[Lendvo]

https://www.youtube.com/watch?v=rY0WxgSXdEE


re: http://debanked.com/2017/09/bond-str...opped-lending/

[NickHubbard]

Maybe they should have started a broker program. They would of had more deals than they could handle!

[abfunders]

Maybe they should have started a broker program. They would of had more deals than they could handle!

They used to have one but stopped it.

[funding pro]

Got a call from them a few weeks ago that they were no longer funding "temporarily" but we all know how that goes.

[Nunya]

Bond Street's rates were too low, terms too long. That just means there's more opportunity for the rest of us to gobble up.

[mcaguru]

Its funny all these companies that are losing money and/or cease operations have been the ones that evrey fin-tech trade show had as guest speakers (sometimes even the main speakers) yet the few money makers seem to be out of the lime-light !!

[Nunya]

Its funny all these companies that are losing money and/or cease operations have been the ones that evrey fin-tech trade show had as guest speakers (sometimes even the main speakers) yet the few money makers seem to be out of the lime-light !!

Yep. Last year's keynote is this year's whipping boy.

[Jess]

Yep. Last year's keynote is this year's whipping boy.

LOL indeed. Lendit is such a smoke and mirrors show that American Greed should just film the London conference and they would have enough content for a year.

[WestCoastFunding]

The more interesting story is that Goldman Sachs poached 20 employees from Bond Street a few days ago, as it makes more moves into small business lending.

[WestCoastFunding]

They used to have one but stopped it.

They still used a handful of brokers that would commit to $1M+ a month in funding.

[Jess]

The more interesting story is that Goldman Sachs poached 20 employees from Bond Street a few days ago, as it makes more moves into small business lending.

Not really. Josh Koplewisx from Thayer Street invested in boys who didn't know lending, blew up Bond Street now they are at Goldman. Josh is an Goldman guy-Thayer only invests in guys.

[WestCoastFunding]

Not really. Josh Koplewisx from Thayer Street invested in boys who didn't know lending, blew up Bond Street now they are at Goldman. Josh is an Goldman guy-Thayer only invests in guys.

No, really, it is. Bond street going out-of-business has next to no effect on the industry. Goldman Sachs identifying smalll business lending as a way for themselves to make money is the bigger story, by far, as they can have an major impact on the industry should they decide to (with minimal effort).

[Karen37a]

Its funny all these companies that are losing money and/or cease operations have been the ones that evrey fin-tech trade show had as guest speakers (sometimes even the main speakers) yet the few money makers seem to be out of the lime-light !!

The money makers do not want to be in the spotlight so if **** hits the fan they are not right in the mix.

If money is involved in transactions you are always taking a huge risk....and like I said in the past its like the wolf of wall st telling the sec to f off or gotti smiling and posing for the paparazzi taking pictures.

( not that what we do is illegal, or immoral because it isn't )

I had people on the phone say to me " oh my God you are karen"...people are watching . People think I crave the attention...but if I did...i would have put my real name up when I first logged on or create a new account.

Some of you are mini celebrities...everyone knows you. Some brokers Idolize some as well.
I wont tell you what we nick named the "drop close on rate because you are scared" or who/what we named it after.

Some one called me someones name on here ...in an argument . As an example ...they said Ok Marcus ( and it wasnt marcus they were saying) and I was yelling ...do not EVER call me that, EVER.


And west coast. I have a stalker in real life who calls me every so often threatening me who says "west coast was right about you"...you saw them post once.

[Karen37a]

And there is usually no reason to get rid of outside broker channels( no matter how they try to spin it) ....Its a free form of deal flow

Only reason that usually happens is to secure the book of business and not pay out renewals..

Its a sign they are going under or selling

That is how I got forced into opening a small independent stock-brokerage firm with a few guys that worked with me, way back when( early 90s) .We went to west hempstead at first and pretended in our minds that we were in Garden City. ( we eventually moved to Garden City)

Some of those guys have 1-3 billion under management now.

[WestCoastFunding]

And there is usually no reason to get rid of outside broker channels( no matter how they try to spin it) ....Its a free form of deal flow.

I don't know about that. If you're going to have a broker/ISO program you're going to need to have to dedicate resources to manage the program -- which is definitely not free.

[Karen37a]

I don't know about that. If you're going to have a broker/ISO program you're going to need to have to dedicate resources to manage the program -- which is definitely not free.

Thats true ...I meant "free "( lower cost ) marketing" "free" ( lower cost )client acquisition.... its not free over all and it sometimes isnt worth the drama...it steals your soul and faith in human kind... ( time and sweat equity) isn't free either ; if we break it down to semantics

Promissory Estoppel

it will also make you ruthless when someone crosses you bad enough


****Some can also set up a commission based schedule where the account execs get a cut of the pie.

People wanted to send someone Mortgage deals ...I gave advice to a few

Hire your own Mortgage broker commission only...p/t cash advance...give him a desk ( rent free), if he doesn't produce lift him up and out of the seat( send him to the basement of his house or charge rent for the desk) get another one , get another, another one, get another one, untill you find one who actually produces... share deals back and forth.

When you get to 10,000...thats how many its going to take to get 300 licenced brokers/agents like I had, with the failure rates on the exams and quitting ratios.

[Finance1]

While acquiring a broker deal may be lower cost upfront, if you work with the average deal size of $30k and 8 points commission the cost of acquisition (or upfront payment) is $2,400. Yea, it gets muddy with rates and upsells etc but ISO model funders are paying plenty on each deal upfront and the person receiving the commission has zero skin in the game. As long as the deal survives 30 or 60 days, the commission is protected but the balance is always as risk until paid in full.

[mcaguru]

The day I'm listed as a keynote speaker you should stop working with me.... you will know the shows over....

I have yet to see a successful MCA shop be a keynote speaker at these conferences....!! (except this fourms owners shows ) ...

[Karen37a]

The day I'm listed as a keynote speaker you should stop working with me.... you will know the shows over....

I have yet to see a successful MCA shop be a keynote speaker at these conferences....!! (except this fourms owners shows ) ...

Its usually a political move or grab for credibility to secure funding in the present or future from investors.

Like those old ladies singing "look for the union label" before their union went under because of Chinese competition.

Sometimes I have to smile and clap after .

[mcaguru]

I love your quote! i know a brick layer that won the lotto!!

The harder you work, the luckier you get.

[Karen37a]

I love your quote! i know a brick layer that won the lotto!!

The harder you work, the luckier you get.

lol

( the more skillful you become, the luckier you get too)

Here ya go Marcus

https://www.youtube.com/watch?v=QO7VUklDlQw

[mcaguru]

they dont let me watch youtube here they only let us fund deals management is very one track minded! ...