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05-11-2023, 12:32 PM #1
- Join Date
- May 2023
- Posts
- 3
New iso rep on the block
Hi everyone!
I just started as an ISO rep for a fairly new company. I was reviewing the ISO agreement they have and was wondering what brokers would like to see in it (ex; LG has a great one protecting the ISO). Anything in particular that anyone was having an issue with that would like it the contract to be better protected?
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05-11-2023, 12:58 PM #2
Firstly, it's not your responsibility to do this but being the peopleing person you are, you want to make sure that you can stand behind your Company's word when representing and being true to the funding capabilities you have.
It doesn't matter what the Brokers "like to see" - just use the words *aggressive *competitive and anything more that 12. Sprinkle in that you fund defaults and lie about going out 120 days and you'll get responses.
What does matter is what you have in there to cover your ass (CYA) because all these Broker/ISOs are just looking for new Funder blood to suck. Protect your neck.... aka book. You, as a funder have fiduciary responsibility. Some Brokers could care less.Funding is Temporary. Wu-Tang is Forever.
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05-11-2023, 01:05 PM #3
My gift to you: https://www.theconfidentbroker.com/p...nship-managers
Funding is Temporary. Wu-Tang is Forever.
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05-15-2023, 11:47 AM #4
- Join Date
- Apr 2021
- Posts
- 43
DM me
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05-15-2023, 12:45 PM #5
- Join Date
- May 2023
- Posts
- 3
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05-15-2023, 12:52 PM #6
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05-15-2023, 02:43 PM #7
- Join Date
- May 2023
- Posts
- 3
Just to clarify I have been getting a lot of DM.
We are a funding company, the reason for this post is I have been seeing different agreements and was wondering if this is something that broker shops even care for?
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05-15-2023, 02:48 PM #8
Honesty in all discussions and transactions and you will prevail. Other's will move on.
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.
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05-15-2023, 02:50 PM #9
Yes - Brokers care about how transparent you are as a Company and if your real name is Emily and if you do something other than 2nd position and up funding. If this sounds like you and pay as much as 15% commissions, you're entering a swamp full of the same swamp animals. No one gives a sh*t what you have in your agreement as long as you pay on time and you communicate.
We want to know if you're a white label and the first thing we look for is copy and paste and who you took your guidelines from.
We want to know that there is more than Emily behind the car salesman act of ISO Relations managers (even COOs apparently too). You have two types of Brokers - ones that take their own small business serious and want to build a book of more than just mca and the ones that have been blacklisted and shunned away from the "better" funders so they have to use poor Emily. That's why you're getting the DMs.
Ribbit Ribbit. Show me you're address and I'll show you where your moneys from.
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05-15-2023, 03:09 PM #10
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05-15-2023, 03:11 PM #11
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05-15-2023, 03:11 PM #12
Are you mad because your friends are banned and you can't originate anymore? It's tough for everyone swamp bucket... don't come lashing out when someone says the outlying truth on a Monday. *goes back to taking selfies*
Funding is Temporary. Wu-Tang is Forever.
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05-15-2023, 03:20 PM #13
- Join Date
- Oct 2020
- Location
- Ontario,Canada
- Posts
- 138
I love when you talk dirty ew ya
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05-15-2023, 03:39 PM #14
- Join Date
- Oct 2020
- Location
- Ontario,Canada
- Posts
- 138
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05-15-2023, 03:59 PM #15
- Join Date
- Apr 2017
- Location
- 1301 NJ-36, Bldg#2, Ste#5, Hazlet, Nj, 07730
- Posts
- 143
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05-16-2023, 09:33 AM #16
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