[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

[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]

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.

[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 . . .