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  1. #1

    Roc funding coming through

    Dan and Molly at ROC really came through and took care of our merchant and the commission owed. I understand COVID threw a lot of things off but these guys took care of it and we really appreciate it. I will definitely keep subbing files they're real people who did the right thing that's all I can ask for . Thanks guys.

  2. #2
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    the real question is would you have gotten paid your commission if you didn't bring the situation up on Daily Funder..

  3. #3
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    Quote Originally Posted by Sachip24 View Post
    the real question is would you have gotten paid your commission if you didn't bring the situation up on Daily Funder..
    Definitely not. This is a small industry and most of the brokers and funders lurk on here.

    ROC knows that not paying that commission will cause to lose way more iso business.

    Too late though.. Better luck next time you schmucks.

  4. #4
    Quote Originally Posted by Sachip24 View Post
    the real question is would you have gotten paid your commission if you didn't bring the situation up on Daily Funder..
    To ROC's defense me running my mouth about the merchants potential for not preforming on the advance early on after I felt things were not going my way did not help. Dan was pretty reasonable and it is a pandemic and this was my first deal with them. I understand wanting to wait until after the clawback period to pay out. The communication was an issue but they were also working remotely in the hardest hit area of the country during covid at the time. Either way, mission accomplished.

  5. #5
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    Quote Originally Posted by Gables Capital Group View Post
    To ROC's defense me running my mouth about the merchants potential for not preforming on the advance early on after I felt things were not going my way did not help. Dan was pretty reasonable and it is a pandemic and this was my first deal with them. I understand wanting to wait until after the clawback period to pay out. The communication was an issue but they were also working remotely in the hardest hit area of the country during covid at the time. Either way, mission accomplished.
    they are the lender. if you funded the deal with them you were supposed to get your commissions same day or following day no questions asked regardless of anything.

  6. #6
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    Excellent $$

  7. #7
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    Quote Originally Posted by Sachip24 View Post
    they are the lender. if you funded the deal with them you were supposed to get your commissions same day or following day no questions asked regardless of anything.
    Yeah and they also weren't able to communicate with you that they wanted to wait until commission clawback period was over because "they work in the hardest hit area of the country"(what does that even mean?) What does running your mouth mean too, can someone explain that to me? I've never heard someone funding a deal and than avoiding paying commission because someone decided to "run their mouth". I've heard that phrase in middle school playgrounds but never in a business transaction. Did you tell them that you were worried merchant might have payment issues due to coronavirus or something and they decided to title that as "he ran his mouth"?

    With all of that said, you do realize that there are PLENTY of funding companies who literally pay commission out the same day a deal funds.

  8. #8
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    Quote Originally Posted by Gables Capital Group View Post
    Dan and Molly at ROC really came through and took care of our merchant and the commission owed. I understand COVID threw a lot of things off but these guys took care of it and we really appreciate it. I will definitely keep subbing files they're real people who did the right thing that's all I can ask for . Thanks guys.
    Instead of submitting to ROC, next time just submit it to whichever funder ROC whitelabeled with.

  9. #9
    Quote Originally Posted by pcfunder View Post
    Yeah and they also weren't able to communicate with you that they wanted to wait until commission clawback period was over because "they work in the hardest hit area of the country"(what does that even mean?) What does running your mouth mean too, can someone explain that to me? I've never heard someone funding a deal and than avoiding paying commission because someone decided to "run their mouth". I've heard that phrase in middle school playgrounds but never in a business transaction. Did you tell them that you were worried merchant might have payment issues due to coronavirus or something and they decided to title that as "he ran his mouth"?

    With all of that said, you do realize that there are PLENTY of funding companies who literally pay commission out the same day a deal funds.
    Oh no man I had no idea funders paid out like that? Thanks SO much for that sage adviace. I've only been in cash advance for 4 years and funded 20m+ last year so I really don't know muc h about the biz I guess. I do know I got paid and thats all I care about.

  10. #10
    Quote Originally Posted by WestCoastFunding View Post
    Instead of submitting to ROC, next time just submit it to whichever funder ROC whitelabeled with.
    They funded it. Par declined the deal so did everyone else. Wires come from ROC too I'm pretty sure they took this one on their own books.

  11. #11
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    Quote Originally Posted by Gables Capital Group View Post
    Oh no man I had no idea funders paid out like that? Thanks SO much for that sage adviace. I've only been in cash advance for 4 years and funded 20m+ last year so I really don't know muc h about the biz I guess. I do know I got paid and thats all I care about.
    Hey man, any time!

  12. #12
    Quote Originally Posted by pcfunder View Post
    Hey man, any time!
    Any other ideas you got for me? been wondering how to tie my shoelaces for the LONGEST.

  13. #13
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    Quote Originally Posted by Gables Capital Group View Post
    Oh no man I had no idea funders paid out like that? Thanks SO much for that sage adviace. I've only been in cash advance for 4 years and funded 20m+ last year so I really don't know muc h about the biz I guess. I do know I got paid and thats all I care about.
    $20M last year? now thats a lot of money

  14. #14
    Quote Originally Posted by SmartAdvanced View Post
    $20M last year? now thats a lot of money
    It's an Avg of just over 1.6M per month in funded deals. It ain't that crazy but it's what my firm did as a 5 man shop.

  15. #15
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    Quote Originally Posted by Gables Capital Group View Post
    It's an Avg of just over 1.6M per month in funded deals. It ain't that crazy but it's what my firm did as a 5 man shop.
    20M+ last year with a five man shop even at an average of 8pts per advance is actually very doable for each rep to generate 320K in commish each and still doable even if it was still 10pts average and each making 400K. I know first hand and it can even be larger. Many companies cant achieve this type of numbers because they are not efficient enough.
    Roger Resides
    roger@wecompetelenders.com
    85 Broad Street New York NY 10004
    Cl: (646) 876-2556 | Ph: (844) 516-0633 | Fx: (844) 516-0633
    www.wecompetelenders.com

  16. #16
    Quote Originally Posted by WCC_NYC View Post
    20M+ last year with a five man shop even at an average of 8pts per advance is actually very doable for each rep to generate 320K in commish each and still doable even if it was still 10pts average and each making 400K. I know first hand and it can even be larger. Many companies cant achieve this type of numbers because they are not efficient enough.
    We avg'd 13pts according to Sales Force it's a good business I certainly am glad I found it.

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