[BigIz]

I have to disagree with this. I'll bet you $100 that if you randomly call 10 restaurants in your phone book and ask the owner if he knows what a merchant cash advance is and how it works, 7-8 of them won't know. People only know what it is when they have a serious need and actually look into it.

Every day I'm pitching MCAs to business owners who don't know what it is, so I know what I'm talking about...

Hello MCNetwork, I was not going to reply to the RANTINGS of an old timer BUT you are absolutely right. The reason I know, because I actually have someone out there pounding the pavement and MOST of these small businesses have NOT heard about cash advances or other alternative financing options.

Some people are set in their ways and their mentality is "I know EVERTHING about this industry and anyone who does it different or does not agree with me is an idiot". My whole point with that paragraph, which he repeatedly ignored is, the pie is a lot bigger than many on here think. That is it.

Now FunD can go ahead and post another insulting rant. I am outa this thread.

[bdshaw]

Not to digress boys but from a dollar prospective I'm sure that the "commercial" companies have a substantially higher sales volume than those you would categorise as retail.
That begs the question of why hasn't everyone but John contacted me to learn about this huge financial marketplace?
Bob

[John Galt]

A lot of the guys here will never understand the idea of factoring or legitimate loans and will push for the 15% commission MCA plus fees. See if they are still here next year. See if their clients are still open....and funD is leading them like lemmings. He's as thick as a bulls walt and it's pointless to make fun of him as it will take him all day to figure out the insult.

[FUNd]

Maybe because we don't all focus on "retail" Bob, and are fully aware of every SIC code in the book that has a need for capital.

[cbs]

Is this always the way this site is with bickering? I find fund to be an a-hole. The guy stated his opinion but fund just cuts down everyone. Why is he still allowed here?

[admin]

Guys, please stop fighting each other

[golf2014]

now now folks..let's calm down with making brokers being the worst in the world. plenty of stuff the lenders do are just as wrong. timing is huge in this industry..it matters when you call them and get lucky. one way to avoid the rogue brokers is to not allow up charging the client. offer comes in at 1.35 at 7 points and that is that. but...nobody mentions how the lenders are at fault onlyyyyyyyy the greedy brokers..uh huh

[Lender Of Gold]

now now folks..let's calm down with making brokers being the worst in the world. plenty of stuff the lenders do are just as wrong. timing is huge in this industry..it matters when you call them and get lucky. one way to avoid the rogue brokers is to not allow up charging the client. offer comes in at 1.35 at 7 points and that is that. but...nobody mentions how the lenders are at fault onlyyyyyyyy the greedy brokers..uh huh

Co-sign this. At least the individual broker is trying to make his living on his back and is his only liability.

While the big corporate funders and big ISOs burn+churn hundreds of reps a year by feeding them pipe dreams, barely train them, then scheme of ways to rob and underpay the guys on the ground, whether it be hustling them out of commission, using them simply for lead gen before firing them and sweeping leads to the management, etc.

Ain't no Mother Teresas in this industry: big funders, small funders, lone broker or big ISO.

[AndyYSCISOdept]

Oh I knew exactly whom you were talking about and believe me we have our differences but in the end I do my best to make sure that the guys that work with me aren't subjected to that.

[John Galt]

Actually BigIz, you're completely right. I have 3 pretty little girls (though the turnover is high and they are part time) that distribute flyers in Miami and Ft Laud and it works (though the loans are smaller), but face time works. I pay them $10 per hour and they pick up business cards, menus etc for constant contact and to verify they were there. I yield one or 2 small accounts (under 25K) for their part time work and it still profits. You must know though funD is a sandwich short of a picnic. The girls get at least a couple of apps a week, which become prospects.

[Kevin Henry-Seacoast]

The title of this thread is.... "And So It Starts".....with all the negative comments posted....when will it end.

[staten]

The most interesting thing I read was a new lender (in a reply to the fed request) stating that online lenders should have access to the Fed Window just like a bank, but without the regulatory and compliance. HAHAHAHA me too!!! This an example of tech versus finance...

[golf2014]

when sales exist there are always issues. CAR salesman..stockbrokers..lawyers..jewelry salespeople..nobody has made laws what they can or can't do....there will always be risks of rogue or bad salespeople...can't regulate everything.

[CLucas]

I agree commission are generous seriously you close a 100-k deal at 10% in theory your at a seven figures, at one deal a month at that funding amount, you can make a comfortable living, then if half renew its a bonus. I understand it's always not that easy but definitely possible. Being in this field for almost 8 years now, I feel lucky that I can put my entrepreneur skills to the test.