[Zach]

Yes, we are given full autonomy of our branch with every other respect. There are very few "rules" that they put in place. It will still feel and operate like it was under our ownership, and we will not be forced to sell only WBL's product line.

[mcaguru]

Zack that's great news! if i was a betting man in no-time you'll be the face of WBL-WEST

[Zach]

Zack that's great news! if i was a betting man in no-time you'll be the face of WBL-WEST

Well, I'm sure they would put someone far more experienced than I in that position... but I can tell you I will work hard to try and obtain that honor

[Fly]

No money exchanged in the acquisition and a longshot at equity that might be worth something in the distant future? Sounds like a sucker deal for the ISOs. Only way this makes sense for the ISOs is if their sales are declining and they are close to their way out. Let's face it, WBL is no Ondeck or Can Capital. Not even close, however they want to fabricate their valuation.

[billymsg]

Thanks Zack I look forward to work with you also. Some of these negative comments on here we get to use as our motivation to get WBL to where we want it to be.

[MechantLoans]

Wait, isn't the CEO of WBL Doug Naidus? If so, then my advice is to sleep with one eye open guys, just do some searches on him, he did wonderful things before the mortgage crisis....http://www.futureofcapitalism.com/20...-deutsche-bank

[DJarvis]

This is big, the excitement is here. Billy's team is on point. WBL synergized with MSG is the big one. Everybody better contact Billy and get in now. History in the making.

[MCNetwork]

I heard Billy is no longer at WBL. If this is true, things seem to be unraveling quickly over there! ISOs acquired and the previous owners being kicked out in record speed! Can anyone confirm?

[isaacdstern]

I heard the same

[billymsg]

Not true Isaac .... WBL has been very helpful with the transition.... Just had a few reps not able to adjust ...we are the biggest branch here since we started and things are as good as can be

[isaacdstern]

That's awesome to hear, you know how the rumor mill is in MCA....worse than a bunch of high school girls

[Funder Mark]

Now thats just being mean to high school girls...

[MCALenders]

He might still be there but let me tell you what I do know for a fact. He has about 20 angry investors holding promisory notes worth about $7.6 million. On average investors got 20% of their principal. He bounced numerous checks. Hired a lawyer to negotiate a payback. Did not pay bulk of investors for 90 days. Then missed the payment date and asked for a month extension. Has not been answering calls and emails from investors.

[Zach]

My acquisition completed today as well. Excited for the coming years.

[omegafund]

What did they offer you.

[fundgorilla]

What did they offer you.

Yeah - enquiring minds want to know!

[MCNetwork]

He might still be there but let me tell you what I do know for a fact. He has about 20 angry investors holding promisory notes worth about $7.6 million. On average investors got 20% of their principal. He bounced numerous checks. Hired a lawyer to negotiate a payback. Did not pay bulk of investors for 90 days. Then missed the payment date and asked for a month extension. Has not been answering calls and emails from investors.

This is how the Madoff scheme started to fall apart...

[Zach]

I can't offer specifics on the deal, but let me tell you, I put my life savings and my entire life into this business... I wouldn't have sold if it wasn't one hell of a deal. They are looking to acquire many, many more shops... say the word and I can arrange an introduction.

[Paperchaser]

I can't offer specifics on the deal, but let me tell you, I put my life savings and my entire life into this business... I wouldn't have sold if it wasn't one hell of a deal. They are looking to acquire many, many more shops... say the word and I can arrange an introduction.

if wut u got is just stock you got had

[J.Celifarco]

I can't offer specifics on the deal, but let me tell you, I put my life savings and my entire life into this business... I wouldn't have sold if it wasn't one hell of a deal. They are looking to acquire many, many more shops... say the word and I can arrange an introduction.

good luck.. Hope this was the right decision for uyou

[Drizzle]

It's more barter than a sale. When you sell something you receive currency or money. WBL is using barter to pile together ISO shops by trading useless future stock options for the ISO shop. Try paying your mortgage with WBL stock. What's their symbol?? Oh yeah, they don't have one.

[Paperchaser]

It's more barter than a sale. When you sell something you receive currency or money. WBL is using barter to pile together ISO shops by trading useless future stock options for the ISO shop. Try paying your mortgage with WBL stock. What's their symbol?? Oh yeah, they don't have one.

lmao spot on

[MCAVeteran]

Is the rush to sell your ISO simply on the promise they will go public or be acquired in 3 years and you share in that pot of gold? What do you get immediately from the sale? Rent paid? Office staff paid? Leads paid for? You mentioned you can send deals to any funder so wbl isn't funding all the business? Do they collect a large percentage of what your office produces per month? I assume they have to obtain something if they are giving you immediate financing help with office. What happens in 3 years if no sale or IPO occurs?

It's an interesting model for them to buy retail and show they have assets to investors but there seems to be a lot of variables in the deal.

[Jared_Weitz]

Is the rush to sell your ISO simply on the promise they will go public or be acquired in 3 years and you share in that pot of gold? What do you get immediately from the sale? Rent paid? Office staff paid? Leads paid for? You mentioned you can send deals to any funder so wbl isn't funding all the business? Do they collect a large percentage of what your office produces per month? I assume they have to obtain something if they are giving you immediate financing help with office. What happens in 3 years if no sale or IPO occurs?

It's an interesting model for them to buy retail and show they have assets to investors but there seems to be a lot of variables in the deal.

Last I heard you give up a % of your ISO. For this example let's say 50%. So now WBL owns 50% of your ISO and you took the value of that 50% and rolled it into their 100+ million dollar company valuation (their own valuation). the benefits they propose is that they give you in house special pricing if you send them first looks, office space if need be at their office if you're in NY already, and like that was it last I heard. Maybe something changed. I think for the right ISO's its ok, def not a deal for all of us in my opinion.

[Zach]

Last I heard you give up a % of your ISO. For this example let's say 50%. So now WBL owns 50% of your ISO and you took the value of that 50% and rolled it into their 100+ million dollar company valuation (their own valuation). the benefits they propose is that they give you in house special pricing if you send them first looks, office space if need be at their office if you're in NY already, and like that was it last I heard. Maybe something changed. I think for the right ISO's its ok, def not a deal for all of us in my opinion.

Jared, the person that told you that was 100% incorrect; perhaps they misunderstood how it works.