[BigIz]

I have a couple deals in CA that do not qualify for MCA because of low daily balances but they do between 20-25K a month. A cleaning service and single haul trucker. They would be perfect for Loan Me but I am not licensed in CA. Anybody licensed in CA willing to co-broker?

[bsmith]

I may be wrong but legally I believe you aren't allowed to get paid by anyone unless they want to shoulder that liability.

[FUNd]

I think there is a lot of misconception about Loan Me's requirements when it comes to getting brokers paid, but I'll let them clarify...

[mic_ferr]

We can definitely get them funded. Feel free to give me a call.

Mike Ferrara
mferrara@capify.com
646-370-2811

[LoanMe]

I think there is a lot of misconception about Loan Me's requirements when it comes to getting brokers paid, but I'll let them clarify...

Yes, thank you Dave. As discussed LoanMe cannot pay commissions to an unlicensed broker for a CA funded deal (where the borrower/business is located in California), NOT if our partners are located in CA.

To our partners located in California, please understand that any funded files for any of the other 30 states LoanMe lends in, will be paid out as normal.

[bsmith]

We can definitely get them funded. Feel free to give me a call.

Mike Ferrara
mferrara@capify.com
646-370-2811

All four of your posts the past 2 days are practically identical, not even Zach is that bad.

[LoanMe]

For LoanMe to be able to pay commissions on a California Funded File, the partner submitting the file must have an active CFLL (California Finance Lenders License).

[nrh1lp]

I believe BigIz is trying to work with a CFLL licensed broker this way loanme can pay out the appropriate commission and then the broker would pay BigIz a portion of that commission. A smaller pay out is better than no pay out

[BigIz]

I believe BigIz is trying to work with a CFLL licensed broker this way loanme can pay out the appropriate commission and then the broker would pay BigIz a portion of that commission. A smaller pay out is better than no pay out

Correct. I understand that Loan Me will not pay me because I am not yet licensed in CA as a CFL Lender but I am willing to take a small portion from a licensed CFL broker. A little is better than nothing. I just began advertising at a small Latin station in CA and will have many of these small deals (hopefully) in CA. If they do not fit standard MCA, I am pushing them to WBL (if they have real estate to pledge) OR Loan Me (If I can co-broker with someone).

[bsmith]

I believe BigIz is trying to work with a CFLL licensed broker this way loanme can pay out the appropriate commission and then the broker would pay BigIz a portion of that commission. A smaller pay out is better than no pay out

Congratulations, you can read. Please take this imaginary certificate that means absolutely nothing and give yourself a pat on the back. JK, but what I was stating is that if a broker can't be paid because they are not licensed, then by extension it would seem that even by co-brokering they are still not eligible to get paid. The only way they would get paid then is if the licensed broker wanted to be responsible for the liability or if they paid the unlicensed broker under the table, in which case posting it on a public forum makes us all look bad. Again, I may very well be wrong and if I am I will take my imaginary shoe and cram it down my throat.

[Zach]

All four of your posts the past 2 days are practically identical, not even Zach is that bad.

Aw, come on man!

[first us funding webster]

im interested in helping you guys out call for details 9735179534

I have a couple deals in CA that do not qualify for MCA because of low daily balances but they do between 20-25K a month. A cleaning service and single haul trucker. They would be perfect for Loan Me but I am not licensed in CA. Anybody licensed in CA willing to co-broker?

[HDF]

me to! 8698604606886

[DiamondBL]

Did you figure this out?


Jonathan Kohanoff
B.R.E. #01962090

Diamond Business Loans
292 S. La Cienega Blvd STE 206
Beverly Hills, CA 90211
Toll-Free 888-620-3800
www.DiamondBL.com
jon@diamondbl.com