Setting up with CAN

**stat** · 02-04-2015, 04:17 PM

Hello All,

Ive been trying to sign up as an ISO with CAN and MCC as i need better lenders to send my A paper deals to, and it seems like these lenders love playing hard to get. I signed up on CAN's website, followed up with calls and emails and was told that someone by the name of "Mike" will call me to get set up, that was 3 days ago and i never heard back.

Can anyone point me in the right direction on how to get set up with some A paper lenders.

Thanks in advance.

**mcg168** · 02-04-2015, 04:24 PM

These guys get a ton of inquiries about new ISO's, and for the most part a majority of new ISO's dont work out. CAN is an insanely busy shop, so if you sit back and wait for them to call you, you might be waiting for awhile. I know that a lot of the bigger shops have started to do background checks and some charge fees in order to sign up with them (dont think CAN does this) so they could be going thru that process in the meantime.

I would just call them back and say your following up about becoming an ISO and would probably do that daily until you speak with the right person.

**Sean Cash** · 02-04-2015, 04:24 PM

kalamata capital. click on their ad on the sidebar

**MCAVeteran** · 02-04-2015, 05:37 PM

A lot of their previous regional relationship managers who were there for years are gone now. They are now with swift, tbb, happy rock , etc. You will need to find out who the new relationship manager for your area is and try and reach them more than likely or if it's someone internal at their corporate office.

**stat** · 02-04-2015, 05:40 PM

I heard great good things about Swift's program, are they difficult to partner with?

**mcg168** · 02-04-2015, 05:52 PM

Originally Posted by stat

I heard great good things about Swift's program, are they difficult to partner with?

Swift is great...especially when it comes to 6-9 month programs. Very easy to work with as well. Reach out to David Lynde and he'll get you set right up - David.Lynde@swiftcapital.com

**bizloanbroker** · 02-05-2015, 06:39 AM

took me forever to get set up but they literally are only funding perfect files right now

**stat** · 02-05-2015, 10:05 AM

Originally Posted by bizloanbroker

took me forever to get set up but they literally are only funding perfect files right now

thats what im saying, these lenders all say they want more business but are making it difficult to sign up and send them more business; most don't even return ISO's calls and emails. I have plenty of leads but most of my clients wont take the 1.29 or 1.35, i need more competitive pricing. Staying around the 1.19-1.22 seems to be the sweet spot for 6-9 month deals.

**Sean Cash** · 02-05-2015, 10:20 AM

Originally Posted by mcg168

These guys get a ton of inquiries about new ISO's, and for the most part a majority of new ISO's dont work out. CAN is an insanely busy shop, so if you sit back and wait for them to call you, you might be waiting for awhile. I know that a lot of the bigger shops have started to do background checks and some charge fees in order to sign up with them (dont think CAN does this) so they could be going thru that process in the meantime.

I would just call them back and say your following up about becoming an ISO and would probably do that daily until you speak with the right person.

Yeah I know that CAN is actively engaged in recruiting more business right now. That bad experience might've been a fluke.

**J.Celifarco** · 02-05-2015, 10:25 AM

Originally Posted by stat

thats what im saying, these lenders all say they want more business but are making it difficult to sign up and send them more business; most don't even return ISO's calls and emails. I have plenty of leads but most of my clients wont take the 1.29 or 1.35, i need more competitive pricing. Staying around the 1.19-1.22 seems to be the sweet spot for 6-9 month deals.

Just sent you a PM hopefully that can help

**Mhamill** · 02-17-2015, 08:28 PM

I had the same issue with them, thankfully someone sent me a phone number for one of there iso reps, that was a week ago and Im still not up yet.

**Lloydfinance** · 02-17-2015, 08:57 PM

Can would be a good A paper lender

**cardinalequity** · 02-17-2015, 09:17 PM

They're great but just be prepared to work extra hard for you deals. They give a lot of soft offers that seem amazing and will eventually come through but will put you through hell to close it. Definitely not as fast as OnDeck or some others. They move slow and will stip you to death so if your client is in a rush then Swift is not the lender to go too. Set the proper expectations with your clients. Swift is definitely not an, "I'll fund you in 24 hours lender."

Originally Posted by stat

I heard great good things about Swift's program, are they difficult to partner with?

**LoanGuy** · 02-17-2015, 10:01 PM

can you give me a rough sense of quality of these leads - avg FICO, time in business, industry. Your pricing requirements (~1.20 for 6-9 months) seems reasonable so I wonder if these are especially risky leads. I may have some ideas.

**Synergy13** · 02-18-2015, 12:59 AM

give me a call 9177544566 might be able to work something out. just might work

**jmccready** · 02-18-2015, 04:58 PM

Yeah they are. Did Kevin Duffy pay you a visit last week Sean?

**Sean Cash** · 02-18-2015, 05:24 PM

Originally Posted by jmccready

Yeah they are. Did Kevin Duffy pay you a visit last week Sean?

Hey hey look who it is. I actually didn't see Kevin but I talked to Joe Valeo recently.

How are things going over at Gibraltar?

**Chambo** · 02-18-2015, 06:14 PM

Originally Posted by stat

I heard great good things about Swift's program, are they difficult to partner with?

Swift gives by far the best rates out there, but their net offers tend to be lower than the other funds mentioned here.

**Chambo** · 02-18-2015, 06:15 PM

Originally Posted by sean bash

Yeah I know that CAN is actively engaged in recruiting more business right now. That bad experience might've been a fluke.

Doesn't CAN take over the deal once funded and pays 0-8 on renewals?

**BCC DC** · 02-18-2015, 11:38 PM

Business Credit and Capital is the lender for you. We fund A and B paper and specialize in prompt responses and careful attention to our ISO's. Call Freddy 347-274-0907 Ext 128.

**Sean Cash** · 02-19-2015, 12:07 AM

Originally Posted by BCC DC

Business Credit and Capital is the lender for you. We fund A and B paper and specialize in prompt responses and careful attention to our ISO's. Call Freddy 347-274-0907 Ext 128.

Yup, BCC is a good option too.

**mcg168** · 02-19-2015, 10:12 AM

Originally Posted by Chambo

Swift gives by far the best rates out there, but their net offers tend to be lower than the other funds mentioned here.

Althought Swift offers good rates they are nowhere near 'the best rates out there' And since this is a CAN threat, they rarely compete with CAN's offers.

**jmccready** · 02-19-2015, 10:46 AM

Hey Sean, Things are going well, we are growing the business nicely. Hope you are well. Let me know the next time you are in Chicago

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