Results 26 to 35 of 35
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05-26-2021, 06:31 AM #26
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,959
An ISO that generates his/her own leads, secures the proper paperwork, closes the deal - deserves more than 25% of their commission.
IMO - What an ISO should be doing is providing good deals to their funder - NO STACKING - NO MAX OFFERS
Why does the business owner need these expensive funds? What is his/her business plan, how will these funds increase their profits.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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05-26-2021, 08:47 AM #27
- Join Date
- Nov 2018
- Posts
- 30
i agree that having a clawback policy is dumb only because i dont do that and ill simply get more business from the competition. That being said, you guys have a horrible track record with me, pretty sure i lost money on you guys. I wonder if you say "sorry not sorry" after you triple fund the merchant, put him on a reverse then ship him off to a debt collector.
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05-26-2021, 09:08 AM #28
- Join Date
- Feb 2018
- Posts
- 1,349
How about the DOJ clawbacks for non existent business
https://www.propublica.org/article/ppp-farms
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05-26-2021, 09:10 AM #29
- Join Date
- Dec 2016
- Posts
- 379
So you're suggesting 25 points to the ISO? Us as the funder has all the risk, a massive amount of skin in the deal, and we still have to account for defaults, overhead, employee salary (since our employees aren't on commission), etc.. That would mean that on any given deal, the ISO stands to make WAY more money than the funder, which is completely ridiculous given how little skin they have in the game.
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05-26-2021, 09:12 AM #30
- Join Date
- Feb 2018
- Posts
- 1,349
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05-26-2021, 09:34 AM #31
- Join Date
- Dec 2016
- Posts
- 379
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05-26-2021, 09:37 AM #32
- Join Date
- Feb 2018
- Posts
- 1,349
25 points is ridiculous. the average upsell is around 8 points if you blend it all together. most offer up to 12 points and some go higher. it's so funny how these funder's blast you with emails about how they can fund 1-5th , pay you bonus', and stack all the first positions , than, when deals go bad, they sue? what could go wrong. Did your ISO manager actually filter who they let in?
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05-26-2021, 10:40 AM #33
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,959
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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05-26-2021, 12:05 PM #34
- Join Date
- Apr 2015
- Posts
- 159
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05-26-2021, 12:35 PM #35
- Join Date
- Feb 2018
- Posts
- 1,349
Most funders cutback on renewals. CAN was notorious in paying less on renewals. The industry voiced the reason is the first funding is a loss leader and the renewals is how they make profits. I believe the upfront/resid model was changed once ODC entered the space. Then, others followed. In the leasing space, that's how they pay, all upfront same day a lease funds.
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