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  1. #1
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    setting up shop - going back to the industry.

    Hey guys,

    I am looking to set up shop and get back into the MCA/ lending space after a year and 6 months in the insurance industry.

    I used to work for a broker, we used to fund with Yellowstone Cap and OnDeck. what companies are reputable and still funding?

    also, what software do you recommend to start with? and any lead generation ideas?

  2. #2
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    Cartel Advance- we behead the competition

  3. #3
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    Quote Originally Posted by Orlandodls View Post
    what companies are reputable and still funding?
    Plenty, but this a quick generalist list from another thread.

    A-paper:
    OnDeck, Kapitus, Lendini

    B/C-paper:
    Kalamata, Knight Capital Funding, Everest/Vader, Quicksilver, Forward Financing

    D-paper onward:
    Yellowstone, LCF Group, LoanMe

    Credit Lines:
    Idea Financial, BlueVine

    Quote Originally Posted by Orlandodls View Post
    what software do you recommend to start with?
    For CRM:
    Salesforce - High budget, highly customizable

    Zoho - Cost-effective, mediocre customer support

    Pipedrive - Built "for salespeople by salespeople"

    Hubspot - Freemium, may be good to start off with no/low software budget

    Quote Originally Posted by Orlandodls View Post
    any lead generation ideas?
    Organic will always been best if you have ways to direct prospects to your site or to call in. Generally speaking, you can cold call lead lists, do email/SMS marketing, and direct mail campaigns. Obviously other channels are effective as well, affiliates and referrals, for example.
    Last edited by NationalCorporateData; 10-22-2020 at 05:15 PM. Reason: Editing for formatting

  4. #4
    Senior Member Reputation points: 2902 JParr's Avatar
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    www.commercialfinanceacademy.com

    Upon completion of the course we'll get you onboarded with us along with 12+ leading lenders offering a variety of funding products. SBA, factoring, MCA, equipment, real estate, cannabis, etc.

    November class starts in about 3 weeks. Reach out to me for an application.
    Joshua Parrish | SLIM Capital
    (415) 938-4977 | josh@slimcapital.com
    www.slimcapital.com

  5. #5
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    Appreciate the list, thank you very much! what led generation companies are reputable?

  6. #6
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    i would arm yourself with an equipment leasing company as well. really didn't have a big impact during downturn(leasing) and you can build residual income

  7. #7
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    Do you have any solid equipment leasing companies out there?

  8. #8
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    Hey OP (Orlandodls), I would recommend that if your only exposure to the industry is DailyFunder, OnDeck and Yellowstone, then I would recommend that instead of setting up your own shop that you join another shop and learn the ropes. You'll start making money faster and you'll learn a thing or two. Setting up your own shop with limited experience will probably take you 1-2 years to start being profitable as you figure out things. Especially if you're the only cold caller, signing ISO agreements, finding out about new programs, taxes / accounting, closing merchants and the only tech setup and support. You probably don't even have a domain name or website yet. If you want to hire 3 people and/or bring in partners, that makes it even more expensive. If you're not making money right away and you will loose a lot of time.

  9. #9
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    Quote Originally Posted by Orlandodls View Post
    Do you have any solid equipment leasing companies out there?
    Check these out https://www.funderintel.com/equipmentfinancecompanies

  10. #10
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    Hey,

    ClearFund specializes in Micro Deals (2k-25)

    we snap fund same day with minimal stips, no min fico requirement (as we usually never run credit at all) and we look at files doing 5k+ in monthly rev.

    Give us a shot - send us an email at partners@clearfund.co or send your deals to deals@clearfund.co

    Thanks.

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