[Yankeeman07]

"Our concept and Comp Plan will be a great fit for some and for some, not so much. Brokers are free to leave at any time with the standard non-compete / no-solicitation clauses in the Broker Agreement."

You cannot enforce a so-called "Non-Compete" against a Independent Broker that is bringing you deals

Any 1st year Lawyer would eat your lunch

[cruisinman]

"Our concept and Comp Plan will be a great fit for some and for some, not so much. Brokers are free to leave at any time with the standard non-compete / no-solicitation clauses in the Broker Agreement."

You cannot enforce a so-called "Non-Compete" against a Independent Broker that is bringing you deals

Any 1st year Lawyer would eat your lunch

Untrue . . .

You can restrict a Broker from soliciting existing Clients, Brokers and Funders that the specific Broker did not personally recruit, fund or personally bring to the table. You cannot restrict them from being in business, just from the actions mentioned above.

Have successfully defended these restrictions in the past - just different products / services.

[mca2150]

Untrue . . .

You can restrict a Broker from soliciting existing Clients, Brokers and Funders that the specific Broker did not personally recruit, fund or personally bring to the table. You cannot restrict them from being in business, just from the actions mentioned above.

Have successfully defended these restrictions in the past - just different products / services.

The FTC is going to limit non-competes in the near future due to the recent executive order, so I wouldn't count on them. You can probably prevent them from stealing your merchants, but you can't prevent their relationship with funders. Even if you wanted to, how would you know? The non-compete isn't going to deter anyone.

[Bcooper]

The FTC is going to limit non-competes in the near future due to the recent executive order, so I wouldn't count on them. You can probably prevent them from stealing your merchants, but you can't prevent their relationship with funders. Even if you wanted to, how would you know? The non-compete isn't going to deter anyone.

it'll make great toilet paper tho

[cruisinman]

The FTC is going to limit non-competes in the near future due to the recent executive order, so I wouldn't count on them. You can probably prevent them from stealing your merchants, but you can't prevent their relationship with funders. Even if you wanted to, how would you know? The non-compete isn't going to deter anyone.

Actually, the Agreement can have a clause stating just that. 100% dependable should someone wish to pay the costs until a judgement is received.

[TheUnderwritingProdigy]

Actually, the Agreement can have a clause stating just that. 100% dependable should someone wish to pay the costs until a judgement is received.

you really have no idea how shady this industry is... do you? lol

[cruisinman]

you really have no idea how shady this industry is... do you? lol

I'm learning . . .

Thus, why our Network will have a very defendable Broker Agreement.

[TheUnderwritingProdigy]

I'm learning . . .

Thus, why our Network will have a very defendable Broker Agreement.

[mistamca]

Untrue . . .

You can restrict a Broker from soliciting existing Clients, Brokers and Funders that the specific Broker did not personally recruit, fund or personally bring to the table. You cannot restrict them from being in business, just from the actions mentioned above.

Have successfully defended these restrictions in the past - just different products / services.

As soon as you learn that funders are not your partners & honest funders still employ dishonest people, you will finally begin the MCA journey.

I love my funders. They are absolutely great but they are not perfect, just like I am not perfect. Those relationships took years upon years to build. I started at one shop, went to another, started syndicating in-house, then built my own brand. Guess what? All of this happened because I worked for someone that actually mentored me. I talk to the guy once a week. We co-broker all the time. Guess what? This is not common at all. I can't tell you how many stories I have of stealing, lying, fraud, and everything else. I learned all of this on someone else's dime.

You say you do not have time to learn in a different shop. I would say that you do not have time to grow a MLM while not knowing the ins & outs.

Oh your bank froze your account because you are MCA? What do you do?
Clawbacks for 3 deals in a row? How do make it so cash flow isn't hurt?

I can go on for days about all the problems that ONLY occur in this industry.

While it might sound like people on this thread are "hating" on you, they are all giving very good advice. I straight up have no idea how I would operate in this industry if I did not learn from someone.

NOW SBA loans. The bank actually taught me everything. They gave me training material. They set up training sessions. They let me pick their underwriter's brain. Funders aren't banks though.

[cruisinman]

I love my funders. They are absolutely great but they are not perfect, just like I am not perfect. Those relationships took years upon years to build. I started at one shop, went to another, started syndicating in-house, then built my own brand. Guess what? All of this happened because I worked for someone that actually mentored me. I talk to the guy once a week. We co-broker all the time. Guess what? This is not common at all. I can't tell you how many stories I have of stealing, lying, fraud, and everything else. I learned all of this on someone else's dime.

I, too, am not perfect. But, I am willing to learn. I just have to do it on the fly. I believe that I have also met a mentor like you have.

Only been involved for a few weeks - but, I see some of the stealing, fraud, etc you speak of . . .

Clawbacks for 3 deals in a row? How do make it so cash flow isn't hurt?

All of my current Agreements do not have a claw back or charge back clause.

While it might sound like people on this thread are "hating" on you, they are all giving very good advice. I straight up have no idea how I would operate in this industry if I did not learn from someone.

I have thick skin. I appreciate the legit criticisms. However - some of the peeps are keyboard warriors beating their own drums. I am listening . . .

NOW SBA loans. The bank actually taught me everything. They gave me training material. They set up training sessions. They let me pick their underwriter's brain. Funders aren't banks though.

Haven't really studied the SBA process. But - one of the peeps from this Forum that is giving me advice has that relationship. We will explore SBA further down the road.

Thanks for taking the time to reply Mista . . .