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11-10-2015, 05:40 PM #1
- Join Date
- Oct 2015
- Location
- Brea, California
- Posts
- 88
Hello MCNetwork, should have been clear. I was only thinking of adding a broker fee when I get the merchant into a term loan (if the lender allows it) because they want a larger amount for longer terms. The term lenders are actual lenders that are licensed on a State by State basis. Me charging a "referral" or "broker" fee may violate State statutes.
From the ISO agreements I have gotten from the term lenders, they only pay around 1.5% to 3%. I had already decided that I would not get a merchant into a term loan if they wanted anything under $100,0000 and the lender did not allow me to charge an additional broker fee. I cannot be profitable or break even if I make $750 on a $50,000 deal.Last edited by BigIz; 11-10-2015 at 05:49 PM.
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