[OC Funder]

The 3 things every broker needs is the ability to generate leads, the ability to close deals, and the relationships with funders to actually place the advances. It *seems* like currently you provide no value in any of these areas. CRMs, syndication opportunities, processing assistance, etc. are all nice but most revenue generating shops can figure those things out on their own without having to share their commission with you. If you're serious about doing this, I think you need to bring on a partner with a proven track record... figuring out syndication splits is putting the cart way before the horse.

[cruisinman]

The 3 things every broker needs is the ability to generate leads, the ability to close deals, and the relationships with funders to actually place the advances. It *seems* like currently you provide no value in any of these areas. CRMs, syndication opportunities, processing assistance, etc. are all nice but most revenue generating shops can figure those things out on their own without having to share their commission with you. If you're serious about doing this, I think you need to bring on a partner with a proven track record... figuring out syndication splits is putting the cart way before the horse.

We have the ability to generate MCA leads since our Brokers will be offering other products / services to local businesses . . .

Closing Deals is paramount to any sales process. We will be recruiting those that can sell. We just have to learn how to sell MCA's - that shouldn't be rocket science.

Syndication seems to be a great way to get an above average return. I imagine we will do it - just not out the gate.

If all the "Shops" could do this on their own - dozens of them wouldn't be soliciting ISOs on a daily basis.

[OC Funder]

If all the "Shops" could do this on their own - dozens of them wouldn't be soliciting ISOs on a daily basis.

The dozens you see soliciting ISOs on here are typically funders, and the value they're providing is the cash to advance. With that said, I've been proven wrong more times in my career than I care to count; maybe you'll be another! I wish you luck.

[Bcooper]

We have the ability to generate MCA leads since our Brokers will be offering other products / services to local businesses . . .

Closing Deals is paramount to any sales process. We will be recruiting those that can sell. We just have to learn how to sell MCA's - that shouldn't be rocket science.

Syndication seems to be a great way to get an above average return. I imagine we will do it - just not out the gate.

If all the "Shops" could do this on their own - dozens of them wouldn't be soliciting ISOs on a daily basis.

unless you have experience in this space this might as well be rocket science trying to convince someone they need to pay back a 1.499 on 30 days or some other crap offer is not easy it takes skill and understanding of how this industry and the merchants work. this is not an industry you can waltz into the average wash out rate is well over 95% ive been in this idustry for a few years and seen many people like you open up and close down within the span of a few months

[abfunders]

unless you have experience in this space this might as well be rocket science trying to convince someone they need to pay back a 1.499 on 30 days or some other crap offer is not easy it takes skill and understanding of how this industry and the merchants work. this is not an industry you can waltz into the average wash out rate is well over 95% ive been in this idustry for a few years and seen many people like you open up and close down within the span of a few months

I'll go with what Bcooper said here, it's a crazy industry, and there's a good reason why I offer so many other products, and why you should as well, which are some of things I've been referring you to. But brokering is an art, I can imagine that as an MLM it gets a bit messy. That being said, I do have a consumer finance fintech company that I have a relationship with, I know I can refer other brokers, I have a conversation with them tomorrow to remind myself how to introduce them to you. I'll hit you up with an email tomorrow.

[cruisinman]

I'll go with what Bcooper said here, it's a crazy industry, and there's a good reason why I offer so many other products, and why you should as well, which are some of things I've been referring you to. But brokering is an art, I can imagine that as an MLM it gets a bit messy. That being said, I do have a consumer finance fintech company that I have a relationship with, I know I can refer other brokers, I have a conversation with them tomorrow to remind myself how to introduce them to you. I'll hit you up with an email tomorrow.

Thanks Micah . . .

[cruisinman]

unless you have experience in this space this might as well be rocket science trying to convince someone they need to pay back a 1.499 on 30 days or some other crap offer is not easy it takes skill and understanding of how this industry and the merchants work. this is not an industry you can waltz into the average wash out rate is well over 95% ive been in this idustry for a few years and seen many people like you open up and close down within the span of a few months

We are wanting to be different and not offer anything over 1.39 with 1.30 being the average MCA deal. Target 4 to 6 month deals - maybe up to 12 months for those that qualify.

This isn't cheap money - but, peeps need it for various reasons. We just have to find those peeps.

Like I told my Reps at a few Funders - for our Network, this will either be a Hero or a Zero. We'll just have to see. But - this industry can make the right people a Million $$ with a few years of hard work and Team building.

Micah has been helpful by suggesting other products / services need to be in our quiver to make sure our Brokers are in a good position to close various deals.

[Bcooper]

We are wanting to be different and not offer anything over 1.39 with 1.30 being the average MCA deal. Target 4 to 6 month deals - maybe up to 12 months for those that qualify.

This isn't cheap money - but, peeps need it for various reasons. We just have to find those peeps.

Like I told my Reps at a few Funders - for our Network, this will either be a Hero or a Zero. We'll just have to see. But - this industry can make the right people a Million $$ with a few years of hard work and Team building.

Micah has been helpful by suggesting other products / services need to be in our quiver to make sure our Brokers are in a good position to close various deals.

those select few people are the ones offering 1.49s you need to have enough room in a deal that if it goes to legal you still have room to make money the only people more expensive than us are lawyers and if you don't have room to pay them you are SOL

[cruisinman]

those select few people are the ones offering 1.49s you need to have enough room in a deal that if it goes to legal you still have room to make money the only people more expensive than us are lawyers and if you don't have room to pay them you are SOL

This applies on the Syndication part, I assume. We won't be doing that anytime soon. But, I do like the idea of it . . .

[Franklin]

We are wanting to be different and not offer anything over 1.39 with 1.30 being the average MCA deal. Target 4 to 6 month deals - maybe up to 12 months for those that qualify.

This isn't cheap money - but, peeps need it for various reasons. We just have to find those peeps.

Like I told my Reps at a few Funders - for our Network, this will either be a Hero or a Zero. We'll just have to see. But - this industry can make the right people a Million $$ with a few years of hard work and Team building.

Micah has been helpful by suggesting other products / services need to be in our quiver to make sure our Brokers are in a good position to close various deals.

The average deal in this space is 1.38. If you're targeting 1.30s, that means you're basically targeting the 1.26-28s, which is better paper in general, and as BB mentioned, they're harder to close AND harder to find. The better the credit of the merchant, the more in denial they are about why their only option is expensive short term money, because their credit is just good enough to not be good enough for traditional retail lending options that they all would prefer.

It's smart to offer funding on the side of your main offerings, it takes the pressure away of prospecting solely for mca. The question would be how big is this alternative product network and is it growing, because if it isn't the mca part will be more of a side income and not really a buildable business, because there won't be a growth strategy.












www.UccRadar.com

[TheUnderwritingProdigy]

[cruisinman]

The average deal in this space is 1.38. If you're targeting 1.30s, that means you're basically targeting the 1.26-28s, which is better paper in general, and as BB mentioned, they're harder to close AND harder to find. The better the credit of the merchant, the more in denial they are about why their only option is expensive short term money, because their credit is just good enough to not be good enough for traditional retail lending options that they all would prefer.

On the MCA side we want to be in the 1.25 - 1.39 range. On the lower side - we'll trim our Commission % to get the deal done. Hoping that future Renewals will feed us . . .

I understand that on the biz denial. that is something we'll have to overcome as an objective. We are going to have many Training Classes before we launch.

It's smart to offer funding on the side of your main offerings, it takes the pressure away of prospecting solely for mca. The question would be how big is this alternative product network and is it growing, because if it isn't the mca part will be more of a side income and not really a buildable business, because there won't be a growth strategy.

In addition to our other products / services, I'm not quite sure what the additional options are as of today on the Advance / Loan side. I'm in talks with a few industry vets from this forum who are willing to make those connections for us . . .

[Bcooper]

On the MCA side we want to be in the 1.25 - 1.39 range. On the lower side - we'll trim our Commission % to get the deal done. Hoping that future Renewals will feed us . . .

I understand that on the biz denial. that is something we'll have to overcome as an objective. We are going to have many Training Classes before we launch.



In addition to our other products / services, I'm not quite sure what the additional options are as of today on the Advance / Loan side. I'm in talks with a few industry vets from this forum who are willing to make those connections for us . . .

even if you follow that strategy of cutting points how are you going to handle when a merch wants more than one position, or on renewal doesn't get a rate decrease ect what no one has mentioned on any post here is that people who use mcas continue to use mcas, once a user always a user. the rate doesn't matter 9 times out of ten they are going to refi at 50%, stack the position or get a consolidation of some kind its a cycle and the second you bring them into this space you will be competing with someone like me who is more than willing to offer more positions at higher rates without cutting a penny on commission, and will continue offering positions and rcs as the hb allows it.this is an industry full of sharks and if you arent at a minimum a great white stalking in the depths you will fail epically. the name of this game isnt offering someone a good deal its building the relationship because the merchant will want more money and if you didnt build that relationship no matter how good that first deal is they will get a smooth talker who will give them a 1.49 and stack them 5 times until they need an rc and rinse and repeat. if you arent willing to do that you will lose every merchant you bring in within 3 months sorry to break it to ya.