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  1. #1

    Trying to go out on my own as a new ISO

    For a couple of a months now Iíve noticed the quality of leads I am receiving are 1) Have a MCA default history, 2) industry is in trucking or construction and are now seeking a 3rd or greater position, 3) files are too small Aka in need of micro funding. I also need help trying to find better quality leads (I understand this is the secret sauce) however, I also focus on SBA, Term loans, or equipment financing if it makes sense. I am also finding it hard to obtain proper files for this because the macroeconomic environment has been so rough and we mightíve started working towards one of those products and the merchant will not say to me that they need another MCA in the mean time. Also being on my own Iíve noticed that these large ďAĒ paper lenders donít want anything to do with a startup ISO. Any advice (I know I just through A LOT out there)?!

  2. #2
    Senior Member Reputation points: 33020 Olderguy's Avatar
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    Plenty of lenders will work with start up ISO's. Use a super broker like FundShop for access to the "large" A paper lenders. But for SBA and equipment financing, you need someone experienced to help you as you aren't qualified to handle those by yourself. Reach out if you need help.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  3. #3
    I actually have the SBA, Equipment, and Term loan lenders onboarded. It seems like the "A" paper MCA lenders are the tough ones. I also need help with international Factoring lenders. Lastly, any advice on where I can find qualified dedicated leads?

  4. #4
    Senior Member Reputation points: 33020 Olderguy's Avatar
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    International Factoring Association's website for factoring companies. Post up looking for A paper MCA's and I'm sure some will respond. Same with lead company recommendations...plenty of people here can speak up on that issue as well.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  5. #5
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    You have to generate your own leads to get away from the garbage they try to sellbus these days

  6. #6
    Senior Member Reputation points: 33020 Olderguy's Avatar
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    https://www.funderintel.com/community

    Provider search in here...
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  7. #7
    Senior Member Reputation points: 15568
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    Quote Originally Posted by Ehenek View Post
    I actually have the SBA, Equipment, and Term loan lenders onboarded. It seems like the "A" paper MCA lenders are the tough ones. I also need help with international Factoring lenders. Lastly, any advice on where I can find qualified dedicated leads?
    There are so many funders, and too many that claim they fund A paper but there lowest buy rate is a 1.25(which isn't bad its just not 1.15). You have to keep contacting other funders because many will onboard new brokers and it doesn't sound like you are getting the greatest leads yet anyways.

  8. #8
    @joshbr9 I don't see how you make such an ignorant blanketed claim without having any knowledge of me. I come to the forum to exchange ideas or look for help. You have seem to provide none of the above. I would appreciate it in the future if you kept your opinions on my company and what lenders I have to yourselff.

  9. #9
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    Quote Originally Posted by Ehenek View Post
    @joshbr9 I don't see how you make such an ignorant blanketed claim without having any knowledge of me. I come to the forum to exchange ideas or look for help. You have seem to provide none of the above. I would appreciate it in the future if you kept your opinions on my company and what lenders I have to yourselff.
    dude! take a chill ,re read what you wrote and what he wrote. He is helping you not attacking you

  10. #10
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    My advice to you is to quit or start backdooring files (by claiming your a true true true direct funder when in reality your not)..

  11. #11
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    Quote Originally Posted by Michael I View Post
    dude! take a chill ,re read what you wrote and what he wrote. He is helping you not attacking you
    ha thanks! just read what he wrote and Im like stunned, now is when I should insult but wont.

  12. #12
    Senior Member Reputation points: 15568
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    Quote Originally Posted by Ehenek View Post
    @joshbr9 I don't see how you make such an ignorant blanketed claim without having any knowledge of me. I come to the forum to exchange ideas or look for help. You have seem to provide none of the above. I would appreciate it in the future if you kept your opinions on my company and what lenders I have to yourselff.
    you read wrong, I just repeated what you said about the quality of leads you were getting. Then I said don't trust a funder just cause they claim they are "A" paper.
    You are a new ISO, and you should learn from everyone.

  13. #13
    My apologies. Rough day.

  14. #14
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    Quote Originally Posted by Ehenek View Post
    I actually have the SBA, Equipment, and Term loan lenders onboarded. It seems like the "A" paper MCA lenders are the tough ones. I also need help with international Factoring lenders. Lastly, any advice on where I can find qualified dedicated leads?


    Co-broker some deals and try to have someone make an introduction for you, or you can reach out directly and let these A paper guys know that you have consistent and renewable source of quality deals, (but unfortunately, that's your current problem).

    You're seeing those results with your leads because you're getting the leftovers. You need an earlier look at your leads, before they've been descended on by 10-20 other brokers.

    You need to learn to convert cold merchants into prospects, you need to test more lead providers to find one that matches your sales style and/or business process, or you need to develop some relationships with middlemen like accountants or lawyers, that can give you referrals.


    It'll take time, or it will take a lot of money, or it will be somewhere in between. Keep in mind that while some people will give advice, you're basically asking competitors to help you increase your profits, which may simultaneously reduce theirs. So don't be surprised if everyone isn't jumping out the window to help you.







    www.UccRadar.com - Large volume merchants



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