THE FUNDWORKS

This is a search result page





Phone: 844-644-FUND


Learn More





Related Videos



The Fundworks Talks Nationwide MSI and deBanked San Diego


Stories

1 Week Until deBanked CONNECT MIAMI

December 19, 2019
Article by:

DEBANKED CONNECT MIAMI IS BACK

View The Agenda Here

Get inspired by Brian Holloway’s Total Market Domination, find out how much your company is worth, and learn how to make the dough from the pros in 2020.

Brokers Pay a Reduced Price

Still need a ticket? Register here!


Meet The Sponsors – Form Relationships

Get deals done, sign up a new vendor, network and more at deBanked CONNECT MIAMI on January 16, 2020

JAN 16, 2020

Questions? Email: Events@debanked.com

917-722-0808

THANKS TO OUR AMAZING SPONSORS

TITLE SPONSOR

SPONSORS
REGISTER ONLINE AT WWW.DEBANKEDMIAMI.COM

The Broker: How Kunal Bhasin and His Team of Closers Make Deals in NYC

September 25, 2018
Article by:
Kunal BhasinKunal Bhasin, President, 1 West Finance

His title:

President and owner of 1 West Finance in New York City. He founded it in May of 2017 in New York City. The company is a team of seven.  

His background:

I was at World Business Lenders for 6 years. That’s where I learned this business and figured out how things worked. Then I left WBL and started 1 West Finance. At WBL, I worked in business development…And I think I was in a good space there to get experience to start my own shop.

His morning:

I get up around 7:00, usually will take my kids to school. I’ll have one cup of coffee, then pick up a cup of coffee for my train ride. On the train, I answer any overnight emails and follow up on whatever outstanding deals I’m working on. So usually I’ll be pinging funders to say “What’s going on with this? What’s going on with that? What’s next, what’s next, what’s next?” Then I buy another coffee when I get to Penn Station. I get to the office by 9:15 / 9:30.

Two times a week at a minimum, will bring in all the guys into the conference room. We will go through the pipeline…Who needs my help?  Or who needs the sales manager’s help on a certain deal?…Things tend to move really well after that meeting.

Kunal's TeamBiggest challenge:

Because of the nature of our relationships, we get a lot of clients that haven’t done this type of financing before. And there’s always some level of sticker shock that the client experiences when you tell them, “I’m going to give you $100,000 and you’re going to pay me $130,000 or $135,000.” And they’re like “Oh my goodness. How is that possible?” “And by the way,” we say, “I’m going to take the payments daily or weekly.”   

For clients who haven’t experienced this before, getting over this initial sticker shock is a challenge.

How do you respond to this shock?

I usually say “Hey, listen, we are not a bank.” I say “we fund clients everyday and clients fall into two buckets.” Either they have already gone to the banks and have been told “No.” Or, they can get the money from the bank but they just don’t have the time, because the bank is going to take 40 days or 60 days. And they need the money today or tomorrow.

So I say “If you think you have the 60 days and you can go to the bank, you should go to the bank. Don’t take this money. But if the bank says ‘No’ or you can’t wait, then I’m the next stop.”

Some of his favorite funders:

OnDeck – “by far, my favorite”

Green Peak Capital

InAdvance

Wall Funding

Average monthly volume funded:

$2.7 million.

Largest deal:

$1 million. We made $50,000. That was this year.

Kunal's teamThe Team

His funding process:

A deal first goes to two processors [we have]. They make sure everything is there. No pages missing. They’ll make a decision – is this a good deal for OnDeck or is this a better deal for InAdvance or Fundworks? They’ll actually make the submission, update the CRM, and once the approvals come back, if it meets what the client needs, then the deal goes round robin around the sales team…We try to keep it very fair. And all my guys can close. They’ve all been in business for at least 5 years.   

His weekends:

I’m a husband and the father of three and a half year-old identical twin boys. I work a lot and my kids are generally asleep before I get home. So weekends are dedicated to my wife and kids. I try to put the phone away and spend some quality time with them.

The Broker: How Zach Ramirez Makes Deals Happen

August 17, 2018
Article by:

Zach RamirezdeBanked interviewed Zachary Ramirez to find out what makes a successful broker like him tick, how he does it, and what kinds of things he’s encountered along the way.


Title: Founder and Managing Director of ZR Consulting, LLC, a brokerage of 10 people in Orange County, California.

Years in the industry: 6

Age: 29

protein powderNumber of brokerage shops he’s started: Three. The first one he created failed after only about three deals, the second one, called Core Financial (that he got in early on with 2 other partners), grew to 27 brokers before it was acquired, and this one is only two months old and has already funded $1 million.

His morning routine:

I get up at about 5:45.

I have my protein shake – banana, protein, coconut oil and whatever else I can find that seems healthy to me.

I get a cup of coffee.

I sit down at my desk and the first thing I do is look at all the leads that came in that night. Sometimes there’s as many as 80. Sometimes there’s as few as 20 or 25. I then distribute the leads to my sales team, so that as soon as they wake up, they have all their leads. After that, I focus on marketing and closing some of the bigger deals.

Zach RamirezRitual before he closes a deal:  

It’s a funny habit that makes me laugh but before I try to close a deal, I visualize myself closing the deal and I beat my chest. I walk around the office beating my chest like an ape, and it’s just hysterical. I get this big adrenaline rush right before I call the merchant. And when I call them, I’m just on fire. Whatever happens, I’m ready for it. And when I’m in that mode, I can’t lose a deal. It’s like impossible.    

His first deal:

It was an auto repair shop that needed $75,000 in order to add three new bays for their repair shop. I think I funded it with OnDeck. It was a very smooth deal. My buddy brought it to me. He said the customer needs the money today. And we ended up funding it the same day. It was great.

I was 23 years old and that was the first time I had seen my business capture any revenue. Finally, after a month or two months of straight working, and not finding a single deal, I finally figured out the marketing a little bit and ended up funding that one. I remember we had 10 points in it, so we had $7,500. I was a single guy renting a room, and for me that was a good chunk of money.

What it taught him:

It helped me learn about expense management because that first broker shop I started failed. I lost everything on that shop. I only funded two or three deals and I ended up spending more money than I made. I was very humbled by this. I realized that being a broker isn’t as easy as people think.  

What his best merchants have in common:    

My favorite merchants understand why they qualify for what they qualify for. We have a deep rapport. I don’t just talk about business. I’ll talk about their family. I’ll talk about trends I see in their industry. I’ll help them understand their financial situation. And my best merchants are the ones that understand that I’m a source of information for them and I can provide them with valuable insights that they might not be aware of. Things that can help them. I’ll help them with marketing a lot…I say, ‘Look, if you talk to these people, they can do this marketing for you.’ And I do stuff like that because it’s increasing their revenue which helps their business. And that can help me do bigger loans for them.

$Largest deal:

It was a $2 million deal. We had three points in it, so we made $60,000.

Favorite funders:

OnDeck. Also, I really like Fundworks, Quickbridge and Kalamata Capital Group. If someone doesn’t say OnDeck, then they’ve got a problem because OnDeck is amazing.  

Why?

Because the consistency of their approvals, their competitive rates, the fast and seamless funding process. And especially, the online checkout. The online checkout is godly.



Found on DailyFunder:

02-27-2020

See Post...
the fundworks at times has accepted direct fax from the merchants bank, this is a case by case. good luck....
11-19-2019

See Post...
the fundworks, elevate and quickbridge...
12-10-2016

See Post...
the fundworks, llc, direct: (310) 415-0362, toll free: (844) 644-fund x101, evan@thefundworks.com, , they must have gotten threatened to be sued by their owner justin as he likes to threaten legal action. doesn't mean anything yet. time will tell. we know aronin monitors these posts so will see...