Does anyone really make money in merchant cash advance ?
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  1. #1
    Karen37a
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    My first Month as a Mca Agent working for someone , I closed 7 deals...funded ...and that was only A paper.

    I didn't get along with the management because I could outsell them using the phone book.

    There is alot of competition in this industry and the agents you are up against are not babes in the woods. The renewal depts of these lenders are not plain ole customer services agents either.

    My first month selling MCAs on my own, i funded 1 million 1 month. The agents on my team struggle and debate me on how to close, since they are all 1099 and repeatedly tell me that they have been in sales for a longggg time ..i let them do what they want as long as they are not too annoying ,stay in compliance and have a 40% closing ratio.( I hate paperwork , God forbid it doesn't close, drives me bonkers)

    You are clearly not doing something right, not prescreening the calls, only getting to the companies that have been declined 50 times before.

    Half the battle is learning how to get to the decision maker and in 30 split seconds get him to listen to you, when you are the 100th person who called that week.
    People are not stupid and business owners are even more savvy . They can tell when a salesperson is on the phone just trying to pitch them something , anything, even if it doesn't benefit them .

    Use a consultative selling approach.

  2. #2
    Senior Member Reputation points: 23718
    Join Date
    Jul 2014
    Posts
    1,746

    Quote Originally Posted by Karen37a View Post
    My first Month as a Mca Agent working for someone , I closed 7 deals...funded ...and that was only A paper.

    I didn't get along with the management because I could outsell them using the phone book.

    There is alot of competition in this industry and the agents you are up against are not babes in the woods. The renewal depts of these lenders are not plain ole customer services agents either.

    My first month selling MCAs on my own, i funded 1 million 1 month. The agents on my team struggle and debate me on how to close, since they are all 1099 and repeatedly tell me that they have been in sales for a longggg time ..i let them do what they want as long as they are not too annoying ,stay in compliance and have a 40% closing ratio.( I hate paperwork , God forbid it doesn't close, drives me bonkers)

    You are clearly not doing something right, not prescreening the calls, only getting to the companies that have been declined 50 times before.

    Half the battle is learning how to get to the decision maker and in 30 split seconds get him to listen to you, when you are the 100th person who called that week.
    People are not stupid and business owners are even more savvy . They can tell when a salesperson is on the phone just trying to pitch them something , anything, even if it doesn't benefit them .

    Use a consultative selling approach.
    What, you mean you cant set up your laptop on the kitchen table, bestow the title of "Managing Partner" or "CEO" on yourself, and start making $10K a month anymore? I'm crushed.

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