[Franklin]

We are wanting to be different and not offer anything over 1.39 with 1.30 being the average MCA deal. Target 4 to 6 month deals - maybe up to 12 months for those that qualify.

This isn't cheap money - but, peeps need it for various reasons. We just have to find those peeps.

Like I told my Reps at a few Funders - for our Network, this will either be a Hero or a Zero. We'll just have to see. But - this industry can make the right people a Million $$ with a few years of hard work and Team building.

Micah has been helpful by suggesting other products / services need to be in our quiver to make sure our Brokers are in a good position to close various deals.

The average deal in this space is 1.38. If you're targeting 1.30s, that means you're basically targeting the 1.26-28s, which is better paper in general, and as BB mentioned, they're harder to close AND harder to find. The better the credit of the merchant, the more in denial they are about why their only option is expensive short term money, because their credit is just good enough to not be good enough for traditional retail lending options that they all would prefer.

It's smart to offer funding on the side of your main offerings, it takes the pressure away of prospecting solely for mca. The question would be how big is this alternative product network and is it growing, because if it isn't the mca part will be more of a side income and not really a buildable business, because there won't be a growth strategy.












www.UccRadar.com

[TheUnderwritingProdigy]

[cruisinman]

The average deal in this space is 1.38. If you're targeting 1.30s, that means you're basically targeting the 1.26-28s, which is better paper in general, and as BB mentioned, they're harder to close AND harder to find. The better the credit of the merchant, the more in denial they are about why their only option is expensive short term money, because their credit is just good enough to not be good enough for traditional retail lending options that they all would prefer.

On the MCA side we want to be in the 1.25 - 1.39 range. On the lower side - we'll trim our Commission % to get the deal done. Hoping that future Renewals will feed us . . .

I understand that on the biz denial. that is something we'll have to overcome as an objective. We are going to have many Training Classes before we launch.

It's smart to offer funding on the side of your main offerings, it takes the pressure away of prospecting solely for mca. The question would be how big is this alternative product network and is it growing, because if it isn't the mca part will be more of a side income and not really a buildable business, because there won't be a growth strategy.

In addition to our other products / services, I'm not quite sure what the additional options are as of today on the Advance / Loan side. I'm in talks with a few industry vets from this forum who are willing to make those connections for us . . .

[Bcooper]

On the MCA side we want to be in the 1.25 - 1.39 range. On the lower side - we'll trim our Commission % to get the deal done. Hoping that future Renewals will feed us . . .

I understand that on the biz denial. that is something we'll have to overcome as an objective. We are going to have many Training Classes before we launch.



In addition to our other products / services, I'm not quite sure what the additional options are as of today on the Advance / Loan side. I'm in talks with a few industry vets from this forum who are willing to make those connections for us . . .

even if you follow that strategy of cutting points how are you going to handle when a merch wants more than one position, or on renewal doesn't get a rate decrease ect what no one has mentioned on any post here is that people who use mcas continue to use mcas, once a user always a user. the rate doesn't matter 9 times out of ten they are going to refi at 50%, stack the position or get a consolidation of some kind its a cycle and the second you bring them into this space you will be competing with someone like me who is more than willing to offer more positions at higher rates without cutting a penny on commission, and will continue offering positions and rcs as the hb allows it.this is an industry full of sharks and if you arent at a minimum a great white stalking in the depths you will fail epically. the name of this game isnt offering someone a good deal its building the relationship because the merchant will want more money and if you didnt build that relationship no matter how good that first deal is they will get a smooth talker who will give them a 1.49 and stack them 5 times until they need an rc and rinse and repeat. if you arent willing to do that you will lose every merchant you bring in within 3 months sorry to break it to ya.

[cruisinman]

even if you follow that strategy of cutting points how are you going to handle when a merch wants more than one position, or on renewal doesn't get a rate decrease ect what no one has mentioned on any post here is that people who use mcas continue to use mcas, once a user always a user. the rate doesn't matter 9 times out of ten they are going to refi at 50%, stack the position or get a consolidation of some kind its a cycle and the second you bring them into this space you will be competing with someone like me who is more than willing to offer more positions at higher rates without cutting a penny on commission, and will continue offering positions and rcs as the hb allows it.this is an industry full of sharks and if you arent at a minimum a great white stalking in the depths you will fail epically. the name of this game isnt offering someone a good deal its building the relationship because the merchant will want more money and if you didnt build that relationship no matter how good that first deal is they will get a smooth talker who will give them a 1.49 and stack them 5 times until they need an rc and rinse and repeat. if you arent willing to do that you will lose every merchant you bring in within 3 months sorry to break it to ya.

Thanks for the advice. This type of reply is what I need.

It's good to know that the clients continue to be clients.

I agree with you on building the relationship.

We have a lot to learn. I am in "sponge mode" - soaking it all up.

[Bcooper]

Thanks for the advice. This type of reply is what I need.

It's good to know that the clients continue to be clients.

I agree with you on building the relationship.

We have a lot to learn. I am in "sponge mode" - soaking it all up.

they arent clients they are merchants and just because they take money doesn't mean they are taking it from you, and based off what i have seen you have absolutely no chance against any of the veterans here doesn't matter if we are 10-20% higher we will outcompete you every time your backdoor is going to wide open within a month and you'll be out of business in three. you need to go work at an existing shop and learn how we operate because right now we are going to strangle you out of the industry very quickly because you have no idea how to compete with us.