Archive for 2018
In 2018, Sell More and Make More Money
January 4, 2018Did you hear about the MCA sales rep that made a $160,000 commission this week on a single deal? It was a monster deal, the largest ever approved by the company that funded it. Numbers like that are proof that facilitating commercial finance deals is still red hot.
That’s me in that photo above, wearing that shirt back in 2009 when the industry was not even a fraction of the size it is today. Hat tip to the friend who found this. I used to joke about putting on your funding pants but perhaps in 2018 it’s time to put on a selling shirt too.
In 2018, will you sell more and make more money?
If you want to operate at the top of your game, I highly suggest you register to attend Broker Fair 2018. With 24 major sponsors already signed on, Broker Fair will be the place to learn, get inspired, and connect with the right people to do even more business.
May the next big commission check belong to you.
An Online Lending Task Force is Coming to New York (Revised)
January 3, 2018Update: 1/5/18
The final amended version of the law that passed is now online. Read here.
Update: 1/4/18
Although the bill was signed by the Governor, a last minute change eliminated the task force portion of the task force bill. Instead the DFS, NY’s financial services regulator, is tasked with conducting its own study of online lending. The results of their findings are to be submitted to the Governor for review by July 1, 2018.
An online lending task force DFS study will be coming soon to New York, according to legislative records. The New York State bill proposed in June and covered by deBanked, was reportedly signed by Governor Cuomo on December 29th, right before the end of the year.
The law calls for the formation of a 7-person task force to analyze online lending activity in the state. Three members of the task force are to be appointed by the governor, two by the president of the senate, and two by the speaker of the assembly. They are also expected to submit recommendations to the governor based on their findings.
The task force DFS study will examine both small business lending and consumer lending.
Read the final text of the law here. This is the final amended version.
