Do You Work in The Merchant Cash Advance Industry?March 28, 2012 | By: Sean Murray
It’s a good time to be employed in the Merchant Cash Advance industry. Without doing any formal research on the sweeteners being offered to agents, we frequently see some of the enticing ads:
Share in the Profits!
Get an iPad!
Work with a TRUE DIRECT FUNDER
and so on…
But forget the iPad boys and girls because you can go to the freaking olympics! Someone forwarded us this advertisement from Infinity Capital Funding which apparently is offering anyone that funds over $125,000 in deals through April 30th, two tickets to the 2012 London Olympics, free flights, hotel, $2,000 in cash, and a VIP helicopter tour. We’re inclined to believe that funding 125k will enter you into a raffle to win this package considering medium-sized ISOs could surpass that target with no sweat. Hopefully this plug reaches Infinity and they can clarify this for us.
The last time we saw a sales prize on that scale was in August 2009, when 1st Merchant Funding was offering a free Mini Cooper to any ISO that funded more than $1 million with them in the span of 120 days. Nobody ended up getting the car.
But not everyone in this business is an agent. There are countless underwriters, portfolio managers, secretaries, assistants, callers, bookkeepers, and other individuals that drive this industry day in and day out. It’s important work and we salute you. That doesn’t stop the account managers, sales representatives, and brokers from getting all the attention though. So what IS IT that these brokers do anyway? It depends on who you ask…
This image was created by the staff of Entrust Cash Advance, a veteran Merchant Cash Advance firm in New York City. They’ve been in the industry since 2007 and from what we gather by the image, they’ve got it figured out.
deBanked would like to hear more from companies about any incentives, rewards, and prizes you’re offering. Send any information regarding this to firstname.lastname@example.org
Sean Murray is the founder of deBanked, an 11-year veteran of the merchant cash advance industry, a casual Lending Club and Prosper note investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast. Connect with me on LinkedIn or follow me on twitter.