New ISO - signing up lenders
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  1. #1

    New ISO - signing up lenders

    Hey y'all,

    First post here but Ive been in the industry for a year now. Opening up a new shop and aside from personal connections to lenders, how would a new iso go about signing up A paper lenders ? As I'm sure many of them would require an extensive track record or good rapport

    Have a few B/C paper lenders in mind but aside from the well-known ones , i.e. Forward, EBF, what do you guys look for when signing up new ISO's ?

    TIA

  2. #2
    Senior Member Reputation points: 13183
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    Quote Originally Posted by abcloser View Post
    Hey y'all,

    First post here but Ive been in the industry for a year now. Opening up a new shop and aside from personal connections to lenders, how would a new iso go about signing up A paper lenders ? As I'm sure many of them would require an extensive track record or good rapport

    Have a few B/C paper lenders in mind but aside from the well-known ones , i.e. Forward, EBF, what do you guys look for when signing up new ISO's ?

    TIA
    Reach out to lenders directly through their website, If you look hard enough, people have posted ISO rep contacts throughout the years that you can reach out to as well. Good luck!

  3. #3
    Banned Reputation points: 573
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    if you need another B/C paper lender send me an email. I can provide fast honest response to your submissions.

    Eugene@equitaadvance.com

  4. #4
    Senior Member Reputation points: 8833
    Join Date
    Aug 2019
    Posts
    163

    With A paper, the most important thing is making a good impression as someone whos honest, and gives them the feeling that you are gonna do good numbers with them. Always better to reach out directly to an ISO rep and say that someone referred you.

    Simon Wein
    CEO- Radiance Funding
    P:516.509.9788
    W: Radiancefunding.com
    E:Simon@radiancefunding.com

  5. #5
    Senior Member Reputation points: 3706
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    I would like the opportunity to fund you B-D paper deals.

    Please call or email me to get boarded and start funding.

    Thank you,
    Paul Boxer
    Merchant Marketplace

    Chief Operating Officer
    Chief Revenue Officer

    Cell: (516) 805-9209
    paul@merchantmarketplace.com
    www.merchantmarketplace.com

  6. #6
    Member Reputation points: 608
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    Mar 2023
    Location
    Miami
    Posts
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    Congrats on the new shop!

    Would love to fund your B-D paper.

    Cash in on our May promotion +2 points for deals over 250k and +1 for deals over 100k. ������


    Moe Braun
    Rocket Capital
    (C)848-318-2598
    (D)786-937-3556
    Moe@rocketcapllc.com

  7. #7
    All the best with your new business. Feel free to reach out to bb@cooperaset.com

    Robert S Bloink
    EVP of ISO Partnerships
    Direct: 248-341-9477
    Email: bb@cooperasset.com
    Web: www.cooperasset.com

  8. #8
    Senior Member Reputation points: 73139 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,278

    If you need help with any SBA Bolt, SBA Express, SBA 7A, SBA 504 - reach out and I'll help.

    Many A paper lenders won't sign up without volume.

    You might contact Splash Advance

    They are a super broker and can submit your files to:

    Fora
    Channel Partners
    OnDeck
    Headway
    Etc...

    They charge 2%.

    Cody Petitte
    Senior Funding Director
    Cell: (561) 945-9753
    Office: (561) 486-9323
    cp@splashadvance.com
    Last edited by Olderguy; 05-12-2023 at 01:38 PM.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  9. #9
    I didnt know that, thanks for the info Steve I'll definitely be sure to check them out. Do they charge 2 pts from the commission ? Do they have a UI that i can interact with to see the status of my file

    Thanks in advance

  10. #10
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    2,278

    Quote Originally Posted by abcloser View Post
    I didnt know that, thanks for the info Steve I'll definitely be sure to check them out. Do they charge 2 pts from the commission ? Do they have a UI that i can interact with to see the status of my file

    Thanks in advance

    Your commission will reflect your total fee...it will vary on the deal. They are good at keeping you posted....I sent an request for update and get it back pretty fast. Samantha over there is on the ball.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  11. #11
    Member Reputation points: 10
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    May 2023
    Location
    985 Ocean Ave Ste 4C, Brooklyn NY 11226
    Posts
    7

    Just a heads up, this is a rough industry for newbies and if you don't have relationships with funders you can get your deals stolen left and right. I would be happy to help you out on your deals, for a cut of course, but I play fair. Lets just say I've been there and done that and don't want to see it happen to anyone else.
    Ari Dahukey
    Account Manager


    Best Connect Capital, Inc.
    (p) 602-338-1769
    (f) 516-740-2830
    https://www.Bccapital.info
    985 Ocean Ave Ste 4C, Brooklyn NY 11226

  12. #12
    Minimum Monthly Rev: 25,000
    Maximum Funding Amount: 1,000,000
    Buy Rate: 1.20 - 1.42
    Maximum Up Sell: 15%
    Minimum Time in Business: 1 Year
    Minimum Average Bank Balance: $1,000
    Minimum Fico: 550
    Expected Terms: 4-12 Months
    Maximum Negative Days: 5
    Minimum Deposits Per Month: 5
    Minimum Ownership %: 51

    *B PAPER ONLY*
    We will mainly offer daily payment options, Weekly are possible but is on a strict deal to deal basis! We Fund Trucking, Construction, Cannabis, Lawyers, Puerto Rico, Restaurants and much more!

    Nicholas Curcio
    O: (888) 425-2825
    C: (631) 942-3364
    E: nicholas@greenbuckcapital.com
    www.greenbuckcapital.com

  13. #13
    Senior Member Reputation points: 52185 ADiamond's Avatar
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    New York City
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    "NEW ISO - SIGNING UP LENDERS" - that's a first....
    Anthony Diamond
    Underwriter

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