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  1. #1
    Senior Member Reputation points: 290 1StopFunding's Avatar
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    ISO's- How Important Is A Dedicated AE?

    I've managed to cultivate a great relationship with a particular AE for one of my funders. The guy is super aggressive and successful with getting manual looks done on deals that the automated system declines.

    A few weeks ago the company transferred my account to a different AE. Nothing personal against her, but she is not as aggressive. I've sent management numerous emails requesting to be changed back to my original guy. My original guy has also spoken to upper management. After being told I'd be switched back, it hasn't happened.

    I'm curious of fellow ISO's, how important an AE relationship to your business? I know a lot of companies don't have dedicated AE's, but some do. Those are the company's I prefer to send my business to.
    Cheryl Tibbs- General Manager
    Equipment LeaseCo Inc
    www.equipmentleaseco.com

  2. #2
    Veteran Reputation points: 134971 Chambo's Avatar
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    Dedicated BD reps are given to ISO's that submit volume. Not really sure how much pull they really have in the UW process though. Their main benefit is that they are there to speak with UW'ing, as you are are not.

  3. #3
    Member Reputation points: 172 SCP's Avatar
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    From my experience dealing with funders that have dedicated AE's vs. a blanket response (underwriting@directfunder.com) I always prefer having an AE to consult with. Even if the AE didn't have much, if any, pull during the UW process, it's great to get a more concise explanation of your declination. Helps educate yourself, your reps, and build a stronger relationship.
    RYAN RIDGWAY Managing Partner, Strategic Capital
    Office: 800.440.6448 | Direct: 816.298.0966 | Fax: 816.298.0857
    10551 Barkley St. Suite 403 Overland Park, KS 66212
    rridgway@capitalwithstrategy.com | www.capitalwithstrategy.com

  4. #4
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    personally I prefer to be able to talk directly to the underwriter.. The banks I have the most success with I deal with the person underwriting the file. It is a lot easier discuss deals when you dont have a middleman having your conversation for you..
    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

  5. #5
    It is extremely important to have a dedicated account manager to train ISos on the funding products, policies, help with pricing or repricing in competitive situations, on site training if required, and to be the key liaison between you the selling agent or ISO and the funding company. It also helps if the manager has sold the funding products before and has experience to share about the industry And competitors to the sales channels they manage and what to look out for in competing offers across diff funders . Also, someone who will help you with commissions new and renewals and fight the daily grind for you day to day. However, if it's someone that is just tossed to you who just started in this business and knows very little, than yes, not very helpful-
    Last edited by MCAVeteran; 08-07-2015 at 12:07 PM. Reason: Add

  6. #6
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    It is very important, you need someone to call and hold responsible if you need something. Wether it's a contract or an offer .
    Now when you have interesting situations. I agree it's better to speak to an underwriter or "credit committee " directly

  7. #7
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by MCAVeteran View Post
    It is extremely important to have a dedicated account manager to train ISos on the funding products, policies, help with pricing or repricing in competitive situations, on site training if required, and to be the key liaison between you the selling agent or ISO and the funding company. It also helps if the manager has sold the funding products before and has experience to share about the industry And competitors to the sales channels they manage and what to look out for in competing offers across diff funders . Also, someone who will help you with commissions new and renewals and fight the daily grind for you day to day. However, if it's someone that is just tossed to you who just started in this business and knows very little, than yes, not very helpful-
    C'mon Ed, seriously? How many of these BD reps out there have actually picked up a phone and closed ONE deal in their lives? You can probably count them on one hand....and still pick your nose

  8. #8
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    Cresthill offers Account Executives that act like "YOUR EMPLOYEE" on our payroll. they can be called as many-times as you wish and act as a conduit between you and our underwriters. They are also on premises 12 hours a day!

    Signup today for 3-4 Hours offers / Double Digit Commissions.
    bizdev@cresthillcapital.com
    Last edited by mcaguru; 08-10-2015 at 10:43 AM.

  9. #9
    Veteran Reputation points: 134971 Chambo's Avatar
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    Clapman never misses an opportunity

  10. #10
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    Quote Originally Posted by Chambo View Post
    Clapman never misses an opportunity
    Chambo I got hungry mouths to feed boats to fuel and cigars to cut

  11. #11
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by mcaguru View Post
    Chambo I got hungry mouths to feed boats to fuel and cigars to cut
    My Boloney has a first name...it's O-S-C-A_R....
    My Baloney has a Second name.....

  12. #12
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    your making to much money to be eating Boloney !! BTW rumor is you like Cholent!
    Last edited by mcaguru; 08-10-2015 at 11:56 AM.

  13. #13
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    Having a good AE is less important than being honest. UWs keep notes of which ISOs lie, omit, and otherwise act shady. A good account rep can make sure things don't fall through the cracks or get a deal UW faster, but nothing can make up for the fact that UW doesn't trust your shop. A manual look from UW will only benefit you if the UW gives you the benefit of the doubt.

  14. #14
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    Quote Originally Posted by CreditGuy View Post
    Having a good AE is less important than being honest. UWs keep notes of which ISOs lie, omit, and otherwise act shady. A good account rep can make sure things don't fall through the cracks or get a deal UW faster, but nothing can make up for the fact that UW doesn't trust your shop. A manual look from UW will only benefit you if the UW gives you the benefit of the doubt.
    As a funder our job is to focus on underwriting the merchants rather then taking (to many) notes on ISO's.
    Last edited by mcaguru; 08-10-2015 at 12:50 PM.

  15. #15
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    As a funder, you should be doing both. As a funder, we do.

  16. #16
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by mcaguru View Post
    As a funder our job is to focus on underwriting the merchants rather then taking (to many) notes on ISO's.
    Any funder that says they honestly don't keep track of which ISO's submit good deals and which submit bad, or who sends all fraud, or who's deals always always back, I have to call Bu**sh*t on.. Every funder does and if they don't then they should think twice if they are in the right business..
    What separates the good shops from the badf is reputation and deal performance. If a bank isn't keeping track it is bad business for them and bad business for me. Whats the point of doing business the right way as I do if banks don't notice???
    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

  17. #17
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by J.Celifarco View Post
    Any funder that says they honestly don't keep track of which ISO's submit good deals and which submit bad, or who sends all fraud, or who's deals always always back, I have to call Bu**sh*t on.. Every funder does and if they don't then they should think twice if they are in the right business..
    What separates the good shops from the badf is reputation and deal performance. If a bank isn't keeping track it is bad business for them and bad business for me. Whats the point of doing business the right way as I do if banks don't notice???

    Not only do they track the ISO....don't be fooled, they track each rep as well....

  18. #18
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by Chambo View Post
    Not only do they track the ISO....don't be fooled, they track each rep as well....
    I agree, and I hope they do.. The only way to weed out the bad is for people to notice what they are doing. I wish they paid more attention.
    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

  19. #19
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    i wrote to many notes !

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