Didnt want to look like a dumb little dummy so im asking here
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  1. #1

    Didnt want to look like a dumb little dummy so im asking here

    How does the deal bin work , my perception is that once you've exhausted all your lenders you go there , post a brief but descriptive message about your merchant and then someone reaches out .... then... do you form an iso first??. I know this place can be the wild west so I just wanted to clarify how deal bin works. Deal bin just seems like backdoor city with no obligation to pay the broker unless iso agreements are being sent left and right. Just curious.

  2. #2
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    Quote Originally Posted by TheMattTasticVoyage View Post
    How does the deal bin work , my perception is that once you've exhausted all your lenders you go there , post a brief but descriptive message about your merchant and then someone reaches out .... then... do you form an iso first??. I know this place can be the wild west so I just wanted to clarify how deal bin works. Deal bin just seems like backdoor city with no obligation to pay the broker unless iso agreements are being sent left and right. Just curious.
    Best advice: go work for someone. If you are asking questions like this, then its a very low chance that you will be successful in this industry. There are easier ways to make money with a higher chance of success than starting your own ISO w/o experience.

  3. #3
    Hi There - My name is Steve, my company is BizConnect and I’ll keep this quick.

    We are running scalable Lead Generation platforms for a good number of your competitors that are performing VERY well. Our conversion rates are double that of most other lead sources out there.

    I can explain the process in 20 minutes or less and have leads flowing to you and your team within a few days if you like it.

    It works for all financial service businesses including Merchant Cash Advance, Invoice Factoring, Equipment Financing, Hard Money Lending, Residential Mortgage and more…. Basically, for any business that needs Exclusive, Real Time Leads, Clients, Customers, etc.

    If you could find some time this week or next, let’s meet and talk for a few minutes to see if it fits your business – I think you’ll love what we do….
    Here is a link to my Calendar, let me know when you are available:

    https://calendly.com/steve-0412/free...&month=2022-02

    Thanks,
    Steve


    Steve Rosenblum
    Senior Vice President of Sales
    516.383.8407
    steve@bizconnectads.com

  4. #4
    Senior Member Reputation points: 52185 ADiamond's Avatar
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    Quote Originally Posted by TheMattTasticVoyage View Post
    How does the deal bin work , my perception is that once you've exhausted all your lenders you go there , post a brief but descriptive message about your merchant and then someone reaches out .... then... do you form an iso first??. I know this place can be the wild west so I just wanted to clarify how deal bin works. Deal bin just seems like backdoor city with no obligation to pay the broker unless iso agreements are being sent left and right. Just curious.
    Yet you still managed to look like a dumb little dummy.

    LOL kidding, but -

    Should stay away from the deal bin if you are this new to the industry. You should be signed up with a few lenders of every different tier from paper A - D grades and if you exhaust 2-3 of those lenders per tier and still dont have an offer, then stop wasting your time with the deal.
    Anthony Diamond
    Underwriter

  5. #5
    Quote Originally Posted by ADiamond View Post
    Yet you still managed to look like a dumb little dummy.

    LOL kidding, but -

    Should stay away from the deal bin if you are this new to the industry. You should be signed up with a few lenders of every different tier from paper A - D grades and if you exhaust 2-3 of those lenders per tier and still dont have an offer, then stop wasting your time with the deal.
    I appreciate the info.

  6. #6
    Senior Member Reputation points: 22201
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    Quote Originally Posted by TheMattTasticVoyage View Post
    I appreciate the info.
    Lets chat. I have helped countless people since 2002 get started (originally in the merchant service ISO world). Regarding Anthony's advice to work with funders in the A-D Box you should perhaps consider signing up with Capybara Capital -- As we fund A-D paper all-inhouse. From 4-6Months high risk to 12Month super A paper. We are extremally flexible with our terms to help you get the deal closed.
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  7. #7
    Quote Originally Posted by MCA-VET View Post
    Lets chat. I have helped countless people since 2002 get started (originally in the merchant service ISO world). Regarding Anthony's advice to work with funders in the A-D Box you should perhaps consider signing up with Capybara Capital -- As we fund A-D paper all-inhouse. From 4-6Months high risk to 12Month super A paper. We are extremally flexible with our terms to help you get the deal closed.
    We are signed up

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