Results 51 to 70 of 70
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11-13-2015, 01:49 AM #51
Guys, please stop fighting each other
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11-13-2015, 01:55 AM #52
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- Apr 2014
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- 781
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
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11-13-2015, 02:36 AM #53
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- Mar 2015
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- 78
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.
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11-13-2015, 08:23 AM #54
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- Oct 2013
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- New York, NY
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- 1,203
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11-13-2015, 08:55 AM #55
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11-13-2015, 09:02 AM #56
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- Oct 2013
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- New York, NY
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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.
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11-13-2015, 09:38 AM #57
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- Sep 2012
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- New York, NY
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- 1,780
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11-13-2015, 09:42 AM #58
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- Sep 2012
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- New York, NY
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- 1,780
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...
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11-13-2015, 09:54 AM #59
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- Oct 2013
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- New York, NY
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- 1,203
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11-13-2015, 10:20 AM #60
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- Oct 2015
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- 53
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11-13-2015, 10:21 AM #61
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- Oct 2015
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- 53
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11-13-2015, 10:35 AM #62
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- Oct 2015
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- 53
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11-13-2015, 10:42 AM #63
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- Oct 2013
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- New York, NY
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- 1,203
Typically what I hear:
Rep#1: Sir, can I take your order please?
Merchant: I'll have your very expensive 25K please
Rep#1: Coming right up with a 10% gratuity added
Merchant: Okay, I have no choice
REp#1: (to his coworkers) I am the single greatest salesman on the planet!!!
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11-13-2015, 11:05 AM #64
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- Oct 2015
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- 53
Goes a little something like this - https://www.youtube.com/watch?v=WBeDPZiwZqQ
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11-13-2015, 01:00 PM #65
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- Oct 2015
- Location
- Brea, California
- Posts
- 88
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.
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11-13-2015, 01:07 PM #66
- Join Date
- Apr 2015
- Location
- Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
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- 554
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.
Last edited by John Galt; 11-13-2015 at 01:10 PM.
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11-13-2015, 01:10 PM #67
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- Mar 2015
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- Boynton Beach
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- 3,490
The title of this thread is.... "And So It Starts".....with all the negative comments posted....when will it end.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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11-13-2015, 01:19 PM #68
- Join Date
- Apr 2013
- Posts
- 117
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...
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11-14-2015, 02:06 AM #69
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- Apr 2014
- Posts
- 781
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.
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11-14-2015, 07:36 PM #70
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- Jul 2015
- Posts
- 58
Fees
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.
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And so it starts...
By Chambo in forum Merchant Cash AdvanceReplies: 35Last Post: 04-23-2014, 11:44 AM