Trying to go out on my own as a new ISO

For a couple of a months now I’ve noticed the quality of leads I am receiving are 1) Have a MCA default history, 2) industry is in trucking or construction and are now seeking a 3rd or greater position, 3) files are too small Aka in need of micro funding. I also need help trying to find better quality leads (I understand this is the secret sauce) however, I also focus on SBA, Term loans, or equipment financing if it makes sense. I am also finding it hard to obtain proper files for this because the macroeconomic environment has been so rough and we might’ve started working towards one of those products and the merchant will not say to me that they need another MCA in the mean time. Also being on my own I’ve noticed that these large “A” paper lenders don’t want anything to do with a startup ISO. Any advice (I know I just through A LOT out there)?!

Plenty of lenders will work with start up ISO's. Use a super broker like FundShop for access to the "large" A paper lenders. But for SBA and equipment financing, you need someone experienced to help you as you aren't qualified to handle those by yourself. Reach out if you need help.

I actually have the SBA, Equipment, and Term loan lenders onboarded. It seems like the "A" paper MCA lenders are the tough ones. I also need help with international Factoring lenders. Lastly, any advice on where I can find qualified dedicated leads?

International Factoring Association's website for factoring companies. Post up looking for A paper MCA's and I'm sure some will respond. Same with lead company recommendations...plenty of people here can speak up on that issue as well.

You have to generate your own leads to get away from the garbage they try to sellbus these days

https://www.funderintel.com/community

Provider search in here...

@joshbr9 I don't see how you make such an ignorant blanketed claim without having any knowledge of me. I come to the forum to exchange ideas or look for help. You have seem to provide none of the above. I would appreciate it in the future if you kept your opinions on my company and what lenders I have to yourselff.

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Originally Posted by Ehenek

@joshbr9 I don't see how you make such an ignorant blanketed claim without having any knowledge of me. I come to the forum to exchange ideas or look for help. You have seem to provide none of the above. I would appreciate it in the future if you kept your opinions on my company and what lenders I have to yourselff.

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dude! take a chill ,re read what you wrote and what he wrote. He is helping you not attacking you

My advice to you is to quit or start backdooring files (by claiming your a true true true direct funder when in reality your not)..

My apologies. Rough day.

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Originally Posted by Ehenek

I actually have the SBA, Equipment, and Term loan lenders onboarded. It seems like the "A" paper MCA lenders are the tough ones. I also need help with international Factoring lenders. Lastly, any advice on where I can find qualified dedicated leads?

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Co-broker some deals and try to have someone make an introduction for you, or you can reach out directly and let these A paper guys know that you have consistent and renewable source of quality deals, (but unfortunately, that's your current problem).

You're seeing those results with your leads because you're getting the leftovers. You need an earlier look at your leads, before they've been descended on by 10-20 other brokers.

You need to learn to convert cold merchants into prospects, you need to test more lead providers to find one that matches your sales style and/or business process, or you need to develop some relationships with middlemen like accountants or lawyers, that can give you referrals.


It'll take time, or it will take a lot of money, or it will be somewhere in between. Keep in mind that while some people will give advice, you're basically asking competitors to help you increase your profits, which may simultaneously reduce theirs. So don't be surprised if everyone isn't jumping out the window to help you.







www.UccRadar.com - Large volume merchants

I just started a ISO a month ago and haven't had many issues other than trying to decide what funding source is best for my clients. You can get to direct lenders if you have legit "A" paper that is requesting 7 figure MCA's ( I also own a healthcare consulting company with a ton of clients that fit the profile those types of lenders are looking for). When it comes to leads I prefer to generate my own, I don't trust lead gen companies. It's a little easier for me because I also own a digital marketing company but if you have the time and your willing to learn you can create a content marketing strategy that will produce in bound leads in 3-6 months. In the mean time utilize your personal network. If you don't have a personal network to draw from you might want to rethink your strategy. I've consulted on some ISO startups and many of them fail because they don't have a niche or any competitive advantage over the next ISO. I have found ISO's are a dime a dozen - if you can't create real value for your clients what's to stop them from going to the next guy? Good luck brother!

Your Network = Your Net Worth

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Originally Posted by Ehenek

For a couple of a months now I’ve noticed the quality of leads I am receiving are 1) Have a MCA default history, 2) industry is in trucking or construction and are now seeking a 3rd or greater position, 3) files are too small Aka in need of micro funding. I also need help trying to find better quality leads (I understand this is the secret sauce) however, I also focus on SBA, Term loans, or equipment financing if it makes sense. I am also finding it hard to obtain proper files for this because the macroeconomic environment has been so rough and we might’ve started working towards one of those products and the merchant will not say to me that they need another MCA in the mean time. Also being on my own I’ve noticed that these large “A” paper lenders don’t want anything to do with a startup ISO. Any advice (I know I just through A LOT out there)?!

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You must be buying leads(data) from the standard ones that sell on here . what these guys do is sell them live than a week later a month later 6 months etc.. the cheaper the leads you are buying from them the more you will be getting what you have been . The way to get higher quality leads is to bring them in yourself through your own marketing

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Originally Posted by Michael I

You must be buying leads(data) from the standard ones that sell on here . what these guys do is sell them live than a week later a month later 6 months etc.. the cheaper the leads you are buying from them the more you will be getting what you have been . The way to get higher quality leads is to bring them in yourself through your own marketing

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easier said than done :)

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Originally Posted by Michael I

You must be buying leads(data) from the standard ones that sell on here . what these guys do is sell them live than a week later a month later 6 months etc.. the cheaper the leads you are buying from them the more you will be getting what you have been . The way to get higher quality leads is to bring them in yourself through your own marketing

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It is better, but it takes an upfront investment, and a little time to build the pipeline. Plus agents that understand what the plan is. But after that, you're basically working out of your own internal growing database that almost no one has access to.

That's how companies like Paypal, Square and Amazon were able to reach 8-10 figure funding amounts relatively quickly, they had their own internal database.







www.UccRadar.com - Large volume merchants signing up on Your Website

If your looking for leads give us a shot! Your funding amount and deals closed always come down to how good your data is.

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Originally Posted by jdchiles

I just started a ISO a month ago and haven't had many issues other than trying to decide what funding source is best for my clients. You can get to direct lenders if you have legit "A" paper that is requesting 7 figure MCA's ( I also own a healthcare consulting company with a ton of clients that fit the profile those types of lenders are looking for). When it comes to leads I prefer to generate my own, I don't trust lead gen companies. It's a little easier for me because I also own a digital marketing company but if you have the time and your willing to learn you can create a content marketing strategy that will produce in bound leads in 3-6 months. In the mean time utilize your personal network. If you don't have a personal network to draw from you might want to rethink your strategy. I've consulted on some ISO startups and many of them fail because they don't have a niche or any competitive advantage over the next ISO. I have found ISO's are a dime a dozen - if you can't create real value for your clients what's to stop them from going to the next guy? Good luck brother!

Your Network = Your Net Worth

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I think more accurate is: Your Value to your Network = Your Networth


But otherwise, good advice. Might not be what he wants though, most aren't going to invest the 3-6 months of no money, plus paying out funds, to attempt to build something they may not see all the way through.







www.UccRadar.com - Large Merchants filling out Your Online App!