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  1. #1
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    Lightbulb New to mca industry

    I am new to the Merchant Cash Advance industry. I noticed an opportunity to help small to mid-sized businesses within my local community to provide Merchant Cash Advance services to various small businesses, including $.99 stores, furniture outlets, manufacturing companies within the industrial park area in my neighborhood. What is the best way to let these companies know that I can help them with any upcoming projects or expansion plans that they may have???

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    By calling them

  3. #3
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    Quote Originally Posted by MCNetwork View Post
    By calling them
    lol. This board needs a thumbs up button or Like button.

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    What are the best programs for these type of businesses?

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    Quote Originally Posted by RichSales View Post
    What are the best programs for these type of businesses?
    Merchant cash advances and ACH loans

  6. #6
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by mcnetwork View Post
    by calling them
    ha ha ha! Great answer

  7. #7
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by RichSales View Post
    I am new to the Merchant Cash Advance industry. I noticed an opportunity to help small to mid-sized businesses within my local community to provide Merchant Cash Advance services to various small businesses, including $.99 stores, furniture outlets, manufacturing companies within the industrial park area in my neighborhood. What is the best way to let these companies know that I can help them with any upcoming projects or expansion plans that they may have???
    Welcome to our world.

    A couple of pointers....that "Industrial Park" might be a little difficult to get funded. Sounds like an UW quagmire. The .99 store could work, as long as they deposit all their money. If they are "hiding cash", that willhurt them for any financing application. Furniture is a difficult industry to fund. They have a bad history of defaults in our biz and many funds will auto decline.

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    Quote Originally Posted by Chambo View Post
    Welcome to our world.

    A couple of pointers....that "Industrial Park" might be a little difficult to get funded. Sounds like an UW quagmire. The .99 store could work, as long as they deposit all their money. If they are "hiding cash", that willhurt them for any financing application. Furniture is a difficult industry to fund. They have a bad history of defaults in our biz and many funds will auto decline.
    Thanks for that information Veteran,....I will be careful as I approach those businesses.

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    Well,...after careful consideration,....I've decided to start my niche with the $.99+ stores. I will have to be aggressive in my pitch,....but the hard part with these type of stores,....IT IS VERY HARD TO GET THEM ON THE PHONE. So,....do I do like the old days? Beat the paths and go see these locations personally and say 'hey,...I'm in the neighborhood,...if you need cash for any expansions or projects or need to pay payroll,....call me and we will work something out.' Would it be better for me to start a print campaign and just go to each and every business and let them know,....hey,....I got programs to help you grow???

  10. #10
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    But,...now that I think about it,....how about franchises? You know,....everybody got a McDonald's or a Wendy's or some other type of franchise,.....would that work within our industry???

  11. #11
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    There is no quick road to riches in this industry. If you can fund 1 out of 100 merchants that you reach out to, you'll be in great shape. Just work hard and learn the industry first.

  12. #12
    Veteran Reputation points: 134971 Chambo's Avatar
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    Can it work? Of course! Will it work? Depends on many factors

    At this stage of the game you should be concentrating on bring in as many fulll applications as possible (app and stmts). Let the rest take care of itself.

  13. #13
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    I recently had a couple of my clients that I work with in other areas come and ask me, would Merchant Cash Advance work well with Real Estate Investors. What do you think? Does the Real Estate Industry have a place in Merchant Cash and ACH programs?

  14. #14
    Veteran Reputation points: 134971 Chambo's Avatar
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    Management? Doable. Investing? No way

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    A forum user Reputation points: 2147483647 Sean Cash's Avatar
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    I heard yellowstone funded 121 million in 2012 chambo. That's pretty insane.

  16. #16
    Veteran Reputation points: 134971 Chambo's Avatar
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    we funded 4261 deals for a total of $121,425,000 !!!!!

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    I heard they were doing a lot but didn't think it was that much. How many reps do they have working for them????

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    Wow is that all new business or are half of them renewals?

  19. #19
    Veteran Reputation points: 134971 Chambo's Avatar
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    That's everything together (but does it really matter?)

    There are currently 32 inside reps plus 3 outside reps

  20. #20
    Veteran Reputation points: 134971 Chambo's Avatar
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    Still, all in all a nice jump from $76,000,000 last year

  21. #21
    Quote Originally Posted by sean bash View Post
    I heard yellowstone funded 121 million in 2012 chambo. That's pretty insane.
    Merchant Cash and Capital is now funding $10 million per month to merchants. You can check out the article here http://www.sfgate.com/business/prweb...nd-4163622.php

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    Veteran Reputation points: 134971 Chambo's Avatar
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    PR Web annoucement....yeah, that makes it legit.

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    in regards to chambo, that would mean each rep is funding 3.5 mil a year on average?

  24. #24
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    This pissing contest is getting boring. Move along now.

  25. #25
    Veteran Reputation points: 134971 Chambo's Avatar
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    Nobody pissing in anyone's Cornflakes here.....I just don't take PR Web as credible, as anyone can post anythign they want there for the right price. Do I believe MCC broke the $10 million threshhold? Probably...they've been around long enough and have would expect they're doing $6-7 mill a month in renewals alone. I just wouldn't post a PR Web announcement as a "look here, this is credible" source.

    In terms of reps at YSC?, is everyone doing the same amount? Of course not (never the case in any firm anywhere). I think the top guy did $14 mill if I am not mistaken. #'s 2 and 3 did over $8 mill...and it trickles down from there.

    Hopefully Dodd/Frank will kick in one of these days however, and all these firms will be obligated to report. There will be no more PR annoucements and smoke and mirrors. Hard core data to analyze......one day (sigh)



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