[Leanne777]

call or email me Leanne@discountmerchantfunding.com (P) 631-438-0584

[PC Cooper]

Any ideas on who would pick up a new iso?
CAN?
Windset?
Fora?
IOU?
Ondeck?
FundingStream?
Rapid?
BFS?

Any ideas on who is a larger lender that I can get on with. I should be able to push 750k in volume monthly because of my book of business.

Give me a call if you'd like and we can talk about your C and D paper

[fundgorilla]

This is an interesting thread with the funders coming out of the woodwork to get the business, and the small ISO insisting that the book of business has been STOLEN, as though they know all the details and have read whatever contract this gentleman signed at the beginning of his previous position. Perhaps he was a partner, and the firm split. Perhaps he had his own particular arrangements. Perhaps those who are strictly insisting that ALL files are their sole possession run 'candy stores' where high employee turnover generates dependable income, and that turnover is planned, intentional. Perhaps this gentleman realized that the contract he signed would hold up in court about as well as the twinkie defense.

[funding pro]

Thanks Rov! I look forward to working with you man. Let me know if there's anything else I can help with.

So Zach, just curious here, when will WBL not work with someone? This guy is clearly saying that he is going to be stealing his book from the previous ISO he was employed at.

[FUNd]

So Zach, just curious here, when will WBL not work with someone? This guy is clearly saying that he is going to be stealing his book from the previous ISO he was employed at.

I'm sorry but where did the OP clearly state this was a stolen book of business? And you do realize this thread is from mid 2015, right?

[KTK]

^ totally agree. Man did this thread run away with itself. Wow

[isaacdstern]

Yellowstone Capital would love to take a look at all your High Risk and other lenders declined files.

800-955-2411

Any ideas on who would pick up a new iso?
CAN?
Windset?
Fora?
IOU?
Ondeck?
FundingStream?
Rapid?
BFS?

Any ideas on who is a larger lender that I can get on with. I should be able to push 750k in volume monthly because of my book of business.

[AndyYSCISOdept]

If you're a new ISO, the odds are you will probably end up with files that are more often than not in Yellowstone's wheelhouse. We are always ready willing and able to assist you in anyway possible.

Give me a call if you need anything or just want some guidance/a sounding board to go over what you've picked up so far.

[mcaguru]

Andy -

I humbly disagree (with love) I find the new ISO's that sign up with Cresthill Capital usually have very clean deals for a few reasons they are NOT lazy and tend to go about things the good old fashion way for example
1) calling merchants cold YES that strategy works! (hello MR smith as abc Liquor would you be interested in working capital? oh you are and boom an App is produced!!).
2)They spend 5000 on mailers and as crazy as we may believe they actually work! (when done right!)...
3) 90% of sales don't happen on the first call so the NEWER ISOS with more drive and time on hands actually follow up on the few leads they have and actually do well...

[FUNd]

1) calling merchants cold YES that strategy works! (hello MR smith as abc Liquor would you be interested in working capital? oh you are and boom an App is produced!!)

Please...

[AndyYSCISOdept]

Andy -

I humbly disagree (with love) I find the new ISO's that sign up with Cresthill Capital usually have very clean deals for a few reasons they are NOT lazy and tend to go about things the good old fashion way for example
1) calling merchants cold YES that strategy works! (hello MR smith as abc Liquor would you be interested in working capital? oh you are and boom an App is produced!!).
2)They spend 5000 on mailers and as crazy as we may believe they actually work! (when done right!)...
3) 90% of sales don't happen on the first call so the NEWER ISOS with more drive and time on hands actually follow up on the few leads they have and actually do well...

I will only partially agree. Let me know if you've found the following experience to happen as well. Like you said above, they ARE NOT LAZY, however because they are so hungry they tend to over promise to merchant and end up painting themselves into a corner and or (sometimes) flat out mislead the merchants to get the signed docs back and upon funding call the underwriter is left to "pull the wool off their eyes".

This can sour a relationship very quickly and in a lot of cases the "better quality" files never make it to that point due to the lack of experience in the sales pitch of said ISO.

This is not always the case but I have quite a few ISOs that started their relationships with my team this way and through trial and error we've come to an understanding and subsequently, a great working relationship

[FUNd]

I will only partially agree. Let me know if you've found the following experience to happen as well. Like you said above, they ARE NOT LAZY, however because they are so hungry they tend to over promise to merchant and end up painting themselves into a corner and or (sometimes) flat out mislead the merchants to get the signed docs back and upon funding call the underwriter is left to "pull the wool off their eyes".

This can sour a relationship very quickly and in a lot of cases the "better quality" files never make it to that point due to the lack of experience in the sales pitch of said ISO.

This is not always the case but I have quite a few ISOs that started their relationships with my team this way and through trial and error we've come to an understanding and subsequently, a great working relationship

Exactly Andy. Anyone can get in quality files when you promise low-rates, long terms, and monthly payments. A lot of new guys get laughed off the phone when they go back to the merchant with cash advance terms after making silly promises to inflate their submission numbers.

[mcaguru]

Please...

I have single individual ISO's that do very well by targeting a specific sector and then cold calling them. (it happens to be that those guys are all NON metro City people --something about City people that cant seem to focus on the cold call game)...But it works they wake up in small town USA and spend 8 hours zoning in on merchants and they laugh all the way to the bank because when they hit Walter Smith from XYZ sawmill industries that does 300K a month and gets a 280K offer his work pays off..its slow and steady wins the race !!

[FUNd]

I have single individual ISO's that do very well by targeting a specific sector and then cold calling them. (it happens to be that those guys are all NON metro City people --something about City people that cant seem to focus on the cold call game)...

Don't tell me about cold calling. I know it well. When was the last time you picked up the phone and dialed all day? Between the offshore call centers in India and the Philippines, robo-dialers capable of 1000 calls per second, and warehouses of fools packed into cubes using dialing software like five-9, merchants are getting upwards of 10 calls per DAY about "working capital". If you have a large team of cold-callers feeding you leads as an individual rep, fine. If you are a salesperson looking to build a book through cold calling alone, it's an almost insurmountable task in today's environment.

[mcaguru]

Don't tell me about cold calling. I know it well. When was the last time you picked up the phone and dialed all day? Between the offshore call centers in India and the Philippines, robo-dialers capable of 1000 calls per second, and warehouses of fools packed into cubes using dialing software like five-9, merchants are getting upwards of 10 calls per DAY about "working capital". If you have a large team of cold-callers feeding you leads as an individual rep, fine. If you are a salesperson looking to build a book through cold calling alone, it's an almost insurmountable task in today's environment.

As i explained in my scenario Walter Smith from XYZ sawmill industries doing 300k a month in Kalkaska Michigan would never take an Indian Call center pitch or a press 1campign but when My ISO calls and speaks to Walters secretary that sounds like Margy from the movie Fargo and they chat about what wood they use in the fireplace for 2 min she then passes the phone to Walter who for the first time hears he can get 300K and when they get off the phone Margy says boy was that man sweet!

[FUNd]

As i explained in my scenario Walter Smith from XYZ sawmill industries doing 300k a month in Kalkaska Michigan would never take an Indian Call center pitch or a press 1campign but when My ISO calls and speaks to Walters secretary that sounds like Margy from the movie Fargo and they chat about what wood they use in the fireplace for 2 min she then passes the phone to Walter who for the first time hears he can get 300K and when they get off the phone Margy says boy was that man sweet!

You're not serious are you? Did Yuliya hack your account or something?

[mcaguru]

You're not serious are you? Did Yuliya hack your account or something?

I am serious as it gets! Anyone at Rapid /Can Capital / BFS will tell you they have onesie twosies ISO's that do 1-3 deals a month for 100K+ per deal that get there business from Cold calling the old fashion way!

[Michael I]

I am serious as it gets! Anyone at Rapid /Can Capital / BFS will tell you they have onesie twosies ISO's that do 1-3 deals a month for 100K+ per deal that get there business from Cold calling the old fashion way!

thats called you being naive and the iso not giving up his true sources

[Chambo]

I am serious as it gets! Anyone at Rapid /Can Capital / BFS will tell you they have onesie twosies ISO's that do 1-3 deals a month for 100K+ per deal that get there business from Cold calling the old fashion way!

you couldn't be more wrong dude. And I KNOW YOU, so don't try to speak like you could close the bathroom door.

The 1-3 deal a month guys are the biggest headache for the A funds.

[anonymous]

Don't tell me about cold calling. I know it well. When was the last time you picked up the phone and dialed all day? ... If you are a salesperson looking to build a book through cold calling alone, it's an almost insurmountable task in today's environment.

disagree

[FUNd]

disagree

That's cool, you don't have to agree, maybe your experience differs. I suppose it's possible to sell dictionaries door-to-door too, but you better have something special. I guess my point is the average newbie off the street will not gain much traction calling randomly asking people if they "need money for their business".

[mcaguru]

you couldn't be more wrong dude. And I KNOW YOU, so don't try to speak like you could close the bathroom door.

The 1-3 deal a month guys are the biggest headache for the A funds.

Chambo you grew up in the space were you were spoon-fed leads for all i know you think a cold call is going outside without your coat and making a call!!

[AndyYSCISOdept]

This reminds me of that part in the movie "HOW HIGH" when Redman explains how he met his buddy.

Redman "He said, 'I need Money!' and I said, Sh*t ME TOO, and we been kickin it ever since."

When you ask questions like, "Does your business need money" The expected answer should and will be "YES" but that's where the conversation normally turns unproductive or those of us calling a name in a phone book.

[bsmith]

This reminds me of that part in the movie "HOW HIGH" when Redman explains how he met his buddy.

Redman "He said, 'I need Money!' and I said, Sh*t ME TOO, and we been kickin it ever since."

When you ask questions like, "Does your business need money" The expected answer should and will be "YES" but that's where the conversation normally turns unproductive or those of us calling a name in a phone book.

The good ol' "Yeah I need money if you're just gunna send it to me"

[anonymous]

I guess my point is the average newbie off the street will not gain much traction calling randomly asking people if they "need money for their business".

agree