[dailyfunderppt]

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!

[BROKER TIME]

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!

id hate to be the funder that funds your deals

if all you are worried about is the "first 30 days"

[dailyfunderppt]

I guess im not seeing the bigger picture youre right. rather how you prevent them ever going into default?

[WestCoastFunding]

I guess im not seeing the bigger picture youre right. rather how you prevent them ever going into default?

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.

[Zach]

I guess im not seeing the bigger picture youre right. rather how you prevent them ever going into default?

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.

[Sachip24]

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.

[Don Dolla]

Keep the carrot in front of the horse

[dailyfunderppt]

Wow, this is all gold, thank you!

[mrmrg]

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.

Help them lower their operating expenses and help them with marketing? Are you consulting now?

If you're busy funding deals then there is no way you have the time to hold merchant's hands and help them with their day-to-day operations.

[dailyfunderppt]

I kind of agree, it's tough to console with all the headaches of even trying to fund new clients.

[ryan $]

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.

[mcaguru]

Keep the carrot in front of the horse

your good i would have never known horse eat carrots if not for your example and google confirming that as fact !!

[Michael I]

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.

come on bro you didnt get hit with the Asian ring in cali that took this industry for millions . the aremanin mob thing and just straight up fraud guys who take money and run .Also the hurricanes that took so many business out .

[Michael I]

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!

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

[dailyfunderppt]

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.

Astonishing!
Any tips?

[dailyfunderppt]

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

Living daylights LOL

[ryan $]

come on bro you didnt get hit with the Asian ring in cali that took this industry for millions . the aremanin mob thing and just straight up fraud guys who take money and run .Also the hurricanes that took so many business out .

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.

[WestCoastFunding]

come on bro you didnt get hit with the Asian ring in cali that took this industry for millions . the aremanin mob thing and just straight up fraud guys who take money and run .Also the hurricanes that took so many business out .

The Armenian thing was relentless.

[Don Dolla]

russian in cali did the dine and dash on me last month

[Don Dolla]

your good i would have never known horse eat carrots if not for your example and google confirming that as fact !!

mantis definitely a little slow