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07-18-2019, 05:39 PM #1
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- Apr 2018
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Preventive clawback measures
Hey
Any good tips on preventing clawbacks on commissions with merchants?
What are some good techniques and strategies do you have in place to prevent these merchants from defaulting within the first 30 days?
Thx in advance!
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07-18-2019, 05:50 PM #2
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07-18-2019, 05:53 PM #3
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- Apr 2018
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I guess im not seeing the bigger picture youre right. rather how you prevent them ever going into default?
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07-18-2019, 05:59 PM #4
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Best way to make sure they don’t default is stay in touch with them and try to prevent some broker from stacking your deals.
Just make sure the communication is good. You want the merchant feeling comfortable enough with you that if they hit a rough patch they don’t either stacking themselves like crazy, or just stopping payments. Most funders will work with a merchant if they’re having a hard time.Last edited by WestCoastFunding; 07-18-2019 at 06:03 PM.
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07-18-2019, 06:00 PM #5
Fund them less than their maximum approval.
Coach them to make sure they use their funds intelligently.
Help them with their marketing.
Help them reduce their operating expenses.
Explain the negative impact a default may have on their business's ability to secure funding in the future.Zachary Ramirez CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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07-18-2019, 06:09 PM #6
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- Jan 2014
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- 1,380
make sure they can actually afford it, don't sell them on some dream of "yea we'll refi you into a term loan", make sure you keep open communication with merchant so they call you first instead of lender if they run into any issues before calling lender directly saying they want to lower payments etc etc...do the right thing for them and you will most likely rarely run into a clawback issue.
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07-18-2019, 06:49 PM #7
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- Dec 2017
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Keep the carrot in front of the horse
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07-18-2019, 07:19 PM #8
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- Apr 2018
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- 116
Wow, this is all gold, thank you!
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07-19-2019, 09:30 AM #9
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07-19-2019, 10:16 AM #10
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- Apr 2018
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I kind of agree, it's tough to console with all the headaches of even trying to fund new clients.
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07-19-2019, 10:36 AM #11
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Ivae been doing this.... 13 Years....
And Total Clawbacks I have can be counted on one hand.
Most Clawbacks that are about to happen can be avoided, with communication.Last edited by ryan $; 07-19-2019 at 10:59 AM.
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07-19-2019, 10:50 AM #12
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- Dec 2013
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Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-19-2019, 11:19 AM #13
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- Jun 2015
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07-19-2019, 11:22 AM #14
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- Jun 2015
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let them know to always speak with you to figure something out if they are having trouble. A lot of times you can help avoid the default by getting them into a different loan or working out some sort of early renewal etc .. and if no options just scare the living daylight out of them
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07-19-2019, 11:31 AM #15
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07-19-2019, 11:32 AM #16
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07-19-2019, 11:41 AM #17
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- Jun 2017
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No I didnt.
I literally remember being hit with a Clawback 5 Times.
1 was actually Recent, Zobeng Trucking. Dude planned it. It was a Previous default deal he defaulted on purpose right out the gate (and people wonder why default companies exist with such high rates and short terms) they give scumbags like this guy a chance
I should add a disclaimer - For a Few Years I was doing more Lead Gen/SEO/Website Stuff and just getting rips rather than the sales side of things.
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07-19-2019, 12:41 PM #18
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07-19-2019, 12:43 PM #19
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- Dec 2017
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russian in cali did the dine and dash on me last month
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07-19-2019, 12:45 PM #20
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- Dec 2017
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