[fundingsmbs]

Hello,

I am interested in learning more about the underwriting process for an MCA. After having dozens of files declined, I have realized the amount of time I am wasting with these files. Would anyone care to share a quick formula to determine if a merchant is fundable?

Thank you,
John Smith
j.smith.mca.cash@gmail.com

when I first started, I thought the same thing. than I realized, I was using the wrong funding companies. I also realized in talking to other broker's, everyone will have different experiences with funder's they join. Unless those deals were bottom of the barrel in credit, outstanding balances, etc, you should never go 0/12 on submissions to offers. we really go into this now with our network of every deal can get an offer, albeit the lower credit stuff and out of the box industries may get a short repayment option and low dollar offer, it's an offer. this is all part of the learning experience though. New folks today have a lot to catch up on in the business that simply can't be taught on a forum.

[Karen37a]

when I first started, I thought the same thing. than I realized, I was using the wrong funding companies. I also realized in talking to other broker's, everyone will have different experiences with funder's they join. Unless those deals were bottom of the barrel in credit, outstanding balances, etc, you should never go 0/12 on submissions to offers. we really go into this now with our network of every deal can get an offer, albeit the lower credit stuff and out of the box industries may get a short repayment option and low dollar offer, it's an offer. this is all part of the learning experience though. New folks today have a lot to catch up on in the business that simply can't be taught on a forum.

I agree and I have been independent for a long time, building teams on a shoestring budget ...until you make it

I learned one thing...the new broker better be coachable...better have a mentor ( experienced mentor /iso with results in the form of commission) of they are never going to make it. ( unless they are a sales superstar)..even then you go thru a huge learning curve that most will not survive on their own..( and why would you want to)

Lots of mistakes will be made costing $$$$$$$ and time on advertising/leads etc. Which is why the day I came to the DF I was an advocate of free to no cost uccs. and sweat equity..to see if the person can even make it.

Using the motto..." if its free its for me"