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10-18-2017, 12:36 AM #1
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how do i calculate commission
and is there a good link i could use to find different merchant cash advance equations like such as figuring out factor rate, amount of payments on the deal, etc... sorry for the rookie questions my first week back in the industry thanks any help would be appreciated
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10-18-2017, 01:14 AM #2
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10-18-2017, 06:45 AM #3
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Payback amount / advance amount = factor rate
Payback amount / daily debit = number of payments
Number of payments / 21 = length of term in months
Commission earned = advance amount x (points on deal / 100)
Welcome back!Last edited by MCNetwork; 10-18-2017 at 06:50 AM.
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10-18-2017, 07:44 AM #4
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10-18-2017, 07:45 AM #5
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10-18-2017, 08:26 AM #6
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10-18-2017, 09:01 AM #7
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10-18-2017, 09:53 AM #8
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if you cant understand that you are much better off going to work for someone. Not trying to be rude but that is as simple as any of us can break it down for you
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10-18-2017, 02:34 PM #9
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JABCC later today on the phone:
"Hi, this is Steve at JABCC. That's Jupiter Associates Business Capital Credit. I have some GREAT deals I want to send to you. I see that you lend these things called merchant cash advances and I want to expand the network I have. Right now I've got ISO agreements from Yellowstone, Entrust and Green Capital Credit that I'm mulling over and thought I'd reach out to you. You see, I'm a commercial finance advisor that links companies looking for money with lenders looking to lend. I took a step away from this for the past couple of years while I worked as asst Gen Manager at Key foods where I was responsible for handling (this goes on for 20 mins) .... so to the first deal I have -- it's a GREAT DEAL!! I have an oil and gas company in Oklahoma looking for a $24,000,000 merchant cash advance. Let me tell you about the company: they have oil rights to a piece of land located 15 minutes out of Mustang, OK, and they are set to make a killing because they think there's at least 15 billion barrels of light sweet crude under the ground (this goes on for 20 mins).... what do you need to lend to them? I'll send over their app and bank statements. ...
As for the other deal, I have a gas station financing deal. It's a startup and the borrower wants to open a gas station 20 miles outside of Barstow California. I have 2 months personal bank statements of the borrower and 1 month of their American Express bill. This is such a good deal because it's not really a startup because they incorporated 2 months ago (goes on for 20 mins)...
Last question: how much is your commission? Do you pay commissions the same day as funding or day before. A couple more questions (goes on for 30 minutes)."
That about sums up 90% of new brokers.
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10-18-2017, 02:44 PM #10
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Okay okay...here's the REAL commission formula. I dumbed it down a bit for you newbies:
5850936_f520.jpgLast edited by MCNetwork; 10-18-2017 at 02:46 PM.
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