[Ditty]

Quick question here, can someone who's been through it before confirm On Deck's commission policy on renewals to ISO's? So we got a merchant funded with On Deck a while back, got 12 pts on the deal, now merchant is eligible so we got them funded on the renewal...how many points do they typically pay on the renewal? Thanks

[Eric S]

For one thing, you have continue to fund deal in order to keep your renewals.

[Ditty]

Not sure what you mean, I got him funded originally, and completed a renewal, both with On Deck

[funding pro]

I think he means you need to keep sending additional new business.

[Ditty]

Got it. We continue to do deals with them, but they're not our primary lending source by any means. Probably 1 per month. So do they not have a stated policy?

[Lendinero]

Ditty, it should be in your agreement under "compensation"

[channin19]

Should be on the net amount not the funded amount

[MCNetwork]

My renewal rates at On Deck are the same as my new deal rates. Whatever I sell above the buy rate is my commission.

[Quickfunder]

Renewal rates should always be the same as the new deal rates. That the lender stands to bank but your comm. gets reduced is an absolute no.

[MCAVeteran]

How many funders, realistically, are paying same on new and renewals- not what they advertise, but what's written on an ISo agreement. Also, every company prob has a clause that allows them to change their schedule As at anytime with a 30-day notice. Renewals are where the funders make their revenue in this business - I.e. Why so many pay reduced comm on renewals. They aren't going to pay a renewal dept. payroll and pay the broker same comm on renewals. Not saying it's right or wrong just saying it appears most of the larger funders pay reduced renewal comm or have a clause that you have to keep funding monthly etc to get any renewals . There's always a catch 22 on this topic.