Results 1 to 7 of 7
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03-19-2024, 06:05 PM #1
- Join Date
- Feb 2024
- Location
- NY
- Posts
- 77
How to treat merchants in MCA responsibly in one easy & simple step...
You don't have to be brilliant, rich, beautiful or perfect. You just have to care.
357413697_838410510973737_4058314239265915844_n.jpg
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03-19-2024, 06:59 PM #2
Now I know why you got fired by this post, you probably sucked and cared about a 10k trucker that needs money!
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03-20-2024, 06:25 AM #3
- Join Date
- Feb 2024
- Location
- NY
- Posts
- 77
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03-20-2024, 09:15 AM #4
- Join Date
- Feb 2017
- Posts
- 3,411
We are sorry to hear about your brother. The idiot that fired you will probably container to be a jerk and go to his grave like that.
However, we don't work for the merchant. We don't work for the lender or source of funding. I have spoken about this multiple times, but we are not fiduciaries, our goal is to find a relationship that makes sense. You're right giving him a bad deal when you can get better and get paid the same is wrong, however sometimes you might want to get them a middle of a road deal because if you know that there were multiple brokers, someone else will close them first on a worse deal. If somebody is giving them a bad deal, you should be able to beat it with natural capitalism. You are not there father, you are not their CFO. As an independent third party for over, your goal is to enable the relationship to be consummated. That's how we get paid.
If you wanted to truly help the merchant, ask the merchant to pay you $X and don't take any commissions from the lenders
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03-20-2024, 09:26 AM #5
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,943
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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03-20-2024, 09:42 AM #6
Unfortunately broker shops typically don't care what helps the client from a big picure standpoint, they are driven by how much money they can make on a deal. And if lying can close the deal so be it...in most instances it's all about the Benjamins.
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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03-20-2024, 12:43 PM #7
- Join Date
- Nov 2019
- Posts
- 672
If you do the right thing and care about the merchant you will build a good book of business. By doing the right thing and building that book you will take care of yourself and always make money.
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