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08-23-2017, 06:42 PM #1
- Join Date
- Mar 2016
- Posts
- 657
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08-23-2017, 07:27 PM #2
- Join Date
- Jul 2015
- Posts
- 1,202
Love them. Tier 1 industry here. Why?
Renewals!: Since they change names, "close" doors, spend very little on marketing and training ISOs, they hold the golden egg. We start them at a 1.05 weekly 18 months.
Key metric: Delivered ISO agreement ratio. Since 90% of ISOs don't get a signed agreement back from the funder with a binding signature it's game on! If an ISO has a dispute or we close down? - BOOM no contract. If the funded funder needs a contract to pursue their interests in a matter? They can sign at the time of need at their leisure.
We prefer the highest risk funders over the prime paper guys. (the other guys tend to have computer systems, fax machines, docusign, spell-check, and tight underwriting.) A paper is a drag.
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08-23-2017, 08:21 PM #3
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
I heard about your "Double Net Program" where you fund "double" of what the Merchant actually nets, is that program still available?
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08-23-2017, 09:26 PM #4
- Join Date
- Jul 2015
- Posts
- 1,202
Yes, usually reserved for brokers that skipped out for a cigarette or a drink during their 5 minute initiation training by their manager at their shop. Commonly known as the "Double-Dip" or "Re-up". Favored by the lazy who won't and can't address the APR & Total Cost of Capital question. We recommend this advanced "closer" sales pitch: "Do you want more money or not?" (Most frequent source for our Default Defense Department)
Don't hang up the phone until they say yes!!