[GoodCustomerService]

Good day, Everyone. I have a question to ask....

I've been an MCA guy for 14 years now. I've done it all! Sales, processing, initial underwriting, ISO Support, Final Underwriting, Funding, Collections....pretty much every job, other than accounting, at an MCA funder. I've always been known as someone trying to do the right thing by clients. ISO or Merchant, doing right has always felt like the only way to wake up and feel good about working in Sub Prime. I've recently opened up a new funding company, called Primary Capital (www.primarycap.com), doing traditional MCA and some asset backed deals. We spent the first 6 months studying the market, other competitors, other products similar to MCA, to create pricing and funding guidelines that we hope and believe works for the current MCA market. We also funded and collected from over 150 merchants in that period, just while in ramp up. Making sure our portal is live and working, our integration is working for payments with our ACH Processor and split funding partners, and our financial reporting is in order. Also had the chance to recently beta test syndication management and reporting, which is looking good. It's been hard work, but fun and educating and we hope to build from here.

Now, these deals were submitted strictly from ISO's and referral partnerships I've had for many years. People who had no issue providing us with a shot at a large percentage of their business, because I had proven in the past that I can come through. But now I need to go to the next level! Increasing business from here requires new relationships who are also open to giving us a shot at their consistent business. Everyone I speak to, or at least the relevant originators that can close deals, keep mentioning their "Starting 5" funders. You can say "top 5" Funders also, but basically defined as the "5 companies that see all of my paper". And they are happy, for the most part. Most guys usually say they are looking for a "D and F" paper Funder, not really an A through C guy, because they are good with who they work with but always can make room for a "garbage funder".

So the question is.....to the hard working, educated and experienced ISO.....what does it take for an educated, hard working and experienced funder to "crack YOUR starting 5"?Even NBA coaches eventually have to give their aging star a bench roll due to better and more versatile players joining the league. Well, Primary Capital is up for the challenge. Who is holding open tryouts?

[Winning]

Question, where do you feel your competitive advantage lies? With A-C paper or D-F paper? Your technology?

what does it take for an educated, hard working and experienced funder to "crack YOUR starting 5"?

I don't think you should ask "what does it take for you to be considered".

I think you should tell and show why you should be considered...

Right?

create pricing and funding guidelines that we hope and believe works for the current MCA market.

we hope to build from here.

Also I would think most people would like to know that they are dealing with a company that has it figured out, not figuring it out as they go...

Just giving you my honest feedback regarding this particular pitch...

[GoodCustomerService]

I appreciate the feedback.

We can be competitive on deals sub 12 months in term. Our best factor at 12 months is a 1.30 Buy rate. We don't go longer unless it's asset backed (which max is 24 months). We work well with ISO's that are looking for someone who can get on a call and help structure and close the deal with them. Like a team.

[Winning]

I appreciate the feedback.

We can be competitive on deals sub 12 months in term. Our best factor at 12 months is a 1.30 Buy rate. We don't go longer unless it's asset backed (which max is 24 months). We work well with ISO's that are looking for someone who can get on a call and help structure and close the deal with them. Like a team.

Ok, now we getting to the meat and potatoes so to speak!.

You dont mention funding amounts you feel you are a competitive fit for?
Are you into micro deals? 30-75K? 100-500K? Milions? etc..

What collection options?
Lockbox, CC Split, Daily, Weekly, Monthly, etc??


Also, I would think if you are starting with a 1.30, you are looking for the D-F paper?

[GoodCustomerService]

I sent you a PM. I'm free to discuss.