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08-09-2021, 04:14 PM #1
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08-10-2021, 05:32 PM #2
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These people might have a better model:
https://www.finserveusa.com/broker-network-1-0/
It's not MLM, but it appears to be some sort of "catch and release" type model.
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08-10-2021, 07:47 PM #3
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08-10-2021, 07:57 PM #4
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Straight up:
I’m 100% sold.
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08-10-2021, 09:25 PM #5
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We won't be bringing on anyone that has experience in the industry. They know where to go to get more commission.
Once a Broker learns the ropes - if they want to have a direct relationship with our Vendors and not participate in the over-rides from the Network - we'll help them make that happen and we'll get a point or two . . ." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-11-2021, 05:10 PM #6
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08-12-2021, 06:29 PM #7
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"since our Broker Agreement will prohibit those actions."
You are dealing with Independent Brokers - maybe if they were an "Employee" you could enforce a "Non-Compete"
The Merchant is not married to the broker or the funding company - nor is the Independent Broker married to you.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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08-12-2021, 07:11 PM #8
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08-13-2021, 09:47 AM #9
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08-13-2021, 01:18 PM #10
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" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-13-2021, 10:53 AM #11
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08-13-2021, 01:22 PM #12
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" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-13-2021, 05:27 PM #13
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08-13-2021, 12:42 PM #14
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I know of several Lawyers that make a good living fighting so-called "Non-Competes"
BTW - I bring a merchant to the table - secure the funding (You write the check) - who's customer is it.
Mine or Yours?
IMO - Technically, neither - the merchant can choose to do business with whoever he/she wants.
So we are fighting over what?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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08-13-2021, 01:31 PM #15
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If you bring the Merchant to the table while being part of our Network then that Merchant can't be serviced by that Broker or any 3rd party relationships of that Broker for a period of 2 years after the Broker Agreement is terminated.
That is how it is written up. Will it stand up in Court? In most cases it doesn't even go to Court because of the expense the Broker would have to incur to defend themselves.
Within the Network, we have a vested interest in that Broker and their production since we provided the training, the support and in some cases the "lead" that got the Merchant into the fold.
We don't care if the Broker leaves to do their own thing. They just can't take Merchants or other Brokers with them for 2 years after termination." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-13-2021, 01:33 PM #16
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08-13-2021, 03:52 PM #17
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08-13-2021, 05:34 PM #18
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Are you paying them salary or just 1099 cm ?from what I understand from a legal standpoint it is a big difference
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08-13-2021, 06:02 PM #19
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08-13-2021, 09:22 PM #20
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Seems that this thread in this sub-forum has more replies than any other thread in this sub-forum in over 4 years.
Keep them coming.Last edited by cruisinman; 08-14-2021 at 12:58 PM.
" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-17-2021, 12:55 PM #21
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1.49's seem to be funded many times. If I'm not mistaken, Bittly uses 1.49's the majority of time with early payoff discounts if desired.
" The world has always gone forward when people have dared to have crazy ideas . . . "
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