[cruisinman]

Cruisinman, I think we would do much better with the two options that I presented you. MLM on MCA is a hard sell, it needs literally someone who can take over all of the hard work and the end seller is simply data mining and lead gen.

See here:
https://dailyfunder.com/showthread.p...298#post153298
And the youtube link I found that explains what they do.

When I was searching for alternate products / services to add to our quiver - I came across DAC. I had several conversations with David Rutz. They have an awesome Comp Plan. But - their Agent Agreement is too restrictive for us. They are great peeps tho!

[cruisinman]

There are no classes you can take to learn MCA. There is no "partner" that is going to hold your hand and divulge how you can start a profitable business.

Maybe not "classes", but plenty of videos. We actually have a few Partners that are willing to guide us and advise us.

Anyone can start what you're doing and you're right, MCA isn't rocket science. However, the vast majority of people who start in this industry leave because they lose money. Whether it's buying bad leads or trying to fund bad deals. If you don't have someone who has had proven success then you're really rolling the dice.

We won't be buying leads. That is the purpose for the "Network" - to have many, many feet, eyes and ears in the street putting our products / services in front of the businesses.

All deals will first come to our inhouse team for review. If it looks good - we'll match up the business with one of our Funders until we get them a deal that makes sense for everyone.

We're not trying to discourage you from trying, but the advice some of the vets are giving you is something you should pay attention to.

I value all of the positive input from this Forum. Thus, the reasoning why I ask the questions. I have made some awesome connections here and appreciate it . . .

[Bcooper]

All about the repertoire. As he said he is new; he will learn shortly that there is a lot of money to be made above the 1.3s. Doesn't hurt to have an extra funder in the arsenal. Good try though bud

I'm not attempting to dissuade you from trying to get him to sign up with you, I'm just pointing out he's adamant he doesn't want to leave the 1.3s and you are a high-risk lender id personally rather do high-risk 1.49s than a 1.3 any day of the week

[abfunders]

When I was searching for alternate products / services to add to our quiver - I came across DAC. I had several conversations with David Rutz. They have an awesome Comp Plan. But - their Agent Agreement is too restrictive for us. They are great peeps tho!

I wasn't suggesting that you work with David. I was recommending that for it to work, if it works, you need to BECOME David.

[cruisinman]

All about the repertoire. As he said he is new; he will learn shortly that there is a lot of money to be made above the 1.3s. Doesn't hurt to have an extra funder in the arsenal. Good try though bud

MCA money is expensive $$ . . .

Could maybe justify 1.49 on a risky client - but, would have to make sense for everyone. Just don't see us pushing that out - especially short term.

[TheUnderwritingProdigy]

I wasn't suggesting that you work with David. I was recommending that for it to work, if it works, you need to BECOME David.

banned?

[cruisinman]

I wasn't suggesting that you work with David. I was recommending that for it to work, if it works, you need to BECOME David.

Agreed . . .

That's why we decided to hire on an inhouse team to review the deals prior to seeking which Funder may take it.

I appreciate the connections you are introducing me too Micah.

[cruisinman]

I'm not attempting to dissuade you from trying to get him to sign up with you, I'm just pointing out he's adamant he doesn't want to leave the 1.3s and you are a high-risk lender id personally rather do high-risk 1.49s than a 1.3 any day of the week

I hear ya Bcooper. I may have spoke too soon on limiting what we will push.

1.49's sure look good on the syndicating side . . .

[abfunders]

Agreed . . .

That's why we decided to hire on an inhouse team to review the deals prior to seeking which Funder may take it.

I appreciate the connections you are introducing me too Micah.

That in-house team should have industry experience and already know which funders to take these deals to, and can point you in the right direction for funding, at least on the MCA side. Obviously that person should be paid a salary (W2/1099, that's your call, Karen's not here to comment), and perhaps a given % of residuals for helping you out. Then there's the "non-MCA" funding aspect (real estate, factoring, LOCs, equipment finance), which is why us super-brokers exist, but then you're cutting out from the sub-brokers and the MLM aspect.

[fundingsmbs]

broker through broker model doesn't work very well. you are going to want to control the sale, the relationship with customer, and, as you add product services, earn ancillary revenue from those customer's. If you hand off a deal to an ISO or Broker, you earn less, and, dilute your relationship with customer. Stay direct as much as possible and with direct funders as much as possible.

[Akanner]

i'm not a mca veteran but heres what i have been using for last couple of years and they are amazing.

Ondeck
rapid
knight capital
cdg
fox capital
global funding experts
lendini/funding metrics
everest
vital cap
fundworks
lendig valley
total merchant
bhb fudning
river advance
cfg
velocity
legend
fundfi
ysc
lcf
cooper
bitty
gmf (they are broker)
credibly
queen

ufs

irm

[Bcooper]

Maybe not "classes", but plenty of videos. We actually have a few Partners that are willing to guide us and advise us.



We won't be buying leads. That is the purpose for the "Network" - to have many, many feet, eyes and ears in the street putting our products / services in front of the businesses.

All deals will first come to our inhouse team for review. If it looks good - we'll match up the business with one of our Funders until we get them a deal that makes sense for everyone.



I value all of the positive input from this Forum. Thus, the reasoning why I ask the questions. I have made some awesome connections here and appreciate it . . .

there's a reason none of us have street teams and most of us use aliases. this is a dirty industry and when someone loses everything they are going to come to you first. being in person and direct is not the way to be in this industry its not safe and not effective in the long run. its more effective to do ppc and online marketing and have a team of callers. you'll make more money and the likely hood someone shows up pissed off at your office is a lot less.

[KatieBell]

$15k- 1mm

Please email me at info@thorcapitalgroup.com

[cruisinman]

there's a reason none of us have street teams and most of us use aliases. this is a dirty industry and when someone loses everything they are going to come to you first. being in person and direct is not the way to be in this industry its not safe and not effective in the long run. its more effective to do ppc and online marketing and have a team of callers. you'll make more money and the likely hood someone shows up pissed off at your office is a lot less.

Thanks.

[TheUnderwritingProdigy]

there's a reason none of us have street teams and most of us use aliases. this is a dirty industry and when someone loses everything they are going to come to you first. being in person and direct is not the way to be in this industry its not safe and not effective in the long run. its more effective to do ppc and online marketing and have a team of callers. you'll make more money and the likely hood someone shows up pissed off at your office is a lot less.

I remember when this one happened... wildddd

https://www.nbcnewyork.com/news/loca...siness/226059/

[Bcooper]

I remember when this one happened... wildddd

https://www.nbcnewyork.com/news/loca...siness/226059/

SEE WHAT I MEAN thankyou prod

[ben2020]

We offer up to 15 months on A paper MCA submissions and 24 months on Term Loan submissions. Feel free to reach out for additional information.

[cruisinman]

I remember when this one happened... wildddd

https://www.nbcnewyork.com/news/loca...siness/226059/

That was an ex-employee that did that?

[Bcooper]

That was an ex-employee that did that?

yup this isn't like selling a silly product, you will at some point ruin someone's life and business, at some point someone will lose everything, at some point you will cause someone to lose a home and become homeless. this isn't an easy game and it has a **** ton of cons, but the positive is we can make a metric crap ton of money and the ones that use the money the right way genuinely grow their business. that's why most of us use aliases and never meet a merchant in person. this isn't a game you will destroy someone's life eventually it sucks but that's how lending money works not everyone pays it back and they default. do you really want the person who defaults and loses everything to come to pay you an office visit, do you want them to be able to search your family home and visit you while you are eating dinner. I know that sounds like an extreme example but it's the world we live in and if you arent willing to play the game we do, don't enter it you'll just get hurt.

[cruisinman]

yup this isn't like selling a silly product, you will at some point ruin someone's life and business, at some point someone will lose everything, at some point you will cause someone to lose a home and become homeless. this isn't an easy game and it has a **** ton of cons, but the positive is we can make a metric crap ton of money and the ones that use the money the right way genuinely grow their business. that's why most of us use aliases and never meet a merchant in person. this isn't a game you will destroy someone's life eventually it sucks but that's how lending money works not everyone pays it back and they default. do you really want the person who defaults and loses everything to come to pay you an office visit, do you want them to be able to search your family home and visit you while you are eating dinner. I know that sounds like an extreme example but it's the world we live in and if you arent willing to play the game we do, don't enter it you'll just get hurt.

So long as we are 100% transparent on the deal - if everything you said above happens to them - they did it - not us. That's one of my reasons for not wanting to charge 1.29 - 1.39. I can see the 1.499 if it was over 9 to 12 months - but, dang that is expensive.

I was a District Mgr for an area Pay Day Loan company. We had to repossess vehicles quite often. Had to get Judgements on some and wait till they sold their homes, land, etc to get our money.

Also ran high revenue Rent To Own stores. Not something that will ruin someone's life - but did charge 3x on the cost.

[ectorro]

So long as we are 100% transparent on the deal - if everything you said above happens to them - they did it - not us. That's one of my reasons for not wanting to charge 1.29 - 1.39. I can see the 1.499 if it was over 9 to 12 months - but, dang that is expensive.

I was a District Mgr for an area Pay Day Loan company. We had to repossess vehicles quite often. Had to get Judgements on some and wait till they sold their homes, land, etc to get our money.

Also ran high revenue Rent To Own stores. Not something that will ruin someone's life - but did charge 3x on the cost.

Most people that enter the space think MCA rates are "expensive". You need to remember this is America where capitalism's is king and if the merchant can get better rates good for them. But if they quality for a 1.49 that is all they will get. Also I think most merchants would rather get a 1.49 at 6 months than a 1.35 at 4 months.

[G2efunding.com]

When a client says wow "I'm not paying you back 15000 for the 10k - are you crazy?

I say yes and then I say" if I give you $10 k to purchase inventory - and you sell that inventory at 30k even if you pay me 5k for my money you still walk away with $15k you didn't have before without my money" I know it sounds fundamental however sometimes you have to break it down-sell as a concept " ya I never looked at it that way" -- point you don't sell MCA on the interest rate you sell it on the usage of the money - invested proper MCAs are an Awesome tool for IMMEDIATE CASH especially when your CREDIT SUCKS lol

(selling on interest is primarily associated with clients with great creds pursuing the traditional Term Loan)

[cruisinman]

Most people that enter the space think MCA rates are "expensive". You need to remember this is America where capitalism's is king and if the merchant can get better rates good for them. But if they quality for a 1.49 that is all they will get. Also I think most merchants would rather get a 1.49 at 6 months than a 1.35 at 4 months.

I love Capitalism . . .

[cruisinman]

When a client says wow "I'm not paying you back 15000 for the 10k - are you crazy?

I say yes and then I say" if I give you $10 k to purchase inventory - and you sell that inventory at 30k even if you pay me 5k for my money you still walk away with $15k you didn't have before without my money" I know it sounds fundamental however sometimes you have to break it down-sell as a concept " ya I never looked at it that way" -- point you don't sell MCA on the interest rate you sell it on the usage of the money - invested proper MCAs are an Awesome tool for IMMEDIATE CASH especially when your CREDIT SUCKS lol

(selling on interest is primarily associated with clients with great creds pursuing the traditional Term Loan)

Excellent analogy.

Cost -vs- Benefit.

I've been thinking about it the wrong way.

Thanks for the reply.

[danielamradvance]

Hi

We are a High risk in house direct lenders, we have a large experience in the MCA industry.
we fund defaults, consolidations. Very aggressive amounts and rates

Please contact me at daniela@mradvancell.com so I can tell you more about our funding criteria

Daniela G. l ISO Relations
Direct:1(201)-616-6331

Fax:1(315)-758-1743

35-12 SUITE 3-W 19TH AVE,
ASTORIA, NY 11105
Website: www.MrAdvancellc.com