Results 1 to 25 of 35
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09-10-2019, 11:03 AM #1
Reputation points: 14746
- Join Date
- Sep 2019
- Posts
- 109
Brand new to MCA
It is my first month brokering mca loans. roast me
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09-10-2019, 11:09 AM #2
Reputation points: 226631
- Join Date
- Feb 2017
- Posts
- 3,419
Thinking back to newbie days, it's nice to hear someone admit it for once!
Comment #1: Don't call MCAs "loans"
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09-10-2019, 11:16 AM #3
Reputation points: 14746
- Join Date
- Sep 2019
- Posts
- 109
thank you! I will keep this in mind
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09-10-2019, 11:21 AM #4
Reputation points: 77721
- Join Date
- Jan 2018
- Posts
- 518
run as fast as you can to the middle of nowhere
https://www.youtube.com/watch?v=JDKGWaCglRM
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09-10-2019, 11:29 AM #5
Reputation points: 3706
- Join Date
- Jan 2017
- Posts
- 387
Good luck and wishing you all the best!
Paul Boxer
Merchant Marketplace
Chief Operating Officer
Chief Revenue Officer
Cell: (516) 805-9209
paul@merchantmarketplace.com
www.merchantmarketplace.com
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09-10-2019, 11:34 AM #6
Reputation points: 57713
- Join Date
- Dec 2017
- Posts
- 397
stay off daily funder
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09-10-2019, 11:40 AM #7
Reputation points: 307559
- Join Date
- Jun 2015
- Posts
- 3,322
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09-10-2019, 11:45 AM #8
Reputation points: 338677
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,483
Hi Ghost,
Welcome to DF and good luck.
Words of wisdom:
-Go after companies in industries you know well.
-Build a network of reputable capital providers that provide all types of credit products.
-Understand the client's business and needs before trying to sell them on specific product.
Now...the life cycle of DF:
-Every broker wants to be a funder.
-Every funder wants to own their own business.
-Every business owner want to blow their brains out.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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09-10-2019, 11:50 AM #9
Reputation points: 338677
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,483
PS: Don't be a Ghost. Real people use real names.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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09-10-2019, 11:56 AM #10
Reputation points: 22606
- Join Date
- Nov 2016
- Posts
- 166
....
Last edited by swiftcloser; 01-28-2020 at 09:41 AM.
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09-10-2019, 11:58 AM #11
Reputation points: 27380
- Join Date
- Aug 2019
- Posts
- 197
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09-10-2019, 12:08 PM #12
Reputation points: 22606
- Join Date
- Nov 2016
- Posts
- 166
....
Last edited by swiftcloser; 01-28-2020 at 09:40 AM.
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09-10-2019, 12:09 PM #13
Reputation points: 14746
- Join Date
- Sep 2019
- Posts
- 109
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09-10-2019, 12:10 PM #14
Reputation points: 14746
- Join Date
- Sep 2019
- Posts
- 109
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09-10-2019, 12:14 PM #15
Reputation points: 26115
- Join Date
- Jun 2019
- Posts
- 287
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09-10-2019, 12:24 PM #16
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09-10-2019, 12:29 PM #17
Reputation points: 77721
- Join Date
- Jan 2018
- Posts
- 518
-Understand the client's business and needs before trying to sell them on specific product.****
You don't have to tell the client that you can get them a bank loan/line of credit 30 days through the advance, or that you will blacklist them if they don't take your offer, or even brag about how amazing you are and how great it is for them to work with someone like you. Before pitching the deal, understand why the merchant wants money and if they tell you no, you don't have to blow up and cry. You can use real sales tactics by going back to the reason the merchant was seeking money in the first place. Explain why and how this offer makes sense and maybe even explain the reasons for the offer (was credit bad?, negative days, low revenue, industry type, etc...). Don't be a dick when explaining why offer isn't what they expect, just let them know that underwriters have to mitigate risk based on these factors and you can even tell merchant that if they establish good payment history, underwriters are willing to look past these factors on a renewal. Also, offer credit repair with your advances. If you can help the merchant repair credit so they can get into a better program over time, you are a hero to them.
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09-16-2019, 12:03 PM #18
Reputation points: 25526
- Join Date
- Aug 2018
- Posts
- 286
Humbly learn as much as you can every day, apply, and optimize along the way for what works well.
Happy Funding!
-FundingStrategist
https://fundingstrat.com
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09-16-2019, 12:47 PM #19
Reputation points: 13
- Join Date
- Aug 2019
- Posts
- 36
Warm Regards,
ABE KAND
Lifetime Funding
ISO Manager
Direct: (516) 604-0602
Address: 585 Stewart Ave Suite L90 Garden City, NY 11530
Website: www.Lifetimefundingllc.com
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09-16-2019, 12:57 PM #20
Reputation points: 54989
- Join Date
- Dec 2013
- Posts
- 4,713
I find the newbies do very well.... They seem enthusiastic enough to put in the extra leg work that (usually only) newbies have when starting out a new life opportunity (Shocker: they even walk door to door in their own town!) I love when new person is not sure what ISO or MCA stands for ...Here at mantis my goal is to help you as much as possible FUND your way into this industry!
FYI -- I see new iso's joining this space more than ever since my mca start in 2005!Last edited by mcaguru; 09-16-2019 at 01:00 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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09-16-2019, 12:59 PM #21
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
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09-16-2019, 01:01 PM #22
Reputation points: 54989
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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09-16-2019, 02:49 PM #23
Last edited by Jstarr; 09-16-2019 at 02:54 PM.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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09-16-2019, 03:31 PM #24Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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09-16-2019, 03:41 PM #25
Reputation points: 26419
- Join Date
- May 2018
- Posts
- 130
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