Results 1 to 14 of 14
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10-02-2017, 09:44 PM #1
- Join Date
- Sep 2017
- Posts
- 2
Looking for the right partnerh
I've been in finance for nearly twenty years. Having been laid off from my broker I"m looking at something more independent. ISO for small business loans on cash flow.
Currently, I'm signed up with a couple of providers. They pay 4-5% of loan amount. I'm doing all the work. I generate the leads. Do the cold calling. Chase the paperwork and submit the file. Then I'm delivering the contract, getting the sig's.
Who are the best / most honest company's to work for with the best payouts.
Thank you,
Yeoman.
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10-02-2017, 10:15 PM #2
- Join Date
- Jul 2015
- Posts
- 1,202
Define "Providers". Do they sell loans through you?
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10-03-2017, 10:13 AM #3
- Join Date
- Jun 2017
- Posts
- 12
There's SO much to unpack here. But I will start with: 20 years?????
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10-03-2017, 02:43 PM #4
- Join Date
- Jun 2017
- Posts
- 2,049
You can sign up with us - we will Place your files that you can't. We Fund In House, Syndicate and Broker Out. And are very transparent on what your Paid on all scenarios.
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10-03-2017, 03:01 PM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
Hi Yeoman,
We offer flexible working capital solutions in the forms of factoring and asset based lines of credit. Because we are bank owned, our cost of capital is significantly lower than most finance companies(which means we typically win the deal and the client is sticky). We can and will finance challenged companies. Our ideal client:
-Based anywhere in the US selling to mostly US based commercial customers.
-TIB-can be less than 6 months
-Revenues-$2Mil to well over $150Mil
-Facility need-$250K to well over $15Mil-we like size!
-Ability to finance receivables and will include inventory and M&E as an accomodation
-Industries-Generalists, but avoid construction and healthcare services.
We move fast, but listen first. We do pay referral fees: Up to 15% of net spread over the life of the client.
Happy to share some info....
Kevin.Henry@SeacoastBF.com 561-623-1872 is my directKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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10-03-2017, 09:19 PM #6Karen37aGuest
Who pays for the leads?
Pays for the CRM system?Phones? etc etc etc
Factor more things into the cost... Are you placing the deals?...that takes time.
Who takes the default risk? paid for the LLC, etc etc etc
If you were doing "everything" for 20 years you wouldn't be asking the question.
You wouldn't be "laid off" if you could sell... closers can close 200-500k in one month. The person who laid you off would just sit there and just place deals for you ... feed you grapes and fan you.( or fire you because you disrupt their flow and respect)
some of you can fool some( the ones who get fooled I know are not top producers) ...I've heard the bs , know the results for 30 years
Watching people fish for pikers then portraying themselves to be the big cheese isn't very attractive eitherLast edited by Karen37a; 10-03-2017 at 09:37 PM.
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11-05-2017, 01:35 PM #7
- Join Date
- May 2017
- Posts
- 350
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11-05-2017, 01:50 PM #8
- Join Date
- Feb 2017
- Posts
- 3,433
50% for just a placement is a rip-off, I agree. MOST of the work is the relationship and the app!
On the other hand, if the other broker can do something you can't (they teach you how to manage this type of loan), then 50% is fair. I would never take less than 40-50% on a real estate deal - most of the work is AFTER they've accepted the loan T&C, whereas in MCA most of the work is getting the docs prior to T&C.
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11-06-2017, 10:27 AM #9
- Join Date
- Jun 2017
- Posts
- 2,049
We do 60/40 if all your doing is giving us a Submission. We will gather stips/sell then pay you.
If you do the gathering of stips and selling we will do 80/20.
80% Of our Business comes from ISO's. We get deals done. If you can generate Submission s we can get you offers and close them (If needed).
We work with well established shops that just cant find homes for their files. I personally prefer the smaller guys like you... I think we would be a good fit.Last edited by ryan $; 11-06-2017 at 10:31 AM.
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11-06-2017, 10:46 AM #10
- Join Date
- Oct 2014
- Posts
- 60
As the largest second position funding source in the country we would love to sign you up and start funding your deals, feel free to reach out so we can get the ball rolling
Daniel Lenefsky
Senior Finance Executive/VP ISO relations
P:646-774-3301
F: 646-398-5656
daniel@yellowstonecapllc.com
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02-11-2018, 01:26 PM #11
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02-11-2018, 06:12 PM #12
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
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02-11-2018, 07:21 PM #13
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03-24-2018, 03:15 AM #14
- Join Date
- Feb 2018
- Location
- San Diego, CA
- Posts
- 103
We come from similar backgrounds, Morgan and Merrill. We've been at it for a year now and growing and struggling. We just partnered with a local bank to do all kinds of deals outside the MCA scope and are looking for solid partners. We're in Southern California where the weather is perfect and the grass is always green.
Give me or Alex a call if you want to talk.
Best,
Juan Pasalagua
Managing Director
Alternative
www.alternacashadvance.com
1050 G St San Diego, CA 92101
(855) 262-2996
(619) 203-8346