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  1. #1

    Best Renewals in the Biz?

    Auto deposits, no chasing?
    go!

  2. #2
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    We've heard good things about Knight, Forward Financing, and Snap processing renewals and paying commission when a merchant goes direct.

  3. #3
    Senior Member Reputation points: 337045
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    Quote Originally Posted by dailyfunderppt View Post
    Auto deposits, no chasing?
    go!
    The key is to working with institutions that offer superior products and services that make great customer relationships. Don't focus on winning deals.....win customers. In performing due diligence on institutions one should always ask what the longevity is of customer relationships. Ours is in excess of 3 years which is far and above industry standard. Most facilities we provide have a 12 month term and most customers chose to renew with us because of the services we provide, flexibility, and we are very cost effective.

    Our referral agreements pay referral fees for the life of the client. That being said, I have referral sources that are enjoying their commissions on clients we won 5 years ago on 12 month terms.

    Never confuse a cheaper rate for the client with less referral fees. If you work with institutions that have a low cost of capital and superior services you tend to win more clients and those relationships are sticky. The low cost of funds also creates more spread on deals which in turn equals more referral fees. Some will gravitate to always making the fast, easy commission. Do not to step over dollars to pick up pennies.


    Best,

    Kevin
    Hedley Lamarr......That's Hedley

  4. #4
    Senior Member Reputation points: 69645
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    Quote Originally Posted by NationalCorporateData View Post
    We've heard good things about Knight, Forward Financing, and Snap processing renewals and paying commission when a merchant goes direct.
    Thats how we do it, and how all funding companies should.
    Thank you,

    Lior Monus
    Business Development Manager
    CFG Merchant Solutions


    Direct: (646) 880-6764
    Cell: (516) 319-5826
    Fax: (646) 278-7322
    Lmonus@cfgms.com
    180 Maiden Lane New York, NY 10038

    www.cfgmerchantsolutions.com

  5. #5
    Senior Member Reputation points: 14091
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    Quote Originally Posted by Lmonus View Post
    Thats how we do it, and how all funding companies should.
    Agreed. Automatically paying a commission on a renewal is a great way to show trust.

    Not paying a commission on renewal whether funder solicit or if merchant calls in is a great way to have a broker never send you another deal.

  6. #6
    Senior Member Reputation points: 8447
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    Tampa Florida
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    We always pay on renewals even if we handle it internally. We never double dip the merchant.
    Jason H l Sales & Business Development
    Quikstone Capital Solutions l Tampa FL
    Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
    Jason.Hausle@quikstonecapital.com
    www.quikstonecapital.com


    Direct Lender Since 2005

  7. #7
    Senior Member Reputation points: 3706
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    Jan 2017
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    We have a stellar reputation with making sure we protect our ISO renewals. I would be happy to help you.
    Paul Boxer
    Merchant Marketplace

    Chief Operating Officer
    Chief Revenue Officer

    Cell: (516) 805-9209
    paul@merchantmarketplace.com
    www.merchantmarketplace.com

  8. #8
    Senior Member Reputation points: 30747
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    Quote Originally Posted by dailyfunderppt View Post
    Auto deposits, no chasing?
    go!
    Depends on who you ask, and from what perspective.

    You ask me, and I would tell you from my own historical personal dealings with various MCA's, it's Paypal all day.

  9. #9
    Senior Member Reputation points: 6544
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    Dec 2018
    Location
    48 Wall St. New York, NY 10005
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    Our ISO partner's are paid full commish (same as original deal) on renewals, whether the ISO or merchant reaches out.
    Jeff Pecori
    Business Development & ISO Relations

    VitalCap Fund | 48 Wall St. | New York, NY 10005
    P. 850.630.7509 Ext.101 | F. 646.219.7949
    jeff@vitalcapfund.com

  10. #10
    Senior Member Reputation points: 43599 brokerCompany's Avatar
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    CALIFORNIA
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    National Funding. I get renewals paid easy. No chasing no worries

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