Results 26 to 30 of 30
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01-04-2024, 01:04 PM #26
Full transparency in your funding request will go a long way.
Some funders can do the deal only if it fits to a point of both affordability for the Merchant and profitability for the Funder.
If you are able to obtain the best affordable deal that the Merchant can take, a second position may not be required.
Now, the concern would be in regards to the Merchant offering 100% transparency with you as well. If their expectations are not managed properly, they can be sabotaged and ruin their own business and their relationship with you.
As a broker, you'd have to truly review their statements and see what their actual average revenue is and what funding amount would be suitable for their business.
I've done deals where the broker submits requesting an offer as second position to a recent funding, the offer we give fits our bucket and has the potential to pay full term.
I've done deals where we come in and when I look at it for a possible renewal, they get stacked to the gils after the fact because the "Merchant" got money hungry.
Be upfront with your submission, manage your Merchants expectations the right way, earn their trust all around and you can build your client into a residual income for yourself.Last edited by BR-Nightmare; 01-04-2024 at 01:23 PM.
The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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01-04-2024, 01:08 PM #27
I also apologize for my spat with Dave on your thread
His policing tends to get out of hand for no reason.The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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01-04-2024, 01:13 PM #28
- Join Date
- Jun 2023
- Posts
- 9
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01-04-2024, 02:08 PM #29
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,477
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-12-2024, 12:40 PM #30
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 498
Quikstone Capital Solutions never double dips merchants on renewal.
Typically after 90 days if the advance is paying as expected we will offer renewal (original funding amount). We do not make the merchant payoff the existing balance with proceeds from the new renewal. Instead the merchant will net the full renewal amount and we don't start remitting on it until the original deal is paid in full. This is a huge advantage for the merchants. It also allows the ISO/Broker to keep making commissions on each renewal instead of putting the merchant into a horrible situation with double dipping (fee on top of fee). Quikstone has many merchants who have been funding with us since we opened in 2005.Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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