Haha!!!! Sounds like one of those "Challaaaaaange!!!" sort of statements. Well, you're doing great.
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? Not trying to be anything but open (as we have made a ton of mistakes ourselves, that we do our best to learn from), and my point was referring to IOU's comments on the impact on their default rate via the rise of debt settlement companies, which in a consolidation product today, is a reasonably likely outcome (I assume they dropped that product too, as we did too once it became too unpredictable, even if it was profitable for us). The factors we still have to view as exogenous are the stacks on a-paper (previously unstacked) that lead to debt settlement companies (and therefore a all-or-nothing result). We are working hard on making those risks, that are currently exogenous in our view, risks identifiable; but we aren't there yet across the board: and that's why we won't win every 12 month 1.3x -- we will typically give that client either a decline (because of how our model works) or a much lower rate, longer-term product.
Yeah that's not the point I was making. You shouldn't want to win every single deal. Your box is your box and be relatively consistent. My point is that IOU's Balance Sheet and capital structure is a clusterf*ck of epic proportions. Interesting how the Direct Lending's returns are so consistent when IOU is taking huge hits....kinda like PAF and Argon.
And it's not the speed of approval people are looking for( one small factor) ...its the "certainty"
Knowing the algorithms in advance...stips and trying your best to send deals to the right people.While protecting the backend.
And certain companies that people quoted raised money thru private placements and their future is dependent on getting in more transaction in an uncertain tightened credit market....
( inability to raise capital key issues as always for some)
that and litigation risk etc etc etc
** Sometimes i can see in advance when someone is toppling; I hear the timmmberrrr call . I wish I had it in me like George Soros sometimes to pummel someone( short it ) to the ground ..I only get their when instigated. Guess thats why some are Billionaires
:)
Insanity is doing the same thing over again and expecting different results. You the individual have the tools at your fingertips, why not cultivate it to remain competitive.
Sometimes thinking outside the box will have your box filled with happy Iso's and a bigger portfolio of merchants!!!
Thinking outside the box to avoid "picking up the phone " to chat with a client or merchant is what people have been doing since the dawn of ages, so that isnt really "thinking outside the box"
Sales is not easy and the strongest salesperson usually gets the sale of they get ahold of it..
You can decide to build a warehouse and have numbers like a bakery ..and scream "next online" for all the people who are going to walk up to purchase...or have a line with a red rope, or have seating and serve coffee while they wait, with soft music on .
The problem is you have to get the people to the warehouse
( this is the 10-20th time I've given this analogy to the df and 1000000 in life, anyone who doesnt know this is going out of business once they run out of money)
** hope its not vitos money or someone who is going to charge you with something once you lose it
Getting people to the warehouse is getting all the documents in, stips and application.
Not saying " do you want a blueberry muffin or strawberry tart" once they are in the eating mood and in the bakery( warehouse).
Whos more important...the person behind the counter saying "which do you want? " or the person getting the person who is hungry for muffins or tarts to the bakery? Or who creates teams of salespeople bringing people to the bakery. ( Even if they have to cross a barren desert to get there)
( that has been the ongoing fight between the back-office and the sales force,again since the dawn of time...and why cocky brokers say "go back to being an accountant or secretary, or "go get your mba"..."go write a book") **** then they say ...you are jealous because you do not have a degree...then you say ..oh yes I so and a 160 iq to boot ...street smart/book smart...which is what it takes to be a killer closer...on and on for 100 years.
** the people who actually have the money are very important too, and live street smart book smart underwriters and inside iso reps
got to say just started working with main and damn they move fast, you def want them in your Rolodex QUOTE=paulypubco;80609]Come to Main Street for all positions. (Direct Lender)
We fund same day and do not white label.
In-house underwriting.
Contact me for an iso agreement and we will be the easiest funder to work with.[/QUOTE]
How about a list of funders who backdoor? and i dont mean you submitted a file got it approved and didn't fund it with that funder but rather a dif funder and a few weeks later after you get merchant requests more funds and send statements you see "what you know that >>>> funded it ". i'm not talking abou that because hey they underwrote it so fair game right ? i'm talking about straight out declined to funding it within hours or having another depteramnt call with dif offers etc etc . you guys need to really understand and believe the power is in you the ISO. most funders couldnt survive a month without ISO's
[/QUOTE]
Lately I have been receiving some incredible offers from Premier Capital Funding
They really blew away competitors offers I had from Everest, Knight, and SOS. Not only the buy rate was a lower rate but the term was stretched out further than all three offers. Strong with 2nd 3rd 4th positions, with an incredible consolidation program as well for merchants with multiple positions and are seriously overleveraged.
Be prepared with effective Funders that will in fact make a difference.
http://http://debanked.com/merchant-cash-advance-resource/merchant-cash-advance-directory/
I have to say Snap Advance is truly a player in this MCA industry we work to thrive in everyday.
18 months
250k
HEALTHCARE/Doctor Office
1.34 ten points built in for The ISO
I must also say merchant shopped around and recieved other offers from different ISO's
All Shut down and Snap takes it before month end.
http://debanked.com/merchant-cash-ad...nce-directory/
Power Funding offered an A Paper client last week a 1.41 on 250K. Can you clarify your statement there?
Power Funding offered an A Paper client last week a 1.41 on 250K. Can you clarify your statement there?
I mean we can be put on this list
General Merchant Funding
As Well as Uplyft Capital (Formerly Merchant Cash Cloud) - They are doing good things over there - if your not signed up you prob should. They actually think outside the box - a Merchant who literally should have been denied was approved based strictly on the Underwriter getting the feeling he was a good guy from the interview. Their Buy Rates and Programs are also extremely competitive (Massa I will be Invoicing you for this) - Lol.
There is still some good ones missing for sure. All of the Funders on the list have their niches and perks. Premier being one (especially competing offers when rate comes into play *Thank you Premier ;)) It all has to do with relationship too when it comes down to it. That's a big list.
When it comes to Trucking & Transportation I say always remember Quickbridge
Approved Amount: $55,200.00
Origination Fee: 2%
Pricing Options:
675+ Program
Duration
# of Daily
Payments Buy Rate
4 84 1.14
5 105 1.16
6 126 1.19
7 147 1.23
8 168 1.25
MAX UPSELL OF 17 POINTS