Results 1 to 18 of 18
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05-14-2015, 10:29 AM #1
- Join Date
- Sep 2014
- Posts
- 34
Dropping the hammer!!!!1.24
Certain deals now eligible to fund at 1.24
mfs global's
guaranteed funding program
• any sic
• any fico
• any position
• 14 month deals
• 20% initial commission
• 10% ongoing commission
if you're not funding all your deals with mfs
really?
What are you waiting for?
702-473-1145
submit your deals now
submissions@mfsglobal.com
stay connected
call now 702-473-1145
click here to become an iso
www.mfsglobal.com
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05-14-2015, 10:39 AM #2
- Join Date
- May 2014
- Posts
- 317
1.24 14 month pays 20&10?
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05-14-2015, 12:15 PM #3
- Join Date
- Sep 2014
- Posts
- 34
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05-14-2015, 03:04 PM #4
- Join Date
- May 2014
- Posts
- 317
So you're not making any money and giving it all away to ISO's? 14 month means the A/R trickles back for one thing, secondly at a 1.24 paying out 30% you're already under water and we haven't even factored in your SG&A, Bad debt, and capital costs......seems fishy
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05-14-2015, 03:10 PM #5
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05-14-2015, 03:14 PM #6
Not 20% on the front and 10% on the back.. Its 20% on the first funding and then 10% on each consecutive funding. They release funds every few months and pay on each consecutive advance.. Its a really different product from what most companies offer. Took a while for me to really wrap my head around it still not sure benefits to traditional program where you get full commish on full funding all at once
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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05-14-2015, 03:15 PM #7
- Join Date
- May 2014
- Posts
- 317
20% upfront commission on a 1.24 still makes no sense. Agreed?
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05-14-2015, 03:19 PM #8
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05-14-2015, 03:26 PM #9
yeah but its not a renewal from what i understand if someone is qualified for 100k they will get it paid over a period of time in equal advances paying 20% on the first and 10% on the rest.. Now this is how I understood it, I could be wrong but I think this is the basic workings of the program
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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05-14-2015, 03:28 PM #10
100% thats insane if they were paying it on the full advance but they dont. If someone qualifies for 100k and it is paid in equal advances of 20k they pay 20% on the fist 20k then 10% on the rest. they get the 1.24 on the 100k and the iso commish works out to around the average that everyone else pays. it is just front loaded and paid over time
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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05-14-2015, 03:32 PM #11
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05-14-2015, 03:52 PM #12John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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05-14-2015, 03:54 PM #13
- Join Date
- Jul 2013
- Posts
- 352
These guys give an approval for 20k that is broken up into like 8 fundings of $1500.
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05-14-2015, 07:55 PM #14
Dropping the hammer!!!!1.24
We have funded a few merchants with this structure with decent results. We found it keeps the merchant loyal as they know another batch of cash is around the corner.
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05-14-2015, 09:26 PM #15
- Join Date
- Sep 2014
- Posts
- 720
Dropping the hammer!!!!1.24
20,000/8=2,500
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05-15-2015, 11:11 AM #16
- Join Date
- Jun 2014
- Posts
- 59
I am guessing it means 20% of the factor is commission on the first deal and 10% on the 2nd.
So 24% factor x 20% = 4.8% commission on deal 1
That would be $4,800 on a $100k deal
Renewal would be 2.4% or $2,400 on $100k deal
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05-17-2015, 07:08 AM #17
- Join Date
- May 2015
- Posts
- 4
Good morning MFSDina,
I have been trying to make contact with your company for two weeks, leaving messages and VM's.
Can you please have the person responsible for new ISO relationships reach out to me directly at 305-458-1999.
Thank you for your kind consideration,
Adam
305-458-1999
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05-18-2015, 05:24 PM #18
- Join Date
- May 2015
- Posts
- 1
--Correction--
We approve up to 200% of monthly volume, and disburse the funds in 8 equal installments. We pay 20% on the first installment, and 10% on the remaining 7 installments. Which works out to a higher than industry standard of between 11%-12% Effective Commission.
Any SIC | ANY FICO | ANY POSITION
Our average factor rate ranges from 1.36 - 1.42. Certain deals may qualify for a rate as low as 1.24 which will fall under our “Buy Rate” Program.
Buy Rate Program
Factor as low as 1.24
Commission - We will double your initial commission on the first installment.
Example: If you upsell by 8 points, your initial commission will be paid at 16 points and the remaining 7 installments paid at 8 points.
Qualifications
ANY SIC
ANY FICO
1st Position
15k Minimum per month
10 Deposits per month
No more than 3 Negative Days per month
Length of Ownership 1 Year
No open Bankruptcy or Liens