[jotucker1983]

What I have always done is price deals based on the risk category they fall in, that's why my commission ranges 2% - 5%.

It's not about selling the lowest rate, that's not my focus, I sell an entire working capital solution which includes the fact that (most of the time) we can help build their business credit, the fact that our product works "similar" to a line of credit with the way the reload procedure works, and the growth aspects of using our capital in terms of the investment components.

In terms of lender placement, I'm going to do pre-qualification on the client and A+ Paper goes to an A+ Paper Lender, A Paper goes to an A Paper Lender, B/C Paper goes to the B/C Paper Lender, and C/D Paper goes to the C/D Paper Lender. E Paper I don't entertain.

Sure, I could take the A Paper and send him to the B/C lender, so instead of making 2% - 5%, I could pull about 8% - 10% due to the mark-up. But is that putting my client first or is that putting John Tucker first? To be honest with you guys, I love seeing competitors do this because it becomes that much easier for me to steal the client away lol.

I don't believe a guy that qualifies for a A+ deal should be placed at a C/D Lender (or priced at C/D Lender pricing) just so you can make 10% - 15% commission. But that's just how I operate.

[J.Celifarco]

What I have always done is price deals based on the risk category they fall in, that's why my commission ranges 2% - 5%.

It's not about selling the lowest rate, that's not my focus, I sell an entire working capital solution which includes the fact that (most of the time) we can help build their business credit, the fact that our product works "similar" to a line of credit with the way the reload procedure works, and the growth aspects of using our capital in terms of the investment components.

In terms of lender placement, I'm going to do pre-qualification on the client and A+ Paper goes to an A+ Paper Lender, A Paper goes to an A Paper Lender, B/C Paper goes to the B/C Paper Lender, and C/D Paper goes to the C/D Paper Lender. E Paper I don't entertain.

Sure, I could take the A Paper and send him to the B/C lender, so instead of making 2% - 5%, I could pull about 8% - 10% due to the mark-up. But is that putting my client first or is that putting John Tucker first? To be honest with you guys, I love seeing competitors do this because it becomes that much easier for me to steal the client away lol.

I don't believe a guy that qualifies for a A+ deal should be placed at a C/D Lender (or priced at C/D Lender pricing) just so you can make 10% - 15% commission. But that's just how I operate.

well that depends on what you consider an "A" lender there are lenders I consider a A lender where you can still make 8-12 points or more

[FUNd]

What I have always done is price deals based on the risk category they fall in, that's why my commission ranges 2% - 5%.

It's not about selling the lowest rate, that's not my focus, I sell an entire working capital solution which includes the fact that (most of the time) we can help build their business credit, the fact that our product works "similar" to a line of credit with the way the reload procedure works, and the growth aspects of using our capital in terms of the investment components.

In terms of lender placement, I'm going to do pre-qualification on the client and A+ Paper goes to an A+ Paper Lender, A Paper goes to an A Paper Lender, B/C Paper goes to the B/C Paper Lender, and C/D Paper goes to the C/D Paper Lender. E Paper I don't entertain.

Sure, I could take the A Paper and send him to the B/C lender, so instead of making 2% - 5%, I could pull about 8% - 10% due to the mark-up. But is that putting my client first or is that putting John Tucker first? To be honest with you guys, I love seeing competitors do this because it becomes that much easier for me to steal the client away lol.

I don't believe a guy that qualifies for a A+ deal should be placed at a C/D Lender (or priced at C/D Lender pricing) just so you can make 10% - 15% commission. But that's just how I operate.

John, I understand why you can charge 5 points and make a living, you don't split your take with the house. You are the house. When you're another kid in a call center with a 2K draw making 10%, you need to charge 20 points to scratch out a commission check. Sounds like you're actually a consultant and not an order taker or another predatory bottom-feeder looking to mop up every last dime of someone's monthly deposits.

No need to justify yourself. MCA is about 25% of my business, and some of the bank statements I see that have outstanding advances, horrendous. Sad, really. Deposits of $75K and ending balances of $6.75. Some lenders in the space have no problem jeopardizing someone's company, their employees, and their families to make "20 points".

Personally, I'd rather eat out of a trash can, than lie, cheat, steal, and put people out of business. But then again, I think I may be the black sheep of the MCA biz, too.

[AlexSMF]

I have to agree with Alex.. These are not stupid guys, they had to know how any article about them and how they are now living would make the industry look. Apparently they are out and no longer care how the industry is perceived or what effect this can have on those of us are are still doing this. You would think they would have a little more care for an industry that apparently treated them very very well

What is funny is how this reporter accuses them of making their fortunes by taking advantage of others. Funny how people throw rocks in glass houses. Is this reporter not making a name for himself by exploiting other by making out 2 individuals plus arguably the industry seem like a bunch of loan sharks? What he did is absolutely no different than what he is accusing them of doing. In any case, I still stand by the fact that inviting a reporter to your home and divulging your rags to riches story while expecting him to write some wonderful piece about you is naive at the very best. Lets hope they don't blow through their money too quickly.