"Make as much money as you can now" is the thing right now.... instead of "How can I innovate my team now" and see the $ come in naturally

- "We're a new lender in the space! We do 2-10th positions - any industry!" If you use the word "lender" and have lower standards - odds are you know nothing and are a puppet and the person repping your Company is going to bite the bullet for you and eventually leave knowing you are using them for a few months to collect ISO and Deal data.. Hmm New Reps... think about that real quick and think about your worth. How much are you being promised to make? I give it 5 months tops - at 6 months they won't want to pay you anymore. Great salesman can't be sold.

- Doing reverses is not an innovation - just makes you a bigger idiot trying to fit in with the "cool" kids that everyone else knows will be bald, fat, and toothless in a trailer park at the reunion. Hmmm

- Ask yourself this... There are so many funding companies with bad reputations out there, how hard is it to dangle a fake "line" in the face of a desperate Broker Shop? Oh, it's so easy. So easy it happens again. and again. and... here we are now with the colors, bugs, flowers, and missing letters - and whatever pronouns/adjectives you can put in front of the word "funding" or "capital"....hmmm

A whitelabel is frowned upon but it's actually a great thing - IF you are using it direct to Merchant to keep your brand consistent. NOT to play unsuspecting Broker Shops to send you paper - Ask *who does your underwriting?Who is there underwriter? Are they on linkedin? Funding Companies (the real ones) are proud of their Underwriters. They didn't just go to popeyes drunk one night and hire someone (true story). If your rep doesn't know the UW name or says we have 9 of them and you know they can't afford the salary of 9 UW @ $80k+ a pop... hmmm

- If a shop accepts anything and everything - it's a red flag. High Risk has levels. Whether it's $5k or $500k - If they can't tell you the rules about specific industries you grill them on - they don't know jack and you should walk away.

Are you wanting to grow in this space? Are you looking to Partner with new Funder Lenders Funders and getting hit up left and right? A directory can't give you what you need - research and know the red flags. Phone a friend... Google the phone number...

*For the newer pop-up shops you question to sign up with...
The bigger the shop the more likely they are to whitelabel out and house the operations/underwriting which can lead to VERY bad business. Your submissions become their data in a short period of time. Funded or not, the book you are trying to grow is not safe. The Rep you work with may be the fastest talking in the wild west but just know they eat off you. Of course they're going to reel you in and be amazing - but wait after 30 days. Yes, no one "owns" their Clients and your agreement clearly states that once a Merchant is in contract - YOU, the Broker, are nothing. I know many who are trying to get their Clients into a better situation just to be called in a few weeks because the data was backdoor or sold off.

*Positive takes from this...

The amount of guidance and advisory is on the rise in our Industry because we know there are greater alternatives.

There are levels to the common Broker Shop - you have those just pounding the phones for 2nds and up - and then you have those who are an all-in-one and base their products on the Partnerships and service they provide. The two should NOT be mixed but unfortunately in this space they are and both treated like the same garbage. It's sad that these Companies don't take the time to know the difference in the Brokers they work with and know who is king at origination/rapport and here for the long run.


Just some random advice from someone who has seen and experienced some crazy stuff in this industry