a good choice but if you need a 10% from gross type deal, they won't be a good fit.

[Paul]

That is incorrect. We pay up to 17 points on the total funded amount.