[abfunders]

If we're "advisors," IMHO we should be getting them the best rate, not making 10 points "upsell." Selling cash is not a broker, as I've said. How many appliance repairmen are "advisors" when they tell you the fix it and not get a new one? How many people know that Duracell batteries make all the off-brands (to keep their factories going) and have the same shelf life? (Amazon batteries are just Eneloops.) How many Gap salesmen tell someone to get the same shirt at a different store without the logo on it for cheaper?

Yes, I agree that most clients cannot flip their money fast enough for these. However, there are sometimes longer-term reasons to take a loss on this funding now (i.e. the other option is equity). We aren't their accountants or their advisors to know!

My opinion (and I've said this a few times) is that my responsibility to make the lenders like the borrowers (funders like the merchant), and each one approve of the deal on their side. That's the real job of a broker. Our responsibility is not to bring horrific deals to the funders, play by their rules (i.e. if they say "no fees" then don't add on fees). Obviously stacking a guy to death just to make money is irresponsible, but not because we're "working" for anyone, rather because our funders expect the merchant to finish the term, and ideally you should want your merchants to make money (since that's why you brought them to X funder and not Y)

However, most people just throw MCAs at them because they make "double digit commission + PSF." That's not doing the "job" as a broker or advisor, that's just selling an overpriced loan-like product.

[mcaguru]

I think everyone is selling the Merchants-Short --They are business owners who already have a Business bank account and leased a location have employees on a payroll and etc. --- its not like MCA brokers are more convenient than their local bank that already manages their banking needs-- they are in touch with alternative financing options mainly because their current bank turned them down --- have they been able to get a credit line or etc from their actual bank they would not take a 1.18 let alone anything higher. I dont care how good the salesman is ...My background was Credit card processing its was one of the most toughest sales to get a merchant to switch processing so they are NOT taking Capital from a good pitch on the other side of the phone line. they make the calculation and make decisions based on their current and near future needs.

[Kevin Henry-Seacoast]

The biggest reason companies take an advance rather than speaking with their bank is time. Hence the reason why many banks have sped up their process for small loans. Yes-there are many that do not qualify because of various reasons, but the biggest reason they take them is speed.

[mcaguru]

The biggest reason companies take an advance rather than speaking with their bank is time. Hence the reason why many banks have sped up their process for small loans. Yes-there are many that do not qualify because of various reasons, but the biggest reason they take them is speed.

why do you think they take so much time ?

[Kevin Henry-Seacoast]

why do you think they take so much time ?

Most banks are adding technology into the mix to speed up the process, but most will also rely on human to underwrite. Small stuff can move quick because even the smallest banks have quick approvals on loans if all the boxes are checked.

Most of our credit decisions are done within our division hence the reason we are so fast. Example: $3Mil factoring facility. From first conversation to closing took 11 days. We would have closed in 9, but we had to wait on their former bank for the pay off letter.
We just had a transaction delayed for 8 days because an advance company needed to send out a subordination agreement to outside counsel for review. We bought the position from the former factor. The subordination agreement was the advance companies own document, yet they needed outside counsel to review their own F'ING document!!!! So much for their claim of being fast.....

[mcaguru]

Most banks are adding technology into the mix to speed up the process, but most will also rely on human to underwrite. Small stuff can move quick because even the smallest banks have quick approvals on loans if all the boxes are checked.

Most of our credit decisions are done within our division hence the reason we are so fast. Example: $3Mil factoring facility. From first conversation to closing took 11 days. We would have closed in 9, but we had to wait on their former bank for the pay off letter.
We just had a transaction delayed for 8 days because an advance company needed to send out a subordination agreement to outside counsel for review. We bought the position from the former factor. The subordination agreement was the advance companies own document, yet they needed outside counsel to review their own F'ING document!!!! So much for their claim of being fast.....

you are talking about a larger merchants. What about the Pizzeria in Idaho that needs 35K to double the size of his location (after the Barbershop moves) and his Landlord says he needs a commitment or hes leasing to another merchant --and his credit is 520 -- whose giving him the 35K aside from B-ZZZ funders ?

[WestCoastFunding]

you are talking about a larger merchants. What about the Pizzeria in Idaho that needs 35K to double the size of his location (after the Barbershop moves) and his Landlord says he needs a commitment or hes leasing to another merchant --and his credit is 520 -- whose giving him the 35K aside from B-ZZZ funders ?

First off, pizza parlors in Idaho use American cheese on pizza, so they deserve to close.

[mcaguru]

First off, pizza parlors in Idaho use American cheese on pizza, so they deserve to close.

At mantis will fund tham even if god forbid they put pineapples on top or even worse (i hope i don't get banned) the cheese-less slices.

[Kevin Henry-Seacoast]

you are talking about a larger merchants. What about the Pizzeria in Idaho that needs 35K to double the size of his location (after the Barbershop moves) and his Landlord says he needs a commitment or hes leasing to another merchant --and his credit is 520 -- whose giving him the 35K aside from B-ZZZ funders ?

Small merchants with dinged up credit are not getting bank lines. Small merchant with good credit can get an advance faster than most banks hence the reason they take them. Bad credit, you don't have much of a choice. Good credit, you do if you have time. There is a place for advances in the capital markets system if used correctly.....I have always said so.

[Kevin Henry-Seacoast]

First off, pizza parlors in Idaho use American cheese on pizza, so they deserve to close.

And they have rats.....GIANT rats!

[Kevin Henry-Seacoast]

At mantis will fund tham even if god forbid they put pineapples on top or even worse (i hope i don't get banned) the cheese-less slices.

You should be banned from Pizza Girls!
Now...if you tell every on DF you eat pizza with a fork.....you will get banned from DF.

[mcaguru]

So here is what i have learned from being involved with Merchants since 2001 --- Business owners are not the typical kind of person for example on paper most businessman will tell you that if they went for proper coaching when they started their business they would have been told to Stop with their plan (dreams) and get a real job -- but they forge ahead and get a little dented here and there including their credit (yes they pay their debts late many times so they can pay there 3 employees --- fast forward 20 years in the business of taking tremendous risk (that on paper makes no sense perhaps) they put 3 kids trough collage / own house / and etc.... Now if they met a policy maker 17 years back who coaching them on risk they would be crawling to the side of isle so i can move my cart passed them as i reach for my soy-milk.

[Chambo]

So here is what i have learned from being involved with Merchants since 2001 --- Business owners are not the typical kind of person for example on paper most businessman will tell you that if they went for proper couching when they started their business they would have been told to Stop with their plan (dreams) and get a real job -- but they forge ahead and get a little dented here and there including their credit (yes they pay their debts late many times so they can pay there 3 employees --- fast forward 20 years in the business of taking tremendous risk (that on paper makes no sense perhaps) they put 3 kids trough collage / own house / and etc.... Now if they met a policy maker 17 years back who couched them on risk they would be crawling to the side of isle so i can move my cart passed them as i reach for my soy-milk.

who couched you on that response?

[HDF]

who couched you on that response?

The mere fact that anyone would pay this broker fool a penny for what he does is astounding.

[abfunders]

who couched you on that response?

Chambo, I think the guy that couched him is the same one who put his 3 kids through collage.

[mcaguru]

English my 3rd language.

[Chambo]

English my 3rd language.

You love Trump so much, why not listen to him then and GO BACK TO WHERE YOU CAME FROM!

[SmartAdvanced]

You love Trump so much, why not listen to him then and GO BACK TO WHERE YOU CAME FROM!

So Marcus, let’s talk about Race.
Are you an American? Where you born here?

[brokerCompany]

You love Trump so much, why not listen to him then and GO BACK TO WHERE YOU CAME FROM!

Trump lives in so many little minds rent free

[mcaguru]

USA BORN --Went to a school that Spoke only in Yiddish A German dialect mixed with Hebrew. Grandparents Swiss/Austrian/USA/USA

[mcaguru]

You love Trump so much, why not listen to him then and GO BACK TO WHERE YOU CAME FROM!

Regarding Trump --We needed a President that NO longer confused efforts with results --- seems like hes doing a great Job = A 2020 ! 2024 my gutt tells me will see a Pence-Haley Ticket!

[BROKER TIME]

Regarding Trump --We needed a President that NO longer confused efforts with results --- seems like hes doing a great Job = A 2020 ! 2024 my gutt tells me will see a Pence-Haley Ticket!

shut up already

go fund your micro deals with your micro peni$