Results 1 to 25 of 89
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02-04-2015, 03:10 PM #1
- Join Date
- Jun 2013
- Posts
- 195
WBL Acquires New York City ISO!
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02-04-2015, 03:14 PM #2
Wow, that's actually pretty big news
"Billy Morrissey, the founder and CEO of Merchant Solutions Group, has joined WBL as Vice President and will lead a sales operation based at WBL's headquarters in midtown Manhattan. Seventeen former employees of MSG have moved with Morrissey to WBL to form the core of a new sales group managed by Morrissey."
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02-04-2015, 03:26 PM #3
- Join Date
- Jun 2013
- Posts
- 195
We are very excited to have Billy part of the team, and look forward to the future!
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02-04-2015, 03:30 PM #4
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02-04-2015, 03:40 PM #5
I assume all of these buy outs are 7 figure deals. Very aggressive moves by WBL. Congrats to all the parties involved
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02-04-2015, 03:40 PM #6
- Join Date
- Dec 2013
- Posts
- 4,713
the Number of acquired ISO's keeps going up! Very smart move on Billy. its only time you're going to be staring out of the Jetblue window at JFK and you're going to see a corporate jet with the WBL LOGO.
its pretty clear WBL is going to be the leader in our space. I would suggest ISO -Brokerage houses reach out to them.Last edited by mcaguru; 02-04-2015 at 03:47 PM.
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02-04-2015, 03:48 PM #7
- Join Date
- Jun 2013
- Posts
- 195
To date, we have completed 4 acquisitions.
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02-04-2015, 04:03 PM #8
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02-04-2015, 04:52 PM #9
Congratulations to both parties... Sounds like it will be mutually profitable!
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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02-04-2015, 04:52 PM #10
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
I heard it's next to impossible to fund WBL deals because they charge 1.49 factors plus require the merchant's house and vehicles as collateral plus charge 10% processing fees. How do they manage??
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02-04-2015, 05:05 PM #11
- Join Date
- Jun 2013
- Posts
- 195
MCNetwork, actually we have factor rates down to 1.09, we only charge a $575 processing fee and have reduced our approval and funding times substantially over the last 45 days. Please give me a call at 212-293-8210 or e-mail me at cpepe@wbl.com to discuss.
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02-04-2015, 05:17 PM #12
- Join Date
- Aug 2014
- Posts
- 109
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02-04-2015, 05:23 PM #13
- Join Date
- Dec 2013
- Posts
- 4,713
More and more of Cresthill Capital's ISO's say they fund with WBL.
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02-04-2015, 05:35 PM #14
- Join Date
- Jun 2013
- Posts
- 195
Paperchaser, you have the ability to make up to 8 points on most deals.
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02-04-2015, 05:39 PM #15
- Join Date
- Aug 2014
- Posts
- 109
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02-04-2015, 07:47 PM #16
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02-05-2015, 05:51 AM #17
- Join Date
- Jul 2014
- Posts
- 128
WBL Acquires New York City ISO!
WBL is the worst! Their inside reps know nothing. The underwriting process takes forever and they constantly do the bait and switch offering a BLOC or true loan product, but in the end deliver a MCA that is asset backed.
Complete joke!
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02-05-2015, 06:40 AM #18
- Join Date
- Jun 2014
- Posts
- 195
Congratulations Chris-looks like you guys are on your way to buying every solid ISO out there
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02-05-2015, 08:24 AM #19
- Join Date
- May 2014
- Posts
- 317
WBL has a nice model for the right ISO's. They offer a % of ownership into the their company which they value into the 9 figures already. So from my understanding there is no money exchange, only equity. Again, really nice deal for the right ISO's. Congrats to both parties. Billy is a hustler and should do well leading Sales.
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02-05-2015, 09:32 AM #20
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
No money exchange?? Only equity? Seems like a lot of downside and very little tangible upside.
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02-05-2015, 12:10 PM #21
- Join Date
- Feb 2015
- Posts
- 3
I want to thank everyone for the congratulations. It means alot to me. After speaking with numerous companies about merging WBL was the only logical choice. The support they have offered me and my staff is everything I could ask for. Becoming part of the leadership team they have here really has me motivated like I havent been since I first started in our wonderful industry .I look forward to taking WBL to the next level. I have seen some negative comments about WBL and the product that we sell. Yes I have been in the same boat as you. They have made many changes to the product like lowering the cost of the money and underwriting criterias. If anyone has questions and would like help on selling our product please feel free to contact me. There is more money in selling this product than any other in our industry. Yes it takes more work and more time to fund the deal but like I said the payout is much more. We are looking to form the strongest group in the MCA space with a team of winners. If any ISO is interested in finding out what WBL can offer you to merge with us please contact me. It will be the smartest move you will ever make.
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02-05-2015, 01:33 PM #22
Congratulations to the guys over at MSG! We are excited to work with you moving forward.
Core Financial is also in the process of being acquired by WBL; as the Godfather might say, they made us an offer we cannot refuse!
I highly recommend ISO's consider the opportunity and take advantage of WBL's offer. It's a no-brainer.
If anyone wants to hear my side of the story, you can easily reach me using the contact info below.Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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02-05-2015, 02:12 PM #23
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02-05-2015, 02:19 PM #24
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.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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02-05-2015, 03:26 PM #25
- Join Date
- Dec 2013
- Posts
- 4,713
Zack that's great news! if i was a betting man in no-time you'll be the face of WBL-WEST
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