Results 1 to 25 of 77
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09-27-2018, 04:19 AM #1
- Join Date
- Sep 2018
- Posts
- 6
I'm a new ISO, need help with top lenders
Hi,
I am actually new in this industry and looking to work as an ISO, already registered with OnDeck, SmartFunding, YellowStone. What are the other best lenders I should sign up with?
How about Velocity?
Thanks
Gary
Eagle Business Loans
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09-27-2018, 09:03 AM #2
- Join Date
- May 2018
- Posts
- 20
Hi Gary,
I would love to talk to you about RDM Capital Funding's ISO program. Give me a call when you have a chance.Michael Candia
Director of Business Development
RDM Capital Funding
_________________________________
Phone: 973-685-2992
Fax: 877-837-6080
Email: mcandia@rdmcapitalfunding.com
www.rdmcapitalfunding.com
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09-27-2018, 10:00 AM #3
What you need to learn is each funder has a specific niche. Hence, look into all the Funders and soak in the uw guidelines and programs and industries they fund. This way you will have a home for each file that has potential for funding.
Most Funders look at:
SIC (industry type)
Years in Business
Monthly Deposits
Beginning Balance and Ending Balance
Daily Ledger
Merchant Credit Profile
Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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09-27-2018, 10:10 AM #4Karen37aGuest
What you need to do is go work for a local Iso as I have been saying from the day I got on the DF and learn the business because you have ZERO chance of making it in the industry
many a more experienced person has gone out in multiple body bags
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09-27-2018, 10:10 AM #5
You should look at everyone and learn their niches
Not all clients are created equal, the funders aren't either, you play more a match maker role
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09-27-2018, 10:14 AM #6Karen37aGuest
I can just put him on a list of people who spent money on bad leads in the future and was backdoored with the one sale they had after sending in multiple deals of business who wanted "consolidations" right before bankrtupsy or vegas trip.
People need to stop being greedy and trying to get the full % on deals. It doesn't work that way in Financial Services.
And you are not getting paid 50k -100k as a w/2 salary( go to the dmv for a job), you need to pay me for training you or someone else
** or their payment is you splitting the deal with them a varying % depending on your experience and participation
( and i do not want brokers from the df )Last edited by Karen37a; 09-27-2018 at 10:21 AM.
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09-27-2018, 10:19 AM #7
- Join Date
- Jun 2016
- Location
- Tampa, FL
- Posts
- 180
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09-27-2018, 10:22 AM #8Karen37aGuest
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09-27-2018, 10:38 AM #9
- Join Date
- Sep 2018
- Posts
- 6
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09-27-2018, 10:39 AM #10Karen37aGuest
If you were in mca sales for 11 years and do not know the answers something is wrong with you. You should also know that con artists will approach you along with good people.
And I can smell BS from millles away virtually like a live algorithm robot. ( just takes one word and I can catch someone in a lie) And I will be ignoring you going forwards. Gl to youLast edited by Karen37a; 09-27-2018 at 10:43 AM.
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09-27-2018, 10:43 AM #11
- Join Date
- Jun 2016
- Location
- Tampa, FL
- Posts
- 180
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09-27-2018, 10:44 AM #12Karen37aGuest
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09-27-2018, 10:51 AM #13Karen37aGuest
Cue Marcus....he can prop your spirits up and recruit my leftovers as usual ...then they default on him
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09-27-2018, 10:55 AM #14
- Join Date
- Sep 2014
- Posts
- 68
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09-27-2018, 10:56 AM #15
- Join Date
- Dec 2013
- Posts
- 4,713
Would love to get you on board with Mantis. Most of the largest funding houses (in and out of MCA) in the country work with us daily for over half a decade, They seem to send us the A-Minus to the Zzzz Files. we come out very strong on the large large files that have issues that the Super A paper houses pass-on for either newly in business / judgments / tax issues/ credit issues / high Nsf's / restricted SIC Codes.
We fund dozens of files A DAY that were declined by other funding houses prior to Mantis funding the deal.Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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09-27-2018, 10:57 AM #16Karen37aGuest
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09-27-2018, 11:02 AM #17Karen37aGuest
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09-27-2018, 11:08 AM #18Karen37aGuest
Ps some merchant just went around me to fund...to Anthony Yellowstone
( thats the second time it happened to me and caught not by me)
they are paying me...gotta love this business
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09-27-2018, 11:16 AM #19
- Join Date
- Jun 2017
- Posts
- 2,049
In the Beginning there def is a benefit of working with some larger broker shops. PM me if you want recomendations - or you can use us - (even though myself personally is getting away from ISO deals (in house deals just pay so much more money - its a time vs reward thing, working deals from the floor just makes more sense that ISO deals - for me anyway)
Until you have a system. 100 different lenders. a way to review their criteria, obviousy you will have your goto shops, but on those tricky files having a network of 100+ lenders is def a plus. We have a "Bible) here. 100 Lender Guidlines and requirments - a huge binder. On those hard to place deals, the really hard ones, we just comb through - Find a home.
ORGANIZATION is KEY - Tech is KEY - If you can leverage a larger well established ISO - do that, build a relationship, im sure once you build up one you can take advantage of everything they have to offer, CRM, Dialer, KNOWLEDGE.
But here is a list:
1st - 2nd Positions
OnDeck
IOU
Breakout
Rapid
Quarterspot
Snap
Principis
Gibraltar/Wellen
CAN
Vital
TBB
2nd - 3rd Position
Pearl
Legend
Forward
Everest
SOS (Solid 2nd's - DOnt like their 1st Offers - Always get Beat out by lenders above)
Quicksilver
Fundworks
Premier
In Advance
Fundkite
4th- 6th
YS
TVT
WCM
24 Cap
Mantis
ACE
Cooper
Great with Split Deals
Simply MCA - I like how they operate instead of letting processing delay funding they will just ACH until you get split set up
Last Stop before killing a Deal
Main Street
LCF - (Solid choice for ALL Position deals if there are any issues)
Midnight (Rarely send here - Just use their Default program from time to time - Their regular offers just are not competitive)
Alternative to MCA Programs:
LoanMe
Bluevine
Fundbox
LendingClub
Reverse Consolidations
Par Funding
Fundrite
Premier
Arcarius
ML Factors
Fundkite
True Consolidations
FundsofastLast edited by ryan $; 09-27-2018 at 11:34 AM.
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09-27-2018, 11:26 AM #20Karen37aGuest
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09-27-2018, 11:30 AM #21
- Join Date
- Jun 2017
- Posts
- 2,049
Ive been all over the place. At one point I had 50% Ownership of the Entity that is now Uplyft Captal (I still kick myself for walking away from that) but hey it is what it is, life is life.
I like where I am now.... and look forward to growing and killing it like I always do.
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09-27-2018, 11:38 AM #22
- Join Date
- Sep 2018
- Posts
- 6
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09-27-2018, 11:41 AM #23Karen37aGuest
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09-27-2018, 11:42 AM #24
- Join Date
- Apr 2018
- Posts
- 104
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09-27-2018, 11:44 AM #25
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,470
Hi Gary,
If you come across companies seeking an ABL or factoring facility, you should give me a call. www.seacoastbf.com kevin.henry@seacoastbf.comKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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