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10-07-2016, 10:53 PM #1
- Join Date
- Mar 2016
- Posts
- 42
Business Credit Cards
Is there any money in business credit cards? I don't know anything about it, can somebody give me a breakdown of which companies to use and how to sell this product ect..
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10-09-2016, 05:53 PM #2
When I worked at Lendio (which sucked) they had us pitching business credit cards. They rarely were approved and the commission was so low I didn't even bother.
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10-09-2016, 07:47 PM #3
- Join Date
- Dec 2015
- Location
- Costa Mesa
- Posts
- 234
We work with Capwell Funding which is a company that offers a credit card (Business and Personal) program to business owners with no or little revenue that have a good credit score. They even offer a private label program if you want them to offer it under your brand etc. Check them out:
And from my understanding there is quite a bit of money to made on the program if its pitched and sold correctly.
www.capwellfunding.com Talk with Jason
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10-10-2016, 01:19 AM #4
- Join Date
- Feb 2016
- Posts
- 34
@jcoop, happy to help. Below is a copy/ paste from earlier posts in other threads. Bottom line, there is money in, but by no means is it as much as an MCA/ACH product. The margin is simply not there. That said, our top partners receive $40k+/month and have made it a priority in their workflow, some even dedicating staff to the niche of startups after they witnessed the growth in their payouts.
The target customer is 680+ credit with the average being 712. The rates are typically 0% for the first ~12 months and the revenue for us is a success fee which in turn leads to a referral commission to our partner.
The product is great for 2 types of clients:
1. Startups/ early stage business owners (w/strong credit)
2. Existing business owners with strong credit but aren't a good fit for another lending product.
Hope this helps!
Copy/ paste from earlier post:
**Startup Funding**
Seek Capital provides funding to startups and early stage business owners.
- Deep roots in the MCA space, servicing many MCA firms for their startup leads (we provide on site training, best practices and access to tools that can be used everyday)
- Perform soft credit pull with all 3 bureaus (no need for client to jump through hoops to sign up to 3rd credit monitoring)
- Automated underwriting
- Strong internal sales team
- Direct bank relationships for higher approvals
- Real time reporting portal
- Client doesn't just walk away with credit cards, Clients have the ability to transfer funds from their credit card account directly to their checking account while maintaining 0% intro rate
- Dedicated Account Managers for each client
- Truly a superior client experience
For direct contact: partners@seekcapital.com
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10-11-2016, 05:13 PM #5
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Last edited by Montague; 03-15-2017 at 02:10 PM.
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