Here's what the funders are saying... There's a theme here: relationships = residual revenue. What say you?

“I think the first thing, which many of them do already, is get to know the lenders really well – so that they can tailor what they submit to each funding company appropriately. Secondly, and again, a lot of brokers do a great job with this, know who the client is or who the customer is that you’re sending to a funding company to make an offer. Because the more targeted that is, the more efficient we can be in providing the right types of offers back to the broker so that they can present the right offers to their customers.”
– Jeremy Brown, Chairman, RapidAdvance | https://www.rapidadvance.com/

“A broker shouldn’t feel the need to have 25 different funders. Work on building strategic relationships with a handful of funders. What I would like to say to brokers is: Have a few options in all the categories, but you don’t need 10 options in all the categories. Work to build relationships. Relationships are going to count more and more in the future.”
– David Frascella, Co-founder, Funding Metrics | https://fundingmetrics.com/

“A lot of people are using a shotgun approach, working with a variety of lenders. When you look at the expense load, a lot of it is front loaded with marketing costs and sales expense. And the only profit really is long-term residual value or renewal income. It takes some thought process on how companies usually sift through decisions on what product you really want to offer because it’s the owner’s choice of what’s being sold. And, “Are you selling the best product that’s going to give you long-term value, or are you giving that up for quick speed or convenience?””
– Dave Gilbert, CEO, National Funding | https://www.nationalfunding.com/