[Franklin]

First, don't try to convince the merchant he's believing a lie right off the bat.

You don't know the IQ of the merchant, you don't know how ingrained the lie is, and you don't know how much he wants (the lie) to be true.

You never want to take a stance against the customer's core beliefs, you always want to show you're on the same side looking for his best interests.


YOUR METHOD OF ATTACK is to help the merchant understand HIMSELF/HERSELF that he's being lied to.


Ask questions that helps the merchant draw her own conclusions. Ask questions that you want the merchant to ask himself, that a normal person would ask if they were vetting out information.

You are giving the merchant the words to use to rip the broker apart themselves, without you having to do it.


Example:

The broker tells the merchant: "I'm giving you a cash advance and then in 30 days we'll get you an SBA loan to take out the cash advance and give you 8% rates for the next 10 years."




Your Response:

Listen that sounds like an amazing program, if you can get that, that's wonderful.

SO your credit is over 720? Oh no? well you do have to have a credit score 720 for them to even look at you. How much is he charging you to fix your credit? Its usually about $75 - $125 to remove a derogatory and $25 -$50 per inquiry. How many items did he say he needs to remove from your credit score?

Usually if needs to remove more than 3-4 items it can take 45 - 60 days. Do you know if you have less than 3-4 items? Did he tell you what he found on your report?

So your 5 trade lines are all under 25% utilization? Well he told you they have to be that low, correct or it's an auto decline? And you need to have 5 of them?

How does your landlord feel about personally guaranteeing your loan? He didn't mention your landlord?




So when you put the refundable deposit down for them underwriting your file, if they see you lied on any part of the application, they keep the deposit, he made you aware of that correct?

I think you might want to understand a little bit more about what you're getting into with this broker, or you could end up in a worse situation. As a friend, I would recommend you find out from him the answers to these questions before you move forward, and what took him so long to inform you of this critical information that could impact your company.


If you have time by the way I can completely give you the answers to all these questions, so when you ask him, you'll know more than he does.

For instance, let’s take your credit score...



At this point, the merchant has a ton of questions, you helpfully provided, and two things can happen:

-She hangs up, calls the broker back, who now looks like he's either hiding something or incompetent. That call probably won't go very well.

-She stays on the phone with you, appreciates your openness and transparency, breadth of knowledge willingness to look out for her, and assistance in dodging a bullet, and new trust equity is established.


Now you can convince that merchant of what's truly beneficial to them, and you have a recurring client.













www.UccRadar.com - oh it's MORE than just Uccs...

[FundingStrategist]

First, don't try to convince the merchant he's believing a lie right off the bat.

You don't know the IQ of the merchant, you don't know how ingrained the lie is, and you don't know how much he wants (the lie) to be true.

You never want to take a stance against the customer's core beliefs, you always want to show you're on the same side looking for his best interests.


YOUR METHOD OF ATTACK is to help the merchant understand HIMSELF/HERSELF that he's being lied to.


Ask questions that helps the merchant draw her own conclusions. Ask questions that you want the merchant to ask himself, that a normal person would ask if they were vetting out information.

You are giving the merchant the words to use to rip the broker apart themselves, without you having to do it.


Example:

The broker tells the merchant: "I'm giving you a cash advance and then in 30 days we'll get you an SBA loan to take out the cash advance and give you 8% rates for the next 10 years."




Your Response:

Listen that sounds like an amazing program, if you can get that, that's wonderful.

SO your credit is over 720? Oh no? well you do have to have a credit score 720 for them to even look at you. How much is he charging you to fix your credit? Its usually about $75 - $125 to remove a derogatory and $25 -$50 per inquiry. How many items did he say he needs to remove from your credit score?

Usually if needs to remove more than 3-4 items it can take 45 - 60 days. Do you know if you have less than 3-4 items? Did he tell you what he found on your report?

So your 5 trade lines are all under 25% utilization? Well he told you they have to be that low, correct or it's an auto decline? And you need to have 5 of them?

How does your landlord feel about personally guaranteeing your loan? He didn't mention your landlord?




So when you put the refundable deposit down for them underwriting your file, if they see you lied on any part of the application, they keep the deposit, he made you aware of that correct?

I think you might want to understand a little bit more about what you're getting into with this broker, or you could end up in a worse situation. As a friend, I would recommend you find out from him the answers to these questions before you move forward, and what took him so long to inform you of this critical information that could impact your company.


If you have time by the way I can completely give you the answers to all these questions, so when you ask him, you'll know more than he does.

For instance, let’s take your credit score...



At this point, the merchant has a ton of questions, you helpfully provided, and two things can happen:

-She hangs up, calls the broker back, who now looks like he's either hiding something or incompetent. That call probably won't go very well.

-She stays on the phone with you, appreciates your openness and transparency, breadth of knowledge willingness to look out for her, and assistance in dodging a bullet, and new trust equity is established.


Now you can convince that merchant of what's truly beneficial to them, and you have a recurring client.













www.UccRadar.com - oh it's MORE than just Uccs...

Great points!

-FundingStrategist
https://fundingstrat.com