[CO1]

My brother is back to stocks, im still here!

[mbradford101]

My brother is back to stocks, im still here!

C01, what's your secret?

Can you share how you got started, how you market, and how you get 50-60 full packages, and end up funding 25-35 at the end?

If it's on other threads, I'll read them - just wondering if you can elaborate on what you do to make this happen

I've spoken with 5-6 lenders today so far (after submitting the ISO forms on their websites). So I'm getting setup with several and plan to go through the training materials on their sites. I asked one if he has many reps making 50-100K, and he said he had reps doing 500K per month making 7% ($35K per month gross). I assume at least 10K of that would go toward expenses and marketing. But that's still a lot more than I need to make. If I can even get to 5K per month net, I can pay the bills.

[Chambo]

C01, what's your secret?

Can you share how you got started, how you market, and how you get 50-60 full packages, and end up funding 25-35 at the end?

If you are submitting 50-60 deals and funding 35 of them, you are WAY ahead of the pack. Depending on the fund you use (they all have slightly different criteria), you can expect 10-25% approval rate...then 50% of those will fund

[funding pro]

Depending on the fund you use (they all have slightly different criteria), you can expect 10-25% approval rate...then 50% of those will fund

I have to say these numbers are going to vary more by your lead source(s) than they are of the funding companies you use. We have several lead sources that yield 80% approvals but only 30% closure rates while others are in the 50% approval range with 50-70% closure rates.

Based on my experience, 10-25% approval rates based on SUBMISSIONS is really low, i.e. UCC lists which we stopped using years ago. Now if you are getting approvals on 10-25% of your LEADS things are working for you.

[Quickfunder]

I have to say these numbers are going to vary more by your lead source(s) than they are of the funding companies you use. We have several lead sources that yield 80% approvals but only 30% closure rates while others are in the 50% approval range with 50-70% closure rates.

Based on my experience, 10-25% approval rates based on SUBMISSIONS is really low, i.e. UCC lists which we stopped using years ago. Now if you are getting approvals on 10-25% of your LEADS things are working for you.

What are you using aside from UCC's? I've been trying to research alternatives -- the saturated market is not killing me but I'm sick of having to haggle with merchants who are being outright lied to by all the other guys.

[Chambo]

What are you using aside from UCC's? I've been trying to research alternatives -- the saturated market is not killing me but I'm sick of having to haggle with merchants who are being outright lied to by all the other guys.

With every Tom, Dick and Harry becoming a funding company, and anyone and everyone can get into the funding business, this is what you are going to run into...