[newtomcabiz]

I'm new to the cash advance business (4 months) and I was curious about individual broker's average monthly funding volume. How much does the average broker rep fund per month? How much do "superstar" brokers fund per month? I'm not asking how much people make and I realize the ability to fund is based on many factors (quality of leads, support, types of marketing etc) - I'd just like to get an idea of what a typical range is for the average broker rep all the way up to the best broker reps. Also, do you find some months are better or worse than others? Thank you very much for your input. I really appreciate it.

[MCNetwork]

Average brokers probably fund $100K-250K per month on an individual basis. Superstars can fund $500K and up. I'm not including brokers who receive deals from other ISOs since this can pump the monthly numbers into the millions. Yes some months are better than others so it's good to build up a book of renewals to cover the slower months.

[FundingCzar]

My Floor has 3 reps that average $400k/monthly so far YTD, floor average is $162k. Usually it takes 30-120 days to ramp up a pipeline, so newer reps typically do $50-100k/monthly in the beginning.

[funda21]

I would agree with MCANetwork here his numbers are what I have seen over the years in different shops

[Michael I]

Wow are you guys talking in new deals or also rewenals . Are you referring to giving reps Zero leads ?

[FundingCzar]

Wow are you guys talking in new deals or also rewenals . Are you referring to giving reps Zero leads ?

Only new deals are included in my volume numbers- we also provide warm leads to our reps, each person gets 10-20 new opportunities a day.

[jotucker1983]

I'm new to the cash advance business (4 months) and I was curious about individual broker's average monthly funding volume. How much does the average broker rep fund per month? How much do "superstar" brokers fund per month? I'm not asking how much people make and I realize the ability to fund is based on many factors (quality of leads, support, types of marketing etc) - I'd just like to get an idea of what a typical range is for the average broker rep all the way up to the best broker reps. Also, do you find some months are better or worse than others? Thank you very much for your input. I really appreciate it.

Here's an article I did for deBanked in November 2015 in relation to this topic: http://debanked.com/2015/11/what-mak...much-you-fund/

Review and let me know (along with others viewing) if you agree or disagree with my commentary. I believe I pretty much nailed it down in terms of this topic.

My measurements will be based on new and renewal volume, with the broker being independent which means he receives no "in-house leads" from a large MCA firm or any "ISO leads/submissions". Basically the broker goes out and generates his own new and renewal applications.

Also, the measurement starts with at least a 24 month period (could go as low as 18 months) because this allows to really measure a broker's performance over time to factor in artificial booms/busts or a broker just having a really "lucky" month or quarter:

Superstar Level: Funding over $300,000 a month
Good Level: Funding about $200,000 a month
Average Level: Funding about $100,000 a month
Rookie Level: Funding about $40,000 - $50,000 a month

[CreditGuy]

I fund a few dozen million a month. Amateurs.

[TStein]

I fund a few dozen million a month. Amateurs.

You must be using Yulia's UCC files to generate those numbers!

[Funder Mark]

You must be using Yulia's UCC files to generate those numbers!

He is an underwriter/ISO rep, last I heard.

[Michael I]

Only new deals are included in my volume numbers- we also provide warm leads to our reps, each person gets 10-20 new opportunities a day.

I was under the impression that 250k for weak and above 500k for good . But I guess your numbers are pretty similar

[CreditGuy]

He is an underwriter/ISO rep, last I heard.

I'm a credit guy.

[aredmond]

This is pretty accurate but I would modify it slightly to:

Superstar Level: Funding over $400,000 a month
Good Level: Funding over $300,000 a month
Average Level: Funding about $200,000 a month
Rookie Level: Funding about $100,000 a month

We all know sales vary month to month basis so keeping a 90 track history is a good way to measure yourself. Look at your last 90 days, divide by 3, and see where ya fit.

[J.Celifarco]

This is pretty accurate but I would modify it slightly to:

Superstar Level: Funding over $400,000 a month
Good Level: Funding over $300,000 a month
Average Level: Funding about $200,000 a month
Rookie Level: Funding about $100,000 a month

We all know sales vary month to month basis so keeping a 90 track history is a good way to measure yourself. Look at your last 90 days, divide by 3, and see where ya fit.

this is pretty close to what I believe. I think if you are superstar its going to be a higher then 400k, super is going minimum 500k or better every month. Also a rookie if they are hitting 100k right out of the gate then they are going to be a superstar one day because in todays market I think it is taking people a little longer to learn and start hitting decent numbers. That said these numbers are pretty close to reality.. Remember this also has a lot to do with where you work basing these numbers on companies with average marketing budgets.. The larger ISO's spending hundreds of thousands a month on marketing are going to have higher expectations of their closers then companies with average marketing budgets

[mcaguru]

At Cresthill capital you will get the same service if you have only 1 deal a year for just 2K (we are the largest in funding 2K deals but happily fund to 350K).

by Cresthill/Mantis EVERYONE is a superstar!!

[Michael I]

At Cresthill capital you will get the same service if you have only 1 deal a year for just 2K (we are the largest in funding 2K deals but happily fund to 350K).

by Cresthill/Mantis EVERYONE is a superstar!!

so what are the reps by mantis averaging ? try to be helpful to thread . instead of spewing your nonsense that we are all sick of

[jotucker1983]

This is pretty accurate but I would modify it slightly to:

Superstar Level: Funding over $400,000 a month
Good Level: Funding over $300,000 a month
Average Level: Funding about $200,000 a month
Rookie Level: Funding about $100,000 a month

We all know sales vary month to month basis so keeping a 90 track history is a good way to measure yourself. Look at your last 90 days, divide by 3, and see where ya fit.

this is pretty close to what I believe. I think if you are superstar its going to be a higher then 400k, super is going minimum 500k or better every month. Also a rookie if they are hitting 100k right out of the gate then they are going to be a superstar one day because in todays market I think it is taking people a little longer to learn and start hitting decent numbers. That said these numbers are pretty close to reality.. Remember this also has a lot to do with where you work basing these numbers on companies with average marketing budgets.. The larger ISO's spending hundreds of thousands a month on marketing are going to have higher expectations of their closers then companies with average marketing budgets

Guys but remember, my metrics are for independent brokers only, who are not receiving any leads, have no marketing budgets of any relative significance, don't get to count ISO submissions, and mainly generate apps through telemarketing or some other innovative marketing strategy.

When you factor in all of the other admin related tasks that independent broker has to manage, averaging $200k a month has got to be at least "Good", $300k a month has got to be at least "Superstar".

Also I use at least a 18 - 24 month time period to measure, because a broker can come in having a strong 2 or 3 months, then go dead in months 4 - 6, then decide he wants to leave the industry during months 9 - 12. With an 18 - 24 month measurement, you now have some form of consistency to judge an independent broker's actual competency and "status" as a Good, Superstar, or Average broker.

[J.Celifarco]

Guys but remember, my metrics are for independent brokers only, who are not receiving any leads, have no marketing budgets of any relative significance, don't get to count ISO submissions, and mainly generate apps through telemarketing or some other innovative marketing strategy.

When you factor in all of the other admin related tasks that independent broker has to manage, averaging $200k a month has got to be at least "Good", $300k a month has got to be at least "Superstar".

Also I use at least a 18 - 24 month time period to measure, because a broker can come in having a strong 2 or 3 months, then go dead in months 4 - 6, then decide he wants to leave the industry during months 9 - 12. With an 18 - 24 month measurement, you now have some form of consistency to judge an independent broker's actual competency and "status" as a Good, Superstar, or Average broker.

OK then based on all of that I would say those numbers are definitely on target if you talking 1 man shops handling all business themselves and using only a small marketing budget

[aredmond]

Guys but remember, my metrics are for independent brokers only, who are not receiving any leads, have no marketing budgets of any relative significance, don't get to count ISO submissions, and mainly generate apps through telemarketing or some other innovative marketing strategy.

When you factor in all of the other admin related tasks that independent broker has to manage, averaging $200k a month has got to be at least "Good", $300k a month has got to be at least "Superstar".

Also I use at least a 18 - 24 month time period to measure, because a broker can come in having a strong 2 or 3 months, then go dead in months 4 - 6, then decide he wants to leave the industry during months 9 - 12. With an 18 - 24 month measurement, you now have some form of consistency to judge an independent broker's actual competency and "status" as a Good, Superstar, or Average broker.

I was referring to a modest shop/lender with a modest marketing budget. Like John said, the more you spend the more results that are expected.

[Michael I]

Are you guys taking out the couple of big deals ? also what do you call a modest marketing budget ?

[mcaguru]

I was referring to a modest shop/lender with a modest marketing budget. Like John said, the more you spend the more results that are expected.

To be fair its not the rule of thumb. I have an ISO in Texas he has always Hugh 500-1M a month in sales files and spends NO money (just time) to get the business owner interested. My point is creativity can still bring in tremendous business.

[FundingCzar]

Are you guys taking out the couple of big deals ? also what do you call a modest marketing budget ?

No-all large and small deals are included my in my numbers, its an average.Our average rep funds 4.5 deals/month, with the newest reps doing 1-2 deals and seasoned reps doing 7-10/monthly.

Larger ISO's typically spend anywhere from $25k-$100k/month for every 10 reps on staff. I can only speak for about 5 larger ISO's that I regularly speak with, but across all of us we are probably averaging $60k/month for every 10 reps on staff. There are TONS of exceptions though, I know ISO's doing $1-3M monthly with ZERO marketing budget.

[renewcap]

I think your numbers are pretty accurate. IMHO