[Accord Business Funding]

We would like to get feedback from the community on this. Your feedback would be valuable to us.

[BROKER TIME]

We would like to get feedback from the community on this. Your feedback would be valuable to us. What do you consider as good customer service and bad customer service from a funder?

if you dont know what the difference thats a problem

[Accord Business Funding]

We know what the difference is. We want to know what you all have experience and hear it from you guys. Poor communication? Unable to get in touch with anyone? Flexibility on offers to be able to compete? No reply to calls and emails? No updates on offers / contracts? etc....

[BROKER TIME]

We know what the difference is. We want to know what you all have experience and hear it from you guys. Poor communication? Unable to get in touch with anyone? Flexibility on offers to be able to compete? No reply to calls and emails? No updates on offers / contracts? etc....

your question was not whats their experience

your question was "What's good and bad customer service to you?"

which you answered and obv knew the answer


so the point of this post was....................

[JasonBishop]

Hi Kevin,

My .02 cents on Customer Service is being accessible to your customers and having the right processes in place to acknowledge customer inquiries in a timely manner. Even if a customer has a request or a matter that needs to be attended to more in depth, an acknowledgment that your office is in receipt of their inquiry is a good start. Customer Service is also more than just responding to inquiries. Engaging with the customers regularly whether it is simple courtesy calls or quick "check in" e-mails. A proactive customer service sweep lets the current or former customer know that you care about them. Also encouraging feedback is great from a quality control perspective. Also having the support team maintain the "Under-promise, Over-Deliver" concept. E.g. In your case, if you have a policy to get approvals done in 24 hours, make it an internal policy to actually have them done in 12. This way the expectation of 24 hours is set and the customer doesn't expect to hear from you for a day or so. When you come in just hours later, this can make quite an impression.

[Accord Business Funding]

your question was not whats their experience

your question was "What's good and bad customer service to you?"

which you answered and obv knew the answer


so the point of this post was....................

You're right, I should've worded the title differently. The point of this post is to get honest valuable feedback from what you all have had experienced in regards to the good, the bad, and the ugly with other funders without dropping names.

[Accord Business Funding]

Hi Kevin,

My .02 cents on Customer Service is being accessible to your customers and having the right processes in place to acknowledge customer inquiries in a timely manner. Even if a customer has a request or a matter that needs to be attended to more in depth, an acknowledgment that your office is in receipt of their inquiry is a good start. Customer Service is also more than just responding to inquiries. Engaging with the customers regularly whether it is simple courtesy calls or quick "check in" e-mails. A proactive customer service sweep lets the current or former customer know that you care about them. Also encouraging feedback is great from a quality control perspective. Also having the support team maintain the "Under-promise, Over-Deliver" concept. E.g. In your case, if you have a policy to get approvals done in 24 hours, make it an internal policy to actually have them done in 12. This way the expectation of 24 hours is set and the customer doesn't expect to hear from you for a day or so. When you come in just hours later, this can make quite an impression.

That's what I'm talking about! I appreciate your .02 cents Jason. That's good stuff.

[Accord Business Funding]

your question was not whats their experience

your question was "What's good and bad customer service to you?"

which you answered and obv knew the answer


so the point of this post was....................

We're always looking to improve as a funder. Most we probably already know, but I'm sure there are things or perspectives we never thought of. I'm sure there are times where you think and say to yourself. "If I was a funder, I would totally do things this way versus how they are doing it. They just lost my business."

[Michael I]

the ability to be reached when the iso needs you (yes an hour is to long when i want a contract). the ability to actually be able to do something(some iso reps have zero power to do anything ever). the not screwing up ( i just had a funder 3 times send me the wrong contract). the ability to handle us crazy salesman.Ability to call a merchant if need be. ability to understand the competitors and what is needed to fund a deal.
what we dont need is iso reps non stop calling for deals , calling to go over metrics and all that stupidity. calling to explain how bonuses work .
that is all from iso reps
from actual funder
fast approvals that stick unless something crazy pulls up .doing a search for half the stips that can be found online .not charging crazy fees. knowing the industry and understanding how the approval is . and most importantly. good commission

[Accord Business Funding]

the ability to be reached when the iso needs you (yes an hour is to long when i want a contract). the ability to actually be able to do something(some iso reps have zero power to do anything ever). the not screwing up ( i just had a funder 3 times send me the wrong contract). the ability to handle us crazy salesman.Ability to call a merchant if need be. ability to understand the competitors and what is needed to fund a deal.
what we dont need is iso reps non stop calling for deals , calling to go over metrics and all that stupidity. calling to explain how bonuses work .
that is all from iso reps
from actual funder
fast approvals that stick unless something crazy pulls up .doing a search for half the stips that can be found online .not charging crazy fees. knowing the industry and understanding how the approval is . and most importantly. good commission

I appreciate the honest feedback Michael. All great points.

[J.Celifarco]

I appreciate the honest feedback Michael. All great points.

An open line of communication across the board, new deals, refi, and collections issues. Timely updates on all of these help all parties make money as well as not lose money when deals have problems.

[abfunders]

There are several funders I work with who are more than thrilled to help close the deals with the ISOs, if the ISO approves. The trick IMHO is hard - it's to know how the ISO wants to work the file, and following his/her lead. Some want white-label to feel like funders, some say, "I'm a broker," some are stupid salesmen, some are intelligent brokers. Some will say, "I brought you the file, pay me my 10 points," some will say, "I'm shopping this to 1000 other places, so if you make a good enough offer, I'll take it."

Also, never cut off an ISO because they haven't closed anything with you. If they're frauds, don't waste your time, but the one time a year that it pays off because of a funding, it's all worth it.

[Accord Business Funding]

An open line of communication across the board, new deals, refi, and collections issues. Timely updates on all of these help all parties make money as well as not lose money when deals have problems.

Thanks John. Great feedback!

[Accord Business Funding]

There are several funders I work with who are more than thrilled to help close the deals with the ISOs, if the ISO approves. The trick IMHO is hard - it's to know how the ISO wants to work the file, and following his/her lead. Some want white-label to feel like funders, some say, "I'm a broker," some are stupid salesmen, some are intelligent brokers. Some will say, "I brought you the file, pay me my 10 points," some will say, "I'm shopping this to 1000 other places, so if you make a good enough offer, I'll take it."

Also, never cut off an ISO because they haven't closed anything with you. If they're frauds, don't waste your time, but the one time a year that it pays off because of a funding, it's all worth it.

So true. Thanks for the feedback Micah.