Need a Funder or Vendor? START HERE

Results 1 to 2 of 2
  1. #1

    Time For an Honest Talk About MCA? Greenstone Capital - A Small Honest ISO

    Good Afternoon,

    I wanted to make a brief post about MCA, its status, and some of its challenges from an ISO's perspective. I am writing this post as of February, 23rd, 2018. I wanted to get some opinions from Lenders and ISO's about their recent experience in MCA and especially "high risk" MCA files (3rd, 4th, 5th Positions). I wanted to ask the lenders what they think about their ISO's. The large and then the small. At Greenstone, I try my absolute best to run my shop as transparent and honestly as possible while still being able to offer and sell up to 4th position.

    I want to ask the second position lender what do they expect an ISO to do when a customer takes one of your products but then the ISO finds out they are seeking a 3rd position!? Is it on the 2nd Position lender to put in their contract explicitly that the merchant can not take more fundings and to monitor and penalize? If the ISO knows if they refuse to help the borrower that they will go else where and get the 3rd position and lose the commission on a file they originally brought in?

    Does the 1st and 2nd position lenders find ISO's to be honest and trust worthy overall? Is there a preference and the math skewed to the larger ISOs because a default does not affect their overall profits so much compared to deals brought in? Do you think the small ISO's are doing anything different or sourcing the leads differently than the large, or is it bad luck and the large ISO is forgiven more quickly but it averages the same?

    I wanted to ask, if those in the know think the industry is "imploding" or in flux? I remember last year a similar period but I have noticed much fiercer competition and more unscrupulous tactics by my competing ISOs.

    Also, I was interested from a lender that does 4th, 5th+ position, what are they thinking!? I have seen deals done with a $1000 balance, funding $20,000 and now their daily ACH is about $2000 a day! That is 10 days to burn through the 20k and they have an idea to use it for something, not just let everyone else debit!? I think there is some lack of maturity out there and is that on the ISO, the lender, the borrower, what % blame I am wondering on this hypothetical 5th position that all 3 should know would collapse the account!?

    I am really curious to know what the lenders and ISOs think about these questions from a small ISO who really is as honest and transparent as possible but I feel we are grouped with all the other small ISOs when it seems to us the lenders are sometimes making bad decisions and we are really curious about the direction of the MCA market!?

    We are actually thinking of moving to non-ucc, non resold MCA lists, to Dunn and Brad Street or just neutral leads with industry and revenue information and selling to borrowers for 1st position depending on the results of our research and information on where the market is heading.

    On any deal that we do, we encourage the Lender lending the funds to ask all the questions they want and will even volunteer any pertinent information. Let me ask this question, can a small ISO doing high risk deals, be considered trustworthy or are they viewed with suspicion as if they had some voodoo effect on defaults!?

    I am really interested and curious to see the responses. Please do not hesitate to email me about how we can do business together if this is the first time hearing of Greenstone Capital! We are trying to prove that good honest business and 3rd through 5th+ position deals can go together!

    Timothy Fuller
    Greenstone Capital LLC
    244 Fifth Ave
    TimothyF@GreenstoneCapitalSource.com
    Last edited by GreenstoneBroker; 02-23-2018 at 02:07 PM. Reason: *

  2. #2
    I forgot originally to brag about how much I make. This also seems to be a trend. I have had $40,000 months which is great for me. I have also had months much lower and the last few months in particular have been rough and strange as if the industry seems to be "eating itself" the best I can describe. Still good months compare to working for someone else and I expect things to improve. I intend to be here for the long run and want to adapt however the market evolves. I also notice many ISOs and reps add a few zero's to their "monthly average." That does not help anyone, and whoever started that should be honest!

Similar Threads

  1. Looking for a honest ISO-
    By Chair11 in forum Merchant Cash Advance
    Replies: 6
    Last Post: 12-28-2016, 04:45 PM
  2. Honest Team Oriented ISO looking for help
    By All Star in forum Help Wanted
    Replies: 0
    Last Post: 11-14-2016, 10:02 PM
  3. The Most Honest Representation of Alt-Fi
    By HDF in forum Merchant Cash Advance
    Replies: 0
    Last Post: 05-19-2016, 10:50 PM
  4. Looking for a quick and HONEST Lender??
    By Chevy in forum Merchant Cash Advance
    Replies: 4
    Last Post: 07-13-2015, 01:32 PM
  5. To be perfectly honest
    By bdshaw in forum Merchant Cash Advance
    Replies: 2
    Last Post: 06-08-2015, 03:51 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY