[JSL23]

Who, if anyone specializes in funding them? I don't notice a lot of private practices on UCC, but they have to be out there. Doctors and Dentists ALWAYS need money. I am sure most will fund them, my question is who does most often?

[CO1]

New Logic.

[isaacdstern]

Yellowstone Loves Doctor/Dental and Veterinary offices

[Eric S]

Don't bother with YS. Everyone likes medical but no one can just say which bank to use with out knowing the qualifications and the cunsters needs.

[mfs01]

MFS Global Funds doctors, dentists and specialized doctors al day long - We also fund assisted living facilities.
isosupport@mfsglobal.com
702-473-1145

[isaacdstern]

Don't bother with YS. Everyone likes medical but no one can just say which bank to use with out knowing the qualifications and the cunsters needs.

Hey Eric-We can fund any deal...high credit/low credit/tax liens/tax liens/short time in business/in business for 20 years....Every deal is fundableadddd.jpg

[Eric S]

If you worked in independant would you send YS a deal that NL or ODC would fund?

[Chambo]

Oooh, extra dose of Haterade this morning!

[Tomjg]

Give ProMED/ Rapid a call. Able to capture repayment by taking a % of medicare / medicaide/ private insurance, as well as ACH .

[Eric S]

There's no hatred, YS is not a proper home for a good clean deal.

[isaacdstern]

Look at at ad's...we market for the lower end of the market....we will never look to fund a 8, 10, 12 month deal...we will however fund all the high risk deals you can throw at us

[Eric S]

Exactly. The problem for me is those small starter type deals don't pay squat and take up to much of our reps time to be worth while. I'd rather they focused on larger deals that will pad their paycheck.

[Sean Cash]

Exactly. The problem for me is those small starter type deals don't pay squat and take up to much of our reps time to be worth while. I'd rather they focused on larger deals that will pad their paycheck.

you know some of those starter type deals are 100k+ deals right?

[Eric S]

No, I do not know that. I've never seen a starter over $20k (as far as I can remember).

[Sean Cash]

No, I do not know that. I've never seen a starter over $20k (as far as I can remember).

There was a time when a starter meant a 2k advance from 1st merchant at 1.495. I remember those days well and in many people's opinions were a waste of time for sales reps. Now the deals are basically any size. 20k, 50k, 200k.... I have seen 300k+ sized "starter" deals.

Starter tends to mean now high factor, short turn. Commissions on these can be pretty huge and since the deals can renew every 3 months, you can make serious money on them.

[Eric S]

Oh, what you're calling starter we call traditional.

[Chambo]

Give ProMED/ Rapid a call. Able to capture repayment by taking a % of medicare / medicaide/ private insurance, as well as ACH .

The issue with ProMed is that you base it only on the direct deposits form insurance. What about all the cash deposits or copays you are missing out on?

[Chambo]

Oh, what you're calling starter we call traditional.

3 month 1.45's are "traditional"?

[JSL23]

Thanks for the responses guys. I plan on working doctors/dentists more. I will give your suggestions a shot. I got a Dermatologist funded by IOU 2nd position almost 70K with a 12 month term. It was officially a 16.99% interest rate, but more like a 1.22 after their origination fees. Still an amazing deal for the Merchant. Just very time consuming and the pay wasn't the greatest.

I'm pretty sure most funding cos would "take them" but just wondered if anyone had a preference for them. I'll check the rapid/promed out for sure

[CO1]

Yes, Sean is right. I just did a starter for a 100k. . the industry is changing shift every day which has been a plus since I started back in 2007. A lot has changed an it is changing by the day. I just always wonder how it will all end up. . Will we get regulated, will the industry just be the way it is, but I love what I do an I will be here till the end of it!

[UCCBS]

Gentlemen,

Need to throw a question at all or anyone of you.

To have some clarity on why I am asking, a brief background. Retired after more years then I rather remember in sales/financials (financial district NYC). Short story, October 29th 2012 was a turning point in my life. For those who knew, Sandy's wrath dictated it's own verdict as to many people's destiny. Forced back out of retirement and drawn into the cash advance industry.
Here's the deal. Representing as a broker a fairly large ISO. In a nutshell, not satisfied. Ratio's suck.

Question: What presently are the largest points (percentage) given an ISO from the Lender. Which Lenders? and lastly, The largest known commission % on the house markup, (cost of fund) broker can earn?

Appreciate a straightforward answer. Seeking to go independent in my own office and it is absolutely critical constructing the ideal vertical.
Much appreciation in advance. Can't afford to lose one dollar. Lost enough.

[CO1]

The commissions in this industry are anywhere on between 5-15 points. An there isn't a lot of people left out there that pay on the pay back amount which I used to love. An there are a lot companies you need to start from when taking into consideration. Who likes clean paper, who looks at ok paper, who does the high risk. There's a lot you need to consider. Will you do more split deals to ach? An than processors so you get residuals. But my bet is start off with OnDeck, Snap, yellowstone, an so on.

[CO1]

Oh and I forgot you have up sells an down sells now depending on how much you want to make.

[UCCBS]

Appreciate your prompt reply. Your spread example. You are applying that to the total (principle) minus the costs? Yes, that is the impression in so far as how each ISO calculates the broker side commission. Should be a universal denominator. Presently in touch with a ISO (has 140 brokers under) offering a scale up from 60 to 70%. My understanding at this point is that is applied to the markup, (price). You originate and work your own leads in that scenario. Lenders? Jeeze so many. Honestly I am not familiar with SNAP.
AFS
BFS
VCE Enterprises
Capital Access Network (New Logic/Advance Me)
Capital for Merchants
Merchant Financial Corp.
On Deck
Yellowstone
Rapid
1st Merchant
Strategic
WGF
Fora
Happy Rock
Snap
Pearl
IOU Central
Platinum Rapid
Many more

Thanks for your help.

PS. If you need it there is a lender who gave a pitch last week: 1.29 10 months 650 fico. 8 points to the house

[CO1]

I have heard of a company called lend berry. You generate your own clients. You submit to them as your main house an when sold you keep 70% an they keep 40%.