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  1. #1
    Senior Member Reputation points: 208
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    Buy own leads at ISO shop?

    Is this normal for a broker to buy his own leads while working for an ISO shop? The shop is Premium Merchant Funding.

  2. #2
    Senior Member Reputation points: 301165
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    No. But they are huge ,they have a 100 plus reps so they might be doing something right

  3. #3
    Quote Originally Posted by Michael I View Post
    No. But they are huge ,they have a 100 plus reps so they might be doing something right
    HAH!!!! They basically do not pay their "reps" until 30 days from when the deal closes. They say it's due to the CLAWBACK period, however, once you think you are getting paid they will say "PMF does not pay individuals, you need to open an LLC". This may seem like common sense to people that have worked in the industry for a while, but they do not inform their reps of this before hand. I was a team lead there and it's disgusting the things they do. I closed 5 deals my first month, never got paid on one of them and just left.

  4. #4
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    Quote Originally Posted by dimes44 View Post
    HAH!!!! They basically do not pay their "reps" until 30 days from when the deal closes. They say it's due to the CLAWBACK period, however, once you think you are getting paid they will say "PMF does not pay individuals, you need to open an LLC". This may seem like common sense to people that have worked in the industry for a while, but they do not inform their reps of this before hand. I was a team lead there and it's disgusting the things they do. I closed 5 deals my first month, never got paid on one of them and just left.
    Who runs PMF? always get confused between BMF and PMF.

  5. #5
    Quote Originally Posted by dimes44 View Post
    HAH!!!! They basically do not pay their "reps" until 30 days from when the deal closes. They say it's due to the CLAWBACK period, however, once you think you are getting paid they will say "PMF does not pay individuals, you need to open an LLC". This may seem like common sense to people that have worked in the industry for a while, but they do not inform their reps of this before hand. I was a team lead there and it's disgusting the things they do. I closed 5 deals my first month, never got paid on one of them and just left.
    Hello Mr. Dimes44,
    I normally do not engage in false reporting but I could not resist on this one. I am not sure if you really think anyone believes you funded five deals then decided to leave... Furthermore, you were never a team leader. I do not know who you are but I can assure you that if you did in fact fund five deals then we would know. It is not uncommon to be paid every 30 days to avoid the clawback period. PMF did not get to 250+ reps, 7 offices, and 2 countries by not paying reps. I hope this clears everything up Mr. Dimes44.
    -Mason Kashat - 212-931-6852.

  6. #6
    Quote Originally Posted by Akanner View Post
    Who runs PMF? always get confused between BMF and PMF.
    Premium Merchant Funding is based out of Manhattan and is a larger firm. BMF is a funder based out of Brooklyn who focus on high risk deals.

  7. #7
    Quote Originally Posted by Iscibibi153 View Post
    Is this normal for a broker to buy his own leads while working for an ISO shop? The shop is Premium Merchant Funding.
    Hello Michael,
    As I mentioned on our first call when you inquired about working for us; we do not require you to purchase your own leads. However many MCA reps are always searching for the best leads and they are not prohibited from sourcing their own leads. All leads have to go through our system in order to remove TCPA litigators and people placed on the DNC list.

  8. #8
    yikes

  9. #9
    Well handled Mr. Kashat
    Last edited by fundjax; 06-16-2020 at 11:18 AM. Reason: typo

  10. #10
    Senior Member Reputation points: 51397 DTFdowntofund's Avatar
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    I recall a Premiere Capital Funding out of BK too. Not affiliated with the Premiere in the reverse consol arena.

  11. #11
    Even though they are a huge broker doing big numbers, they cannot be trusted.


    We got beat out by one of their brokers for 150k because they sent a term sheet to merchant for 150k same deal we had but more expensive of course, and following in 3 months a $300k 12% APR 48 months !!!!!!!!!!!!!!!!!!!!

  12. #12
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    I have a friend that worked in one of their offices for about 3 months. He closed deals, got paid on them, and left. He said it was disgusting what went on there. The place stank of dishonesty and games.

    Being big doesn't mean you are doing something right. That's foolish. It just means you found a lot of scum brokers and gave them a scum home.

  13. #13

    Pmf

    Quote Originally Posted by goatFunding View Post
    I have a friend that worked in one of their offices for about 3 months. He closed deals, got paid on them, and left. He said it was disgusting what went on there. The place stank of dishonesty and games.

    Being big doesn't mean you are doing something right. That's foolish. It just means you found a lot of scum brokers and gave them a scum home.
    Had deal they funded with pirs for 1.49 460k 15 months they lied with line of credit offer in the first month, put in fake docs in the contract now merchant cant pay they are bunch of liars. they promised him line of credit with payback of 480k instead 689k. PMF screw people over. reach out to me if you don't believe it

  14. #14
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    Quote Originally Posted by chaimrabinowitsch123 View Post
    Had deal they funded with pirs for 1.49 460k 15 months they lied with line of credit offer in the first month, put in fake docs in the contract now merchant cant pay they are bunch of liars. they promised him line of credit with payback of 480k instead 689k. PMF screw people over. reach out to me if you don't believe it
    There are like 5 PMF offices. There's no way to blame the entire company for one deal gone wrong. Especially if you heard it from the merchant.

  15. #15
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    If you have enough energy to complain then you have enough energy to leave.
    Furthermore, I find it difficult as to why you find 5 minutes from your day to badmouth other companies!
    There is one thousand four hundred and forty minutes in a day, use your time to provide the service your competitors failed to deliver?

    If you want to work with an ethical company in this shady industry please reach out to me.


    Channon Smith,

    Funding Specialist


    | Office | (646) 766-9922 Ex 1027

    | Fax | (888) 894-3518 or (212) 706-0117

    | Email | CSmith@ProsperumFunding.Com

    8 West 36th Street, Floor7 | New York, NY 10018

    ProsperumFunding.Com

  16. #16
    Senior Member Reputation points: 23563
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    Why are you having their back? everyone knows they are terrible news. It's company culture. Say whatever you need to get app & statements in.
    say whatever you need to to get docs signed. They are a large part of why we are all seen as bad apples & liars.

  17. #17
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    Are we forgetting that the industry is not regulated?
    If you want structure push for regulation to be in the industry?

  18. #18
    Senior Member Reputation points: 216519
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    I don't have PMF's backs. I just notice a pattern that merchants lie about their experiences, and there are many rogue employees who do stupid things. I prefer not to listen to heresay. Innocent until proven guilty. If you know otherwise because your worked there, that's a different story.

  19. #19
    Quote Originally Posted by MKashat@pmfus.com View Post
    Hello Mr. Dimes44,
    I normally do not engage in false reporting but I could not resist on this one. I am not sure if you really think anyone believes you funded five deals then decided to leave... Furthermore, you were never a team leader. I do not know who you are but I can assure you that if you did in fact fund five deals then we would know. It is not uncommon to be paid every 30 days to avoid the clawback period. PMF did not get to 250+ reps, 7 offices, and 2 countries by not paying reps. I hope this clears everything up Mr. Dimes44.
    -Mason Kashat - 212-931-6852.
    everyone in MCA is a leader
    Jacob kleinberger
    Simply Funding
    Jacob@simplyfunding.com

  20. #20
    if a broker can get his hands on some good leads why not invest just make sure you work something out with the shop your working for
    Jacob kleinberger
    Simply Funding
    Jacob@simplyfunding.com

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