Results 1 to 8 of 8
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01-13-2016, 10:00 AM #1
commission is WAAAAY bigger
If you have merchants that have more than 5 NSF`s, 5 Negative days, Credit score below 500, they get declined. BUT....if they own a house or business and have some equity, they still may be able to get approved.
Signing up with WBL deals that would go by the wayside have 1 more shot at getting funded. Since there is collateral involved they will get better rates, longer terms, and more money. Takes a little bit longer than 2 days but if it`s decline anyway, it`s worth forwarding and email with info you already have right?
It`s just 1 extra question when speaking to the merchant. Regardless of positions, we can still get it done. Sometimes we can get them an ACH or MCA deal AND a collateralized (bank deals as we call them) your commission is WAAAAY bigger.
If they have good deposits or take credit cards we can put out competitive offers & fund the deal also, we do all 3. Call or email me and I will send you the details and ISO Agreement. My direct contact info is below.
Regards,
Kieran McQuaid
ISO Relations / Business Development
World Business Lenders
120 W. 45th St. 29th Floor
New York, NY 10036
Direct: (212) 271-8286
Mobile: (212) 470-7188
Fax: (646) 607-5341
Email: kmcquaid@wbl.com
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02-02-2016, 01:06 AM #2
if they have Real Estate, i have much better terms and rates , 3 year - Interest only starting at 7.75% - we specialize in commercial and non-owner occupied residential.
We don't care about NSF or Neg days - this is truly an asset based loan.Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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02-02-2016, 07:45 AM #3
- Join Date
- Jun 2015
- Posts
- 3,312
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02-02-2016, 01:04 PM #4
- Join Date
- Oct 2015
- Posts
- 24
if I may chime in...
The short sighted person is looking to make more off of the client on the initial transaction, but if you get the merchant a good deal with a average commission then you will make more in the long run...why??? because the merchant will trust you and know you operated out of integrity. Business owners know other business onwers and they talk and recommend people amongst they're circles.
If you want to make money and continue to make money you must have vision!
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02-02-2016, 01:14 PM #5John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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03-05-2016, 10:19 PM #6
- Join Date
- Mar 2016
- Posts
- 123
For us, the commission to a referral agent who's direct to borrower on a commercial real estate loan that closes is 50% of realized commission.
That's the easiest way to describe the rate as every loan amount is different.
For loans under $1mm, there are typically 2 or 3 broker and/or lender points generally speaking.
Loans over $1mm might be 2-3 points also if the loan has some sticky wickets, bad FICO, MSA or other hair. Cleaner loans from $1mm - say around $50mm are typically a point, maybe 2.
Anyway on a commercial real estate purchase, refi or bridge loan it's easiest to figure commission as a percentage of total loan amount at close of escrow. Except in the case of a credit facility or other non collateralized loan 99% of the time commission is paid from title company at close.
The documents required for most commercial real estate loans are more than an mca loan and take about 30-90 days as opposed to 1-4 days for an mca, which frustrates a lot of people familiar with mca.
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03-06-2016, 08:37 AM #7
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
For the folks here that want to do their own Real Estate deals go to SCOTSMANGUIDE.COM and do a lender search. There are several DIRECT LENDERS and intermediaries that can help you get cheaper capital for your clients.
You can ask the lender if there is 'Yield Spread Premium' (YSP) so that you can add points to the deal via the interest rate- saving the clients origination fees.
REAL ESTATE IS TIME CONSUMING with several possible pitfalls.. Definitely not black and white. In most states you DO NOT need a Mortgage Brokers license, but if the deal is in a state that requires one, there are intermediaries that are happy to share revenue..
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06-11-2016, 02:59 AM #8
- Join Date
- Apr 2016
- Posts
- 26
Any experts want to shed some light on this?
- Which states require you to have a mortgage broker license when brokering a deal for a merchant(business) + real estate as collateral?
- Which states require you to have a mortgage broker license when brokering a deal for a person + real estate as collateral?
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